Saudi Pharmaceutical Industries & Medical Appliances Corp. · TADAWUL:2070
Saudi Pharmaceutical Industries & Medical Appliances — FY2021 Earnings Presentation
24 slides from Saudi Pharmaceutical Industries & Medical Appliances's earnings presentation, Apr 5, 2022
Slide 1: SPIMACO FY21 Results Investor Presentation
SPIMACO FY21 Results Investor Presentation Disclosure as at 31st December 2021 5 April 2022 اﻟﻮﺻﻒ ﻫﻨﺎ
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Saudi Pharmaceutical Industries and Medical Appliances Corporation (“SPIMACO”) and reflects the management’s current expectations or strategy concerning future events that are subject to known and unknown risks and uncertainties. Some of the statemen
Slide 3: Contents
Contents Key Performance Highlights Operational Review Financial Review Q&A Session Appendix 3
Slide 4: Key Performance Highlights
Key Performance Highlights
Slide 5: Financial Highlights
Financial Highlights SAR million SAR million SAR million SAR million Gross Profit FY21 Operating Profit FY21 Net Profit FY21 Revenue FY21 619.9 55.5 18.1 1,459.8 Gross Profit FY20 Operating Profit FY20 Net Profit FY20 Revenue FY20 690.5 153.7 109.5 1,555.3 % ∆ y-o-y % ∆ y-o-y % ∆ y-o-y % ∆ y-o-y - 6
Slide 6: Operational Highlights
Operational Highlights Robust balance sheet and low financial leverage maintained, enabling SPIMACO to rapidly raise low- cost capital to fund future growth initiatives Progressed major expansion projects and growth Registered 30 new products in 2021 taking initiatives such as the completion o
Slide 7: Operational Review
Operational Review
Slide 8: Delivered on growth strategy with ongoing actionable initiatives
Delivered on growth strategy with ongoing actionable initiatives Organizational People & Culture Strengthen Scientific Automation & Digital Commercial & Operational Restructuring Transformation Capabilities & Portfolio Transformation Excellence New operating model & Performance Strengthen R&D,
Slide 9: Positioned well to capitalize on national & regional growth opportunities
Positioned well to capitalize on national & regional growth opportunities Saudi retail sector expected to return to pre- KSA’s pharmaceutical market expected to grow steadily in 2020-2024 pandemic growth levels starting 2H 2022, while LPO and tender sectors should witness Pharmaceutical market out
Slide 10: Financial Review
Financial Review
Slide 11: Performance Highlights
Performance Highlights Profit margins (quarterly) Income statement highlights (quarterly) 600 53% 52% 500 46% 47% 42% 44% 400 38% 31% 300 GP margin 17% 200 NP margin 9% 8% 9% 100 5% 2% -5% 0 -12% (100) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Revenues Gross pro
Slide 12: Revenue breakdown
Revenue breakdown Revenue Breakdown by geography Y-o-Y Revenue Breakdown by segment Y-o-Y Revenue Breakdown by sector Y-o-Y FY2021 FY2020 FY2021 FY2020 FY2021 FY2020 91% 91% 93% 55% 87% 52% 29% 23% 10%10% 8% 7% 9% 6% 3% 2% 7% 6% 2% 1% 1% 1% 0% 1% 1% 0% Private MoH & Exports Subsidiaries Services KSA
Slide 13: EBITDA Bridge Analysis (SAR mn)
EBITDA Bridge Analysis (SAR mn) 300 15 12 250 241 (9) 200 (71) (13) 143 150 (33) 100 50 0 EBITDA 2020 ECL provision Other income Research expenses Gross profit S&M expenses G&A expenses EBITDA 2021 13
Slide 14: Net Income Bridge Analysis (SAR mn)
Net Income Bridge Analysis (SAR mn) 180 5 2 4 32 12 160 140 (10) 15 120 110 100 (71) 80 (27) 60 (13) (7) 40 18 20 (33) (2) 0 14
Slide 15: Cash Flow Bridge Analysis (SAR mn)
Cash Flow Bridge Analysis (SAR mn) 800 95 (3) 700 141 20 (10) (118) 600 (29) 141 500 (145) 400 32 334 330 300 (128) 200 100 0 Cash at Profit before Non-cash Proceeds Increase in Decrease in Others Increase in Dividends Financial Increase in Net loans Cash at 1/1/2021 tax adjustment from AP Inventory
Slide 16: Q&A session
Q&A session y/
Slide 17: Appendix
Y ana Appendix ¥ @ GO SpimacoAddwaeih tuilgall gfloum www.spimaco.sa SPIMACO ADDWAEIH a
Slide 18: The Oldest & Largest Vertically Integrated Pharmaceutical Manufacturer in Saudi Arabia
The Oldest & Largest Vertically Integrated Pharmaceutical Manufacturer in Saudi Arabia SPIMACO ADDWAEIH, established in 1986, is Unparalleled footprint in All the Major MENA Markets one of the oldest and largest vertically integrated pharmaceutical manufacturers in Saudi Arabia Fully integrated
Slide 19: Fully integrated across the value chain
Fully integrated across the value chain Through market-leading R&D, production and manufacturing, SPIMACO produces world-class products for the Kingdom and key regional markets. In 2021, the Company built on its strong foundation and track record to overcome challenging conditions, demonstrating its
Slide 20: Diversified commercial product suite and production lines across broad treatment areas
Diversified commercial product suite and production lines across broad treatment areas Product suite Production lines Available capacity Utilization Tablets & Oral Solids Capsules 1760 m 67.8% Bottles Oral Liquids (100-150ml) 55 m 30.6% Anti- Blood Systemic Diabetic Formation anti-infective Tablets,
Slide 21: Saudi partner of choice for leading global pharmaceuticals
Saudi partner of choice for leading global pharmaceuticals SPIMACO is trusted by the world’s largest and premier pharma companies to manufacture their branded products in the Kingdom The Company is the leading Saudi white label manufacturer with long and established partnerships with global indu
Slide 22: Fully aligned our strategic goals with Vision 2030 objectives
Fully aligned our strategic goals with Vision 2030 objectives Increase private sector’s Prevention contribution against health to 65% 1 2 threats Improve the value of of GDP healthcare Raise the services share of non-oil exports to 50%* Become a * 50% of total customer- Non-oil GDP centered organiza
Slide 23: SPIMACO continuously monitors & manages regulatory impacts
SPIMACO continuously monitors & manages regulatory impacts Filing Process From a lengthy, non-transparent and complicated filing system, to now Impact on Industry online and no appointment needed Enhanced the submission process and reduced the time for Pricing scheme approval SFDA has publishe
Slide 24: Thank you. Investor relations
Thank you. Investor relations investor.relations@spimaco.sa