Slide 1: 2017 First nine months results
2017 First nine months results CONFERENCE CALL – 26 OCTOBER 2017
Slide 2: First nine months 2017 highlights
First nine months 2017 highlights • Revenue € 963.8 million, up 11.8% • EBITDA € 342.0 million or 35.5% of sales, up 22.1% • Operating income (EBIT) € 307.5 million or 31.9% of sales, up 21.8% • Net income € 219.8 million or 22.8% of sales, up 20.6% • Net debt € 321.7 million, an increase of € 123.0
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 65.9% of revenue (million Euro) Jan-Sept 2017 Jan-Sept 2016 Change % Zanidip® (lercanidipine) 96.1 90.0 6.8 Zanipress® (lercanidipine+enalapril) 53.7 50.8 5.8 Urorec® (silodosin) 69.5 63.3 9.9 Livazo® (pitavastatin)
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 13.1% Drugs for rare diseases 16.7% Seloken®/Logimax® 2.4% Livazo® 3.0% Urorec® 7.2% Zanipress® 5.6% OTC 16.2% Zanidip® 10.0% Subsidiaries’ local product portfolios 21.9% Pharmaceutical chemicals 3.2% Ortoton® (methocarbamol) - Germany 3% Othe
Slide 5: Composition of revenue by geography
Composition of revenue by geography Continued growth (million Euro) Jan-Sep 2017 Jan-Sep 2016 Change % Italy 192.7 171.2 12.6 France 91.7 84.7 8.2 Germany 87.1 72.7 19.7 U.S.A. 83.4 77.4 7.7 Russia, other CIS countries and Ukraine 79.3 56.1 41.3 Turkey 65.4 65.8 (0.6) Spain 59.6 55.8 6.7 North Afric
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 15.2% (sales to licensees and exports) Other CEE 3.4% Italy 20.7% Other W. Europe 4.1% Portugal 3.2% France 9.8% North Africa 3.3% Spain 6.4% Germany 9.4% Turkey 7.0% Russia, other CIS U.S.A. 9.0% and Ukraine 8.5% Data: First
Slide 7: First nine months 2017 results
First nine months 2017 results Further margin growth (million Euro) Jan-Sep 2017 Jan-Sep 2016 Change % Revenue 963.8 862.4 11.8 Gross Profit 676.2 595.1 13.6 as % of revenue 70.2 69.0 SG&A Expenses 295.2 273.5 7.9 as % of revenue 30.6 31.8 R&D Expenses 72.1 60.2 19.8 as % of revenue 7.5 7.0 Other In
Slide 8: First nine months 2017 results: Operating segments
First nine months 2017 results Operating segments Revenue EBIT Treatments for rare diseases 16.7% Treatments for rare diseases 24.0% Primary & specialty care Primary & specialty care 83.3% 76.0% EBIT margin on sales: Treatments for rare diseases, 45.8% Primary & Specialty care, 29.1% 8
Slide 9: Net financial position
Net financial position (million Euro) 30 Sep 2017 31 Dec 2016 Change Cash and short-term financial 297.9 138.5 159.4 investments Bank overdrafts and short-term loans (33.0) (15.7) (17.3) Loans – due within one year (51.7) (40.4) (11.3) Loans – due after one year (534.9) (281.1) (253.8) NET FINANCIAL
Slide 10: Financial projections
Financial projections 2017 targets 2016 2017 (million Euro) Actual Targets Revenue 1,154 1,290 - 1,300 EBITDA 371 450 - 460 Operating income 327 400 - 410 (EBIT) Net Income 237 290 - 295 10
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