Bora Pharmaceuticals Co Ltd · TWSE:6472
Bora Pharmaceuticals — Q1 2024 Earnings Presentation
19 slides from Bora Pharmaceuticals's earnings presentation, May 2024
Slide 1: First Quarter 2024 Results
FIRST QUARTER 2024 RESULTS MAY 2024
Slide 2: Agenda
Agenda Operational Updates Financial Highlights Strategic Deliverables & YTD Progress Q&A
Slide 3: Q1'24 Operational Updates
Q1’24 Operational Updates
Slide 4: Q1'24 Net Income Achieved ~30% QoQ Growth with GM at 53%
Q1’24 Net Income Achieved ~30% QoQ Growth with GM at 53% Robust Business Growth • Q1‘24 operating revenues were NT$2,857 million, in line with management team’s expectation Global CDMO + Small molecule CDMO: 1st ophthalmic CDMO product to be delivered – BPO’s customer received the final approval for
Slide 5: Global CDMO – Growing Presence in the US Market with 1st Ophthalmic Launch
Global CDMO – Growing Presence in the US Market with 1st Ophthalmic Launch & Outstanding OSD Capability Plymouth + Maple Grove, Minnesota • Oral Solids • tablets, coated/ uncoated (immediate, delayed, and extended release) • hard-gelatin capsules (immediate, and modified release) Oral Solid • Powder
Slide 6: Global CDMO – Superior Biologics Platform Technology Recognized by Global Brand Customers
Global CDMO – Superior Biologics Platform Technology Recognized by Global Brand Customers Complex Biologics Platform Technology • Delivering a scalable platform technology that supports superior product quality and yield for mAbs, Bi-Specifics, Tri-Specifics, Fc Fusion Proteins, Enzymes, Recombinant
Slide 7: Global Commercial Sales – Diversifying Product Portfolio & Target Markets
Global Commercial Sales – Diversifying Product Portfolio & Target Markets to Boost Profitability 1. Topiramate Sprinkle Capsule 3 Product Launch 2. Galantamine Hydrobromide Tablet US 3. Tadalafil Tablet market & • 1 ANDA submission filed Continued Portfolio Expansion • Integration kicked off to comb
Slide 8: Q1'24 Financial Highlights
* Better Health All bo [(@ Over the World Q1'24 Financial Highlights
Slide 9: Strong Growth Momentum by "Dual-Engine" Strategies
Strong Growth Momentum by “Dual-Engine” Strategies Growth Drivers* Revenue Breakdown Global Commerical , 56% Q1’24 = Q1’23 = NT$2,857mn NT$4,781mn CDMO, PAC = 44% BH + SW, NT$1,647mn 15% TW, 0% US Others, DLS, 14% 50% DTS, 1% SFT, 5% DTC, 3% KCL, 6% FFV, 6% * BH + SW = Bora Health + SunWay *Includin
Slide 10: Q1'24 Financials
Q1’24 Financials Financial Highlights Key Financials YoY QoQ (in NTD millions, except for EPS) Q1'24 Q1'23 % Q4'23 % Revenue 2,857 4,781 -40% 3,206 -11% COGS (1,352) (2,855) (1,509) Gross Profits 1,506 1,926 -22% 1,697 -11% GM % 53% 40% 53% S&M (200) (102) 96% (132) 52% G&A (320) (222) 44% (320) 0%
Slide 11: Another Record Year Expected with Outperforming Q1'24 Results
Another Record Year Expected with Outperforming Q1’24 Results Revenue (NT$’mn) Gross Profits (NT$’mn) 14,200 6,991 10,494 2,913 1,672 1,506 704 4,900 1,800 2,857 FY2020 FY2021 FY2022 FY2023 Q1'24 FY2020 FY2021 FY2022 FY2023 Q1'24 GM (%) 39% 34% 28% 49% 53% Operating Income (NT$’mn) Net Profits (NT$’
Slide 12: Summary of Share Buyback Program
Summary of Share Buyback Program • Execution period approved by BoD: 2024/3/8 – 2024/5/7 • # of shares approved by BoD: 1,000,000 shares • Price per share approved by BoD: NT$600 – NT$808 • Actual # of shares bought: 519,000 shares • Total cost of the shares bought: NT$389.7 million • Average cost p
Slide 13: Strategic Deliverables & YTD Progress
Strategic Deliverables & YTD Progress
Slide 14: Key Foundation for Exponential Growth in 2024
Key Foundation for Exponential Growth in 2024 – Closing Completed 3M Ahead 4/1 Actual Closing Date Integration kicks off 3 months ahead of schedule USL revenues to be consolidated starting from April • April revenues reached NT$1.64 billion, hitting a record high during 7/1 the most recent 14 mont
Slide 15: Commercial Sales Integration – Complementing Existing Product Portfolio
Commercial Sales Integration – Complementing existing Product Portfolio and Distribution Channel Generics Pending for Launch/ 73 Commercial Products 14 5+ Active R&D Projects Approval Brand/ Specialty 6 Branded NDAs 5 Pending for Launch/ 1 Approval*specialty generics Specialty Generic 7* 13* 6* 3* E
Slide 16: Multiple Growth Drivers to Set the Stage for Accelerated Growth
Multiple Growth Drivers to Set the Stage for Accelerated Growth Global CDMO M&A More than 15 commercial launches in Global CDMO Positive M&A outcomes and New Strategic Movement - 15+ commercial products manufacturing 1st ophthalmic commercial product - 10+ new customers/projects USL 4 new molecu
Slide 17: Continued Commitment of Sustainable Growth to All Shareholders
Continued Commitment of Sustainable Growth to All Shareholders M&A Unit: NT$ mn Organic Growth Sales M&A + USL Net Income 14,200 Organic Growth 10,494 4,900 + USL 1,372 1,529 1,800 3,072 238 283 358 1,402 4 97 17 218 34 25 15 445 305 578 750 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 202
Slide 18: Largest CDMO and Pharma Manufacturer in Taiwan
LARGEST CDMO and Pharma manufacturer in Taiwan with aggressive global growth plan Experienced LEADERSHIP team STRONG GROWTH in with proven track record of delivering CDMO and Rx Market continues to results and consistently outperforming have high demand and attractive the market CAGR 保瑞集團 Bora Group
Slide 19: Thank You!
eee Thank You ! Bora : fe Pharmaceuticals