Slide 1: Results Presentation for the Full Year Ended 30 June 2023
For immediate release 15 August 2023 RESULTS PRESENTATION FOR THE FULL YEAR ENDED 30 JUNE 2023 Melbourne, Australia – CSL (ASX:CSL; USOTC:CSLLY) Please find attached the slides for the presentation on the full year results that will be given by the Chief Executive Officer and Chief Financial Officer
Slide 2: CSL Limited 2023 Full Year Results
CSL Limited 2023 Full Year Results 15 August 2023 Paul McKenzie Joy Linton CEO & Managing Director CFO
Slide 3: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation contains summary information about CSL Limited (ACN 051 588 348) and its related bodies corporate (together, CSL) and CSL's activities as at the date of this presentation. It is information given in summary form only and does not purport to be comple
Slide 4: CEO Overview
01 CEO Overview Paul McKenzie CEO & Managing Director 3
Slide 5: Strong profit growth in FY23
Strong profit growth in FY23 CSL Behring CSL Seqirus • Strong Ig growth • Strong growth in FLUCELVAX® • Record plasma collections • Licence agreement for • Successful launch of gene next-generation mRNA REVENUE therapy HEMGENIX® vaccine technology $13.3b +31%1 CSL Vifor R&D NPATA2 • Acquisition succ
Slide 6: CSL Behring Revenue up 12%
Revenue up 12%1 Revenue Change1 Major Therapy $m % Performance Brands • Strong growth across all geographies Ig – Privigen® +29%, Hizentra® +12% 4,675 21% • Hizentra® pre filled syringe launch • Global supply continues to recover strongly • Strong growth in China as COVID restrictions ease Albumin 1
Slide 7: Operational Highlights
Operational Highlights Plasma Collections • Strong increase in plasma collected +31%, now at record levels • ~14% reduction in CPL over the year1 − ~17% CPL reduction from the peak in March 2022 • Mexico border re-opened in Sep 22, centers recovering strongly • 12 new centers opened • Continued adva
Slide 8: CSL Seqirus Revenue up 9%
Revenue up 9%1 Revenue $m Change1 % Performance Major Brands • Continue to benefit from strength of Egg Based 148 (33%) differentiated product portfolio • 9% revenue growth in seasonal influenza vaccines against a backdrop of reduced rates Cell Culture 599 30% of immunisation • Strong growth in FLUC
Slide 9: Operational Highlights
Operational Highlights Seasonal influenza products Pandemic influenza • 6 months+ age indication for FLUCELVAX® now • Received BARDA orders for clinical assessment and approved in the US, Argentina, Canada, Taiwan, stockpiling of H5 avian flu vaccine candidates Australia and New Zealand • Renewal/ex
Slide 10: CSL Vifor Nephrology
~14% revenue growth2 Integration well advanced ~11 months revenue contribution1 Cost synergies on track Revenue $m Major Brands Highlights • Injectafer® approved in the US for the treatment of iron Iron 1,009 deficiency in adult patients with heart failure Jun 23 • Ferinject® launched in China Apr 2
Slide 11: R&D Highlights – FY23
R&D Highlights – FY23 Immunology Respiratory Transplant • Garadacimab (Anti-FXIIa) HAE • CSL787 (Neb Ig) Phase I study enrolment complete • CSL964 (AAT) treatment of GvHD – Phase III study ‒ Phase III study data announced last patient in ‒ Preparations for global regulatory submissions • Clazakizuma
Slide 12: Financials
02 Financials Joy Linton CFO 11
Slide 13: NPATA
NPATA1 FY22 FY23 $2,855m2 Rep @ CC3 $245m FX NPATA $2,381m2 $2,855m2 Acquired intangible assets ($115m) ($239m) amortisation One-off acquisition adjustments ($40m) ($346m) Tax $29m $84m4 $2,610m NPATA Attributable to NCI5 0 $139m $2,381m NPAT $2,255m $2,493m NPAT Attributable to NCI5 0 ($52m) NPAT $
Slide 14: CSL Group Financial Highlights
Ig franchise growing strongly CSL Group Includes ~11 months of CSL Vifor Financial Highlights financials FY22 FY23 FY23 Change 1 1 US$ Millions Rep Rep at CC % S&M Total Revenue 10,562 13,310 13,826 31% CSL Behring and CSL Seqirus commercial Gross Profit3 5,734 7,250 7,587 32% activities relatively
Slide 15: CSL Group FY23 by Segment
