Imexpharm Corporation · HOSE:IMP
Imexpharm — Q3 2024 Earnings Presentation
14 slides from Imexpharm's earnings presentation, Sep 30, 2024
Slide 1: Investor & Analyst Presentation
INVESTOR & ANALYST PRESENTATION IMEXPHARM CORPORATION Q3 and Nine Months to 30 September 2024
Slide 2: Year-to-date results underpinned by continued market leadership reinforcement
Year-to-date results underpinned by continued market leadership reinforcement Net revenue 9M Net revenue Q3 ▲ ▲ VND 1,553 bn VND 545 bn Antibiotics 12 ▲ 12% YoY market share ▲ 5% QoQ EU-GMP lines 9.6% in total EBITDA 9M EBITDA Q3 VND 334 bn 13.3% VND 118 bn 12.6% 12.7% 14.0% 11.9% ▼ 4% YoY (H1: down
Slide 3: Substantial growth in Sep positions the company for a robust final quarter
Substantial growth in Sep positions the company for a robust final quarter September Net revenue VND 209 bn Imexpharm is encouraged by its September performance, ▲ 28% YoY in particular the demand for ETC ▲ 81% YoY IMP4 products and the revival of OTC via pharmacy chains September EBITDA September 2
Slide 4: A highly successful Q3 has re-energized Imexpharm's growth rate
A highly successful Q3 has re-energized Imexpharm’s growth rate Net revenue Q3 ▪ Aggressive expansion in ETC revenues VND 545 bn Recovery in OTC channel driven by sales to ▲ 17% YoY pharma chains and the recovery of sales to ▲ 5% QoQ retail pharmacies. ▪ Completed bonus share issuance EBITDA Q3 tran
Slide 5: Growing stronger than the industry in 9M2024
Growing stronger than the industry in 9M2024 Net revenue Nine Months 12% 9M net revenue VND 1,553 bn yoy growth ▲ 12% YoY 4% EBITDA Nine Months Imexpharm VND 334 bn Market ▼ 4% YoY (H1: down 7%) Market figures based on business results PBT Nine Months of top 5 local VND 252 bn 9M PBT pharma companie
Slide 6: ETC continues to drive total sales; OTC shows signs of recovery
ETC continues to drive total sales; OTC shows signs of recovery Gross Revenue (VND bn) ETC Channel ETC 57% yoy • Ongoing hospital channel growth and partner expansion +21% ETC-P 61% yoy • Significant contribution from new SKUs in Q3 81% 19% • Overall H1 ETC market growth of 11% ETC-P ETC-I indicates
Slide 7: IMP boosted production at its higher-value, EU-GMP factories
IMP boosted production at its higher-value, EU-GMP factories 4% Factory Production volume 9M24 vs. 9M23 6% 9M24 IMP1 (9%) IMP2 17% 3% 39% IMP3 (9%) 3% IMP4 151% 9M23 38% 52% 31% Others 54% 11% TOTAL (7%) Production volume declined due to (i) inventory rebalancing at IMP1 ; (ii) one line of non-beta
Slide 8: Imexpharm is aligned with the positive macro-forces shaping Vietnam
Imexpharm is aligned with the positive macro-forces shaping Vietnam Average forecast GDP growth, Key growth drivers powering Vietnam’s 2023-2027 ongoing development Strong income Improving growth infrastructure Favorable Expanding demographics trading network Stable policy Beneficiary of environment
Slide 9: Vietnam's new Pharmaceutical Law is a catalyst for growth
Vietnam’s new Pharmaceutical Law is a catalyst for growth Local production value contribution As per new Pharmacy Law, Vietnam aims to position itself as a regional hub for high-value pharmaceutical production. - Improving the efficiency of administrative 17% 45% 70% processes to enhance public acce
Slide 10: New Chairman and Deputy CEO contribute 50+ years of experience
New Chairman and Deputy CEO contribute 50+ years of experience Chairman Deputy CEO - Chief Commercial Officer Mr Sung Min Woo (Matthew) Ms Le Nu Minh Hoai ▪ Over 20 years of experience helping Asian ▪ Former General Director of United International corporates become industry leaders Pharma (UIP) ▪ H
Slide 11: Foundations ready to support Imexpharm's exciting future
Foundations ready to support Imexpharm’s exciting future Charter capital raise New factory investment plan Fulfilled plan to strengthen equity base 25,000 sqm and enhance market 01 04 VND1,495 billion liquidity, supporting 20% equity future growth plans 80% debts Continued 12 EU-GMP lines investment
Slide 12: Key drivers for the final quarter of 2024
Key drivers for the final quarter of 2024 Target 2023 Target 9M24 Completion rate vs. No. (VND Bn) (VND Bn) growth (VND Bn) target 1 Gross revenue 2,114 24% 1,746 66% 2 Net revenue 1,994 19% 1,553 66% 3 PBT 377 12% 252 60% 4 EBITDA 466 18% 334 61% ▪ An additional production line at IMP4 has become r
Slide 13: IMP: Outperforming pharma industry and market
IMP: Outperforming pharma industry and market % 160 Avg share price of top 5 pharma companies by IMP stock price revenue 120 80 40 VNIndex 0 -40 Stock price (VND) 50,000 Market cap (VND) 7,700 Bn Up 97% ytd IMP Average daily trading volume in 9M24 (shares) 68,736 x5 vs. 2023 average (HOSE) EBITDA mu
Slide 14: Thank You
Thank You For further discussion, please contact our IR team ir@imexpharm.com 14