Dri Healthcare Trust · TSX:DHT.U
Dri Healthcare Trust — Q2 2022 Earnings Presentation
9 slides from Dri Healthcare Trust's earnings presentation, Aug 4, 2022
Slide 1: Advancing Science in the Fast Growing Pharmaceutical and Biotechnology Sector
ADVANCING SCIENCE in the Fast Growing Pharmaceutical and Biotechnology Sector Q2 2022 Earnings Call | August 4, 2022
Slide 2: Disclaimer
DISCLAIMER Certain statements made in this Q2 2022 earnings call presentation, including responses to questions, may contain forward-looking statements within the meaning of the safe harbor provisions of Canadian provincial securities laws. Forward-looking statements involve risks and uncertainties
Slide 3: Advancing Our Strategy
ADVANCING OUR STRATEGY Cash flow growth Poised to execute Unitholder returns ▪ $24.5 million ▪ $283 million credit ▪ Declared distribution transaction for facility availability of $0.075 per unit pegcetacoplan royalty with option ▪ >$1 billion in pipeline to increase exposure 3
Slide 4: Q2 Financial Highlights
Q2 FINANCIAL HIGHLIGHTS Total Income $21.3 million Net Earnings and Other $3.1 million Comprehensive Earnings Total Cash Receipts(1) $25.3 million Adjusted EBITDA(1) $21.4 million Adjusted Cash Earnings per Unit(1) $0.43 1. Total Cash Receipts and Adjusted EBITDA are non-GAAP measures. Adjusted Cash
Slide 5: Pegcetacoplan Royalty Transaction
PEGCETACOPLAN ROYALTY TRANSACTION ▪ Empaveli® (pegcetacoplan) (marketed as Aspaveli® in EU) represents a significant advancement in the standard of care for paroxysmal nocturnal hemoglobinuria ▪ $24.5 million purchase price funded from cash on hand ▪ <1% royalty on worldwide net sales up to $500 mil
Slide 6: Asset Performance
ASSET PERFORMANCE ($ thousands) Total Cash Royalty Receipts(1) Q2 2022 Q2 2021 % Change Q1 2022 % Change Core Products Eylea 2,875 4,352 (34%) 2,946 (2%) FluMist - 23 (100%) 2,218 (100%) Natpara 649 513 27% 673 (4%) Oracea 1,959 - n/a 1,749 12% Rydapt 2,335 3,856 (39%) 2,963 (21%) Spinraza 4,573 5,6
Slide 7: Strong Cash Generation
STRONG CASH GENERATION Adjusted EBITDA for the Six Months Ended June 30, 2022 ($M)(1) $2.5 ($0.2) $46.2 ($3.8) $2.6 $41.3 ($3.1) $39.3 Adjusted EBITDA Margin(4) 85% Adjusted Cash Earnings per Unit(5) $0.91 (1) Royalty Net Change in Interest Receipts Non-Cash Royalty Total Cash Operating Management A
Slide 8: Well Capitalized for Growth
WELL CAPITALIZED FOR GROWTH ▪ As at June 30, 2022: ▪ $43.0 million of cash and cash equivalents ▪ Pegcetacoplan transaction closed using cash on hand ▪ $27.5 million of royalties receivable ▪ $67.0 million drawn on credit facilities ▪ Credit facility: Total size of $350 million ▪ $283 million avail
Slide 9: Our Key Priorities
OUR KEY PRIORITIES Grow asset Accretive Unitholder base growth returns Execute on strong Focus on long-term, Continue focus on pipeline to acquire sustainable growth unitholder returns royalties on high in top line royalty and appropriate quality assets that receipts and cash distribution policy mee