Slide 1: 2016 First quarter results
2016 First quarter results CONFERENCE CALL – 5 MAY 2016
Slide 2: First quarter 2016 highlights
First quarter 2016 highlights • Revenue € 302.2 million, up 9.6% • EBITDA € 99.0 million or 32.7% of sales, up 19.6% • Operating income (EBIT) € 90.2 million or 29.8% of sales, up 22.7% • Net income € 65.5 million or 21.7% of sales, up 26.0% • Net debt € 42.1 million, a reduction of € 46.6 million a
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 62% of revenue (million Euro) 1Q 2016 1Q 2015 Change % Zanidip® (lercanidipine) 35.0 33.8 3.5 Zanipress® (lercanidipine+enalapril) 17.8 16.9 5.8 Urorec® (silodosin) 22.1 16.0 37.7 Livazo® (pitavastatin) 8.9 5.9 51.7
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 13.4% Drugs for rare diseases 15.2% Livazo® 3.0% Urorec® 7.3% Zanipress® 5.9% OTC 17.7% Zanidip® 11.6% Subsidiaries’ local product portfolios 21.1% Pharmaceutical chemicals 3.5% Ortoton® (methocarbamol) - Germany 3% Other revenue 1.3% Methadon
Slide 5: Composition of revenue by geography
Composition of revenue by geography Solid volume growth (million Euro) 1Q 2016 1Q 2015 Change % Italy 61,5 60.3 2.1 France 28,5 28.7 (0.7) U.S.A. 25.8 20.7 24.7 Germany 24.2 22.2 9.1 Turkey 22.5 21.1 6.4 Russia, other CIS countries and Ukraine 19.2 18.0 6.7 Spain 18.4 16.9 8.7 North Africa 15.8 10.8
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 17.1% (sales to licensees and exports) Italy 21.1% Other CEE 2.7% Other W. Europe 2.8% Portugal 3.4% France 9.8% North Africa 5.4% Spain 6.3% U.S.A. 8.8% Russia, other CIS and Ukraine 6.6% Turkey 7.7% Germany 8.3% Data: First
Slide 7: First quarter 2016 results
First quarter 2016 results Further margin growth (million Euro) 1Q 2016 1Q 2015 Change % Revenue 302.2 275.7 9.6 Gross Profit 208.5 187.5 11.3 as % of revenue 69.0 68.0 SG&A Expenses 95.6 93.3 2.4 as % of revenue 31.6 33.8 R&D Expenses 22.3 19.9 12.0 as % of revenue 7.4 7.2 Other Income (Expense), n
Slide 8: First quarter 2016 results: Operating segments
First quarter 2016 results Operating segments Revenue EBIT Treatments for rare diseases 15.2% Treatments for rare diseases 22.9% Primary & specialty care Primary & specialty care 84,8% 77.1% EBIT margin on sales: Treatments for rare diseases, 44.8% Primary & Specialty care, 27.1% 8
Slide 9: Financial position and Shareholders' equity
Financial position and Shareholders’ equity (million Euro) 31 Mar 2016 31 Dec 2015 Change Cash and short-term financial 270.5 225.5 45.0 investments Bank overdrafts and short-term loans (16.7) (9.8) (6.9) Loans – due within one year (39.1) (34.5) (4.6) Loans – due after one year (256.8) (269.9) 13.1
Slide 10: Financial projections: 2016 targets
Financial projections 2016 targets 2015 2016 (million Euro) Actual Targets Revenue 1,047.7 > 1,100 Operating income 278.5 > 310 (EBIT) Net Income 198.8 > 220 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