Slide 1: 2018 First quarter results
2018 First quarter results CONFERENCE CALL – 8 MAY 2018
Slide 2: First quarter 2018 highlights
First quarter 2018 highlights • Revenue € 366.5 million, up 7.2% • EBITDA € 134.4 million or 36.7% of sales, up 14.2% • Operating income (EBIT) € 120.5 million or 32.9% of sales, up 12.4% • Net income € 86.6 million or 23.6% of sales, up 10.3% • Net debt € 484.6 million, an increase of € 102.3 milli
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 68.1% of revenue (million Euro) 1Q 2018 1Q 2017 Change % Zanidip® (lercanidipine) 36.5 36.9 (1.1) Zanipress® (lercanidipine+enalapril) 17.9 19.1 (6.1) Urorec® (silodosin) 26.7 23.8 12.0 Livazo® (pitavastatin) 12.4 9.
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 13.5% Seloken®/Logimax® 6.3% Drugs for rare diseases 15.0% Livazo® 3.4% Urorec® 7.3% Zanipress® 4.9% OTC 16.4% Zanidip® 9.9% Subsidiaries’ local product portfolios 19.9% Pharmaceutical chemicals 2.7% Ortoton® (methocarbamol) ‐ Germany 3% Other
Slide 5: Composition of revenue by geography
Composition of revenue by geography Continued growth (million Euro) 1Q 2018 1Q 2017 Change % Italy 76.4 74.8 2.3 France 34.1 29.9 14.1 Germany 33.4 27.7 20.5 Russia, other CIS countries and Ukraine 32.1 33.7 (4.7) U.S.A. 25.6 28.0 (8.6) Turkey 22.8 22.7 0.4 Spain 21.2 19.8 7.3 Portugal 10.2 10.0 2.5
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 16.8% (sales to licensees, exports, sales in ROW) North Africa 2.9% Italy 21.4% Other W. Europe 3.9% Other CEE 4.6% France 9.6% Portugal 2.9% Spain 5.9% Germany 9.4% Turkey 6.4% Russia, other CIS U.S.A. 7.2% and Ukraine 9.0%
Slide 7: First quarter 2018 results
First quarter 2018 results Further margin growth (million Euro) 1Q 2018 1Q 2017 Change % Revenue 366.5 341.9 7.2 Gross Profit 257.2 236.1 8.9 as % of revenue 70.2 69.1 SG&A Expenses 108.1 105.8 2.2 as % of revenue 29.5 30.9 R&D Expenses 27.7 23.2 19.4 as % of revenue 7.5 6.8 Other Income (Expense),
Slide 8: First quarter 2018 results: Operating segments
First quarter 2018 results Operating segments Revenue EBIT Treatments for rare diseases 15.0% Treatments for rare diseases 21.4% Primary & specialty care Primary & specialty care 85.0% 78.6% EBIT margin on sales: Treatments for rare diseases, 47.0% Primary & Specialty care, 30.4% 8
Slide 9: Net financial position
Net financial position (million Euro) 31 Mar 2018 31 Dec 2017 Change Cash and short‐term financial 198.8 302.1 (103.3) investments Bank overdrafts and short‐term loans (26.6) (16.6) (10.0) Loans – due within one year (50.3) (51.7) 1.4 Loans – due after one year (606.5) (615.6) 9.1 NET FINANCIAL POSI
Slide 10: Financial projections
Financial projections 2018 targets ‐ Margins to continue to improve EBITDA 36%, EBIT 32%, Net income 23% 2017 2018 (million Euro) Actual Targets Revenue 1,288.1 1,350 ‐ 1,370 EBITDA 454.7 490 ‐ 500 Operating income 406.5 430 ‐ 440 (EBIT) Net Income 288.8 310 ‐ 315 No acquisitions included in 2018 ta
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