Moberg Pharma Ab · OMXSTO:MOB

Moberg Pharma Ab — Q2 2015 Earnings Presentation

19 slides from Moberg Pharma Ab's earnings presentation, Aug 11, 2015

  1. Slide 1: Moberg Pharma Interim Report Jan-Jun 2015

    MOBERG PHARMA AB (PUBL) Interim Report Jan-Jun 2015 Combining Commercial and Innovation Excellence to Develop Unique Products for Underserved Niches Press conference, August 11, 2015 at 15:00 a.m. (CET) Dial-in number: SE: +46 8 566 427 00, US: +1 855 831 59 45 Peter Wolpert, CEO and Founder

  2. Slide 2: Disclaimer

    Disclaimer Statements included herein that are not historical facts are forward-looking statements. Such forward- looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, Moberg Pharma’s results could

  3. Slide 3: Highlights – Q215

    Highlights – Q215

  4. Slide 4: 2015 Q2 Highlights

    2015 Q2 Highlights  Net sales grew by 60% to MSEK 92 (40% at fixed exchange rates) – Growth across all areas of the business – Strong U.S. growth and launches in Asia key drivers  Profitability and cash flow improvement – EBITDA margin of 12% / 15%* – EBITDA Commercial Operations of 18% / 21%* for

  5. Slide 5: Growth driving significant improvement in profitability

    Growth driving significant improvement in profitability H1 2015 H1 2014 Net Sales, MSEK EBITDA, MSEK EBITDA Commercial Operations, MSEK 165.3 (+57%) 14% 17% 21% 25% 105.5 41.9 (+85%) 28.5 (+98%) 22.6 14.4 NOTE: EBITDA Commercial Operations does not include R&D and Business Development expenses 4 for

  6. Slide 6: 21 consecutive quarters of Sales growth

    21 consecutive quarters of Sales growth Product Sales, TTM, MSEK 300 250 200 150 100 50 0 5

  7. Slide 7: Progress in Commercial Operations and Innovation Engine

    Progress in Commercial Operations and Innovation Engine

  8. Slide 8: Focus on strategic brands

    Focus on strategic brands Strategic brands  Kerasal® - Foot care Emtrix®  Balmex ® - Diaper rash  Domeboro® - Derma/Skin irritation Mature brands  Jointflex® - External analgesic  Vanquish® - Internal analgesic  Fergon® - Iron supplement 7

  9. Slide 9: Closed Balmex acquisition on April 24

    Closed Balmex acquisition on April 24  Acquired from Chattem (Sanofi) for $3.9 million (MSEK 33.3) – Sales trending above $4 million annually – Deal financed with existing funds  Strong heritage in baby diaper rash with broad distribution in major chains:  Brand integration fully underway. New co

  10. Slide 10: Distributor Sales well positioned for further growth

    Distributor Sales well positioned for further growth  Sales in >40 markets  Continued growth in Canada  Slight decline in Europe in Q2, but H1 growth of 14%  Asian launches progresses well and rapid growth of sales (incl. inventory build-up) - Malaysia - Hong Kong - Singapore - China - Additiona

  11. Slide 11: Pipeline assets - Building on Topical drug delivery know how

    Pipeline assets - Building on Topical drug delivery know how Peak sales Pipeline Indication Status potential, m$ USP asset MOB-015 Onychomycosis Ph III 250-500 Topical terbinafine with fast visible preparation improvement and superior cure rates BUPI Oral Mucositis Phase II 50-100 Lozenge formulatio

  12. Slide 12: MOB-015 – USPs, Strategy and market update

    MOB-015 – USPs, Strategy and market update USPs Targets a superior profile, in mild to moderate onychomycosis based on phase II data and experience from the OTC product (>600 patients in clinical trials and >5 million units sold to date): 1 Superior cure rates – Mycological and Clinical 2 Shorter tr

  13. Slide 13: Financials

    Financials

  14. Slide 14: P&L summary – Sales growth and increased profitability

    P&L summary – Sales growth and increased profitability Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full-year P&L Summary (MSEK) 2015 2014 2015 2014 2014 Revenue 92 57 165 105 200 Gross profit 72 45 128 83 151 % 78% 78% 78% 78% 75% SG & A -51 -32 -85 -56 -106 R&D - existing product portfolio1) -3 -2 -4 -4 -7 Oth

  15. Slide 15: Majority of revenue from direct OTC sales – Launches in Asia

    Majority of revenue from direct OTC sales – Launches in Asia drives RoW product sales Distribution of revenue, January – June 2015 Other RoW JointFlex 15% 13% 11% Sales via distributors 31% Kerasal Europe 11% Americas 16% Direct OTC Nalox/ 71% Sales 69% Kerasal Nail 62% Channels Products Geography 1

  16. Slide 16: Revenue growth was 60% in Q2, Kerasal Nail and new products main growth drivers

    Revenue growth was 60% in Q2, Kerasal Nail and new products main growth drivers Revenue by channel Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full-year (KSEK) 2015 2014 2015 2014 2014 Direct sales 67 38 114 72 139 Sales of products to distributors 25 20 49 32 59 Milestone payments 0 - 2 2 2 TOTAL 92 58 165 105

  17. Slide 17: Solid cash position, positive cash flow and low debt

    Solid cash position, positive cash flow and low debt Jan-Jun 2015 Jan-Jun 2014 Operative cash flow +17 MSEK +3 MSEK Cash position 35 MSEK 76 MSEK Cash position inclusive of Balmex acquisition in April, consideration 33 MSEK (3.9 MUSD), financed with existing funds 16

  18. Slide 18: Focus next 12 months

    Focus next 12 months

  19. Slide 19: Focus next 12 months

    Focus next 12 months PROVIDING UNIQUE PRODUCTS IN UNDERSERVED NICHES  Drive growth and EBITDA improvements  Fuel strong U.S growth - Kerasal franchise and brand development Long-term target - Integration of Balmex Create shareholder value  Grow Distributor Sales through a focus on - EU: Extended

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