Navamedic Asa · OSL:NAVA
Navamedic Asa — Q4 2019 Earnings Presentation
23 slides from Navamedic Asa's earnings presentation, 2020
Slide 1: Fourth quarter results 2019 Navamedic ASA
Q4 2019 Fourth quarter results 2019 Navamedic ASA Kathrine Gamborg Andreassen, CEO Lars Hjarrand, CFO
Slide 2: Navamedic – 2019 highlights
Strong growth in Obesity and Medical Navamedic – 2019 highlights Nutrition Established strong platform for growth Launched Alflorex® in Denmark and signed agreement for launch in the Netherlands in 2H 2020 Acquisitions of MA’s (rights) to antibiotics REVENUE GROSS MARGIN EBITDA* and cough & cold pro
Slide 3: Navamedic at a glance
Navamedic at a glance Nordic pharma company with a North European footprint Navamedic - a reliable supplier of high-quality consumer health, medical nutrition and specialty pharma/branded generics products, delivered to hospitals and through pharmacies, meeting the specific medical needs for patient
Slide 4: Our growth strategy continues in 2020
Our growth strategy continues in 2020 Ambition of building a leading Nordic pharma company with a North European footprint Expanded to Greece Strengthen the core 1 Untapped potential within existing products, categories and territories Ongoing negotiations for attractive new distribution agreements
Slide 5: Medical nutrition - Continued strong performance
Strengthen the core Medical nutrition - Continued strong performance • Q4 2019 revenue growth of 5% on Q4 2018 GROWTH DRIVERS • Continued growth in existing product portfolio 2019 REVENUE • Launches of new products for the dietary treatment of 47.1 Tyrosinemia type 1 (liver disease) reimbursed in De
Slide 6: Obesity – Mysimba driving the growth in the category
Strengthen the core Obesity – Mysimba driving the growth in the category • Q4 2019 revenue growth of 34% on Q4 2018 2019 REVENUE GROWTH DRIVERS • New reimbursable 24.7 • prescription in Norway New marketing platform MNOK and patient support program (2018: 14.4 MNOK) Mysimba Mysimba is a prescription
Slide 7: Consumer Health – new focus area
Strengthen the core Consumer Health – new focus area • 2019 revenue growth of 6% vs 2018, 7% growth in Q4 2019 vs Q42018 GROWTH DRIVERS • Launched in Norway in Q3 2019 REVENUE 2019 and recently launched in Denmark Accelerating from • Launching in the Iceland 1MNOK since first launch • Q2 and Netherl
Slide 8: Strong performance of key products
Products Strong performance of key products Q4 2019 YoY rev. growth • Weak perfomance as a result of CARDIOLOGY -33% supply issues for Imdur • Strong performance of newly MEDICAL 5% launched products and continued NUTRITION growth of main products • Mysimba continues its strong OBESITY 34% performan
Slide 9: Financials
Financials 4 2019 9 @Navamedic
Slide 10: Pharma and Healthcare segment
Financials Pharma and Healthcare segment1 • Q4 revenues below expectations mainly due to supply issues with Imdur® (in NOK million) Q4 2019 Q4 2018 Year 2019 Year 2018 • Strong performance in Obesity and Operating revenues 47.3 51.8 188.8 183.9 Medical Nutrition product categories Gross profit 15.2
Slide 11: Key consolidated profit and loss figures
Financials Key consolidated profit and loss figures • EBITDA is negatively affected by (in NOK million) Q4 2019 Q4 2018 Year 2019 Year 2018 costs related to the de- Operating revenues 47.3 51.8 188.8 183.9 merger/listing process of Observe Gross profit 14.0 16.6 57.6 60.8 Medical Gross profit % 29.7
Slide 12: Assets
• The decrease in intangible assets is due to Observe Financials Medical de-merger Assets • Goodwill changes are due to reduction from Observe Medical (in NOK million) 31.12.2019 31.12.2018 de-merger partly offset by the Intangible assets 6.6 30.1 acquisition of Novicus Pharma Goodwill 59.5 79.6 Inv
Slide 13: Equity and liabilities
Financials Equity and liabilities • Equity ratio of 42.4% (in NOK million) 31.12.2019 31.12.2018 • Contingent consideration was Equity 79.3 99.3 related to Observe Medical, Contingent consideration 0.0 12.2 hence reduced to 0 NOK Long term part of license liabilities 9.6 10.2 • Loans and borrowings
Slide 14: Cash flow Group – total operations
Financials Cash flow Group – total operations • Positive net cash flow from (in NOK million) Q4 2019 Q4 2018 Year 2019 Year 2018 operating activities (full year) Net cash flow from operating activities -0.5 -7.4 12.9 -36.0 mostly due to improvements in Net cash flow from investing activities 2.7 -1.
Slide 15: Summary and outlook
Summary and outlook Q4 2019 15
Slide 16: Summary and outlook
Navamedic Q4 2019 Summary and outlook Building a leading Nordic pharma company with a North European footprint In 2019, we have • Made Navamedic into a pure play pharma company – demerged and separately listed Observe Medical • Launched existing products in new markets – eg Imdur in Greece • Launche
Slide 17: Q&A
Q&A Q4 2019 17 @Navamedic
Slide 18: Thank you for your attention!
Thank you for your attention! Navamedic Q1 2020 presentation will be on May 14th, 2020 Q4 2019 18
Slide 19: Appendix
Appendix 19 @Navamedic 4 2019
Slide 20: Condensed consolidated statement of comprehensive income
Appendix Condensed consolidated statement of comprehensive income (in NOK '1000) Q4 2019 Q4 2018 Year 2019 Year 2018 Operating revenues 47 261 51 795 188 755 183 916 Cost of materials -33 247 -35 160 -131 152 -123 111 Gross profit 14 014 16 634 57 603 60 804 Gross profit % 29.7 % 32.1 % 30.5 % 33.1
Slide 21: Condensed consolidated statement of cash flows
Appendix Condensed consolidated statement of cash flows (in NOK '1000) Q4 2019 Q4 2018 Year 2019 Year 2018 Profit/loss(-) before tax for total operations -10 784 15 226 -24 488 7 011 Taxes paid 2 080 235 329 -5 335 Depreciation, amortization and write off 1 079 1 493 5 769 6 212 Interest and conting
Slide 22: Basis for preparation and Definitions of Alternative Performance Measures
Appendix Basis for preparation This presentation provides financial highlights for the quarter for Navamedic Group. The financial information is not reported according to the requirements in IAS 34 (Interim Financial Reporting) and the figures are not audited. The same measurement principles as pres
Slide 23: Copyright and disclaimer
Appendix Copyright and disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Navamedic and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any