Swedish Orphan Biovitrum Ab · OMXSTO:SOBI

Swedish Orphan Biovitrum Ab — Q2 2017 Earnings Presentation

26 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Jul 19, 2017

  1. Slide 1: Q2 and H1 2017 results presentation

    Guido Oelkers, CEO Mats-Olof Wallin, CFO Armin Reininger, SVP, Medical and Scientific Affairs 19 July 2017 Q2 and H1 2017 results presentation

  2. Slide 2: Forward looking statements

    Forward looking statements In order to utilize the ‘Safe Harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995, Swedish Orphan Biovitrum is providing the following cautionary statement. This presentation contains forward-looking statements with respect to the finan

  3. Slide 3: Business highlights Q2 2017

    Business highlights Q2 2017 - strong momentum of the business • Strong quarter on quarter growth • A new Specialty Care business unit established • Updated outlook for 2017 • Elocta® was approved in the Kingdom of Saudi Arabia for the treatment of haemophilia A • EMA approved the potential to dose e

  4. Slide 4: Financial highlights Q2 2017 (adjusted)

    Financial highlights Q2 2017 (adjusted for one-time credit in Q2 2016) 1,800 Total revenue (SEK M) • Total revenue: SEK 1,639 M (1,083) 1,600 • Increase of 51% • Excludes one-time credit SEK 386 M 1,400 1,200 • Gross margin: 71% (63) • Excludes one-time credit of SEK 386 M 1,000 800 • EBITA: SEK 492

  5. Slide 5: Financial highlights Q2 2017

    Financial highlights Q2 2017 1,800 Total revenue (SEK M) • Total revenue: SEK 1,639 M (1,469) 1,600 12% growth (5% at CER) 1,400 • Gross margin: 71% (72) 1,200 • EBITA: SEK 492 M (550) 1,000 800 600 400 200 0 15Q1 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 5

  6. Slide 6: Financial highlights H1 2017 (adjusted)

    Financial highlights H1 2017 (adjusted for one-time inventory release Q1 2017 and credits in H1 2016) • Total revenue: SEK 3,035 M (2,034) • Increase of 49% • Excludes one-time credit SEK 708 M in 2016 • Gross margin: 70% (64) • Excludes one-time credit SEK 708 M in 2016 and an inventory release of

  7. Slide 7: Financial highlights H1 2017

    Financial highlights H1 2017 • Total revenue: SEK 3,035 M (2,742) 11% growth (6% at CER) • Gross margin: 72% (73) • EBITA: SEK 898 M (1,052) • Cash flow operations: SEK 497 M (235) 7

  8. Slide 8: ReFacto – a stable source of earnings

    ReFacto – a stable source of earnings • Manufacturing and royalty revenue SEK 196 M (181) Revenues (SEK M): ReFacto  increase of 8% 250 1 000 200 800 • Manufacturing revenue SEK 184 M (142) 150 600 100 400 • Royalty revenue 50 200 SEK 12 M (39) 0 0 • Royalty to Sobi from ReFacto AF Q1 Q2 Q3 Q4 Q1 Q

  9. Slide 9: Commercial results

    Commercial results Guido Oelkers

  10. Slide 10: Kineret – strong underlying growth

    Kineret – strong underlying growth • Q2 revenue SEK 286 M (243)  increase of 18% Revenues (SEK M): Kineret • H1 revenue SEK 563 M (471) 300 1 200  increase of 20% 250 1 000 200 800 • Growth driven by North America and 150 600 major EMENAR markets 100 400 50 200 • Health Canada approved the NOMID 0

  11. Slide 11: Orfadin – enables new-borns with HT-1 growing up

    Orfadin – enables new-borns with HT-1 growing up… • Q2 revenue SEK 220 M (182)  increase of 21% Revenues (SEK M): Orfadin • H1 revenue SEK 437 M (379) 250 1 000  increase of 15% 200 800 150 600 • North American growth driven by 20 mg and Oral suspension launches 100 400 • EMENAR flat, influenced b

