Aft Pharmaceuticals Ltd. · NZX:AFT

Aft Pharmaceuticals — FY2023 Earnings Presentation

25 slides from Aft Pharmaceuticals's earnings presentation, May 22, 2023

  1. Slide 1: Investor Presentation: Results for the Year to 31 March 2023

    rsonal use only INVESTOR PRESENTATION RESULTS FOR THE YEAR TO 31 MARCH 2023 22 MAY 2023 AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 1

  2. Slide 2: Important Notice

    Important Notice rsonal use only This presentation has been prepared by AFT Pharmaceuticals Limited (“AFT”), to provide a general overview of the performance of AFT for the year to 31 March 2023. It is not prepared for any other purpose and must not be provided to any person other than the intended

  3. Slide 3: AFT Declares Maiden Dividend; Record Revenue

    AFT Declares Maiden Dividend; Record Revenue • Operating revenue grew 20% to $157 million lifted by organic growth, the launch of 22 new products in Australasia and continued international expansion. rsonal use only • Operating profits, excluding licensing income, grew 38% to $18.8 million, despite

  4. Slide 4: FY2023 growth strong across all territories and channels

    FY2023 growth strong across all territories and channels • Revenue grew in all regions with the core Australasian business making the largest contribution to growth ($26.3 million ) rsonal use only • International revenue (ex-licensing income) by 71% to $10.8 million; licensing income of $0.9 millio

  5. Slide 5: Australia: Sales Accelerating Underpinned By New Product Launches

    Australia: Sales Accelerating Underpinned By New Product Launches • Sales in Australia rise 22.8% to $94.1 million from $76.7 million in FY22 rsonal use only • OTC channel the standout performer, up 29.7% to $61.2 million, with growth led by the pain segment, including the successful launch of the h

  6. Slide 6: New Zealand: Strong Organic Growth Across All Channels

    New Zealand: Strong Organic Growth Across All Channels • New Zealand revenue grows 26% to $44.0 million from $35.1 million lifted by strong post Covid OTC growth and continued rsonal use only growth in revenue from the Maxigesic family of medicines • Hospital (up 20%) and prescription (up 50%) and b

  7. Slide 7: Driving Growth With New Products

    Driving Growth With New Products • Our product launch pipeline in Australasia remains strong, leveraging distribution rsonal use only relationships, including 7,700 pharmacies and our new general practitioner sales force • During FY 23 AFT launched 22 new products – 11 OTC including two strengths of

  8. Slide 8: Asia: Expanded OTC Presence and Moving into China

    Asia: Expanded OTC Presence and Moving into China • Sales in Asia rose 24% to $6.8 million from $5.5 million in FY 22. rsonal use only • OTC channel leading growth; contribution from the new Tmall global site growing; see strong regional demand for Maxigesic variants and opportunities for other prod

  9. Slide 9: International: Strong Organic Growth of Product Sales and Royalties

    International: Strong Organic Growth of Product Sales and Royalties INTERNATIONAL OPERATING REVENUE COUNTRIES WHERE MAXIGESIC IS SOLD AND ORDERED rsonal use only $14.0 $13.1 70 61 $11.7 $12.0 60 $9.9 $10.0 $9.1 50 46 43 NZ$ Million $8.0 40 Countries $5.9 $6.0 30 28 $3.6 $4.0 20 $2.0 20 9 $0.0 10 7 3

  10. Slide 10: Maxigesic Global Update

    Maxigesic Global Update A US$59 billion market1 rsonal use only 1 www.ex pertmark etres earc h.com/reports/anal gesi c s-market 10

  11. Slide 11: Investing in a Strong Research and Development Pipeline

    Investing in a Strong Research and Development Pipeline Pain and eyecare rsonal use only Route Admin / Stage Formulation Regulating Product Clinical Development Commercialization Due Form Manufacturing Filing PAIN Maxigesic IV USA Target approval late 2023 Maxigesic Dry Stick Target completion in 20