CSL Group FY23 by Segment CSL Change CSL CSL Change 1 3 1 US$ Millions CSL Behring Seqirus Total % at CC Vifor Group % at CC Sales 8,968 1,851 10,819 11% 1,957 12,776 31% Other Revenue 322 180 502 23% 32 534 31% Total Revenue 9,290 2,031 11,321 12% 1,989 13,310 31% Gross Profit4 4,575 1,264 5,839 7%
Slide 16: CSL Behring Gross Margin Key Contributors
CSL Behring Gross Margin CPL Reduction Path to margin recovery different to COVID driven Key Contributors1 margin decline New Products2 Anticipate margin to return to pre-COVID level within ASP Mix Shift 3 – 5 years FX impacts margin given Ig Yield Improvements3 ~50% of sales outside US Scale & Effi
Slide 17: Operational Efficiency
Operational Efficiency Enterprise wide enabling functions successfully embedded $M Revenue % of Revenue 14,000 8% 12,000 • Centralised services provided to 10,000 6% the businesses 8,000 ‒ I&T, HR, Finance, Comms, Legal, 4% Procurement 6,000 • Benefit from scale, automation and 4,000 2% standardisat
Slide 18: Inventory
Inventory Active management $m Inventory % of revenue 6,000 100% 5,000 80% Key Insights 4,000 Inventory as a percentage of 60% revenue steady despite 3,000 dynamic environment 40% 2,000 Higher inventory driven by 1,000 20% increased plasma volume and cost 0 0% 2017 2018 2019 2020 2021 2022 2023 Incl
Slide 19: Capex Management
Capex Management1 Capex US$m % of Revenue 1,400 14% ~30% 13% 1,200 12% 1,000 11% ~70% in growth capex v 10% maintenance capex over 800 9% the last 4 years to support 600 future demand 8% 400 7% FY24 expected to 6% 200 be ~$800m 5% - 4% ~30% down on FY23 Maint Growth % of Rev 1. Capital Expenditure f
Slide 20: Foreign Currency Impact
Foreign Currency Impact NPATA – FX impact by type NPATA – FX impact by type ($245m) ($245m) $2,855m $2,855m $64m $121m $49m $47m $31m $116m $23m $31m $2,610m $2,610m $8m FY23 @ CC USD/CNY USD/GBP USD/EUR USD/JPY USD/AUD Other FY23 FY23 @ CC Transaction FX Unrealised Translation FX FY23 / Realised FX
Slide 21: CEO Overview
03 CEO Overview Paul McKenzie CEO & Managing Director 20
Slide 22: Ig Yield Maximisation Strategy
Ig Yield Maximisation Strategy1 Ig Yield Growth • FY23 recovery ~70 – ~75% of IG (yield 25% ~4.52g) • US average donor has 6 – 6.5g of IG • Horizon 1 FY24 – FY28 – recovery to 20% Horizon 2 grow +5% • Horizon 2 FY29 – FY33 – recovery to grow +10% Yield Improvements 15% • Over 10 year period, expect
Slide 23: FY24 Outlook
FY24 Outlook1 Strong mid-term outlook Promising cluster of R&D programs nearing completion CSL Behring CSL Vifor CSL Seqirus • Strong Ig growth following • Investing in Iron • Continued growth record FY23 plasma to win in an from Influenza collections evolving market vaccine differentiation • Gene t
Slide 24: CSL Contacts
CSL Contacts Mark Dehring VP Investor Relations +61 3 9389 3407 mark.dehring@csl.com.au Bernard Ronchi Investor Relations +61 3 9389 3470 bernard.ronchi@csl.com.au Stephen McKeon Investor Relations +61 3 9389 6798 stephen.mckeon@csl.com.au
Slide 25: Notes
Notes (#) Constant currency removes the impact of exchange Summary NPAT attributable to members rate movements to facilitate comparability of operational of parent entity performance for the Group. This is done in three parts: a) Reported net profit after tax $2,194m by converting the current year n
Slide 26: Appendix
Appendix 25
Slide 27: Appendix A: CSL Behring – Key Products
Appendix A CSL Behring – Key Products CSL BEHRING Therapy Group Sales $m Change1 % FY23 Revenue By Therapy Group $m Privigen IVIG 2,832 29% 5%, 9% Other, Hizentra SCIG 1,644 12% Other $482 Specialty Albumin Albumin 1,109 11% $867 33% 10%, IVIG Idelvion Haemophilia 703 13% Peri-Operative $3,028 Bleed
Slide 28: Appendix B: CSL Vifor & CSL Seqirus – Key Products
Appendix B CSL Vifor & CSL Seqirus – Key Products FY23 Revenue By Therapy Group $m 1%, Other Income, 8%, Pandemic, $156 $24 7%, Egg Based, $148 10%, Other / In License, CSL SEQIRUS Therapy Group Sales $m Change1 % $211 Fluad Adjuvanted 893 7% 30%, Cell Culture, Flucelvax Cell culture 599 30% $599 44