  12. Slide 12: Partner Products - platform to build rare disease franchises

    Partner Products - provides a great platform to build rare disease franchises • Q2 revenue SEK 184 M (212 M)  decrease of 13% Revenues (SEK M): Partner Products • H1 revenue SEK 363 M (399) 250 1 000  decrease of 9% 200 800 • Continued growth of Xiapex 150 600  Xiapex was recommended to be made a

  13. Slide 13: Haemophilia – benefits of our franchise increasingly recognised

    Haemophilia – the benefits of our franchise are getting increasingly recognised… Royalty and Sales Revenues (SEK M): Haemophilia  Total revenue SEK 726 M (627) 800  SEK 434 M (60) in sales revenue 700 600  SEK 292 M (554) in estimated royalty 500 revenue 400  Increase of SEK 124 M excluding 300

  14. Slide 14: Alprolix – accelerating momentum

    Alprolix – accelerating momentum • Q2 sales revenue SEK 84 M (5) Sales Revenues (SEK M): Alprolix  SEK 34 M (65%) growth compared to Q1 2017 100  Primarily derived from Ireland, 80 Germany and the UK 60 • H1 sales revenue SEK 134 M (5) 40 • Reimbursed in 12 countries • EMA approved the potential t

  15. Slide 15: Elocta – strong evolution of underlying business growth

    Elocta – strong evolution of underlying business growth  Q2 sales revenue SEK 351 M (55) Sales Revenues (SEK M): Elocta  SEK 100 M (40%) growth compared to Q1 2017 400  Primarily derived from Germany and France 300  H1 sales revenue 200 SEK 601 M (75) 100  Now reimbursed in 18 countries 0 Q1 Q2

  16. Slide 16: Elocta scientifics

    Elocta scientifics Armin Reininger, Prof., MD, PhD

  17. Slide 17: Elocta – EHL beyond efficacy

    Elocta – EHL beyond efficacy • Fc Fusion Technology - more than extended half-life • Higher trough levels vs conventional rFVIII • Impact on patient care - Elocta can reduce ABRs and treatment burden vs conventional rFVIII • Retrospective and preliminary data on Immune Tolerance Induction - 19 case

  18. Slide 18: Financial results

    Financial results Mats-Olof Wallin

  19. Slide 19: Profit & loss statement

    Profit & loss statement Amounts in SEK M Q2-17 Q2-16 H1-17 H1-16 FY 2016 Total revenues 1,639 1,469 3,035 2,742 5,204 Gross profit 1,163 1,065 2,191 2,009 3,651 Gross Margin 71% 72% 72% 73% 70% Sales and Administration -413 -325 -796 -640 -1,366 Research and development -247 -202 -465 -340 -778 Othe

  20. Slide 20: Adjusted for one-time items

    Adjusted for one-time items Change Change Change Change Revenues, SEK M Q2 -17 Q2 -16 SEK M % H1 -17 H1 -16 SEK M % Total revenues reported 1,639 1,469 170 12% 3,035 2,742 293 11% One-time credit Q1 2016 (Elocta) -322 One-time credit Q2 2016 (Alprolix) -386 -386 Total revenues excluding one-time cre

  21. Slide 21: Balance sheet

    Balance sheet Amounts in SEK M Jun 2017 Dec 2016 Jun 2016 ASSETS Intangible 6,643 6,806 6,974 Tangible and other 270 257 195 Total non-current assets 6,913 7,063 7,169 Inventories 1,123 870 751 Accounts receivable 1,027 769 558 Other Receivable 430 487 346 Cash and equivalent 1,189 786 770 Total cur

  22. Slide 22: Summary

    Summary Guido Oelkers

  23. Slide 23: Outlook 2017 - revised

    Outlook 20171,2 - revised Revenues Sobi now expects revenues for the full year to be in the range of SEK 6,100 to 6,200 M (5,800 to 6,000) Gross margin Gross margin is now expected to be around 70 per cent (66 to 68) EBITA Sobi now expects EBITA for the full year to be in the range of SEK 1,700 to 1

  24. Slide 24: Two main business areas going forward

    Two main business areas going forward Haemophilia Specialty Care Partner Products Inflammation Metabolism Genetics & 24

  25. Slide 25: Q&A

    Q&A

  26. Slide 26: Pioneer in Rare Diseases

    @sOobl Pioneer in Rare Diseases

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