Chemical Works Of Gedeon Richter Plc · BET:RICHTER
Chemical Works Of Gedeon Richter — Gedeon Richter — FY2021 Earnings Presentation
22 slides from Chemical Works Of Gedeon Richter's earnings presentation, Feb 28, 2022
Slide 1: Richter Group Report, M12 2021
Richter Group Report, M12 2021 Budapest, 28 February 2022
Slide 2: Highlights I.
Report, M12 2021 Highlights I. 630,595 HUFm 55.4% Consolidated Gross margin sales +11.3% 21.5% 751 HUF Operating margin EPS +33.4% 139,626 HUFm Net profit* +33.4% * Net income attributable to owners of the parent. 2
Slide 3: Highlights II. Biosimilar
Report, M12 2021 Biosimilar Highlights II. 9 December 2021 - denosumab Richter and Hikma announced that they entered into an exclusive licence agreement to commercialise Richter’s denosumab, comprising two biosimilar products referencing Prolia® and Xgeva® (“Products”), in the United States. The Pro
Slide 4: Share Ownership Structure
Report, M12 2021 Share Ownership Structure Corporate matters 31 December 2021 Domestic investors 10% Maecenas Universitatis 65% International Corvini Foundation 10% investors 10% Mathias Corvinus Collegium Foundation 5% Foundation for National Health and Education of Medical Doctors 4
Slide 5: Reconciliation of consolidated sales by segments
Report, M12 2021 HUFm Increase Decrease Total Reconciliation of consolidates sales by segments (HUFm) The pharma segment accounts for 80% of consolidated turnover. The share of sales in Pharma segment declined within the Group. Exchange rate loss at consolidated sales level: HUF 663m 5
Slide 6: Revenue by strategic pillars
Report, M12 2021 Revenue by strategic pillars (%) 2021 26% 13% 34% 21% 6% Branded Traditionals WHC Cariprazine Biosimilars generics 2020 28% 14% 33% 20% 5% 6
Slide 7: Change in the turnover of our selected products
Report, M12 2021 HUFm Increase Decrease Total Change in the turnover of our selected products Turnover of Vraylar® showed a robust growth in 2021. When adjusting the base period figure for the sales related milestone received, year-on-year growth of royalties accounted for on behalf of Vraylar® sale
Slide 8: Key products (1/2)
Report, M12 2021 Key products (1/2) Cariprazine USA - Reagila® HUF 106,176m HUF 101,569m Vraylar® (EUR 296.1m) Croatia, Qatar – royalty income market launches (increase of 28.7% yoy) Turnover +17.1%* Vietnam, Indonesia, Turkey - registration Submission of a * Significant milestone income in the supp
Slide 9: Key products (2/2)
Report, M12 2021 Key products (2/2) Bemfola® HUF 19,629m Improving sales occurred as most of the fertility centers resumed their (EUR 54.7m) activities in many European countries. Nőgyógyászat +17.6% The robust increase was partly due to Turnover the exceptionally weak year of 2020. WHC Evra® Accord
Slide 10: Sales by geographies (%)
Report, M12 2021 Sales by geographies (%) HUF 505.0bn 2021 25% 9% 30% 24% 12% CIS Hungary Europe USA Other global +10.4% markets* 2020 27% 9% 30% 24% 10% HUF 457.3bn * Including the regions of China, Latin America and Rest of the World. 10
Slide 11: Change in turnover by geographies
