AstraZeneca PLC · LSE:AZN
AstraZeneca — Debt Investor Presentation (February 2023)
32 slides from AstraZeneca's debt investor presentation, Feb 9, 2023
Slide 1: Full Year and Q4 2022 Results
Full Year and Q4 2022 Results Fixed-income investor update 9 February 2023 1
Slide 2: Forward-looking statements
Forward-looking statements AstraZeneca (hereafter ‘the Group’) provides the following cautionary statement: this document contains certain forward-looking statements with respect to the operations, performance and financial condition of the Group, including, among other things, statements about expe
Slide 3: Disclaimer and Non-GAAP measures
Disclaimer This presentation is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which an offer, solicitation, or sale is unlawful. Non-GAAP measures This presentation contains financial meas
Slide 4: Key messages
Key messages AstraZeneca FY 2022 – robust growth Delivered on our upgraded FY 2022 guidance Maintaining innovation and pipeline delivery Rapidly advancing high potential new medicines Well positioned to deliver industry-leading growth 2025+ Longer-term growth fuelled by existing portfolio and new in
Slide 5: Business update
Business update 5
Slide 6: Strong FY 2022 – well positioned to deliver future growth
Strong FY 2022 – well positioned to deliver future growth Delivered on our upgraded FY 2022 guidance Broad-based, diverse source of business Total Revenue Core EPS FY 2022 | % Total Revenue by therapy area1 Oncology CVRM R&I V&I Rare Disease Other $6.66 +25% $44.4bn +33% 35% 21% 13% 11% 16% 4% CER C
Slide 7: Exciting pipeline progress in FY 2022
Exciting pipeline progress in FY 2022 – rapidly advancing high-potential new medicines Initiating >30 Phase III trials in 2023 12 8 select examples: including 10 potential blockbusters blockbuster medicines1 positive Phase III read-outs with durable LoE profile across 7 unique medicines camizestrant
Slide 8: Investing to unlock next waves of innovation
Investing to unlock next waves of innovation Committed to science-led innovation investment in new platforms and technologies 156 high-impact journal manuscripts • Small molecules e.g., PROTACS, nanoparticles published1 • Cell-based therapy e.g., CAR-T, TReg stabilisation • • Antibodies e.g., ADCs,
Slide 9: Industry-leading outlook to 2025 and beyond
Industry-leading outlook to 2025 and beyond Ambition to launch at least 15 NMEs by 2030 2023 mid-to-long term ambition Strong underlying revenue Total Revenue ambition2: and profitability growth Low double-digit % CAGR 2021 - 2025 • Continued existing medicines growth Industry-leading growth 2025+ •
Slide 10: Oncology: FY 2022
Oncology: FY 2022 Broad, differentiated portfolio drives strong commercial performance Oncology Q4 2022: key dynamics FY 2022 $15.5bn, +20% at CER 4,500 4,000 • Double-digit Product Sales growth across: 3,500 • US, +23% CER 3,000 • Europe, +21% CER • Emerging Markets, +14% CER Total Revenue ($m) 2,5
Slide 11: Oncology: near-term commercial performance drivers
Oncology: near-term commercial performance drivers Continuing launch execution, expanding geographic presence, establishing new SoC FY 2022: $5.4bn, +15% at CER FY 2022: $2.8bn, +21% at CER FY 2022 PS: $2.6bn, +18% at CER Demand expansion with FLAURA DoT Strong start in BTC: rapid TOPAZ-1 uptake PAO
Slide 12: BioPharmaceuticals: FY 2022
BioPharmaceuticals: FY 2022 Total Revenue $20bn, +11% at CER, driven by Farxiga strength and R&I launches CVRM R&I V&I FY 2022 $9.2bn, +19% at CER FY 2022 $6.0bn, +3% at CER FY 2022 $4.8bn, +8% at CER 2,500 2,500 1,800 1,600 2,000 2,000 1,400 Total Revenue ($m) Total Revenue ($m) 1,200 1,500 1,500 T
Slide 13: BioPharmaceuticals: near-term commercial drivers
BioPharmaceuticals: near-term commercial drivers Capitalising on pipeline advances, expanding patient reach and driving practice change Executing launch in major markets Competitive launch in expanding class US approval as first ICS/SABA Self-admin launch (US, EU) GOLD Report 2023 highlights Breztri
Slide 14: Rare Disease: FY 2022
Rare Disease: FY 2022 Strong neurology growth across C5, continued strength beyond complement Rare Disease Q4 2022: key dynamics FY 2022 $7.1bn, +10% pro forma1 at CER 2,000 Durable C5 Franchise growth 1,800 1,600 • Ultomiris +62%1 gMG launch and expansion into new markets 1,400 • Soliris (16%)1 dec
Slide 15: Financial update
Financial update
Slide 16: FY and Q4 2022 – Core profit and loss
FY and Q4 2022 – Core profit and loss Continued operating leverage FY 2022 CER change % total Q4 2022 CER change % total $m % revenue $m % revenue Total Revenue 44,351 25 100 11,207 1 100 - Product Sales 42,998 24 97 10,798 2 96 - Collaboration Revenue 1,353 56 3 409 (19) 4 Product Sales Gross 80.0%
Slide 17: FY and Q4 2022 – Reported profit and loss
