18 slides from Jamjoom Pharmaceuticals Factory's earnings presentation, Nov 7, 2023
Slide 1: Jamjoom Pharma Earnings Presentation 9M 2023
Jamjoom Pharma Earnings Presentation 9M 2023 7 November 2023
Slide 2: Business at a glance
Business at a glance
Slide 3: 9M 2023 Key Performance Highlights
3 Business at a glance 9M 2023 Key Performance Highlights Revenue # of Brands 9M 23 ▪ Growth across key therapeutic areas and markets 3Q 23 +24% YoY +8% YoY ▪ 9 therapeutic areas; 10 new brands added driven by higher volumes SAR mn 893 131 EBITDA FCF * 9M 23 ▪ EBITDA growth outstrips the revenue on
Slide 4: Jamjoom aims to become a leading MEA player by 2026
4 Business at a glance Jamjoom aims to become a leading MEA player by 2026 Vision To become a leading MEA organization by 2026 through consistently providing affordable, high-quality healthcare solutions Foundations Operational Excellence Strategic Execution Leadership: Positioning Track Record ▪ Gr
Slide 5: A new era of manufacturing excellence powered by new, advanced facilities
5 Business at a glance A new era of manufacturing excellence powered by new, advanced facilities SAR 100Bn+ of Total Addressable Market Jeddah Jeddah Egypt Algeria in Core Geographies By 2026 Main Facility Sterile Facility Facility Facility Iraq Kuwait Bahrain Egypt Qatar Kingdom of Saudi Arabia Ope
Slide 6: Strong commercial presence in key markets
6 Business at a glance Strong commercial presence in key markets Brands sold in 36 Countries Across MEA Commercial Team Key Highlights Large and well-orchestrated inhouse sales Kazakhstan KSA, Iraq & Gulf countries 59% force (c. 48% of employees) Algiers* Cairo Iraq Knowledge-driven relationships wi
Slide 7: Diversifying portfolio growth through expansion into new therapeutic areas
7 Business at a glance Diversifying portfolio growth through expansion into new therapeutic areas FY 2021 Revenue Contribution by Therapeutic Area (SARmn) 9M 2023 Revenue Contribution by Therapeutic Area (SARmn) Anti-diabetic 1% Pain & Inflammation 5% 26% Ophthalmology 32% Ophthalmology Pain & Infla
Slide 8: Strong revenue growth across core therapeutic areas and geographies
8 Business at a glance Strong revenue growth across core therapeutic areas and geographies Revenue Movement by Therapeutic Area, YoY (SARmn) Revenue Movement By Country YoY (SARmn) +24% +24% 128 30 9 13 (7) 893 720 +105% Morocco EGP Devaluation; 10 7 893 +50% Bahrain Despite 18% 5 7 +45% Francophone
Slide 9: JP Pipeline – A healthy future ahead..
9 Business at a glance JP Pipeline – A healthy future ahead.. R&D Status for new Products Under SFDA review Ready for SFDA Submission Under Development Total 4 Ophthalmology 3 18 11 2 General Medicine 2 4 Revenue growth EBITDA margin Dermatology 3 3 2 Consumer Health 8 13 3 1 Gastrointestinal 1 7 5
Slide 10: Key Financials
A Layla pagans Jamjoom Pharma Key Financials
Slide 11: 3rd Quarter Key Highlights
11 Financial Highlights 3rd Quarter Key Highlights Revenue (SARmn) EBITDA (SARmn) +23% +37% 293 91 238 66 EBITDA Margin 28.0% 31.2% 3Q 22 3Q 23 3Q 22 3Q 23 FCF (SARmn) Net Profit (SARmn) +36% +69% 73 77 54 46 FCF conversion 80.9% 80.4% Net Profit Margin 19.2% 26.4% 3Q 22 3Q 23 3Q 22 3Q 23 Jamjoom Ea
Slide 12: Optimizing production and operations to sustain high margins
12 Financial Highlights Optimizing production and operations to sustain high margins Cost of Revenue of Movement YoY (SARmn) Operating Expenses Movement YoY (SARmn) +23% +13% 25 10 305 271 0 10 308 42 5 0 Includes SAR 1.5m IPO related one-offs and SAR 1.4m Egypt pre-operating expenses 251 +1% +12% +
Slide 13: Jamjoom Pharma reinforces its industry-leading margin profile…
13 Financial Highlights Jamjoom Pharma reinforces its industry-leading margin profile… EBITDA Movement YoY (SARmn) EBITDA and Net Profit Margins (%) 33.2% 33.1% +35% 31.2% 28.0% 23.1% 28.9% 26.4% 173 27.9% EBITDA Margin 32.5% EBITDA Margin 29.8% 290 19.2% (57) (25) (10) (6) 16.1% 214 +24% +23% +12%
Slide 14: … whilst driving a healthy cash conversion cycle…
14 Financial Highlights … whilst driving a healthy cash conversion cycle… Cash Conversion Cycle (Trailing) (Days) Key Highlights ▪ As of 9M 2023, Jamjoom working capital stood at SAR 615mn, up 25% YTD +0% ▪ Higher working capital is driven by revenue growth and business expansion 270 265 261 271 248
Slide 15: … and further improving FCF conversion
15 Financial Highlights … and further improving FCF conversion CAPEX (SARmn) Key Highlights ▪ Capex declined by 49% YoY, following completion of the CAPEX cycle in relation to the two new facilities 164 ▪ Coupled with strong EBITDA, SAR 253mn FCF was earned in 9M 2023 vs 123 SAR 172mn in all of 2022
Slide 16: Outlook & Guidance
Layla pagans Jamjoom Pharma Outlook & Guidance
Slide 17: Short to medium-term guidance
17 Outlook & Guidance Short to medium-term guidance 2023 Revenue growth: 17-19% Revenue growth EBITDA 2023 EBITDA margin: ~31% margin 3-year revenue CAGR 12-15% 2024 onwards: 30% with 100-150 bps potential for expansion Annual Dividend: 50-60% of net profit Dividends CAPEX CAPEX: 4-6% of net revenue
Slide 18: Q&A Session
18 Q&A Session 9M 2023 Earnings Presentation