Slide 1: 2010 First half and 2Q results
Conference call, 28 July 2010 2010 First half and 2Q results
Slide 2: First Half 2010 Highlights
FIRST HALF 2010 HIGHLIGHTS • Revenue € 376.3 million, down 0.8%, international sales down 0.1% • Operating income (EBIT) € 83.8 million, up 1.6% • Net Income € 59.2 million, up 2.5% • Silodosin (Urorec®/Silodyx™) approved in Europe • Ca Carbaglu® bag u (ca (carglumic g u c ac acid) d) app approved o
Slide 3: Composition of Revenue
COMPOSITION OF REVENUE (million Euro) 1H 2010 1H 2009 Change % Italyy 105.9 109.0 ( ) (2.8) France 71.9 78.4 (8.3) Germany 30.5 32.1 (5.0) Portugal 18 7 18.7 21 4 21.4 (12 3) (12.3) Spain 14.9 15.8 (5.8) United Kingdom 5.0 7.4 (32.5) Other Western European countries 13.6 9.6 41.4 Russia, Turkey, oth
Slide 4: Geographical Breakdown of Pharmaceutical Revenue
GEOGRAPHICAL BREAKDOWN OF PHARMACEUTICAL REVENUE Portugal 5.2% Spain 4.1% Germany 8.4% UK 1.4% Other W. European countries 3.7% Russia Turkey Russia, Turkey, other CEE 9 9.1% 1% France 19.8% Other international sales 19.2% Italy 29.1% Data: First half 2010 Pharmaceutical revenue € 363.4 m 3
Slide 5: Main Product Sales
MAIN PRODUCT SALES (million Euro) 1H 2010 1H 2009 Change % Zanidip® (lercanidipine) 82 0 82.0 109.5 (25.1) Zanipress® (lercanidipine+enalapril) 14.5 8.0 81.6 Other corporate products 28.0 17.3 62.3 Orphan drugs 31.4 23.6 33.0 4
Slide 6: Composition of Revenue by Business
COMPOSITION OF REVENUE BY BUSINESS Zanipress 3.9% Other corporate products 7.5% Zanidip 21.8% Orphan drugs 8 8.3% 3% Pharmaceutical chemicals 3.4% Local product portfolios 49.7% Other revenue 5.4% Entact®/Elopram® 6% (escitalopram/citalopram) - Italy Peptazol® (pantoprazole) – Italy 3% Methadone – F
Slide 7: First Half 2010 Results
FIRST HALF 2010 RESULTS (million Euro) 1H 2010 1H 2009 Change % Revenue 376.3 379.3 (0.8) Gross Profit 254.9 258.0 (1.2) as % of revenue 67.7 68.0 SG&A Expenses 135.1 137.8 (1.9) as % of revenue 35.9 36.3 R&D & Expenses pe ses 32.9 33.7 33 ((2.4)) as % of revenue 8.7 8.9 Other Income (Expense), net
Slide 8: Second Quarter 2010 Results
SECOND QUARTER 2010 RESULTS (million Euro) 2Q 2010 2Q 2009 Change % Revenue 190.4 195.6 (2.7) Gross Profit 128.7 134.5 (4.3) as % of revenue 67.6 68.8 SG&A Expenses 69.4 72.0 (3.6) as % of revenue 36.4 36.8 R&D & Expenses pe ses 16.4 18.4 8 ((10.6) 0 6) as % of revenue 8.6 9.4 Other Income (Expense)
Slide 9: Net Financial Position and Shareholder's Equity
NET FINANCIAL POSITION AND SHAREHOLDER’S EQUITY (million Euro) 30 Jun 2010 31 Dec 2009 Change Cash and short-term financial 66.3 93.8 (27.5) investments Bank overdrafts and short-term (4.1) (28.9) 24.8 loans Loans – due within one year (1 3) (1.3) (2.4) 1.1 Loans – due after one year (81.8) (82.2) 0
Slide 10: Financial Projections: 2010 Targets, 2010-2012 Plan
FINANCIAL PROJECTIONS 2010 TARGETS, TARGETS 2010 - 2012 PLAN 2009 2010 2011 2012 Actual Targets Plan Plan (million Euro) Revenue 747.5 >700 730-740 780-800 Operating income (EBIT) 162.2 >140 145-150 155-160 Net Income 110.6 >95 100-102 110-112 Based on existing business, no new acquisitions included
Slide 11: 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