Slide 1: First quarter results 2015
2015 First quarter results CONFERENCE CALL – 5 MAY 2015
Slide 2: First quarter 2015 highlights
First quarter 2015 highlights • Revenue € 275.7 million, up 5.9% • EBITDA € 82.8 million or 30.0% of sales, up 15.9% • Operating income (EBIT) € 73.5 million or 26.6% of sales, up 18.1% • Net income € 52.0 million or 18.8% of sales, up 21.5% • Net debt € 136.8 million, a reduction of € 49.2 million
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 58.4% of revenue (million Euro) 1Q 2015 1Q 2014 Change % Zanidip® (lercanidipine) 33.8 31.3 8.1 Zanipress® (lercanidipine+enalapril) 16.9 15.7 7.3 Urorec® (silodosin) 16.0 14.5 10.8 Livazo® (pitavastatin) 5.9 6.4 (8.
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 13.2% Drugs for rare diseases 13.6% Livazo 2.1% Urorec 5.8% OTC 19.1% Zanipress 6.1% Zanidip 12.3% Subsidiaries’ local product portfolios 23.4% Pharmaceutical chemicals 3.2% Methadone ‐ France 3% Other revenue 1.2% Peptazol® (pantoprazole) ‐ I
Slide 5: Composition of revenue by geography
Composition of revenue by geography Solid volume growth (million Euro) 1Q 2015 1Q 2014 Change % Italy 60.3 65.1 (7.4) France 28.7 27.8 3.1 Germany 22.2 19.6 13.1 Turkey 21.1 16.4 28.5 U.S.A. 20.7 11.4 81.0 Russia, other CIS countries and Ukraine 18.0 19.6 (8.3) Spain 16.9 17.5 (3.3) North Africa 10.
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 16.9% (sales to licensees and exports) Italy 22.6% Other W. Europe 2.3% Other CEE 2.9% Portugal 3.5% North Africa 4.0% France 10.8% Spain 6.3% Germany 8.3% Russia, other CIS and Ukraine 6.7% U.S.A. 7.8% Turkey 7.9% Data: Firs
Slide 7: First quarter 2015 results
First quarter 2015 results Further margin growth (million Euro) 1Q 2015 1Q 2014 Change % Revenue 275.7 260.4 5.9 Gross Profit 187.5 173.4 8.1 as % of revenue 68.0 66.6 SG&A Expenses 93.3 90.0 3.7 as % of revenue 33.9 34.6 R&D Expenses 19.9 20.8 (4.3) as % of revenue 7.2 8.0 Other Income (Expense), n
Slide 8: Operating segments
First quarter 2015 results Operating segments Revenue EBIT Treatments for rare diseases 13.6% Treatments for rare diseases 21,4% Primary & specialty care Primary & specialty care 86.4% 78,6% EBIT margin on sales: Treatments for rare diseases, 42.0% Primary & Specialty care, 24.2% 8
Slide 9: Financial position and Shareholders' equity
Financial position and Shareholders’ equity (million Euro) 31 Mar 2015 31 Dec 2014 Change Cash and short‐term financial 187.1 137.0 50.1 investments Bank overdrafts and short‐term loans (8.0) (8.6) 0.6 Loans – due within one year (28.3) (28.3) 0.0 Loans – due after one year (287.6) (286.2) (1.4) NET
Slide 10: Financial projections 2015 targets
Financial projections 2015 targets 2014 2015 (million Euro) Actual Targets Revenue 987.4 > 1,000 Operating income 231.0 ± 250 (EBIT) Net Income 161.2 ± 175 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