Aft Pharmaceuticals Ltd. · NZX:AFT
Aft Pharmaceuticals — FY2024 Earnings Presentation
25 slides from Aft Pharmaceuticals's earnings presentation, May 23, 2024
Slide 1: Investor Presentation: Financial Results 12 Months to 31 March 2024
INVESTOR PRESENTATION FINANCIAL RESULTS 12 MONTHS TO 31 MARCH 2024 Dr Hartley Atkinson Co-Founder and Managing Director Malcolm Tubby Chief Financial Officer
Slide 2: Important Notice
Important Notice This presentation has been prepared by AFT Pharmaceuticals Limited (“AFT”), to provide a general overview of the performance of AFT for the year to 30 March 2024. It is not prepared for any other purpose and must not be provided to any person other than the intended recipient. This
Slide 3: Presenting Today
Presenting Today Dr Hartley Atkinson Co-Founder and Managing Director Malcolm Tubby Chief Financial Officer AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 3
Slide 4: Record Revenue, Earnings and Lower Debt Whilst Investing for Growth
Record Revenue, Earnings and Lower Debt Whilst Investing for Growth HIGHLIGHTS • Full-year operating revenue up 25% to $195.4 million, extending a decades long record of revenue growth • International and Asian market revenue (excluding licensing income of $8.5 million) rises 70% to $30 million; Aus
Slide 5: Australia: Sales Growth Led by OTC Markets
Australia: Sales Growth Led by OTC Markets • Revenue rises 15% to $108.2 million; driven by OTC channel growth; AFT’s liposomal vitamins and Maxigesic are the leaders in their respective segments; GP Field Force bedded down • Operating profits down to $15.5 million from $19.3 million following incre
Slide 6: New Zealand: Growth in OTC
New Zealand: Growth in OTC • Revenue rises 11% to $48.7 million, with the OTC channel leading growth, hospital and prescription channels more subdued. • Operating profit was $7.3 million compared to $8.1 million in the prior year. In part this reflects the increased marketing spend associated with p
Slide 7: Driving Australasian Growth With New Products
Driving Australasian Growth With New Products • A full portfolio of product launches for our Australasian business, with 61 targeted for FY25 to FY26 • During FY24 we launched 18 new products across Australasia including: • Extending Ferro Range • Ferrocare Pregnancy Multivitamins • Ferro-MR Tablets
Slide 8: Asia: Maxigesic IV Drives Growth; Supported by OTC and Online
Asia: Maxigesic IV Drives Growth; Supported by OTC and Online • Operating revenue grew 57% to $10.7 million from $6.8 million, with growth driven by the hospital channel and strong demand for Maxigesic IV, particularly in Korea. Chinese cross border e-commerce (CBEC) initiatives also contribute • Op
Slide 9: International: An Expanding Portfolio in New Markets
International: An Expanding Portfolio in New Markets INTERNATIONAL REVENUE COUNTRIES WHERE MAXIGESIC IS SOLD AND ORDERED $30.0 80 73 $27.8 70 $25.0 61 60 $20.0 $15.0 50 46 COUNTRIES 43 $NZM $15.0 40 $11.7 28 30 $10.0 20 $7.0 20 $13.1 $12.8 $5.0 $9.9 7 9 $9.1 10 3 4 $4.7 2 $- 0 FY2020 FY2021 FY 2022
Slide 10: AFT's Global Reach
AFT’s Global Reach Our medicines are now available in more than 70 countries around the world
Slide 11: Commercialized Research and Development investment
Commercialized Research and Development investment Several projects have exited development during the year, and in the commercialization and revenue generating phase PROJECTS NOW IN COMMERCIALISATION RESEARCH AND DEVELOPMENT EXPENSES* • Maxigesic – nine dose forms now in market and protected by pat
Slide 12: Investing in a Strong Research and Development Pipeline
Investing in a Strong Research and Development Pipeline AFT’s positive cashflows have positioned the company well to undertake and secure research and development projects either alone or in partnership with others. PROJECT PATENT PARTNERSHIP AND APPLICATION DERMATOLOGY Pascomer 2040/20441 Facial an
