Navamedic Asa · OSL:NAVA
Navamedic Asa — Q3 2023 Earnings Presentation
23 slides from Navamedic Asa's earnings presentation, Nov 1, 2023
Slide 1: Third quarter 2023 results
Q3 2023 Third quarter 2023 results 1 November 2023 Kathrine Gamborg Andreassen, CEO Lars Hjarrand, CFO
Slide 2: Record high quarter with above 50% growth
Q3 2023 results Record high quarter with above 50% growth REVENUE GROSS MARGIN Adjusted EBITDA Q3 141.0 MNOK 37.6 % 17.4 MNOK1 Revenue growth YTD driven by increased sales of 2023 several products across all Up 51.9% YoY 42.5% in Q3 22 12.7 MNOK in Q3 22 three product areas, 1 EBITDA net of MNOK 1.1
Slide 3: Ahead of 20% organic Y/Y revenue growth target
Ahead of 20% organic Y/Y revenue growth target Consistent positive trend in revenue and EBITDA* +41% 500 200 400 Normal fluctuation in 150 revenue growth between quarters due to seasonality NOK million NOK million 300 and stock build-up/down 100 effects 200 Organic revenue growth YTD of 34.8% 50 100
Slide 4: Our edge explained
Our edge explained A reliable supplier of high-quality pharma products, within Prescription drugs (RX), Consumer Health, and Hospital products including Medical nutrition Presence and sales Strong local insight and across the Nordics understanding of patients’ needs Ambitious growth strategy with a
Slide 5: High-quality portfolio with several hero products
High-quality portfolio with several hero products Prescription Drugs (RX) Consumer Health Hospital Sold through pharmacies Sold through pharmacies Tenders incl. medical nutrition* YTD 23 YTD 23 74,8 58% revenue in 57% revenue in 10% MNOK 227.8 84,1 MNOK YTD 23 revenue in MNOK YoY growth YoY growth Y
Slide 6: Consumer Health
Consumer Health Hero brands continue to deliver double digit growth The Consumer Health segment comprises Navamedic’s over-the-counter products, available to patients without a prescription • Modifast has gained traction across Norway and Sweden, delivering another quarter with Q3 2023 REVENUE stron
Slide 7: Hospital
Hospital Continued growth of medical nutrition products The Hospital segment comprises Navamedic’s antibiotics portfolio and medical nutrition products for the treatment of Inborn Errors of Metabolism (IEM) • Steady and double-digit YTD growth across the Q3 2023 REVENUE portfolio 24.0 MNOK • Prepari
Slide 8: Prescription Drugs (RX)
Prescription Drugs (RX) Strong product growth across various therapeutic areas The RX segment comprises Navamedic’s prescription products 40% YOY GROWTH IN MYSIMBA® WHOLESALER • Mysimba® remains in VOLUME high demand with a 40% Vol. (units 000) Q3 2023 REVENUE increase YTD in revenue 200 92.1 MNOK •
Slide 9: Successful acquisition of Sensidose AB
Successful acquisition of Sensidose AB Commercial strategy and activities underway • Parkinson’s disease is a • Flexilev (Myfid) has marketing authorisation in a total complex progressive of 10 countries and is reimbursed in the Nordics neuro-degenerative disease, which affects 1-2% • Navamedic will
Slide 10: Strategy for becoming a NOK 1 billion revenue company
Strategy for becoming a NOK 1 billion revenue company 1 GROWTH BASED ON A STRONG FOUNDATION Untapping the potential within existing products, categories and territories. Strengthening the core with a disciplined approach to portfolio management, including adding attractive new products 2 PORTFOLIO E
Slide 11: Financials
FINANCIALS @ Navamedic
Slide 12: Key consolidated profit and loss figures
Financials Key consolidated profit and loss figures (in NOK '1000) Q3 2023 Q3 2022 YTD 2023 YTD 2022 Year 2022 In Q3 2023, revenues grew by 51.9% Operating revenues 140 999 92 811 386 686 266 168 382 135 compared to the same quarter last Gross profit 52 970 39 453 153 351 113 757 163 519 year, and 4
Slide 13: Assets
Financials Assets The increase in Goodwill is mainly due to (in NOK '1000) 30.09.2023 30.09.2022 31.12.2022 the Sensidose acquisition Goodwill 140 825 98 771 100 743 Intangible assets are up due to Sensidose Deferred tax assets 835 9,168 835 acquisition Other intangible assets 80 821 32 593 30 537 P
Slide 14: Equity and liabilities
Financials Equity and liabilities (in NOK '1000) 30.09.2023 30.09.2022 31.12.2022 Total equity 218 269 188 699 209 720 Non-current license liabilities 3 945 6 198 3 762 Loans and borrowings 103 292 53 411 38 368 Non-current right of use liabilities 4 102 5 331 4 861 Equity ratio of 45% Total non-cur
Slide 15: Cash flow Group – total operations
Financials Cash flow Group – total operations The cash flow from Operating Activities (in NOK '1000) Q3 2023 Q3 2022 YTD 2023 YTD 2022 Year 2022 is mainly the result of Net profit Net cash flow from operating activities 25 416 11 148 27 528 -1 987 17 941 coupled with changes in working capital items
Slide 16: Summary & Outlook
SUMMARY & OUTLOOK @ Navamedic
Slide 17: Navamedic ASA summary and outlook
Navamedic ASA summary and outlook Continued strong growth and new expansion TARGETS AND AMBITIONS opportunities Ahead of growth target of 20% annual organic growth • Navamedic delivered NOK 141.0 million in revenue in the third quarter of Mid-term ambition 2023, representing an increase of 51.9% YoY
Slide 18: Q&A
Q&A 18 @ Navamedic
Slide 19: Thank you for your attention!
Thank you for your attention! Navamedic’s Q4 2023 presentation will be held on February 15, 2024 19
Slide 20: Appendix
APPENDIX @ Navamedic
Slide 21: Condensed consolidated statement of cash flows
Navamedic ASA Condensed consolidated statement of cash flows (in NOK '1000) Q3 2023 Q3 2022 YTD 2023 YTD 2022 Year 2022 Cash flow from operating activities Profit before tax 10 224 5 244 10 715 15 340 42 506 Adjusted for: Depreciation, amortization and impairment 3 497 1 782 7 534 5 442 7 242 Financ
Slide 22: Basis for preparation and Alternative Performance Measures
Appendix Basis for preparation This presentation provides financial highlights for the quarter for Navamedic Group. The financial information is not reported according to the requirements in IAS 34 (Interim Financial Reporting) and the figures are not audited. The same measurement principles as pres
Slide 23: Copyright and disclaimer
Appendix Copyright and disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Navamedic and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any