Bausch Health Companies Inc. · TSX:BHC
Bausch Health Companies — Q1 2013 Earnings Presentation
15 slides from Bausch Health Companies's earnings presentation, May 2, 2013
Slide 1: First Quarter 2013 Financial Results Conference Call
First Quarter 2013 Financial Results Conference Call May 2, 2013
Slide 2: Forward-looking Statements
Forward-looking Statements Forward-looking Statements Certain statements made in this presentation may constitute forward-looking statements, including, but not limited to, statements regarding the performance of our business, synergies, timing of timing of product exclusivity and financial guidance
Slide 3: Agenda
Agenda 1. First Quarter Results 2. Financial and Deal Updates 3. 2013 Guidance Update 2
Slide 4: Strong 1Q Earnings and Cash Generation Performance
Strong 1Q Earnings and Cash Generation Performance Q1 2013 Q1 2013 Q1 2012 vs 2012 Product Sales $1.039 B $751M 38% Total Revenue $1.068 B $790M 1 35% Cash EPS $1.30 $0.91 1 43% Adjusted Cash Flow $345 M $255 M 1 35% 1 Excludes gains on the divestiture of two dermatology products and a foreign excha
Slide 5: 1Q 2013 Organic Growth
1Q 2013 Organic Growth Same Store Sales As Reported Excluding Generic Impact U.S. Promoted 1 6% 12% U.S. Neuro 2 -10% -10% Canada / Australia -11% 5% Central/Eastern Europe 11% 11% Latin America 7% 7% South East Asia/South Africa 28% 28% Pro Forma U.S. Promoted 1 0% 2% U.S. Neuro 2 -4% -4% Canada /
Slide 6: Key U.S. Brands Performance vs. Budget
Key U.S. Brands Performance vs. Budget Acanya Arestin AcneFree CeraVe Ziana Solodyn Zyclara Dysport Restylane Perlane 5
Slide 7: Customer Focus – Senior Management
Customer Focus – Senior Management Conferences Attended To Date (with one-on-one meetings) Maui Derm & Maui Derm NP + PA Winter Clinical Derm (Hawaii Derm) ABAM (American-Brazil Aesthetic Meeting) Noah Worcester Derm Society AAD Winter Meeting (American Academy of Dermatology) ASAPS (A
Slide 8: Emerging Markets - Strong Growth
Emerging Markets - Strong Growth ($ in millions) Total Product Sales - LTM Q1 2013 Organic Growth Eastern/ Central Europe Q1’ 13 Latin America Q1’ 13 South East Asia/South Africa Q1’ 13 7
Slide 9: Financial and Deal Updates
Financial and Deal Updates Howard Schiller
Slide 10: Financial Summary
Financial Summary Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Product Sales $751M $743M $853M $942M $1,039M Ongoing Service/Alliance Revenue $39M $32 M $31M $44 M $29M Total Revenue excl. “one-timers” $790M $775M $884M $986M $1,068M One-time items $66 M $45 M N/A N/A N/A Total Revenue $856M $820M $884M
Slide 11: Medicis Deal Upsides
Medicis Deal Upsides >$300 million synergies run rate expected by year end Up from >$225 million original estimate Ziana extended to July 2016 from 2013 Zyclara extended to January 2019 from 2013 - 2015 Over achieved corporate structure efficiencies 10
Slide 12: Q1 2013 LTD Medicis Project Related Costs
Q1 2013 LTD Medicis Project Related Costs ($ in millions) Restructuring Related Costs Amount Paid Severance Payments $99.5 Acquisition Related Costs Paid to 3 rd Parties $24.1 Integration Related Consulting, Duplicative Labor, $14.3 Transition Services, and Other Costs Incurred to date to Achieve Sy
Slide 13: Update on Obagi
Update on Obagi Closed transaction April 25 All personnel notified of status April 26 Consolidated Irvine office into Long Beach April 28 Current sales force of ~95 people Synergy run rate of at least $50 million expected 12
Slide 14: Annual Financial Guidance for 2013
Annual Financial Guidance for 2013 Previous Guidance As of May 2, 2013 Revenue $4.4 - $4.8 Revenue $4.4 - $4.8 billion billion $5.45 - $5.75* Adjusted $5.55 - $5.85 Adjusted Cash EPS Cash EPS $1.5 - $1.75 billion in $1.5 - $1.75 billion in Adjusted Cash Flow Adjusted Cash Flow from from
Slide 15: First Quarter 2013 Financial Results Conference Call
First Quarter 2013 Financial Results Conference Call May 2, 2013
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