GlaxoSmithKline Pharmaceuticals Limited · NSE:GLAXO
GlaxoSmithKline Pharmaceuticals — FY2010 Earnings Presentation
17 slides from GlaxoSmithKline Pharmaceuticals's earnings presentation, Oct 11, 2011
Slide 1: Financial Results 2010
e csk An Kline Financial Results 2010
Slide 2: Key Highlights
Key Highlights Net Sales growth at 13% Sales Pharma Business 14% Profit from Operations before Trading Investment Income growth 14% Profit Profitability maintained at 35% PBT growth 14% Profit PAT but before exceptional items growth 15% EPS after exceptional items EPS `66.60; 15% growth before excep
Slide 3: Segmental Performance Q4 & Full Year
Segmental Performance Q4 & Full Year ` Mn Sales Operating Profit Operating Profit % to Sales Q4'10 Q4'09 Gr % Q4'10 Q4'09 Gr % Q4'10 Q4'09 Pharma 4,564 4,096 11% Iodex 182 194 -6% Exports 160 154 4% Total 4,906 4,444 10% 1517 1391 9% 31% 31% Sales Operating Profit Operating Profit % to Sales 2010 20
Slide 4: Financial Summary: 2010
Financial Summary: 2010 ` Mn Net Sales 21,116 13% Gross Margin 13,346 13% Staff costs 2,409 15% Other Opex 3,737 13% Other income 324 Operating Profit 7,526 14% Treasury Income 1,147 PBT 8,673 14% PAT 5,814 15% Excep Net of Tax (177)
Slide 5: 2010 Performance Summary
2010 Performance Summary % in italics are % of turnover Q1 2010 Q2 2010 Q3 2010 Q4 2010 FY 2010 % `Mn `Mn `Mn `Mn `Mn Change Net Sales 5,411 4,979 5,820 4,906 21,116 12.9 Gross Margin 3,376 3,238 3,657 3,076 13,346 13.2 62.4% 65.0% 62.8% 62.7% 63.2% Operating expenses 1,412 1,462 1,611 1,660 6,145 1
Slide 6: Performance Across Business Verticals
Performance Across Business Verticals Vaccines +24% vs 2009 Specialties +19% vs 2009 Mass Specialty +16% vs 2009 Mass Markets +10% vs 2009
Slide 7: Slowing down of Growth in DQ
Slowing down of Growth in DQ RANKINGS MONTH CUMMULATIVE 12 MONTHS TO DATE VALU EVO VALUES MS Gr ES MS Gr VALUES MS Gr L CORPORATI INR 12M CUM MON ONS INR Mn % % Mn % % INR Mn % % TOTAL 100. 46786 100. 10 MARKET 40689.7 0 5.8 9 0 23.5 467869.3 0.0 16.5 100 1 1 1 CIPLA 2248.4 5.5 5.0 24372. 5.21 21.3
Slide 8: GSK Achieves Leadership in Vaccines
GSK Achieves Leadership in Vaccines QTR ~ QTR ~ MAT ~ 12/2010 09/2010 12/2010 Val In ` Val MS Val MS Val MS Rs % Rs % Rs % Vaccines Market 2,10,31,80,854 100.00 100.00 100.00 GlaxoSmithKline* 48,61,03,343 23.11 22.45 19.86 Sanofi Aventis* 41,58,79,642 19.77 16.66 19.62 Novartis Intl.* 21,18,17,954 1
Slide 9: Gains in Hospital Market Share
Gains in Hospital Market Share ` Crores QTR QTR ~ QTR ~ MS QTR ~ ~12/2009 MS% 06/2010 MS% 09/2010 % 12/2010 MS% 1,076 1,160 1,320 1,279 GLAXOSMITHKLINE* 62 5.75 68 5.82 85 6.44 80 6.25 SUN* 59 5.48 67 5.78 70 5.30 69 5.42 CIPLA 59 5.44 60 5.21 73 5.50 72 5.66 ZYDUS CADILA* 49 4.58 49 4.23 62 4.72 58
Slide 10: Creating a broader portfolio of potential high value assets
Creating a broader portfolio of potential high value assets New products contributions to growth in 2010 26% New Products contributions to Total Rx Sales 7% 2007 2008 2009 2010
Slide 11: Exceptional items
Exceptional items 2010 2009 `Mn `Mn Actuarial Gains/(Losses) (120) 221 Provision for revised Gratuity Limits (123) - Severance Costs (22) - Expenses for rationalisation initiatives - (104) Profit on sale of property - 89 Compensation for surrender of rental premises - 13 Expenses for obtaining marke
Slide 12: Cash Flow
Cash Flow 2010 2009 ` Mn ` Mn Profit before taxation and exceptional items 8,673 7,585 Depreciation and other non-cash items (1,050) (850) Increase/(Decrease) in Working Capital 111 222 Cash generated from operations 7,733 6,957 Taxation (3,047) (1,774) Cash flow before exceptional items 4,686 5,183
Slide 13: 2010 Turnover Summary
2010 Turnover Summary 2010 2009 % Change `Mn `Mn Pharmaceuticals 19,603 17,144 14.3 Iodex 882 849 4.0 Exports and Beta 631 715 -11.7 Total 21,116 18,708 12.9
Slide 14: 2010 Performance Summary
2010 Performance Summary 2010 2009 % Change `Mn `Mn Turnover 21,116 18,708 12.9 EPS (in Rs.) 68.64 59.61 15.1 Operating Cashflow 7,733 6,957 11.2 EPS before exceptional items
Slide 15: Full year results after Exceptional items
Full year results after Exceptional items 2010 2009 % `Mn `Mn Change Profit before exceptional items 5,814 5,049 15.1% Exceptional expenses (177) 74 Net Profit 5,637 5,123 10.0%
Slide 16: Financial performance
Financial performance EPS and Book Value per share Book value EPS 68.6 59.6 52.9 46.8 ` 228 207 182 Return on Average Net Worth and 161 Average Capital Employed (%) ` 41.9 RONW ROCE 40.8 40.1 39.9 2007 2008 2009 2010 31.5 31.1 30.9 30.6 2007 2008 2009 2010
Slide 17: Do more, feel better, live longer
Do more, feel better, live longer
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