Report, M12 2021 Increase Decrease HUFm Total Change in turnover by geographies In Europe substantial increases of Bemfola®, Terrosa® and royalty proceeds of Evra® resulted in an outstanding sales level. In the USA Vraylar®-related revenues grew marginally besides a one-off milestone payment last ye
Slide 12: Financials – Consolidated Highlights
Report, M12 2021 Consolidated Financials – Highlights as % of HUFbn Change % EURm total revenues Total revenue 630.6 11.3 1,758.5 Gross profit 349.3 9.6 974.0 55.4 Profit from operations 135.8 18.0 378.8 21.5 Profit for the period* 139.6 33.4 389.4 22.1 HUF Change % EUR EPS (diluted) 751 33.4 2.09 *
Slide 13: Increasing gross profit and decreasing margin
Report, M12 2021 HUFbn 56.2% 700 55.4% 60% Increasing 600 59% Significant increase in royalties received gross profit and in respect of the sales of Vraylar® 500 decreasing margin 58% (HUF 22,620m) 400 (HUFbn) 57% 300 Evra® royalty (HUF 13,358m) 56% 200 100 55% 0 54% 2016 2017 2018 2021 2019* 2020*
Slide 14: S&M costs (HUFm)
Report, M12 2021 S&M costs (HUFm) HUFm 120 000 60% 100 000 50% 80 000 40% 60 000 30% 40 000 20% 20 000 10% 0 0% 2016 2017 2018 2019* 2020* 2021 S&M costs S&M percentage of sales * Reclassification of depreciation of intangible assets representing sales and other product-related licence rights. 14
Slide 15: R&D costs (HUFm)
Report, M12 2021 HUFm 70 000 15% R&D costs (HUFm) 60 000 50 000 10% 40 000 30 000 5% 20 000 10 000 0 0% 2016 2017 2018 2019 2020 2021 R&D costs R&D percentage of sales Split of R&D spending (%) – 2021 CNS original Biosimilars WHC Branded generic research (including and traditional cariprazine) produ
Slide 16: Increasing operating profit and margin
Report, M12 2021 HUFm 21.5% Increasing operating 140 000 20.3% 25% Significant Vraylar® royalty profit and margin 120 000 (HUFm) 20% Evra® royalty income 100 000 15% S&M and G&A expenses increased 80 000 slightly however their proportion to turnover reduced 60 000 10% 40 000 5% 20 000 Higher turnove
Slide 17: USDRUB average annual exchange rate
2022. 02. 28. USDRUB average annual exchange rate 90 80 70 60 50 40 30 20 10 0
Slide 18: Richter – Sales
Richter – Sales 1000 USD 1997 1998 2003 WEU 18 869 18 626 43 869 RU 74 551 58 335 78 463 UA 13 023 11 875 17 566 CIS-10 8 815 9 821 22 637 US 9 874 10 051 92 523 GRAND 322 220 299 592 525 261 TOTAL
Slide 19: Richter – Sales
Richter – Sales 1000 USD 2013 2014 2021 WEU 153 115 189 044 242 434 RU 427 224 350 724 229 891 UA 95 076 73 109 47 582 CIS-10 107 452 107 637 83 994 US 63 253 66 979 370 682 GRAND 1 320 174 1 260 237 1 493 223 TOTAL
Slide 20: Richter - Sales
Richter - Sales 1997 LATAM 1998 LATAM 2003 2% 1% LATAMOTHER OTHER 2% OTHER 9% US 8% CN CN 6% CN 3% 1% US HU 2% 1% HU 3% 26% 27% HU CIS-10 CIS-10 29% 3% US 3% UA 18% UA 4% 4% CIS-10 4% RU 20% UA RU 3% 23% CEE CEE 23% CEE 15% WEU 25% RU WEU 6% 15% WEU 6% 8%
Slide 21: Richter - Sales
Richter - Sales LATAM LATAM 1% 2013 2% 2014 LATAM 2021 3% OTHER HU OTHER OTHER HU CN HU 4% 10% CN 4% 6% 9% 11% US 3% 4% CN 5% US 3% 5% CEE CIS-10 14% 7% CEE CEE CIS-10 18% 17% 8% UA US 7% 24% UA 6% WEU 16% WEU 12% WEU 15% CIS-10 RU 5% UA RU 28% 3% RU 33% 17%
Slide 22: RICHTER GEDEON
RICHTER GEDEON