Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q3 2017 Earnings Presentation
22 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Oct 25, 2017
Slide 1: Q3 2017 results presentation
Guido Oelkers, CEO Mats-Olof Wallin, CFO Philip Wood, Head of Haemophilia 25 October 2017 Q3 2017 results presentation
Slide 2: Forward looking statements
Forward looking statements In order to utilize the ‘Safe Harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995, Swedish Orphan Biovitrum is providing the following cautionary statement. This presentation contains forward-looking statements with respect to the finan
Slide 3: Business highlights Q3 2017 - strong business performance
Business highlights Q3 2017 - strong business performance • Focus on future growth • 37 per cent sales growth in the quarter • 601 per cent product sales growth in Haemophilia • Solid development for Orfadin 20 mg and oral suspension in the US • Outlook 2017 revised 3
Slide 4: Events after the reporting period
Events after the reporting period • A new leadership structure, Executive Committee, was established • New Head of Specialty Care, Norbert Oppitz, recruited • New General Counsel, Torbjörn Hallberg, will join Sobi as of 8 January 2018 4
Slide 5: Financial highlights Q3 2017
Financial highlights Q3 2017 1,800 Total revenue (SEK M) • Total revenue: SEK 1,601 M (1,171) 1,600 • Increase of 37% (41% at CER) 1,400 • Gross margin: 70% (67) 1,200 • EBITA: SEK 536 M (282) 1,000 800 • Cash flow operations: SEK 580M (81) 600 400 200 0 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q2
Slide 6: Financial highlights Jan - Sep 2017
Financial highlights Jan - Sep 2017 1,800 Total revenue (SEK M) • Total revenue: SEK 4,636 M (3,913) 1,600 • Increase of 18% 1,400 • Gross margin: 72% (71) 1,200 • EBITA: SEK 1,434 M (1,333) 1,000 800 • Cash flow operations: SEK 1,076 M (316) 600 400 200 0 15Q2 15Q3 15Q4 16Q1 16Q2 16Q3 16Q4 17Q1 17Q
Slide 7: Commercial results
Commercial results Guido Oelkers Philip Wood
Slide 8: Transforming the world of haemophilia
Transforming the world of haemophilia • Time to market – First EHL factors approved • Established safety and efficacy profile – Most extensive clinical trial and real world experience in EHL • EHL technology – Fc technology represents a natural approach • Pricing – Priced to enable wide access and a
Slide 9: Haemophilia – exuberant growth
Haemophilia – exuberant growth Royalty and Sales Revenues (SEK M): Haemophilia Total revenue SEK 805 M (308) 900 SEK 515 M (73) in sales revenue 800 700 SEK 291 M (235) in estimated royalty 600 revenue 500 400 300 YTD revenue SEK 2, 103 M (1 401) 200 Increase of SEK 1 410 M excluding 100 o
Slide 10: Elocta – most successful European replacement factor launch in 20 years
Elocta – most successful* European replacement factor launch in Europe in 20 years Sales revenue SEK 417 M (57) Sales Revenues (SEK M): Elocta SEK 66 M (19%) growth compared to 500 Q2 2017 Primarily derived from Italy 400 and UK 300 YTD sales revenue SEK 1 018 M (132) 200 Reimbursed in 20
Slide 11: Alprolix – building on a solid basis for growth
Alprolix – building on a solid basis for growth Sales Revenues (SEK M): Alprolix Sales revenue SEK 98 M (17) 120 SEK 14 M (17%) growth compared to Q2 2017 100 Primarily derived from Italy 80 and UK 60 YTD sales revenue SEK 232 M (22) 40 20 Reimbursed in 12 countries 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 12: Orfadin – new formulations continue to add patient value
Orfadin – new formulations continue to add patient value • Revenue SEK 202 M (193) increase of 5% Revenues (SEK M): Orfadin Increase of 8% at CER 250 1 000 • YTD Revenue SEK 639 M (573) 200 800 increase of 12% 150 600 Increase of 10% at CER 100 400 • Strong US growth 50 200 0 0 • Once-daily
Slide 13: Kineret – exploring new indications
Kineret – exploring new indications • Revenue SEK 272 M (265) increase of 3% Revenues (SEK M): Kineret increase of 6% at CER 300 1 200 250 1 000 • YTD Revenue SEK 835 M (735) 200 800 increase of 14% 150 600 Increase of 11% at CER 100 400 50 200 • Continued strong growth in North America 0 0
Slide 14: ReFacto – an important revenue stream
ReFacto – an important revenue stream • Revenue for manufacturing and royalty SEK 143 M (162) Revenues (SEK M): ReFacto Decrease of 12 % due to phasing 250 1 000 200 800 • Manufacturing revenue 150 600 SEK 135 M (145) 100 400 50 200 • Royalty revenue SEK 7 M (17) 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 15: Financial results
Financial results Mats-Olof Wallin
Slide 16: Profit & loss statement
Profit & loss statement Amounts in SEK M Q3-17 Q3-16 Jan-Sep 17 Jan-Sep 16 FY 2016 Total revenues 1,601 1,171 4,636 3,913 5,204 Gross profit 1,129 782 3,320 2,791 3,651 Gross Margin 70% 67% 72% 71% 70% Sales and Administration -371 -327 -1,167 -967 -1,366 Research and development -214 -179 -679 -520
Slide 17: Balance sheet
Balance sheet Amounts in SEK M Sep 2017 Jun 2017 Dec 2016 Sep 2016 ASSETS Intangible 6,535 6,643 6,806 6,893 Tangible and other 277 270 257 257 Total non-current assets 6,812 6,913 7,063 7,151 Inventories 1,095 1,123 870 798 Accounts receivable 941 1,027 769 628 Other Receivable 469 430 487 398 Cash
Slide 18: Summary
Summary Guido Oelkers
Slide 19: Outlook 2017 - revised
Outlook 20171,2 - revised Revenues Sobi now expects total revenues for the full year to be in the range of SEK 6,300 to 6,400 M (6,100 to 6,200) Gross margin Gross margin is expected to be around 70, unchanged EBITA Sobi now expects EBITA for the full year to be in the range of SEK 1,900 to 2,000 M
Slide 20: Focus on future growth
Focus on future growth • Total focus on operational delivery in Haemophilia • Build a powerful Specialty Care Business • Strengthen late stage R&D pipeline • Empower country organisations 20
Slide 21: Q&A
Q&A Guido Oelkers, CEO Mats-Olof Wallin, CFO Philip Wood, Head of Haemophilia Milan Zdravkovic, Head of R&D
Slide 22: @sOobl
@sOobl Pioneer in Rare Diseases
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