Swedish Orphan Biovitrum AB · OMXSTO:SOBI

Swedish Orphan Biovitrum AB — Q2 2014 Earnings Presentation

19 slides from Swedish Orphan Biovitrum AB's earnings presentation, Jul 18, 2014

  1. Slide 1: Q2 Results 2014

    Q2 Results 2014 Geoffrey McDonough │ CEO Alan Raffensperger │ COO Mats-Olof Wallin │ CFO Stockholm | 18 July 2014

  2. Slide 2: Highlights Q2 2014

    Highlights Q2 2014 Business Other • Initiated direct sales of Orfadin® in NA • Biogen Idec and Sobi to donate 1 billion international units of clotting factor to • Filed for EU approval of Xiapex® for support treatment of haemophilia in Peyronie’s Disease developing world • Entered partnership with

  3. Slide 3: Highlights Q2 2014 – Financial

    Highlights Q2 2014 800 Financial Q2 2014 (Q2 2013) 700 • Total revenues: SEK 663 M (520) 663 • An increase of 27% 600 520 • Product revenues: SEK 476 M (372) 500 • An increase of 28% 406 400 • Gross Margin: 61% (61) SEK M 317 • EBITA: SEK 86 M (38) 300 • Cash flow from operating activities: 200 SEK

  4. Slide 4: Highlights H1 2014

    Highlights H1 2014 1,400 Financial H1 2014 (H1 2013) 1236 1,200 • Total revenues: SEK 1,236 M (1,049) 1049 1,000 • An increase of 18% 800 726 • Product revenues: SEK 881 M (716) 620 600 • An increase of 23% SEK M 400 • Gross Margin: 59% (59) 200 156 123 99 99 • EBITA: SEK -202 M (99) 57 0 • EBITA ex

  5. Slide 5: YTD Revenue by Business Line

    YTD Revenue by Business Line Early Stage Development Programmes Haemophilia SEK 11 M USD 2 M Genetics & Inflammation +6% SEK 272 M Metabolism +18% SEK 275 M USD 42 M USD 42 M Partner Products SEK 324 M +43% USD 50 M ReFacto AF® SEK 354 M USD 54 M +7% USD 1 = SEK 6.529 5

  6. Slide 6: ReFacto AF

    ReFacto AF Sales (SEK M): ReFacto • Q2 revenue for manufacturing and 250 600 royalty SEK 187 M (149) • Increase of 26% 200 500 • H1 was SEK 355 M (333) • Strong 1H 2014 revenues reflect phasing of 400 deliveries to Pfizer 150 • Sobi expects deliveries to be lower in the 300 second half of 2014 100 2

  7. Slide 7: Results Q2 2014

    Results Q2 2014 Alan Raffensperger │ COO Stockholm | 18 July 2014

  8. Slide 8: Kineret

    Kineret® Sales (SEK M): Kineret • Q2 revenue SEK 148 M (140) 180 700 • increase of 6% 160 • H1 was SEK 272 M (257) 600 140 500 120 • US volumes have returned to baseline 100 400 order pattern after low levels in 80 300 Q1 2014 60 200 40 100 20 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2012 2013 2014 Quarter

  9. Slide 9: Orfadin

    Orfadin Sales (SEK M): Orfadin • Q2 revenue SEK 140 M (83) 160 450 • increase of 68% • H1 was SEK 216 M (193) 140 400 350 120 • The step-up is mainly related to Sobi 300 100 initiating direct sales in North 80 250 America 200 60 150 40 100 20 50 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2012 2013 2014 Quart

  10. Slide 10: Partner Products

    Partner Products Sales (SEK M): Partner Products • Q2 revenue SEK 159 M (129) 200 Sales (MSEK): Partner Products 700 • increase of 24% 180 • H1 was SEK 324 M (226) 600 160 140 500 120 • Growth driven by new partnerships 400 100 signed in 2013 and by growth of the 80 300 base portfolio 60 200 40 100

  11. Slide 11: Financials Q2 2014

    Financials Q2 2014 Mats-Olof Wallin │ CFO Stockholm | 18 July 2014

  12. Slide 12: Profit and Loss Statement

    Profit and Loss Statement Amounts in SEK M Q2-14 Q2-13 H1-2014 H1-2013 Total revenues 663 520 1 236 1 049 Gross profit 406 317 726 620 Gross Margin 61% 61% 59% 59% Sales and Administration -193 -155 -349 -279 Research and development -133 -121 -260 -240 Other operating 7 -3 -318 -2 revenues/expenses

  13. Slide 13: Balance Sheet

    Balance Sheet Amounts in SEK M June 2014 June 2013 Dec 2013 ASSETS Intangible 4 241 4 767 4 637 Tangible and financial 161 154 152 Total non-current assets 4 402 4 920 4 789 Inventories 729 703 726 Accounts receivable 448 383 415 Other receivable 164 133 145 Cash and equivalent 503 438 445 Total cur

  14. Slide 14: Net Debt

    Net Debt 500 50% • End of quarter cash position: SEK 503 M 400 40% • Net debt SEK 314 M 300 30% SEK M 200 20% 100 10% 0 0% Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Net debt Net debt / Equity 14

  15. Slide 15: Summary and Outlook

    Summary and Outlook Geoffrey McDonough │ CEO Stockholm | 18 July 2014

  16. Slide 16: Outlook 2014 (Unchanged)

    Outlook 2014 (Unchanged) Revenues MSEK 2,300 to 2,500 Gross Margin 58-60% Operating costs Operating costs are expected to increase as the company continues to prepare for the planned launch of the Haemophilia programmes The outlook was first published in the 2013 Q4 report on 20 February 2014. 16

  17. Slide 17: Building Our Future

    Building Our Future 1. Diverse, growing, and profitable base business focused on rare diseases 2. Near-term first-to-market long- acting haemophilia factors with exclusive USD 3.7B territory in Europe, Russia, and Middle East 3. Pipeline of early stage rare disease biologics 17

  18. Slide 18: Building a Leading Rare Disease Company

    Building a Leading Rare Disease Company EBITA Short-term Medium-ter Long-term m Early Programmes Haemophilia Haemophilia royalties Genetics & Metabolism Inflammation Partner Products ReFacto 2012 - 2013 2014 - 2015 2016 + TIME 18

  19. Slide 19: Strategic Priorities

    Strategic Priorities 1. Near-term focus on growth in our base business, with sustainable positive cash flow from operations. 2. Medium-term investments to ensure successful commercialisation of our haemophilia programmes. 3. Long-term growth will come organically and through acquisitions. 19

Swedish Orphan Biovitrum (Sobi) — Q2 2014 Earnings Presentation on 6ix