23 slides from Wuxi Apptec Co., Ltd. Class A's earnings presentation, Mar 18, 2025
Slide 1: WuXi AppTec 2024 Annual Results
WuXi AppTec 2024 Annual Results March 18, 2025 1 603259.SH / 2359.HK
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain certain statements that are or may be forward looking, which can be recognized by the use of words such as “expects”, “plans”, “will”, “estimates”, “projects”, “intends”, or words of similar meaning. Such forward-looking statements are not his
Slide 3: Agenda
01 Results Overview 02 Segment Performance 03 Financial Performance 04 Company Outlook 3 Note: Unless otherwise stated, all financials disclosed in this presentation are prepared based on International Financial Reporting Standards (or “IFRSs”). The currency is RMB. All net profit disclosed in this
Slide 4: 1. Results Overview
1. Results Overview 4
Slide 5: 2024 Revenue & Profit Achieved Steady QoQ Growth; Q4 Record Highs
2024 Revenue & Profit Achieved Steady QoQ Growth, Meeting Full-year Guidance; Q4 Revenue & Profit Both Reached Record Highs Revenue Adjusted Non-IFRS Net Profit RMB billion RMB billion 11.54 10.46 9.26 3.24 7.98 2.97 2.46 1.91 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 5
Slide 6: Q4 Revenue Up 6.9% YoY, Q4 Adjusted Non-IFRS Net Profit Up 20.4% YoY
Q4 Revenue Up 6.9% YoY, and Q4 Adjusted Non-IFRS Net Profit Up 20.4% YoY Revenue Adjusted Non-IFRS Net Profit RMB billion RMB billion Adjusted Non-IFRS NPM +6.9% +20.4% 10.80 11.54 24.9% 28.1% +3.2pt 3.24 2.69 Q4 2023 Q4 2024 Q4 2023 Q4 2024 6
Slide 7: 2024 Revenue Up 5.2% YoY Excluding COVID-19 Commercial Project; NPM Record 27.0%
2024 Revenue Up 5.2% YoY (Excluding COVID-19 Commercial Project of 2023), and 2024 NPM Reached Record High of 27.0% Revenue Adjusted Non-IFRS Net Profit RMB billion RMB billion Adjusted Non-IFRS NPM COVID-19 Commercial Project non COVID-19 Commercial Project -2.7% +5.2%1 -2.5% excluding COVID-19 Com
Slide 8: Highly-Efficient Enabler to the Industry, Creating Value for Global Customers
Continue to Serve as a Highly-Efficient Enabler to the Industry, Create Value for Global Customers and Bring Groundbreaking Therapies to Patients As global demand for life saving and innovative drugs continues to grow, customer demand for our integrated services continues to grow ⚫ ~6,000 active cus
Slide 9: Diversified Revenue Streams Across Regions Ensure Stability and Resilience
Diversified Revenue Streams1 from Customers Across Regions Ensure the Stability and Resilience of the Company’s Financial Performance RMB billion China Europe 7.07Bn，-3.5% 5.23Bn，+14.4% Revenue contribution: 18% US Revenue contribution: 13% 25.02Bn， excluding COVID-19 commercial project + 7.7% Reven
Slide 10: Advancing Sustainability, Consistently Recognized by Global Rating Agencies
Advancing Sustainability, Consistently Recognized by Global Rating Agencies Consecutive Four Years’ MSCI “AA” Rating and S&P Global DJSI Member; Improved to EcoVadis “Gold” Rating and CDP Water Security “A” Rating in 2024 Named to S&P Global Improved to “A” rating Consecutive “AA” ratings in Improve
Slide 11: Unwavering Commitment to Guarding Customers’ IP and Highest Quality & Compliance Standards
Unwavering Commitment to Guarding Customers’ IP and Adhering to the Highest Standards of Quality & Compliance 802 1 58 Quality Audits & Inspections by Information Security Global Customers, Regulatory Audits by Global Authorities and Independent Third Customers in 2024, with Parties in 2024 0 Critic
Slide 12: 2. Segment Performance
