Navamedic Asa · OSL:NAVA
Navamedic Asa — Q1 2023 Earnings Presentation
27 slides from Navamedic Asa's earnings presentation, May 11, 2023
Slide 1: First quarter 2023 results
Q1 2023 First quarter 2023 results Navamedic ASA 11 May 2023 Kathrine Gamborg Andreassen, CEO Lars Hjarrand, CFO
Slide 2: Significant growth across the business
Q1 2023 results Significant growth across the business Growth across all business areas and core brands Post-period: REVENUE GROSS MARGIN EBITDA Q1 Submitted recommended cash offer to acquire all 121.7 MNOK 41.3% 15.8 MNOK shares in Sensidose AB 2023 Up 93.3% YoY 39.4% in Q1 22 -0.4 MNOK in Q1 22 Ac
Slide 3: On track towards 20% organic Y/Y revenue growth target
On track towards 20% organic Y/Y revenue growth target Consistent positive trend in revenue and EBITDA +64% Strong revenue growth 450 45% driven by successful build- 400 40% up of product categories, 350 35% positive market trends and consumer demand 300 30% Normal fluctuation in NOK million 250 25%
Slide 4: Navamedic in brief
Navamedic in brief Nordic pharma company targeting further growth in Northern Europe A reliable supplier of high- Presence and sales in all Strong local competence Ambitious growth quality pharma products, Nordic countries, Benelux, in regulatory, strategy, high-potential within Prescription drugs,
Slide 5: On track to becoming a NOK 1 billion revenue company
On track to becoming a NOK 1 billion revenue company STRATEGY STRENGTHEN THE CORE 1 Untapping the potential within existing products and territories. Ongoing negotiations for attractive new agreements. SECURE AND INCREASE THE VALUE THROUGH 2 OWNERSHIP Innovative pipeline for in-licensing of new RX o
Slide 6: High-quality portfolio with several hero products
High-quality portfolio with several hero products Prescription Drugs (RX) Consumer Health Hospital Sold through pharmacies Sold through pharmacies Tenders incl. medical nutrition* Q1 23 Q1 23 25,0 revenue in revenue in 153% 14% 68,9 129% MNOK Q1 23 MNOK 27,7 revenue in MNOK YoY growth YoY growth YoY
Slide 7: Prescription Drugs (RX): Strong sales across the RX category
Prescription Drugs (RX) Strong sales across the RX category CONTINUED STRONG • Mysimba® contributed to MYSIMBA WHOLESALE significant growth in the DEVELOPMENT obesity treatment area 63% growth YOY Q1 2023 REVENUE - Reduced revenue due to MNOK temporary supply challenges 68.8 MNOK 160 in Q1 2022 140
Slide 8: Consumer Health: Growth across all core brands
Consumer Health Growth across all core brands • The Modifast product range contributed significantly to the category Q1 2023 REVENUE • Alflorex™ and 27.7 MNOK Gelorevoice ® delivered solid growth in the (Q1 2022: 10.9 MNOK) fourth quarter • Post-period, Navamedic acquired the rights to distribute an
Slide 9: Hospital: Strengthened antibiotics portfolio
Hospital Strengthened antibiotics portfolio Q1 2023 REVENUE • Strong development of the antibiotic portfolio 25.0 MNOK • Stable development in (Q1 2022: 21.9 MNOK) medical nutrition 9
Slide 10: Status acquisition of Sensidose AB
Status acquisition of Sensidose AB
Slide 11: Transaction rationale
Sensidose AB Transaction rationale Why Sensidose AB Sensidose AB • In line with Navamedic’s M&A strategy: Acquiring medical products • A Sweden-based with significant potential for growth in well-established pharmaceutical company Navamedics sales and distribution channels • Targeting patients with
Slide 12: Parkinson's disease – a major public health and socio-economic challenge
Sensidose AB Parkinson’s disease – a major public health and socio-economic challenge • PD affects 1-2 per 1000 of the population at any time and the prevalence increases with age. PD The five stages of Parkinson’s disease affects 1% of the population above 60 years. • Globally, disability and death