FY and Q4 2022 – Reported profit and loss Continued strong top-line growth FY 2022 CER change % total Q4 2022 CER change % total $m % revenue $m % revenue Total Revenue 44,351 25 100 11,207 1 100 - Product Sales 42,998 24 97 10,798 2 96 - Collaboration Revenue 1,353 56 3 409 (19) 4 Product Sales Gro
Slide 18: FY 2022 – Net Debt and Cash Flow
FY 2022 – Net Debt and Cash Flow Strong cash flow from operations delivered improved cash flow in 2022 Net Debt bridge • Strong investment grade credit rating $bn • Reinvestment in the business • Value-enhancing business development Net debt end 2021 CFO Capex Deal payments and receipts1 Dividend Ot
Slide 19: FY 2023 guidance (CER)
FY 2023 guidance (CER) Strong underlying business drives growth well ahead of declines in COVID-19 medicines Other elements of 2023 guidance Total Revenue • Total Revenue from COVID-19 medicines Excluding COVID-19 medicines1, low double-digit % increase expected to decline significantly Including CO
Slide 20: Net debt position
Net debt position 31-Dec-22 31-Dec-21 $m $m Gross debt (29,232) (30,781) Cash & cash equivalents 6,166 6,329 Other investments 239 69 Net derivative financial instruments (96) 61 Closing net debt 1 (22,923) (24,322) 1. Net debt is a non-GAAP measure. The equivalent GAAP measure to Net Debt is ‘liabi
Slide 21: Liquidity, debt and rating summary
Liquidity, debt and rating summary • Strong liquidity at 31 December 2022 • Group cash and investments of $6.4bn • Undrawn $4.9bn committed bank facilities which mature in 2026 • On 2 February 2023, the Group entered into an additional $2bn of two year committed bank facilities. • Access to diverse
Slide 22: Smooth debt maturity profile with seven-year average life
Smooth debt maturity profile with seven-year average life Debt Maturity Profile at 31 December 2022 1 6,000 5,000 4,000 $m 3,000 2,000 1,000 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2037 2042 2045 2048 2050 2051 USD Overdrafts, finance leases & bank collateral EUR GBP Term bank loans 1. Notion
Slide 23: Full Year and Q4 2022 Results
Full Year and Q4 2022 Results Fixed-income investor update 9 February 2023 23
Slide 24: Appendix
Appendix
Slide 25: Delivering on science-led innovation
A P P E N DI X | Pipeline Highlights Delivering on science-led innovation Selected key pipeline highlights since YTD2022 results Oncology BioPharmaceuticals Rare Disease 3 Fast Track Designations (US): 16 regulatory approvals in major markets, including: capivasertib Imfinzi +/- Imjudo (US, JP) Enhe
Slide 26: AstraZeneca pipeline momentum in 2023
A P P E N DI X | Pipeline Highlights AstraZeneca Accelerating pipeline momentum in 2023 and disciplined investment to fuel industry-leading growth Pipeline advances in 2023 Sustainable, long-term growth with 18 Phase III read-outs anticipated, including: Ambition through commercial execution, R&D to
Slide 27: ESG & Corporate Sustainability
A P P E N DI X | ESG & Corporate Sustainability AstraZeneca Maintained leading rating since 2014 AstraZeneca vs. industry average AA SCORECARD by KEY ATTRIBUTE HIGHLIGHTS ESG RATINGS as of January 2023 Access to Healthcare Robust initiatives to capitalize on access to healthcare opportunities AstraZ
Slide 28: Geographic growth
A P P E N DI X | 2022 Financial Highlights Geographic growth China 13% of Total Revenue Europe 21% No change US 20% of 47% 40% of Total Revenue Total Revenue Established 40% Emerging Markets RoW (ex-China) 13% of 13% of 1% Total Revenue Total Revenue FY 2022 Regional Total Revenue as reported Growth
Slide 29: FY 2022 Reconciliation of Reported to Core Financial Measures
A P P E N DI X | 2022 Financial Highlights FY 2022 Reconciliation of Reported to Core Financial Measures Intangible Asset Acquisition of Reported Restructuring Amortisation & Other1, 2 Core Alexion Impairments $m $m $m $m $m $m Gross Profit 31,960 266 32 3,506 (1) 35,763 Distribution Expense (536) 2
Slide 30: Q4 2022 Reconciliation of Reported to Core Financial Measures
A P P E N DI X | Q4 2022 Financial Highlights Q4 2022 Reconciliation of Reported to Core Financial Measures Intangible Asset Acquisition of Reported Restructuring Amortisation & Other1 Core2 Alexion Impairments $m $m $m $m $m $m Gross Profit 8,307 110 8 320 - 8,745 Distribution Expense (156) - - - -
Slide 31: Prudent treasury risk-management policies
A P P E N DI X | Treasury Policy Prudent treasury risk-management policies The Company operates with a centralised Treasury structure so that key Treasury risks are managed at a Group level. Liquidity Policy • Prudent level of available cash and unutilised credit facilities • Group funding centrally
Slide 32: Use of AstraZeneca slides from conference calls and webcasts
Use of AstraZeneca slides from conference calls and webcasts The AstraZeneca webcast, conference call and presentation slides (together the ‘AstraZeneca materials’) are for your personal, non-commercial use only. You may not copy, reproduce, republish, post, broadcast, transmit, make available to th
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