Laboratorios Farmaceuticos Rovi, S.a. · BME:ROVI
Laboratorios Farmaceuticos Rovi — Q1 2025 Earnings Presentation
23 slides from Laboratorios Farmaceuticos Rovi's earnings presentation, May 8, 2025
Slide 1: First quarter 2025 Financial Results
First quarter 2025 FINANCIAL RESULTS 8 MAY 2025
Slide 2: Disclaimer
DISCLAIMER This Presentation has been prepared by Laboratorios Farmacéuticos ROVI, S.A. (the “Company”) and comprises the slides for a presentation concerning the Company and its subsidiaries (the “Group”). For the purposes of this disclaimer, “Presentation” means this document, its contents or any
Slide 3: 2025 first quarter financial results - highlights
2025 first quarter financial results - highlights Operating revenue in Q1 2025 was €154.9 Mn, a 2% increase on Q1 2024, mainly due to the performance of the specialty pharmaceutical business, which increased 18% to €119.1 Mn, compared to €101.1 Mn in Q1 2024. Positive evolution of Okedi® (Risperidon
Slide 4: Operating Results
OPERATING RESULTS ROVI
Slide 5: Okedi, Neparvis and LMWH, key growth drivers within the specialty pharma business
Okedi®, Neparvis® and LMWH, key growth drivers within the specialty pharma business Q1 2025 sales variation +2% 7.2 1.4 0.6 0.1 7.4 5.9 154.9 151.2 (0.1) (3.1) (1.4) (14.3) €Mn Q1 2024 Op. Enoxaparin Bemiparin Okedi® Neparvis® Volutsa® Orvatez® Other Discounts Contrast CDMO Q1 2025 Op. revenue biosi
Slide 6: Evolution of EBITDA and net profit
Evolution of EBITDA and net profit EBITDA Margin 40 +2.4 pp 19.6% 20% 17.1% 30 30.3 15% 25.9 €Mn 20 10% 18.1 15.0 10 5% EBITDA Net Profit EBITDA Net Profit 0 0% Q1 2024 Q1 2025 • EBITDA was €30.3 Mn in Q1 2025, an increase of 17% compared to Q1 2024. ◦ EBITDA margin increased 2.4 pp to 19.6% in Q1 2
Slide 7: ROVI aspires to become a benchmark player in the LMWH field worldwide
ROVI aspires to become a benchmark player in the LMWH field worldwide Prescription-based sales Heparin franchise sales LMWH sales +21% +24% +17% 105.5 69.6 40.6 87.5 34.6 +38% 56.3 27.1 €Mn €Mn €Mn 19.7 Enoxaparin Bemiparin biosimilar Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 • Sales of prescr
Slide 8: ROVI's internationalisation strategy as one of its pillars of future growth
ROVI's internationalisation strategy as one of its pillars of future growth • Well positioned to drive long-term leadership in low-molecular-weight heparins (LMWH). • Sales outside Spain increased 6% in Q1 2025, mainly driven by international sales of Okedi® and low molecular weight heparins. • Sale
Slide 9: Growth evolution of enoxaparin biosimilar
Growth evolution of enoxaparin biosimilar Well-established network to minimize time-to-market Expansion in other Directly marketed in markets through out Approved in 26 countries Germany, UK, Italy, licensing agreements in Europe and 33 in the France, Austria, Portugal with international rest of the
Slide 10: Okedi and Neparvis, key drivers of the performance of the specialty pharma business
Okedi® and Neparvis®, key drivers of the performance of the specialty pharma business +133% +11% +1% 15 13.6 13.3 13.2 12.6 12.2 10 -47% €Mn 6.6 5.4 -4% 5 3.5 2.4 2.3 0 (2) (1) Okedi® Neparvis® Orvatez® Volutsa® Contrast agents and other hospital products Q1 2024 Sales Q1 2025 Sales (1) Decrease in
Slide 11: Value added CDMO services
Value added CDMO services CDMO business CDMO evolution (Sales) ROVI and Moderna continue along the path of their long-term collaboration: • ROVI collaborates with Moderna in the end-to-end supply chain, including the active substance at the Granada plant and fill-and-finish at the Madrid facilities.