2. Segment Performance 12
Slide 13: WuXi Chemistry: CRDMO Business Model Drives Continuous Growth
WuXi Chemistry: CRDMO Business Model Drives Continuous Growth, 2024 Revenue Up 11.2% YoY (Excluding COVID-19 Commercial Project of 2023), with TIDES Revenue Up 70.1% YoY CRDMO Business Model Drives Continuous Growth Revenue & Gross Profit Margin ⚫ WuXi Chemistry Q4 revenue up 13.0% YoY; 2024 revenue
Slide 14: WuXi Chemistry: Growing Small Molecule CRDMO Pipeline
WuXi Chemistry: Growing Small Molecule CRDMO Pipeline Driven by “Follow the Molecule + Win the Molecule” Strategies “R” 10%↑ 460,000+ 14,751 compounds Compounds 2024 Newly Added Molecules to D&M Pipeline 2,865 Preclinical & Phase I in Total 1,187 Including 366 Molecules Converted from R to D 360 Pha
Slide 15: TIDES: Continued Rapid Business Growth Driven by Enhanced Capabilities
TIDES: Continued Rapid Business Growth Driven by Enhanced Capabilities and Fast Growing Capacity TIDES Revenue Solid Phase Peptide Synthesizer Total Reactor Volume RMB billion Liter >100,000 +70.1% 5.80 41,000 3.41 32,000 2.04 0.79 6,000 0.30 500 2,000 4,000 2020 2021 2022 2023 2024 2019 2020 2021 2
Slide 16: WuXi Testing: Drug Safety Evaluation Service & SMO Maintain Leading Positions
WuXi Testing1: Drug Safety Evaluation Service & SMO Maintain Leading Positions Revenue & Gross Profit Margin1 Lab Testing Services1 RMB billion ⚫ 2024 revenue of lab testing services reached 3.86bn, down 8.0% YoY due to market impact as pricing gradually reflected in revenue along with backlog conve
Slide 17: WuXi Biology: Early Screening & In Vivo Pharmacology Drives Growth
WuXi Biology: Early Screening & In Vivo Pharmacology-Related Business Drives Growth; WuXi Biology Platform Continues to Generate Downstream Opportunities Revenue & Gross Profit Margin RMB billion ⚫ With platform resources further integrated, WuXi Biology achieved Adjusted Non- steady QoQ growth in 2
Slide 18: 3. Financial Performance
3. Financial Performance 18
Slide 19: Continuously Improve Operating Efficiency and Maintain Resilient Profit Margin
Continuously Improve Operating Efficiency and Maintain Resilient Profit Margin Adjusted Non-IFRS Net Profit Attributable to Adjusted Non-IFRS Gross Profit Adjusted Non-IFRS GPM* the Owners of the Company Adjusted Non-IFRS NPM RMB MM RMB MM 40.0% 40.3% 38.0% 38.7% 42.0% 41.6% 18.0% 22.0% 22.4% 23.9%
Slide 20: 2024 Free Cash Flow Reached Record High of 7.98 Billion
With Continued Business Growth, Efficient Operations and Constant Improvement of Financial Management Capabilities, 2024 Free Cash Flow Reached Record High of 7.98 Billion RMB MM Capex1 12,641 Operating Cash Flow 11,987 9,966 10,230 6,936 5,517 4,379 3,828 4,003 3,031 2,532 2,529 2019 2020 2021 2022
Slide 21: 4. Company Outlook
4. Company Outlook i ls Be 3)
Slide 22: Remain Steadfast in Core Values, Continue to Focus on CRDMO Business Model
Remain Steadfast in the Company’s Core Values, and Continue to Focus on CRDMO Business Model To ensure that clients and patients with a pressing need for the WuXi ATU cell therapy services can continue to receive time-critical and life-saving treatments without interruption, while valued scientist
Slide 23: Company Outlook
Company Outlook Our unique integrated CRDMO business model provides efficient and exceptional services to global customers and benefits patients worldwide. It enables to Company to closely follow scientific innovations, develop distinct industry insights, instantly seize 1 new molecule opportunities