Dri Healthcare Trust · TSX:DHT.U
Dri Healthcare Trust — Q1 2021 Earnings Presentation
15 slides from Dri Healthcare Trust's earnings presentation, May 10, 2021
Slide 1: Advancing Science in the Fast Growing Pharmaceutical and Biotechnology Sector
ADVANCING SCIENCE in the Fast Growing Pharmaceutical and Biotechnology Sector Q1 2021 Earnings Call | May 10, 2021
Slide 2: Disclaimer
DISCLAIMER Certain statements made in this Q1 2021 earnings call presentation, including responses to questions, may contain forward-looking statements within the meaning of the safe harbor provisions of Canadian provincial securities laws. Forward-looking statements involve risks and uncertainties
Slide 3: Behzad Khosrowshahi, Chief Executive Officer
Behzad Khosrowshahi Chief Executive Officer 3
Slide 4: Agenda
AGENDA 1. Review of our business 5. Balance sheet & liquidity 2. A look back on our IPO 6. Growth strategy & outlook 3. Q1 financial results 7. Question & answer period 4. Portfolio highlights 4
Slide 5: Our Business
OUR BUSINESS 32-year track record in the Focused on business managing and growing a diversified Partner of choice in the fast- portfolio of growing bio-pharmaceutical industry pharmaceutical assets Proprietary system to identify and select assets 5
Slide 6: Attractive Market Niche
ATTRACTIVE MARKET NICHE Medically necessary products Growth-focused Market leading products with strong growth accretive small to potential mid-sized transactions of Benefit from strong and long-lasting $25M to $150M intellectual property Developed or marketed by industry leading, high-quali
Slide 7: Chris Anastasopoulos, Chief Financial Officer
Chris Anastasopoulos Chief Financial Officer 7
Slide 8: A Look Back on Our IPO
A LOOK BACK ON OUR IPO Terms of the Initial Public Offering Issued an aggregate of 40,107,407 units for aggregate Successfully completed gross proceeds of US$400 million our Initial Public US$293 million to acquire an initial portfolio of 18 Offering on pharmaceutical royalty assets and working ca
Slide 9: Q1 2021 Financial Results - Highlights
Q1 2021 FINANCIAL RESULTS - HIGHLIGHTS Royalty income – US$12.7 million Financial results include Net earnings – US$3.2 million the results of operations Net earnings per unit – US$0.17/unit of the acquired assets Income earned by the acquired entities from from February 19, 2021, January 1
Slide 10: Strong Cash Flow Generation
STRONG CASH FLOW GENERATION Q1 2021 Pro Forma Adjusted EBITDA (US$M)(1) Pro Forma Adjusted EBITDA Margin(1)(4) ~91% $17.9 $30.6 ($1.5) $28.0 ($0.9) ($0.2) $12.7 Royalty Net Change in Pro Forma Total Cash Operating Management Servicer Pro Forma Adjusted (2) Income Royalties Receivables Royalty Expens
Slide 11: Q1 2021 Financial Results – Portfolio Highlights
Q1 2021 FINANCIAL RESULTS – PORTFOLIO HIGHLIGHTS Pro Forma Cash Royalty Receipts (US$M)(1) For the three months ended March 31, 2021 March 31, 2020 % Change Core Products Spinraza $5.3 $5.5 (4)% Eylea(2) $4.4 $4.2 4% Rydapt $2.6 $2.7 (4)% Xolair $2.3 $2.4 (5)% FluMist $2.2 $1.2 91% Natpara $0.5 $0.3
Slide 12: Well Capitalized for Growth
WELL CAPITALIZED FOR GROWTH Strong cash position at March 31, 2021 US$106 million of cash and cash equivalents available to support acquisitions and operations US$39.6 million of royalties receivable US$285 million of royalty assets (net book value) US$69.9 million of secured notes (princi
Slide 13: Behzad Khosrowshahi, Chief Executive Officer
Behzad Khosrowshahi Chief Executive Officer 13
Slide 14: Growth Strategy
GROWTH STRATEGY Acquire existing pharmaceutical royalties Create new synthetic royalty streams 14
Slide 15: Outlook and Summary
OUTLOOK AND SUMMARY US$650 to US$750 million five-year aggregate acquisition target Target sustainable compounded Long duration assets: will seek to growth in cash maintain and extend weighted average royalty receipts remaining duration for the portfolio Active and growing pipeline 15