Slide 13: Key dates and significant events
Sensidose AB Key dates and significant events Acquires 57.2% of Sensidose’s Navamedic requests Sensidose BoD to shares and amends cash offer to call an extraordinary general meeting SEK 8.00 per share with the objective of electing new members of the board Declaring the offer unconditional and the a
Slide 14: Financials
FINANCIALS @ Navamedic
Slide 15: Key consolidated profit and loss figures
Financials Key consolidated profit and loss figures (in NOK '1000) Q1 2023 Q1 2022 FY 2022 In Q1 2023, revenues grew by 93% Operating revenues 121 787 62 996 382 135 compared to the same quarter last Gross profit 50 318 24 835 163 519 year (organic growth was 70.5%) Gross profit % 41.3 % 39.4 % 42.8
Slide 16: Assets
Financials Assets (in NOK '1000) 31.03.2023 31.03.2022 31.12.2022 Goodwill 107 073 59 280 100 743 The increase in Goodwill is mainly due Deferred tax assets 835 9 168 835 to currency changes Other intangible assets 29 816 26 031 30 537 Inventory is only slightly higher than at Property, plant & equi
Slide 17: Equity and liabilities
Financials Equity and liabilities (in NOK '1000) 31.03.2023 31.03.2022 31.12.2022 Total equity 225 389 151 953 209 720 Non-current license liabilities 3 713 8 017 3 762 Loans and borrowings 36 923 28 182 38 368 Non-current right of use liabilities 4 488 5 418 4 861 Total non-current liabilities 45 1
Slide 18: Cash flow Group – total operations
Financials Cash flow Group – total operations (in NOK '1000) Q1 2023 Q1 2022 Year 2022 The cash flow from Operating Activities Net cash flow from operating activities 3 099 -18 494 17 941 is mainly the result of Net profit Net cash flow from investing activties -88 -93 -25 444 coupled with changes i
Slide 19: Summary & Outlook
SUMMARY & OUTLOOK @ Navamedic
Slide 20: Continued strong growth supported by a scalable platform
Navamedic ASA summary and outlook Continued strong growth supported by a TARGETS AND AMBITIONS scalable platform On track to reach growth target 20% annual organic growth • Record high NOK 121.7 million revenue in the quarter, an increase of 93.3% Y-o-Y (Q1), underpinned by M&A and continued sales g
Slide 21: Q&A
Q&A 21 @ Navamedic
Slide 22: Thank you for your attention!
Thank you for your attention! Navamedic’s Q2 2023 presentation will be held on August 11th, 2023 22
Slide 23: Appendix
APPENDIX @ Navamedic
Slide 24: Condensed consolidated statement of comprehensive income
Navamedic ASA Condensed consolidated statement of comprehensive income (in NOK '1000) Q1 2023 Q1 2022 FY 2022 Operating revenues 121 787 62 996 382 135 Total revenue 121 787 62 996 382 135 Cost of materials -71,468 -38 161 -218 615 Gross profit 50 318 24 835 163 519 Gross profit % 41.3 % 39.4 % 42.8
Slide 25: Condensed consolidated statement of cash flows
Navamedic ASA Condensed consolidated statement of cash flows (in NOK '1000) Q1 2023 Q1 2022 Year 2022 Cash flow from operating activities Profit before tax 17 604 521 42 506 Adjusted for: Depreciation, amortization and impairment 1 833 1 830 7 242 Financial income / expenses without cash effect -415
Slide 26: Basis for preparation and Definitions of Alternative Performance Measures
Appendix Basis for preparation This presentation provides financial highlights for the quarter for Navamedic Group. The financial information is not reported according to the requirements in IAS 34 (Interim Financial Reporting) and the figures are not audited. The same measurement principles as pres
Slide 27: Copyright and disclaimer
Appendix Copyright and disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Navamedic and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any