Bora Pharmaceuticals Co Ltd · TWSE:6472
Bora Pharmaceuticals — FY2023 Earnings Presentation
21 slides from Bora Pharmaceuticals's earnings presentation, March 2024
Slide 1: FY2023 Results
Bora e Pharmaceuticals FY2023 RESULTS March 2024
Slide 2: Agenda
Agenda Recent Development & Operational Updates Financial Highlights 2024 Strategic Deliverables & YTD Progress Q&A
Slide 3: FY2023 Operational Highlights
FY2023 Operational Highlights
Slide 4: FY2023 EPS over NT$30 Sets New Record for TW Pharma Sector
FY2023 EPS over NT$30 Sets New Record for TW Pharma Sector Robust Business Growth • 2023 consolidated revenue reached NT$14.2 billion, growing over 35% year-on-year • 36% of total revenue Global CDMO YoY + Produced 1.4 billion small molecule doses of drugs in 2023, including 6 new commercialized pro
Slide 5: Global CDMO – Strengthening Scale & Capabilities
Global CDMO – Strengthening Scale & Capabilities Expanding Scale and Unique Competitive Expanding Dosage Forms Customer Base Advantage • OSD • 1.4 Billion Doses produced in • Large Pharma quality with Small Bio • Nasal Spray 2023 attention • Ophthalmic • 6 commercial launches – 2 in • Dev to Commerc
Slide 6: Global Commercial Sales – Diversifying Product Portfolio
Global Commercial Sales – Diversifying Product Portfolio • Diltiazem Hydrochloride ER Capsules 60mg, 90mg, 120mg 3 ANDA Approval • • Dicyclomine HCL Tablet Topiramate Capsule • Dexlansoprazole：Launched TWI ANDA • Dicyclomine HCl Capsules：Launched 3 months advance than planned US • Potassium Chloride
Slide 7: Global Commercial Sales – More Synergies from BH/SW Integration
Global Commercial Sales – More Synergies from BH/SW Integration • Existing licensed-in products continue to grow: • Numient +138% YoY Drug • Const-K +118% YoY • Newly-added portfolio boost the momentum: • LundBeck’s Brintellix 5mg/10mg launched 6 months ahead of schedule • Bora Health outstanding li
Slide 8: FY2023 Financial Highlights
FY2023 Financial Highlights
Slide 9: Strong Growth Momentum by “Dual-Engine” Strategies
Strong Growth Momentum by “Dual-Engine” Strategies Growth Drivers Revenue Breakdown Commercial Sales, FY2023 = CDMO, 62% NT$14,200mn 36% FY2022 = NT$10,494mn TW, 1% BH + SW, US Others, 6% 11% FFV, 2% KCL, 3% DTC, 4% DLS, 55% PAC, 18% *2% Other Revenue 9
Slide 10: Q4’23 & FY2023 Financials
Q4’23 & FY2023 Financials Financial Highlights Key Financials YoY YoY (in NTD millions, except for EPS) FY2023 FY2022 % Q4'23 Q4'22 % Revenue 14,200 10,494 35% 3,206 5,298 -39% COGS (7,209) (7,582) (1,509) (4,205) Gross Profits 6,991 2,913 140% 1,697 1,093 55% GM % 49% 28% 53% 21% S&M (447) (260) 72
Slide 11: Another Record Year with Profits Doubled
Another Record Year with Profits Doubled Revenue (NT$’mn) Gross Profits (NT$’mn) 6,991 14,200 10,494 2,913 1,672 704 4,900 1,800 2020 2021 2022 2023 GM (%) 39% 34% 28% 49% 2020 2021 2022 2023 Operating Income (NT$’mn) Net Profits (NT$’mn) 5,249 3,072 1,922 1,402 1,046 578 750 226 2020 2021 2022 2023
Slide 12: Increasing Profits Create Strong Cash Flows
Increasing Profits Create Strong Cash Flows Net Profits (NT$’mn) Equity v.s. Debt to Asset (NT$’mn) Equity Debt to Asset (%) 3,072 14,000 90% 77% 11,766 80% Cash 12,000 1,851 Retained at 65% 70% Company 10,000 1,402 60% 750 8,000 57% 50% 578 785 53% 1,215 Cash Paid to 40% 510 Shareholders 6,000 5,14
Slide 13: 2024 Strategic Deliverables & YTD Progress
2024 Strategic Deliverables & YTD Progress
Slide 14: Multiple Growth Drivers to Set the Stage for Accelerated Growth in 2024
Multiple Growth Drivers to Set the Stage for Accelerated Growth in 2024 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 ✓ Multiple clients progress development
Slide 15: Key Foundation for Exponential Growth in 2024
Key Foundation for Exponential Growth in 2024 Scope of Deal • The only facility built in the past decade over 600,000 sq ft. • Both Plymouth and Maple Grove sites are CDMO USFDA approved and provide commercial Facilities production into US market • Maple Grove was newly invested and upgraded $130m f
Slide 16: CDMO Global Expansion
CDMO Global Expansion – Becoming one of the largest OSD Manufacturer in the US "The recently expanded Maple Grove plant is four times larger than Bora 's Zhunan plant." Location Maple Grove Plymouth Facility Inception 2003 (original) 1977 + 2022 (expansion) Total Sq. Ft. 612,396 ft2 92,654 ft2 Manuf
Slide 17: CDMO Global Expansion – Presence in the Largest US Market
CDMO Global Expansion – Presence in the Largest US Market with Complete Infrastructure Plymouth + Maple Grove, Minnesota • Oral Solids • tablets, coated/ uncoated (immediate, delayed, and extended release) • hard-gelatin capsules (immediate, and modified release) • Powders (oral and topical) • Liqui
Slide 18: Global Commercial Operations
Global Commercial Operations – Complementing existing Product Portfolio and Distribution Channel Gel, 4% Suspension/ Granule Solution , 23 Approved ANDAs 48 Commercial Products /Power, 9% 4% Tablet, 64% Capsule, 19% Generics 5 Pending Approval 17 Pending for Launch/ Approval 5+ Active R&D Projects 3
Slide 19: Synergies to Realize
Synergies to Realize • Bora’s 1st local facility in the US – to be dedicated for US-based/international CDMO customers Commercial • Leveraging Bora’s global CDMO business development to increase utilization and specializing in brand/specialty CDMO products contract manufacturing Operation • Integrat
Slide 20: 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 21: Thank You !
bord Pharmaceuticals Thank You ! Bora oe