Laboratorios Farmaceuticos Rovi, S.a. · BME:ROVI

Laboratorios Farmaceuticos Rovi — H1 2011 Earnings Presentation

16 slides from Laboratorios Farmaceuticos Rovi's earnings presentation, 2011

  1. Slide 1: First Half 2011 Results

    Rovi First Half 2011 Results Ce ee

  2. Slide 2: Disclaimer

    Disclaimer This document has been prepared by Laboratorios Farmacéuticos Rovi, S.A. (“ROVI” or the “Company”), solely for its use during the attached presentation. The information and each of the opinions and statements contained in this document have not been verified by independent experts and, th

  3. Slide 3: Growth driven by recent launches and toll manufacturing business strength

    Growth driven by recent launches and toll manufacturing business strength Total operating revenues (€m) Operating revenues growth by category (€m) 110 100 100 95,9 +32% 0,3 90 80 72,7 21,8 80 0,1 +84% 70 60 11,9 60 95,9 50 40 72,7 40 +21% 73,7 30 60,8 20 20 10 0 0 H1 2010 H1 2011 H1 2010 H1 2011 Spe

  4. Slide 4: Bemiparin, leading the growth

    Bemiparin, leading the growth Prescription-based pharma products sales (€m) Bemiparin sales (€m) 60 50 +26% 30 +21% 27,3 25 22,5 40 8,8 20 7,0 30 52,3 15 20 41,6 10 18,4 15,5 10 5 0 0 H1 2010 H1 2011 H1 2010 H1 2011 Spain International  Sales of prescription-based pharmaceutical products increased

  5. Slide 5: Recent launches sales

    Recent launches sales Thymanax sales (€m) Absorcol and Vytorin sales (€m) 4 3 3 2 2 3,8 1 2,1 1 0,0 0,0 0 0 H1 2010 H1 2011 H1 2010 H1 2011  Sales of Thymanax, an innovative antidepressant from Servier, launched in March 2010, reached €3.8m.  Sales of Absorcol and Vytorin, the first of the five li

  6. Slide 6: Good performance of the product portfolio

    Good performance of the product portfolio Corlentor sales (€m) Exxiv sales (€m) 4 5 +46% 4 3 3 2 3,4 2 4,2 4,2 1 2,3 1 0 0 H1 2010 H1 2011 H1 2010 H1 2011 Contrast imaging agents (€m) 14 12 +10%  Very positive results of the SHIFT study which will 10 allow Ivabradine (Corlentor) to obtain a new ind

  7. Slide 7: Value added toll manufacturing services

    Value added toll manufacturing services Toll manufacturing sales (€m) 25 23  Toll manufacturing sales increased by 84% in H1 20 +84% 2011 as a result of the implementation of the MSD 18 manufacturing and packaging agreement. 15 13  Revenues from the MSD amounted to €17.5m 21,8 10 in H1 2011, as a

  8. Slide 8: Gross margin impacted by the increase in the Bemiparin raw material prices

    Gross margin impacted by the increase in the Bemiparin raw material prices Gross profit (€m) & Gross margin (%) 80% 70  H1 2011 gross margin impacted by: 63,7% 63,6%  Fitoladius product sale to a third part. 60 60% • Excluding Fitoladius sale impact, gross 50 margin decreased to 61.3%. 40  Bemipa

  9. Slide 9: Investment effort in human capital to generate growth

    Investment effort in human capital to generate growth R&D expenses (€m) SG&A expenses (€m) 5 45 -6% +16% 40 4 35 30 3 25 4,7 20 40,4 2 4,4 36,4 15 31,4 31,4 1 10 5 0 0 H1 2010 H1 2011 H1 2010 H1 2011 SG&A SG&A (wo Frosst in Q1 2011)  R&D expenses decreased by 6% as a result of our search for greate

  10. Slide 10: EBITDA

    EBITDA EBITDA (€m) and EBITDA margin (%) Recurrent EBITDA (€m) and EBITDA margin (%) 35% 25 20% 16,9% 18 30,2% 14,0% +58% -27% 16 30% 20 14 16,9% 15% 25% 12 20% 15 10 10% 15% 22,0 16,2 8 10 16,2 6 10% 10,2 5% 4 5 5% 2 0% 0 0% 0 H1 2010 H1 2011 H1 2010 H1 2011 EBITDA EBITDA Margin Recurrent EBITDA Re

  11. Slide 11: EBIT

    EBIT EBIT (€m) and EBIT margin (%) Recurrent EBIT (€m) and EBIT margin (%) 30% 27,9% 25 20% 16 -31% +63% 14,5% 25% 20 14,5% 15% 11,7% 12 20% 15 15% 10% 8 20,3 10 13,9 10% 13,9 8,5 5 5% 4 5% 0% 0 0% 0 H1 2010 H1 2011 H1 2010 H1 2011 EBIT EBIT Margin Recurrent EBIT Recurrent EBIT Margin  Depreciation

  12. Slide 12: Net profit

    Net profit Net profit (€m) Recurrent net profit (€m) 20 14 18 12 16 -32% +80% 14 10 12 8 10 18,9 12,9 6 8 6 12,9 4 7,1 4 2 2 0 0 H1 2010 H1 2011 H1 2010 H1 2011  Net profit impacted by the same factors as EBITDA.  Effective tax rate of 3.1% in H1 2011 vs 6.3% in H1 2010.  No taxes paid on Frosst

  13. Slide 13: Capital expenditure

    Capital expenditure Capex (€m) FCF (€m) 3,0 20 +2.8x 2,5 -21% 15 2,0 1,5 10 2,8 17,8 1,0 14,0 5 0,5 1,0 0,0 0 H1 2010 H1 2011 H1 2010 H1 2011  €2.8m of capex invested in H1 2011.  €0.7m of investment capex related to Granada facility.  €0.5m of investment capex related to Alcalá facility (Frosst

  14. Slide 14: Financial debt

    Financial debt Debt breakdown by source (%) Maturities by year (€m) €52.3 million Note: consolidated accounts under IFRS  88% of the debt is 0% interest rate debt  Debt with public administration represented 65% of total debt  Gross cash position of €67.9m as of 30 June 2011 vs €59.8m as of 31 De

  15. Slide 15: Newsflow 2011

    Newsflow 2011 Specialty pharma  Additional new in-licensing products to be launched  New contracts to be announced Toll manufacturing  Signature of the agreement with Novartis for the production and commercialisation of flu vaccines R&D  Phase II final results from the ABEL trial of Bemiparin in

  16. Slide 16: For further information, please contact:

    For further information, please contact: Juan López-Belmonte Chief Executive Officer +34 913756235 jlopez-belmonte@rovi.es www.rovi.es Javier López-Belmonte Chief Financial Officer +34 913756266 javierlbelmonte@rovi.es www.rovi.es Marta Campos Martínez Investor Relations +34 912444422 mcampos@rovi.e

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