Slide 1: 2012 First half results
2012 First half results 26 JULY 2012
Slide 2: First half 2012 highlights
First half 2012 highlights • R Revenue € 419.9 419 9 million, illi up 4.7%. 4 7% • Operating income (EBIT) € 90.2 million or 21.5% of sales, up 2.3%. • N t income Net i € 63.3 63 3 million illi or 15.1% 15 1% off sales, l up 1.5%. 1 5% • Phase III trials started for REC 0482, the new innovative BPH
Slide 3: Main product sales
Main product sales Corporate products including orphan drugs now account for 43.1% of revenue (million Euro) 1H 2012 1H 2011 Change % Zanidip® (lercanidipine) 61.6 69.2 (10.9) ® ((lercanidipine+enalapril) p Zanipress p p ) 24.2 19.6 23.9 Urorec® (silodosin) 14.5 7.9 84.3 Livazo® (pitavastatin) 7.0 2
Slide 4: A richer product portfolio
A richer product portfolio Urorec 3.5% Livazo 1.7% Other corporate products 8.3% Zanipress 5.8% Orphan drugs 9.2% Zanidip 14.6% Pharmaceutical chemicals 3.6% Subsidiaries’ local product Other revenue 1.8% portfolios 51.5% Entact®/Elopram® 5% (escitalopram/citalopram) ‐ Italy Tergynan® ‐ Russia & CIS
Slide 5: Composition of revenue
Composition of revenue New markets and new products drive growth (million Euro) 1H 2012 1H 2011 Ch Change % Italy 114.9 121.8 (5.7) France 62.3 66.2 (5.8) Germany 33.4 32.8 1.8 Turkey 31.8 16.3 95.2 Spain 17 6 17.6 16 3 16.3 79 7.9 Portugal 16.9 17.2 (1.8) United Kingdom 3.3 4.2 (21.6) Oh W Other We
Slide 6: A growing presence in Eastern Europe and Turkey
A growing presence in Eastern Europe and Turkey Spain 4.4% Portugal 4.2% Turkey 7.8% UK 0.8% Germany 8.2% Other W. European countries 2.5% Russia, other CEE 8.0% France 15.4% Other international sales 20.4% (sales to licensees and exports) Italy 28.3% Data: 1H 2012 Pharmaceutical revenue € 405.0 m 6
Slide 7: First half 2012 results
First half 2012 results Sales and earnings growth in line with guidance (million Euro) 1H 2012 1H 2011 Change % Revenue 419.9 401.0 4.7 Gross Profit 272.4 267.5 1.8 as % of revenue 64 9 64.9 66 7 66.7 SG&A Expenses 151.6 147.8 2.6 as % of revenue 36.1 36.8 R&D Expenses 28.8 30.9 (7.0) as % of revenu
Slide 8: Financial position and Shareholders' equity
Financial position and Shareholders’ equity ( ll Euro)) (million 30 Jun 2012 31 Dec 2011 Change Cash and short‐term financial 79.1 105.2 (26.1) investments Bank overdrafts and short‐term loans (5.6) (13.6) 8.0 Loans – due within one year (7 6) (7.6) (11 6) (11.6) 40 4.0 Loans – due after one year (1
Slide 9: Financial projections
Financial projections Challenging 2012 targets 2011 2012 (million Euro) Actuall Targets Revenue 762.0 810‐830 Operating income (EBIT) 163.5 160‐170 Net Income 116.4 115‐120 9
Slide 10: Company declarations, disclaimers and profile
Company declarations, disclaimers and profile DECLARATION BY THE MANAGER RESPONSIBLE FOR PREPARING THE COMPANY’S FINANCIAL REPORTS The manager responsible for preparing the company’s financial reports Fritz Squindo declares, pursuant to paragraph 2 of Article 154‐bis of the Consolidated Law on Finan