Slide 1: 2013 Preliminary results, 2014 Outlook
2013 Preliminary results 2014 Outlook 11 FEBRUARY 2014
Slide 2: Full year 2013 highlights
Full year 2013 highlights • Revenue € 941.6 million, up 13.7% • EBITDA € 230.1 million or 24.4% of sales, up 20.0% • Operating income (EBIT) € 195.4 million or 20.8% of sales, up 17.0% • Net income € 133.7 million or 14.2% of sales, up 12.8% • Successful conclusion of the acquisition of a portfolio
Slide 3: Main product sales
Main product sales Corporate products including orphan drugs account for 49.1% of revenue (million Euro) 2013 2012 Change % Zanidip® (lercanidipine) 108.9 114.6 (5.1) Zanipress® (lercanidipine+enalapril) 59.8 49.3 21.3 Urorec® (silodosin) 46.7 32.7 42.8 Livazo® (pitavastatin) 22.5 16.3 38.1 Other co
Slide 4: A diversified product portfolio
A diversified product portfolio Orphan drugs 13.6% Other corporate products 9.0% Livazo 2.4% OTC 16.1% Urorec 5.0% Zanipress 6.4% Subsidiaries’ local product portfolios 31.7 Zanidip 11.5% Entact®/Elopram® 4% (escitalopram/citalopram) ‐ Italy Methadone ‐ France 3% Pharmaceutical chemicals 3.4% Peptaz
Slide 5: Composition of revenue
Composition of revenue New products and new markets drive growth (million Euro) 2013 2012 Change % Italy 222.7 214.7 3.7 France 115.1 120.2 (4.3) Russia and other CIS countries 89.4 51.3 74.3 Germany 81.4 70.9 14.7 Turkey 65.7 65.1 0.9 U.S.A. 51.6 7.4 n.s. Spain 37.9 33.3 13.8 Portugal 32.9 33.9 (2.
Slide 6: A growing presence in Russia & CIS, Germany, Poland and Spain
A growing presence in Russia & CIS, Germany, Poland and Spain. New sub in the US and in Tunisia. Other international sales 14.6% (sales to licensees and exports) Italy 24.5% Other CEE 3.7% Other W. European countries 2.8% North Africa 2.4% Portugal 3.6% Spain 4.2% France 12.6% U.S.A 5.7% Turkey 7.2%
Slide 7: Full year 2013 results
Full year 2013 results Significant sales and earnings growth (million Euro) 2013 2012 Change % Revenue 941.6 828.3 13.7 Gross Profit 614.3 534.8 14.9 as % of revenue 65.2 64.6 SG&A Expenses 329.3 296.1 11.2 as % of revenue 34.9 35.8 R&D Expenses 74.7 63.4 17.8 as % of revenue 7.9 7.7 Other Income (E
Slide 8: Financial position and Shareholders' equity
Financial position and Shareholders’ equity (million Euro) 31 Dec 2013 31 Dec 2012 Change Cash and short‐term financial 52.3 38.4 13.8 investments Bank overdrafts and short‐term loans (34.0) (56.0) 22.0 Loans – due within one year (82.5) (8.1) (74.4) Loans – due after one year (196.8) (127.7) (69.1)
Slide 9: 2014 Outlook - Assumptions
2014 Outlook ‐ Assumptions • Lercanidipine franchise to remain relatively stable generating sales going forward of between € 160 and € 165 million. • Sales of Urorec® to increase by more than 25%. Sales of Livazo® to increase by more than 20%. • Orphan drug sales to be impacted by termination of lic
Slide 10: 2014 Outlook: Expected evolution of product portfolio and geographical presence
2014 Outlook Expected evolution of product portfolio and geographical presence Other revenue;Pharmaceutical 1% chemicals; 4% Zanidip; 9% Zanipress; 6% Other local products; 28% Urorec; 6% Livazo; 3% Other int'l sales; 14% Italy; 20% Other corporate USA; 5% products; 12% France; 11% North Africa; 4%
Slide 11: 2014 Outlook Objectives
2014 Outlook Objectives • Consolidated sales of more than € 1 billion, to grow by more than 6%, despite Adagen® and Entact® license terminations. • Margin improvement • EBIT to exceed € 220 million, 22% of sales • Net Income to exceed € 150 million, 15% of sales • No new acquisitions, milestones or
Slide 12: Financial projections 2014 targets
Financial projections 2014 targets 2013 2014 (million Euro) Actual Targets Revenue 941.6 > 1,000 Operating income 195.4 > 220 (EBIT) Net Income 133.7 > 150 12
Slide 13: 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