Ibnsina Pharma · EGX:ISPH
Ibnsina Pharma — Q3 2024 Earnings Presentation
19 slides from Ibnsina Pharma's earnings presentation, 2024
Slide 1: Q3 Business Review
Q3 Business Review Investors 1
Slide 2: Pharma Market: Total Pharma Market Growth
Pharma Market: Total Pharma Market Growth Exchange Rate pressure EDA to increase Prices resulting in a double-digit growth in market value 56bn - 39% Growth in Value 9M, 2023: 144bn 9M, 2024: 201bn 80.9 61.9 60.9 57.2 58.74 45.7 42.5 43.2 41.5 39.4 36.1 36.7 36.7 32.7 32.7 33.6 29.6 29.8 27.7 Q1, 20
Slide 3: Pharma Market: Growth Drivers
Units Sold ASP Pharma Market: Growth Drivers 9M 24 vs 9M 23 9M 24 vs 9M 23 Growth leveraged by “Average Selling Price” growth compensating decline in “Units sold” 5% 47% 1 0 1,023 97 41% 1 0 0 948 958 949 960 927 938 % of Av. contribution of 905 9 0 900 893 887 repriced items to regulated 877 847 83
Slide 4: ISP's Strategic Pillars: Achieving Perfect Strategic Alignment
ISP’s Strategic Pillars: Achieving Perfect Strategic Alignment Putting ISP’s strategic pillars at the heart and sight of all business and functional operations to navigate through rough market situation Diversification Sustainable Growth 25% of Net Profit from non- 76% growth in Pharmacies core acti
Slide 5: Financial Performance Highlights: 9M, 2024
Financial Performance Highlights: 9M, 2024 Key highlights on 9M business results 30% 63% 73% 134% YTD Market YTD Growth in Growth in Growth in Share Revenue EBITDA Net Profit +6% 39.8bn 1.7bn 407mn 18.5% 1.2bn 19% 301mn Debt Ratio CFO Growth in vs 280, 9M 23 Total CAPEX Vs 25%, 9M 23 Units Net CFO:
Slide 6: Market Share: ISP Market Share based on Value
Q3 MS Market Share: ISP Market Share based on Value 2024: 30.8% Ibnsina Pharma leads the market in June 2024 in value & units 2023: 23.8% 4 .0 % 3 0 % 3 .5 0 % 29.80% 29.17% 3 .0 % 27.01% 2 .5 0 % 2 5 % 23.9% 24.0% 23.9% 24.3% 1 2 .0 % 1 .5 0 % 21.33% 20.58% 20.41% 2 0 % 20.01% 1 .0 % 0 .5 0 % 1 5 %
Slide 7: Consolidated Revenue Analysis: Growth
9M 24 vs 23 Unit G 9M 24 vs 23 Value G Consolidated Revenue Analysis: Growth 19% 63% Ibnsina Group achieves 73% QoQ revenue growth rate in Q3, 2024 122.0mn 15.3bn 2021 Revenue: 22.4bn 2022 Revenue: 22.9bn 2023 Revenue: 35bn 2024 YTD R: 39.8bn 1 8 ,0 0 2 3 5 % 1 6 ,0 0 16,205 1 4 ,0 0 1 8 5 % 1 2 ,0
Slide 8: Pharma Revenue Analysis: Segments' Growth
9M 24 vs 23 Value G Pharma Revenue Analysis: Segments’ Growth Addressing customer segments individually, achieving remarkable growth figures primarily 63% from cash segments 15.3bn 2023 Revenue: 34.7bn 9M, 2024: 39.6bn Hospital 9M 2023: 24.3bn 17% Hospital 16,109 14 19% Cash 12,617 Pharm. Segments’
Slide 9: Gross Profit: Gross Profit Analysis
Gross Profit Growth Gross Profit: Gross Profit Analysis 9M 24 vs 9M 23 Achieving new heights of Gross Profit due to focus on CDG and GDT, ensuring sustainability of growth against rising economic challenges 62% 2021 GP: 1.63 2022 GP: 1.61 2023 GP: 2.52 9M 2024 GP: 3.00 Cash Discount Given YoY Growth
Slide 10: OPEX Optimization: EBITDA-M vs OPEX to Sales
