Slide 1: 2017 First quarter results
2017 First quarter results CONFERENCE CALL ‐ 4 MAY 2017
Slide 2: First quarter 2017 highlights
First quarter 2017 highlights • Revenue € 341.9 million, up 13.1% • EBITDA € 117.7 million or 34.4% of sales, up 18.9% • Operating income (EBIT) € 107.3 million or 31.4% of sales, up 19.0% • Net income € 78.5 million or 23.0% of sales, up 19.9% • Net debt € 105.6 million, a reduction of € 93.1 milli
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 65.1% of revenue (million Euro) 1Q 2017 1Q 2016 Change % Zanidip® (lercanidipine) 36.9 35.0 5.5 Zanipress® (lercanidipine+enalapril) 19.1 17.8 6.9 Urorec® (silodosin) 23.8 22.1 8.0 Livazo® (pitavastatin) 9.6 8.9 7.1
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 15.0% Drugs for rare diseases 15.2% Livazo® 2.8% Urorec® 7.0% Zanipress® 5.6% OTC 18.6% Zanidip® 10.8% Subsidiaries’ local product portfolios 21.0% Pharmaceutical chemicals 3.4% Ortoton® (methocarbamol) ‐ Germany 3% Other revenue 0.6% Methadon
Slide 5: Composition of revenue by geography
Composition of revenue by geography Continued growth (million Euro) 1Q 2017 1Q 2016 Change % Italy 74.8 61.5 21.5 Russia, other CIS countries and Ukraine 33.7 19.2 75.9 France 29.9 28.5 5.0 U.S.A. 28.0 25.8 8.5 Germany 27.7 24.2 14.6 Turkey 22.7 22.5 1.1 Spain 19.8 18.4 7.7 North Africa 13.8 15.8 (1
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 14.9% (sales to licensees and exports) Other CEE 2.3% Italy 22.6% Other W. Europe 3.9% Portugal 3.0% North Africa 4.2% Russia, other CIS and Ukraine 10.2% Spain 6.0% France 9.1% Turkey 6.9% Germany 8.4% U.S.A. 8.5% Data: Firs
Slide 7: First quarter 2017 results: Further margin growth
First quarter 2017 results Further margin growth (million Euro) 1Q 2017 1Q 2016 Change % Revenue 341.9 302.2 13,1 Gross Profit 236.1 208.5 13.2 as % of revenue 69.1 69.0 SG&A Expenses 105.8 95.6 10.6 as % of revenue 30.9 31.6 R&D Expenses 23.2 22.3 4.0 as % of revenue 6.8 7.4 Other Income (Expense),
Slide 8: First quarter 2017 results: Operating segments
First quarter 2017 results Operating segments Revenue EBIT Treatments for rare diseases 15.2% Treatments for rare diseases 22.0% Primary & specialty care Primary & specialty care 84.8% 78.0% EBIT margin on sales: Treatments for rare diseases, 45.2% Primary & Specialty care, 28.9% 8
Slide 9: Net financial position
Net financial position (million Euro) 31 Mar 2017 31 Dec 2016 Change Cash and short‐term financial 219.8 138.5 81.3 investments Bank overdrafts and short‐term loans (17.1) (15.7) (1.4) Loans – due within one year (40.3) (40.4) 0.1 Loans – due after one year (268.0) (281.1) 13.1 NET FINANCIAL POSITIO
Slide 10: Financial projections: 2017 targets
Financial projections 2017 targets 2016 2017 (million Euro) Actual Targets Revenue 1,154 ± 1,250 EBITDA 371 ± 425 Operating income 327 ± 380 (EBIT) Net Income 237 ± 275 10
Slide 11: Company declarations, disclaimers and profile
Company declarations, disclaimers and profile DECLARATION BY THE MANAGER RESPONSIBLE FOR PREPARING THE COMPANY’S FINANCIAL REPORTS The manager responsible for preparing the company’s financial reports Fritz Squindo declares, pursuant to paragraph 2 of Article 154‐bis of the Consolidated Law on Finan