  12. Slide 12: Investing in a Strong Research and Development Pipeline

    Investing in a Strong Research and Development Pipeline Dermatology, gastroenterology and medicinal cannabis rsonal use only Route Admin / Stage Formulation Regulating Product Clinical Development Commercialization Due Form Manufacturing Filing DERMATOLOGY Project SD Topical Filed Strawberry birthma

  13. Slide 13: Operating Profit Lower on Reduced Licence Income

    Operating Profit Lower on Reduced Licence Income NZ$'000s 2023 Revenue 2022 Revenue rsonal use only Year ended 31 March % % • Strong growth in operating revenue and Revenue 156,641 130,314 steady gross margins Gross profit 72,983 46.6% 61,775 47.4% • Excluding licensing income, revenue grew 26%; FY

  14. Slide 14: Balance Sheet: Well Funded, Net Debt Steady

    Balance Sheet: Well Funded, Net Debt Steady rsonal use only NZ$'000 Year ended 31 March 2023 2022 (restated*) • Net debt of $29.9 million in line with $29.3 million a Current assets 89,851 69,602 year ago, but higher than 1X EBITDA target due to: Cash 4,749 7,940 - investment in for growth Australia

  15. Slide 15: Cash Flow: AFT Remains Well Funded as Debt Reduction Continues

    Cash Flow: AFT Remains Well Funded as Debt Reduction Continues rsonal use only NZ$'000’s Year ended 31 March 2023 2022 (restated*) • Lower operating cashflow reflecting higher Net cash from operating activities 11,629 14,152 working capital applied in line with revenue growth and the need to manage

  16. Slide 16: Outlook: Growth Momentum Expected to Continue in FY24

    Outlook: Growth Momentum Expected to Continue in FY24 • Momentum expected to continue into the new financial year supported by growth in the existing portfolio, rsonal use only new product launches and sales growth in core Australasian markets • Targeting increased growth in International and Asia m

  17. Slide 17: Questions

    rsonal use only QUESTIONS

  18. Slide 18: www.aftpharm.com

    rsonal use only www.aftpharm.com

  19. Slide 19: Australasian Product Portfolio

    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 150 proprietary, branded and generic products which address the following therapeutic areas: rsonal use only Pain Maxigesic, ParaOsteo, Z

  20. Slide 20: AFT Asian Product Portfolio

    AFT Asian Product Portfolio AFT’s Asia portfolio includes a range of proprietary, branded and generic products which address the following therapeutic areas: rsonal use only Pain Maxigesic Medicated Vitamins Ferro-sachets, Lipo VitC, Lipo VitD and expanding pipeline – T Mall Dermatology Crystawash E

  21. Slide 21: AFT Global Product Portfolio

    AFT Global Product Portfolio AFT is building the global presence of its proprietary and patented products through its network of licensees and distributors. rsonal use only It continues the development of its portfolio of repurposed medicines: Maxigesic, Pascomer, NasoSURF, Crystawash Extend and Cry

  22. Slide 22: History of AFT Pharmaceuticals

    History of AFT Pharmaceuticals AFT was founded 23 years ago by Dr Hartley and Marree Atkinson. Since then AFT has remained an Atkinson-family rsonal use only controlled business and has grown organically into Australia and internationally. The 2015 IPO raised funds to pursue a more aggressive (and l

  23. Slide 23: ESG Focusing on What Matters

    ESG Focusing on What Matters rsonal use only AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 23

  24. Slide 24: Reconciliation of EBITDA to GAAP

    Reconciliation of EBITDA to GAAP rsonal use only AFT’s standard profit measure prepared under New Zealand GAAP is net GAAP to Non-GAAP reconciliation profit after tax attributable to the owners of the parent NZ$'000 Year ended 31 March 2023 2022 AFT has used the non-GAAP profit measure of EBITDA whe

  25. Slide 25: For More Information

    rsonal use only www.aftpharm.com FOR MORE INFORMATION Dr Hartley Atkinson Managing Director Email: hartley.atkinson@aftpharm.com Malcolm Tubby Chief Financial Officer Email: malcolm.tubby@aftpharm.com AFT Pharmaceuticals Limited Level 1, 129 Hurstmere Road Takapuna, Auckland 0622 New Zealand

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