PharmaNutra S.p.A. · MIL:PHN
PharmaNutra — FY2023 Earnings Presentation
24 slides from PharmaNutra's earnings presentation, Mar 15, 2024
Slide 1: Pharmanutra Group FY 2023 Financial Results
PHARMANUTRA GROUP FY_2023 FINANCIAL RESULTS March 15th, 2024
Slide 2: Disclaimer
2 DISCLAIMER This document has been prepared by Pharmanutra S.p.A. (the “Company”) for use during meetings with investors and financial analyst and is solely for information purposes. It contains solely data and information provided by the Company or already in the public domain. This Document may n
Slide 3: Highlights 2023
HIGHLIGHTS 2023 \ f @MPHARMANUTRA MIND S| Oe ————eeEe—————
Slide 4: Highlights FY 2023
4 HIGHLIGHTS FY 2023 ▪ Net Revenues € 100 Million reached in the year of 20th anniversary since establishment. ▪ Launch of the new line of products dedicated to sports nutrition: Cetilar® Nutrition. Set-up of Pharmanutra USA and establishment of Pharmanutra España. ▪ Completion of the new Group’s he
Slide 5: Highlights FY 2023
5 HIGHLIGHTS FY 2023 ▪ Secured long term loan amounting to € 12M obtained by BPM to finance the new headquarters construction. ▪ Signing of 8 new Distribution Agreements for the distribution of products from the SiderAL® and Cetilar® lines in Asia, South America, Central America and Europe. ▪ Defini
Slide 6: Economic and Financial Data
ECONOMIC AND FINANCIAL DATA @PHARMANUTRA
Slide 7: Highlights FY 2023
7 HIGHLIGHTS FY 2023 ▪ 21,1% Increase in Net Sales Revenues + 21,1% NET REVENUES € 100 M ▪ Investments related to new businesses for € 4,6M have limited the EBITDA increase to 8,7% . ▪ 26,4% EBITDA margin on net revenues. EBITDA margin EBITDA € 26,5 M related to the recurring business 30,4% (29,4% i
Slide 8: Net Revenues
8 NET REVENUES Net revenues at 31.12.2023 accounted for € 100.2 million, recording an historic milestone with a growth of 21,1% compared to the previous year. Revenues on domestic market grew by 14,8% while revenues on the foreign market recorded a growth of 37,2%. Akern’s net revenues accounted for
Slide 9: Net Revenues Growth
NET REVENUES GROWTH g 120,000 g 100,203 = — 100.000 82.724 80.000 32.228 68.114 EH 56.449 60.000 53.624 46.673 tele UE 40.000 37.794 12.366 8.113 wena RATES 67.975 20.000 ER 34.307 39.993 . f°) 2017 2018 2019 2020 2021 2022 2023 @PHARMANUTRA Miltaly mi Rest of the World
Slide 10: Profit and Loss
10 PROFIT AND LOSS PHN GROUP PROFIT AND LOSS (€/000) 31/12/2023 31/12/2022 REVENUES A) REVENUES 101.963 83.394 Net Revenues 100.202 82.724 Consolidated revenues accounted for € 100 million with an increase of 21% compared to the previous year. The increase is the result of higher Other revenues 1.76
Slide 11: Reclassified Consolidated Balance Sheet
11 RECLASSIFIED CONSOLIDATED BALANCE SHEET Amounts in €/000 31/12/2023 31/12/2022 ∆ 2023 vs 2022 Operating Working Capital The increase in inventories refers to the implementation of Trade receivables 19.219 21.647 -2.428 purchasing strategies. Inventories 8.166 5.261 2.905 Other Receivables/Other P
Slide 12: Consolidated Cash Flow
12 Cash Flow (€/000) 31/12/2023 31/12/2022 CONSOLIDATED CASH FLOW Net Result 12.832 15.048 CASH FROM OPERATING ACTIVITIES NON MONETARY EXPENSES Amortization, depreciation and w.o. 3.124 1.319 Change in operating working capital Accrual for employees benefits 912 807 Increase in inventories for the i
Slide 13: Net Financial Position
13 NET FINANCIAL POSITION NFP The decrease in NFP compared to 31.12.2022 is mainly due to capital expenditures related to the construction of the new Headquarter and other operating capex (€ 13,3 million), to the purchases of treasury shares (€ 1,7 million), to the dividend distribution (€ 7,7 milli
Slide 14: Dividend Per Share
14 DIVIDEND PER SHARE Dividend Distribution In line with the consolidated dividends distribution policy, the proposed dividend represents 52% of the consolidated Net result excluding non-recurring items. Notes *DPS 2018 includes 0,42 from Pay-out and 0,08 from the benefit related to the 2015- 2017 R
Slide 15: Market
MARKET / — @PHARMANUTRA WPRAVAA TOO ee 7mm
Slide 16: Trend IMS & OD
Trend IMS & OD Thousand @PHARMANUTRA 8 é YTD 31/12/2021 IMS+OD (Units) YTD 31/12/2022 miMS mOD YTD 31/12/2023
Slide 17: Iron Supplements SiderAL Market Share in Italy
17 IRON SUPPLEMENTS SIDERAL® MARKET SHARE IN ITALY Excluding products that contain only lactoferrin Source IQVIA
Slide 18: Anti-Inflammatory Topical Cream Cetilar Market Share in Italy
18 ANTI-INFLAMMATORY TOPICAL CREAM CETILAR® MARKET SHARE IN ITALY Source IQVIA
Slide 19: Apportal Compared to the Reference Markets
19 APPORTAL® COMPARED TO THE REFERENCE MARKETS Source: Newline ricerche di mercato
Slide 20: Worldwide Market
20 WORLDWIDE MARKET UNITS SOLD 2023 Europe: 3.999 K (+35%) Middle East: 4.317 K (+23%) South America: 455 K (+69%) Others: 476 K (+11%) Italy: 4.453 K (+10%) TOTAL: 13.700 K (+22,4%) Helping to improve the life’s quality of billions of people in the world is our main challenge. PharmaNutra operates
Slide 21: Outlook 2024
OUTLOOK 2024 N f @PHARMANUTRA LS SS _—=E———————ee
Slide 22: Outlook 2024
22 OUTLOOK 2024 ▪ 2024 will be a challenging year both for maintaining the organic growth of the recurring business and for the development of the new projects launched in 2023 (Cetilar® Nutrition, Pharmanutra Usa and Pharmanutra España). The first quarter 2024 is expected to be in line with that of
Slide 23: Outlook 2024
23 OUTLOOK 2024 ▪ As part of the process of joining the cooperative compliance institution, the project aimed to providing the Company with the Tax Control Framework was started. It will be an internal control system dedicated to the identification and management of tax risk, which is part of the co
Slide 24: Pharmanutra
Q@PHARMANUTRA