MediGene AG · LS:A40ESG
MediGene — 9M 2013 Earnings Presentation
18 slides from MediGene's earnings presentation, Nov 8, 2013
Slide 1: Analyst conference call: Results for the first 9 months of 2013
Analyst conference call Results for the first 9 months of 2013 8 November 2013 Dr. Frank Mathias, CEO Peter Llewellyn-Davies, CFO
Slide 2: Forward-looking statements
This presentation contains forward-looking statements - that is, statements related to future, not past, events. These statements may be identified either orally or in writing by words as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "will", "may" or words of simila
Slide 3: Overview since beginning of 2013: Veregen
Overview since beginning of 2013 Veregen®: In-market sales increased by 40% Market launch in Taiwan, the Netherlands and Serbia Market approval in the Czech Republic and Canada Partnership agreements concluded for marketing Veregen® in Asia, Australia, New Zealand and Italy Inclusion of Veregen® in
Slide 4: Veregen: Status of global regulatory and marketing progress
Veregen®: Status of global regulatory and marketing progress Approval Preparation Approval Price On the and filing process negotiations market of dossier China1) South Mexico Israel USA (2009) Russia Korea Turkey France Nordic countries2) Germany (2010) Cyprus CEE countries3) Austria (2010) Central
Slide 5: Overview since beginning of 2013: EndoTAG-1, RhuDex, AAVLP
Overview since beginning of 2013 EndoTAG®-1: Exclusive global license and development agreement with SynCore secures funding of planned Phase III study Investigator Initiated Trial (IIT) results published at ASCO 2013 RhuDex®: Preparation of Phase II study in primary biliary cirrhosis (PBC) on track
Slide 6: Overview since beginning of 2013: Corporate
Overview since beginning of 2013 Corporate: SynCore is new strategic core investor New Supervisory Board elected with 3 instead of 6 members Share capital reduction (4:1 ratio) successfully completed 6
Slide 7: Financial Report 9M 2013
Financial Report 9M 2013 Peter Llewellyn-Davies, CFO 7
Slide 8: Financial overview for the first nine months 2013
Financial overview for the first nine months 2013 Revenue from royalties on Veregen® increased by 39% Increase of in-market sales by 40% up to €12.2 m Total revenue* increased by 17% to €5.1 m Loss on EBITDA* basis reduced by 8% to €-6.1 m Stable operating expenses of €10.7 m FTE total: 44 (9M 2012:
Slide 9: Steadily growing Veregen sales
Steadily growing Veregen® sales In € m 40% 14% 17% *without one-time effect Revenue (in € k) 9M 2012 9M 2013 Change Veregen® Royalties 1,358 1,889 39% Revenue from supply chain 517 735 42% Milestones 608 213 -65% Total Veregen® revenue 2,483 2,837 14% Other operating income 2,276 2,284 0% Total reve
Slide 10: Veregen: Moving average turnover since 2010
in K€ 2.000 4.000 6.000 8.000 0 10.000 14.000 16.000 18.000 12.000 Dez 10 Jan 11 Feb 11 Mrz 11 Apr 11 Mai 11 Jun 11 Jul 11 Aug 11 Sep 11 Okt 11 Nov 11 Dez 11 Jan 12 Feb 12 Mrz 12 Apr 12 Mai 12 Jun 12 12-month average Jul 12 Aug 12 Sep 12 Okt 12 Nov 12 Dez 12 Jan 13 Feb 13 Mrz 13 Apr 13 Mai 13 Jun 13
Slide 11: Stable operating expenses
Stable operating expenses In € m -2% -1% R&D expenses: SG&A expenses: Decrease in 9M year-on-year Previous period influenced by transaction costs for Eligard®-Deal Increase in Q3 year-on-year 9M 2013 includes higher selling Ongoing preparation of expenses for Veregen® planned clinical trials for End
Slide 12: Improvement on EBITDA (without one-time effects)
Improvement on EBITDA (without one-time effects) In € m 8% Reduction of EBITDA loss of 8% (without one-time effects) One-time effects in 2012: Income from compensation payment (€0.4 m) Eligard® milestone payment from Astellas (€5 m) Net result of €-7.7 m 12
Slide 13: Cash position of €11.7 m as of 30 Sep 2013
Cash position of €11.7 m as of 30 Sep 2013 In € m Cash flow from financing activities comprises payment of €2.4 m from SynCore investment Average monthly operating cash usage of €1.2 m due to increase in working capital 13
Slide 14: Financial guidance for 2013
Financial guidance for 2013 Financial results 2013 anticipated to be within announced guidance Total revenue expected at lower end of guided range of €8 - 9 m due to a slight shift in market launches of Veregen® Loss on EBITDA basis in middle of guided range of €8 - 10 m Cash reach at least until be
Slide 15: Successful conclusion of share capital reduction
Successful conclusion of share capital reduction Shareholder structure Ordinary reduction of share capital Freefloat (< 3%) approved at AGM 2013 with 83,50% majority of 93% Santo Holding 4,32% Number of shares issued Advent decreased from 39,488,556 to 6,09% 9,872,139 (ratio of 4:1) SynCore Bio 6,09
Slide 16: Outlook
Outlook Veregen® Revenue growth to continue in double-digit percent range Further approvals and market launches in additional countries Additional marketing and partnership agreements Market authorization applications for remaining European countries to start 2014 EndoTAG®-1 Start phase III trial pl
Slide 17: Questions & Answers
medigene Questions & Answers
Slide 18: Medigene AG contact details
Medigene AG MediGene AG T +49 - 89 - 20 00 33 - 0 Lochhamer Straße 11 F +49 - 89 - 20 00 33 - 2920 82152 Planegg Planegg/Martinsried / Martinsried investor@medigene.com Germany www.medigene.com Listed on Frankfurt Stock Exchange (MDG, Prime Standard)