Slide 12: ISM Platform opens up new avenues of growth for ROVI
ISM® Platform opens up new avenues of growth for ROVI Overview Key Company Highlights of ISM® Platform • Internally-developed and patented innovative drug-release technology, ISM®(1), which allows for the sustained release of compounds administered by Pop PK(3) model & Expected high injection simula
Slide 13: Outlook 2025
Outlook 2025 2025 operating revenue growth rate Decrease by a mid-single-digit percentage vs 2024 The key growth levers in 2025 Specialty Pharma CDMO Launch of Risperidone ISM® in new New business to be acquired countries LMWH franchise Agreement with Moderna Existing portfolio of specialty Capacity
Slide 14: Financial Results
FINANCIAL RESULTS ROVI
Slide 15: Increased revenues due to strong performance of specialty pharmaceutical business
Increased revenues due to strong performance of specialty pharmaceutical business Operating revenue LMWH sales +2% +25% 100 18.0 0.1 67.7 151.2 154.9 54.3 (14.3) 50 40.6 €Mn €Mn 34.6 19.7 27.1 0 Q1 2024 Prescription Contrast agents CDMO Q1 2025 Q1 2024 Q1 2025 operating products & hospital operating
Slide 16: Gross margin positively impacted by the increased contribution of Okedi's sales
Gross margin positively impacted by the increased contribution of Okedi®'s sales and the decrease in LMWH raw material prices Gross profit and Gross margin Gross margin impacts Gross profit increased 6% to €90.6 Mn in Q1 2025. 100 Gross margin was 58.5% in Q1 2025, an increase of 1.8 pp on Q1 2024.
Slide 17: SG&A and commitment to R&D
SG&A and commitment to R&D SG&A expenses R&D expenses +1% 35.5% 34.9% 30% €Mn 6.2 €Mn Q1 2025 20% 53.6 54.0 10% +2% 0 0% Q1 2024 6.1 Q1 2024 Q1 2025 SG&A SG&A/Operating revenue 0 10 SG&A expenses increased by 1% to €54.0 Mn in Q1 2025. This increase was a R&D expenses increased 2% to €6.2 Mn in Q1 2
Slide 18: EBITDA, EBIT & Net Profit analysis
EBITDA, EBIT & Net Profit analysis EBITDA EBIT +17% +19% 50 32 14.9% 17.1% 19.6% 12.8% €Mn €Mn 25 0% 16 23.0 10% 30.3 19.3 25.9 0 0 0% Q1 2024 Q1 2025 Q1 2024 Q1 2025 EBITDA EBITDA Margin EBIT EBIT margin Net Profit 50 5.0 30.3 21% 25.9 20 €Mn €Mn 25 (0.4) (0.1) (0.1) 18.1 15.0 0 EBITDA Gross SG&A R
Slide 19: Capital expenditure and Cash Flow
Capital expenditure and Cash Flow CAPEX evolution Cash Flow evolution 15 -8% 21.3 0.8 (2.4) (8.3) (3.5) (77.1) 9.0 €Mn (85.1) 8.3 €Mn Net debt (-)/ Net cash Working Capex Invts. in Other Net debt (-)/ cash (+) FY from capital joint cash (+) Q1 2024(1) operating ventures 2025(1) activities and 0 (exc
Slide 20: Debt analysis
Debt analysis Debt breakdown by source (%) Debt maturities 0.1% 30.0 24.4 Total debt 21.6 22.1 22.6 €108.4 Mn 13% 20.0 17.7 10% Financial liabilities for leases €Mn Debt with public administration Bank borrowings Financial derivatives 10.0 76% 0.0 2025 2026 2027 2028 2029 + • Debt with public admini
Slide 21: News flow 2025
News flow 2025 Additional new products to be launched Specialty pharma Granting by the competent local authorities of the marketing authorisation of an enoxaparin biosimilar outside Europe Moderna's product manufacturing progress CDMO Announcement of new contracts Marketing of Okedi® in Europe and r
Slide 22: Alternative performance measures
Alternative performance measures In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRSs”) taken from our financial statements, this document includes certain alternative performance measures (“APMs”) as defined in the ESMA (European S
Slide 23: For further information, please contact:
For further information, please contact: Juan López-Belmonte Chairman and Chief Executive Officer www.rovi.es Javier López-Belmonte Deputy Chairman and Chief Financial Officer www.rovi.es Marta Campos Head of Finance mcampos@rovi.es www.rovi.es Beatriz de Zavala Investor Relations Analyst bdezavala@
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