Dermapharm Holding Se · XETR:DMP
Dermapharm — Q3 2018 Earnings Presentation
23 slides from Dermapharm's earnings presentation, Nov 20, 2018
Slide 1: Investor and Analyst Conference Call Q3 2018
Investor and Analyst Conference Call Q3 2018 Grünwald, November 20, 2018
Slide 2: Disclaimer
Disclaimer This publication includes statements, estimates, opinions and projections with respect to the anticipated future performance of Dermapharm Holding SE (together with its consolidated subsidiaries, “Dermapharm”) and such statements, estimates, opinions and projections (“Forward-Looking Stat
Slide 3: Today’s agenda
Today’s agenda 1. Overview 2. Financial figures 9M 2018 3. Outlook FY 2018 3
Slide 4: Overview
Overview Section 1
Slide 5: Dermapharm – Pharmaceutical excellence “Made in Germany”
Dermapharm – Pharmaceutical excellence “Made in Germany” A leading German pharmaceutical company… …based on an integrated business model… ▪ Dermapharm is a leader in branded pharmaceuticals in selected markets in Germany and has an increasing international footprint ▪ Flexible pharmaceutical manufac
Slide 6: Dermapharm – The Management Team
Dermapharm – The Management Team Dr. Hans Feldmeier Karin Samusch Stefan Grieving Stefan Hümer Chief Executive Chief Business Chief Marketing Chief Financial Officer Development Officer Officer Officer 15 years company affiliation 27 years company affiliation 8 years company affiliation 12 years com
Slide 7: Highlights Q3 2018 – Success story with profitable growth continued
Highlights Q3 2018 – Success story with profitable growth continued Significant revenue growth continues Revenues increased by 22.7% to € 429.0 million 1 Disproportionate EBITDA(1) growth 2 Adjusted EBITDA(1) increased by 28.3% to € 106.4 million; adjusted EBITDA margin up to 24.8% Significant growt
Slide 8: Financial figures 9M 2018
Financial figures 9M 2018 Section 2
Slide 9: Dermapharm Group Revenue – Driven by significant growth in Branded Pharmaceuticals
Dermapharm Group Revenue – Driven by significant growth in Branded Pharmaceuticals segment Dermapharm’s revenue development Dermapharm Group 9M 2017 vs 9M 2018 €m, YoY growth (%) ▪ Strong revenue growth of 22.7% to € 429.0 million ▪ Main growth drivers: ▪ Successful company acquisitions and integrat
Slide 10: Dermapharm Group EBITDA – Disproportional EBITDA growth
Dermapharm Group EBITDA – Disproportional EBITDA growth Dermapharm’s EBITDA development Dermapharm Group 9M 2017 vs 9M 2018 €m, YoY growth (%) ▪ EBITDA growth driven by Branded Pharmaceuticals 10 EBITDA margin ▪ One-time costs of € 1.4 million for IPO preparations excl. axicorp 47.5% 39.4% ▪ One-tim
Slide 11: Earnings before tax (EBT) – Reflecting company’s high profitability
Earnings before tax (EBT) – Reflecting company’s high profitability Dermapharm’s EBT development Comments 9M 2017 vs 9M 2018 €m, YoY growth (%) ▪ EBT (adjusted) increased by 24.7% to € 83.8 million resulting in a margin of 19.5% ▪ Depreciations and amortization at € 19.2 million Group EBT and € 8.0
Slide 12: Strong Cash flows and cash conversion
Strong Cash flows and cash conversion – Reflecting strong dedication to future growth Strong cash flow and cash conversion(1) Comments in €m / in % of group EBITDA ▪ CF from operating activities up due to positive business development ▪ CF from investing activities mainly reflecting M&A Cash ▪ Strat
Slide 13: Balance sheet of Dermapharm Group
Balance sheet of Dermapharm Group Balance Sheet as of 30 September 2018 Comments in €m ▪ Total assets increased to € 691.4 million ▪ Non-current assets increased mainly due to the increase 691 691 in intangible assets, Goodwill and Property, plant and equipment 244 Equity Non- ▪ Current assets incre
Slide 14: Outlook FY 2018
Outlook FY 2018 Section 3
Slide 15: Dermapharm follows a consequent portfolio strategy
Dermapharm follows a consequent portfolio strategy Revenue by market access excl. axicorp(1) Comments ▪ Acquisitions of Trommsdorff, Strathmann, and the hyperthermic devices further strengthen portfolio shift in 6M 2018 9% 36% ▪ Portfolio shift overall leads to 6M 2018 35% 26% ▪ an increasing share
Slide 16: Growth strategy – Update on in-house development
Growth strategy – Update on in-house development Q3 2018 2018 Achievements Plans ▪ All ongoing development projects on track ▪ More than 40 ongoing development projects with new products ▪ Several new products launched in different countries for all product areas ▪ Germany: Myopridin®, Summavit® mat
Slide 17: Growth strategy – Update on internationalization
Growth strategy – Update on internationalization Q3 2018 2018 Achievements Plans ▪ Subsidiaries established in the UK and Italy (Feb 2018) ▪ Launch of first products in UK and Italy ▪ Sales managers hired in the UK and Italy ▪ Entering Spain ▪ Marketing authorizations obtained in EU for several of ▪
Slide 18: Growth strategy – Update on M&A activities
Growth strategy – Update on M&A activities Q3 2018 2018 Achievements Plans ▪ Integration and consolidation of Strathmann, Trommsdorff, ▪ Integration of Bio-Diät-Berlin, Strathmann and Trommsdorff Bio Diät and Hyperthermic-Medical-Devices further on track: strengthen overall strategy with product por
Slide 19: Growth strategy – Expansion of production and logistics capacities
Growth strategy – Expansion of production and logistics capacities Q3 2018 2018/19 Achievements Plans mibe GmbH in Brehna - Construction of a new Central Logistics building ▪ Start of the construction project realized in ▪ Completion of the project until September 2019 September 2018 ▪ Following Int
Slide 20: Business update on axicorp Group
Business update on axicorp Group Q3 2018 2018 Achievements Plans ▪ Reduction of purchase prices ▪ Finalization of the falsification guideline project ▪ Further broadening of sourcing ▪ Ongoing portfolio optimization ▪ Further leverage of the call center ▪ Launch of additional Dermapharm-OTC products
Slide 21: Growth strategy on track and confirming guidance 2018
Growth strategy on track and confirming guidance 2018 Revenues 2018 +20% to +25% ▪ over the previous year (2017: € 467 million) EBITDA 2018 +22% to +27% ▪ over the previous year (2017: € 113 million (adjusted)) (adjusted) “Growth rates based on organic growth and the four acquisitions 2017/18, which
Slide 22: Investor contact
Investor contact cometis AG Claudius Krause E-Mail: ir@dermapharm.de Phone: +49 (0) 611 20 58 55 28
Slide 23: Becoming the leading European pharmaceuticals manufacturer in selected markets
Becoming the leading European pharmaceuticals manufacturer in selected markets