OPEX Optimization: EBITDA-M vs OPEX to Sales Cumulative EBITDA margin continues its steady incline against a steady OPEX : Sales decline, reflecting effective optimization efforts, paving the way to a healthy bottom line OPEX vs EBITDA (% of Sales - QOQ) EBITDA Value EBITDA Value 994mn 1,721mn +727m
Slide 11: Digitalization: Key Digital Products
9M Digital Sales Growth Digitalization: Key Digital Products 3,180mn Ibnsina builds digital capability to further secure sustainability, streamline processes, 148% Contribution: 16% (+1,895mn vs 23) strengthen ties with customers and suppliers, through a variety of digital solutions (vs 11%, 9M 2023
Slide 12: Income Statement: 9M, 23 vs 9M, 24
Income Statement: 9M, 23 vs 9M, 24 ISP Consolidated 134% growth in NP collectively despite set-backs in subsidiaries performance and due to the solid ISP Standalone position of Ibnsina Pharma AIM Consolidated Gross Sales (Growth: 63 %) Gross Profit (Growth: 62%) OPEX (Growth: 44%) EBITDA (Growth: 73
Slide 13: Financial Expenses: Debt Levels vs Interest Expense
Financial Expenses: Debt Levels vs Interest Expense Healthy spread maintained between EBITDA and Financial Expenses, with a record spread difference of 1.7% in 9M 2024 FY, 2022 Interest Expense: 477mn FY, 2023 Interest Expense: 1,044mn 9M, 23: 734mn 9M, 24: 1,202mn – 64% 8 0 4,129 4.5% 6 0 . 0 % 1 0
Slide 14: Net Debt Optimization: Most Indicative Financial Ratios on Debt
Rev. vs ND Growth Net Debt Optimization: Most Indicative Financial Ratios on Debt 9M 2024 Healthy drop in net debt to equity, net debt to EBITDA, and Debt Ratios reflecting 63% positive balance sheet performance Net Debt Decrease: 2% Net Debt to Equity TTM Net Debt to EBITDA 2.89 2.85 4.96 2.67 2.58
Slide 15: Non-pharma Distribution: Revenue Analysis & Customer Portfolio
Non-pharma Distribution: Revenue Analysis & Customer Portfolio Non-pharma Distribution Business Model – Higher Margin Business Line with Great Potential – Picking up the pace, contributing with significance to bottom line FY, 2022: 455mn – YoY G: 9% FY, 2023: 1,266mn – YoY G: 278% FY, 2024: 3,082mn
Slide 16: Medical Promotions: Clients & P&L Analysis
Total MP Performance YTD Sep 24 Medical Promotions: Clients & P&L Analysis MP Revenues MP Net Profit NPM High synergy diversification model with great impact on ISP’s growth performance with attractive NPM 94mn 40.8mn 44% Medical Promotion Outsourcing Overview Medical Promotion Outsourcing Overview
Slide 17: Ramp Logistics Review: Service Outline & Top Line Overview
Ramp Logistics Review: Service Outline & Top Line Overview Multiple revenue streams and increase in customers on-board; showing potential Services Revenue Analysis P&L Client Portfolio 1 8 0 61% 7 0 % 7 Sites, 40,000 PP 20k Dry, 20k Ambient 161 East & West Cairo 1 6 0 19 6 0 % 1 4 0 3000 shipment/mo
Slide 18: ISPH Stock Performance: ISPH Stock Price
ISPH Stock Performance: ISPH Stock Price Ibnsina’s shareholder’s structure witnesses a significant increase in the institutions’ share compared to retail in 9M, 2023 Shareholder Structure ISP vs EGX Retail : Institution Jan – June. 2024 5.81 6 4 0 0 33,383 14.4% 5 .5 30,774 5.2 3 5 0 0 33.1% 5 26,83
Slide 19: ibnsinapharma
ibnsinapharma