Slide 13: Record Operating Profit
Record Operating Profit 2024 Revenue 2023 Revenue FY Year to 31 March $000 % $000 % ∆% • Strong growth in revenue supported by Revenue 195,411 156,641 25% licensing income and sales in international markets. Gross profit 88,272 45% 72,983 47% • Gross profit margin on product sales and Operating expe
Slide 14: AFT is Well Funded with Net Debt below EBITDA
AFT is Well Funded with Net Debt below EBITDA 2024 2023 FY Year to 31 March $000 $000 ∆% Current assets (excluding cash) 93,687 89,851 Cash 12,040 4,749 154% • Reduction in net debt, now at $16.2 million, down from $29.9 million at the end of FY23 Non current assets 59,530 53,463 • Net debt now belo
Slide 15: Cashflow Supported by Strong Growth and Maxigesic IV Milestone Payment
Cashflow Supported by Strong Growth and Maxigesic IV Milestone Payment 2024 2023 FY • Strong growth in operating cashflows supported by Year to 31 March $000 $000 ∆% Maxigesic IV licensing income of $6 million and revenue growth Net cash from operating activities 28,861 11,629 148% • Investment cash
Slide 16: Outlook: Positioned to Drive Continued Growth in Revenue and Earnings
Outlook: Positioned to Drive Continued Growth in Revenue and Earnings • AFT is expecting growth for the coming financial year(s) to continue • We are targeting operating profit – excluding any license payments – to range between $22 million to $25 million driven by better quality earnings from tradi
Slide 17: Questions
QUESTIONS
Slide 18: Appendix
APPENDIX
Slide 19: Appendix 1: Sustainability- Founded on a Social Goal of Improving Health
Appendix 1: Sustainability- Founded on a Social Goal of Improving Health DELIVERING OUR FIRST CLIMATE ASSESSMENT • Continue the evolution of our sustainability framework • We completed our first climate risk assessment, and our first disclosure required under the Aotearoa New Zealand Climate Standar
Slide 20: Appendix 2: History of AFT Pharmaceuticals
Appendix 2: History of AFT Pharmaceuticals AFT was founded over 25 years ago by Dr Hartley and Marree Atkinson. Since then, AFT has remained an Atkinson-family controlled business and has grown organically into Australia and internationally The 2015 IPO raised funds to pursue a more aggressive (and
Slide 21: Appendix 3: Australasian Product Portfolio
Appendix 3: Australasian Product Portfolio AFT has the #1 selling product (Maxigesic) in the Australian para-ibu1 combo pain relief. AFT’s portfolio includes a combination of over 150 proprietary, branded and generic products which address the following therapeutic areas: Pain Maxigesic, ParaOsteo,
Slide 22: Appendix 4: AFT Global Product Portfolio
Appendix 4: AFT Global Product Portfolio AFT is building the global presence of its proprietary and patented products through its network of licensees and distributors. It continues the development of its portfolio of repurposed medicines: Maxigesic1, Pascomer, NasoSURF, and Crystaderm Pain Maxigesi
Slide 23: Appendix 5: Extending the Reach of the Maxigesic Portfolio
Appendix 5: Extending the Reach of the Maxigesic Portfolio AFT has the #1 selling product (Maxigesic) in the Australian para-ibu1 combo pain relief and is building the presence of the business internationally, through the adoption of existing products and the launch of new dose forms Product Maxiges
Slide 24: Appendix 6: GAAP to Non-GAAP Reconciliation
Appendix 6: GAAP to Non-GAAP Reconciliation AFT’s standard profit measure prepared under New Zealand GAAP is net profit after tax. AFT has used the non-GAAP profit measure of EBITDA when discussing financial performance in this document. AFT directors and management believe that this measure provide
Slide 25: For More Information
FOR MORE INFORMATION Dr Hartley Atkinson Managing Director Malcolm Tubby Chief Financial Officer AFT Pharmaceuticals Limited Level 1, 129 Hurstmere Road Takapuna, Auckland 0622 New Zealand www.aftpharm.com