Cencora, Inc. · NYSE:COR
Cencora — AmerisourceBergen — J.P. Morgan Healthcare Conference 2015
21 slides from Cencora's conference presentation, Jan 13, 2015
Slide 1: J.P. Morgan Healthcare Conference
J.P. Morgan Healthcare Conference January 13, 2015 Steve Collis President & Chief Executive Officer
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Certain of the statements contained in this presentation are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as "expect," "likely," "ou
Slide 3: Improving US Pharmaceutical Market
Delivering Growth Improving US Pharmaceutical Market-- Human Pharmaceutical Sales $ millions Trends in 2015 $480 15.0% and Beyond $460 13.0% $440 + demographics 11.0% + expansion of coverage $420 9.0% + new brand drug launches $400 7.0% + better generic launches $380 5.0% + strong pricing environmen
Slide 4: Even Greater Opportunities Globally
Delivering Growth Even Greater Opportunities Globally Global Spending Global Spending on Medicines on Specialty 2017 2017 $1.2 Trillion $235 Billion +24% +38% 2012 2012 $965 Billion $171 Billion 4
Slide 5: Strategic Relationship with Walgreens Boots Alliance
Strategic Relationship with Walgreens Boots Alliance Best Partners and Greatest Reach > 10 Year Distribution Contract With Walgreens > Global Sourcing Contribution > Platform Leverage, Domestic & International > Interests Aligned Through Equity Position STRENGTHENS NEARLY EVERY ASPECT OF OUR BUSINES
Slide 6: Acquisition of MWI Veterinary Supply: Why Enter Animal Health Market?
Acquisition of MWI Veterinary Supply Why Enter Animal Health Market? > $23 Billion Global Market Growing 6% Annually > Cash Market for Services, No Reimbursement Risk > Wholesalers Provide Substantial Value to Manufacturers and Veterinary Practices ANIMAL HEALTH DISTRIBUTON IS A LOGICAL EXTENSION OF
Slide 7: Acquisition of MWI Veterinary Supply: Why Choose MWI?
Acquisition of MWI Veterinary Supply Why Choose MWI? > Premier Service Provider > Excellent Supplier Relationships > Diverse Customer Base > Impressive Management Team STELLAR REPUTATION WITH CUSTOMERS, STRONG TRACK RECORD OF FINANCIAL PERFORMANCE, SUPERIOR PLATFORM FOR FUTURE GROWTH 7
Slide 8: Well Positioned to Seize Opportunities
Delivering Growth Well Positioned to Seize Opportunities Global Sourcing and Distribution Services Pharmacy Provider Manufacturer Solutions Solutions Solutions > Drive greater > Drive physician and > Maximize product operational efficiency, veterinary practice success at every cost control, growth e
Slide 9: How Will We Continue to Drive Performance?
Delivering Growth How Will We Continue to Drive Performance? Knowledge, Reach and Partnership > Unsurpassed expertise in pharmaceutical distribution, commercialization, and consulting > Global reach in sourcing, distribution, and manufacturer services > Innovative collaboration with manufacturers an
Slide 10: Financial Review
Financial Review Tim Guttman Executive Vice President and Chief Financial Officer 10
Slide 11: Revenues
Delivering Growth Revenues $119.6 $88.0 Billions $76.5 $78.7 $78.1 $70.5 2009 2010 2011 2012 2013 2014 11
Slide 12: Adjusted EBIT
Delivering Growth Adjusted EBIT $1,557 $1,352 $1,290 $1,256 $1,102 Millions $906 2009 2010 2011 2012 2013 2014 12
Slide 13: Adjusted Diluted EPS
Delivering Growth Adjusted Diluted EPS $3.97 $3.08 $3.21 $2.67 $2.21 $1.74 2009 2010 2011 2012 2013 2014 13
Slide 14: Cash Generation
Delivering Growth Cash Generation $1.4 $1.2 $1.2 $1.2 $1.0 $1.0 $0.9 $0.9 $0.8 $0.8 $0.7 $0.8 Billions $0.6 $0.6 $0.6 $0.6 $0.5 $0.4 $0.2 $0.0 2009 2010 2011 2012 2013 2014 Adjusted Income from Continuing Operations Free Cash Flow 14
Slide 15: Acquisition of MWI Veterinary Supply: Financial Highlights
Acquisition of MWI Veterinary Supply FINANCIAL HIGHLIGHTS > $3 Billion in Annual Revenue > 8 Cents of EPS Accretion in FY2015* > $50 Million in Synergies by FY2018 ENHANCES OUR MARGINS, STRENGTHENS OUR ABILITY TO GROW ADJUSTED EPS IN MID-TEENS OVER THE LONG-TERM *Adjusted EPS. Assumes transaction cl
Slide 16: Looking Ahead
Delivering Growth Looking Ahead > Better organic growth > Improving generic opportunities > Increasing operational efficiency > Significant EBIT expansion > Disciplined capital deployment 16
Slide 17: AmerisourceBergen
__AmerisourceBergen. Where knowledge, reach and partnership shape healthcare delivery. AmerisourceBergen’ ip shape healthcare delivery.
Slide 18: Adjusted Operating Income
Adjusted Operating Income Fiscal Years Ended September 30, 2009 through September 30, 2014 ($ millions) FY 2014 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 GAAP Operating Income $ 779 $ 898 $ 1,304 $ 1,190 $ 1,087 $ 876 Anti-Trust Litigation (24) (23) (15) (2) (21) - Warrants 423 90 - - - - Deal Amortiz
Slide 19: Adjusted Diluted EPS from Continuing Operations
Adjusted Diluted EPS from Continuing Operations Fiscal Years Ended September 30, 2009 through September 30, 2014 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 EPS from Continuing Operations $ 1.21 $ 2.10 $ 2.96 $ 2.51 $ 2.18 $ 1.68 Anti-Trust Litigation (0.06) (0.06) (0.04) - (0.04) - Warrants (1)
Slide 20: Adjusted Income from Continuing Operations
Adjusted Income from Continuing Operations Fiscal Years Ended September 30, 2009 through September 30, 2014 ($ millions) FY 2014 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 GAAP Income from Continuing Operations $ 284 $ 493 $ 761 $ 697 $ 627 $ 509 Anti-Trust Litigation (15) (14) (9) (1) (13) - Warrants
Slide 21: Additional Information
Additional Information The tender offer for the outstanding common stock of MWI has not yet commenced. This material is for informational purposes only and it is neither an offer to purchase nor a solicitation of an offer to sell shares of MWI common stock. At the time the tender offer is commenced,
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