Gsk Plc · LSE:GSK
Gsk — GlaxoSmithKline — Q2 2002 Earnings Presentation
15 slides from Gsk's earnings presentation, Jul 24, 2002
Slide 1: Second Quarter Results Presentation to Investors/Analysts
Second Quarter Results Presentation to Investors/Analysts 24th July 2002
Slide 2: Financial Results
Financial Results John Coombe Chief Financial Officer
Slide 3: Statutory Results
Statutory Results Business Exceptional Total Total Performance Items* 2Q02 2Q01 £m £m £m £m Sales 5415 - 5415 5122 Trading profit 1819 (194) 1625 1289 Profit before tax 1827 (194) 1633 1449 EPS 21.9p (2.2)p 19.7p 16.8p * Costs associated with merger integration and manufacturing restructuring 3
Slide 4: Business Performance Results
Business Performance Results 2Q02 2Q01 % change £m £m CER Reported Sales 5,415 5,122 8 6 - Pharma Sales 4,613 4,320 9 7 Trading profit 1,819 1,542 22 18 Other operating income 16 67 Disposal of associate 0 96 Net interest expense (29) (23) Profit before tax 1,827 1,702 10 7 Tax rate 27.0% 26.8% Earn
Slide 5: One-Time Gains
One-Time Gains £418m £133m £11m 2000 2001 H102 Other Other Income Income ++ Profits Profits on on Disposal Disposal of of Businesses Businesses 5
Slide 6: Performance by Operating Division
Performance by Operating Division 2Q02 2Q01 Growth £m £m CER % Sales 5,415 5,122 8 Pharmaceuticals 4,613 4,320 9 Consumer Healthcare 802 802 3 Trading Profit Pharmaceuticals 1,697 1,423 23 Consumer Healthcare 122 119 6 6
Slide 7: Trading Profit Analysis
Trading Profit Analysis 2Q02 2Q01 Change £m £m CER% Sales 5,415 5,122 8 Cost of goods 1,052 1,077 0 19.4% 21.0% S,G&A 1,950 1,882 5 36.0% 36.8% R&D 594 621 (3) 11.0% 12.1% Trading profit 1,819 1,542 22 33.6% 30.1% % % in in italics italics are are % % of of sales sales 7
Slide 8: Strong Cash Flow
Strong Cash Flow 2Q 02/£m 2Q01/£m Net Operating Cash Flow 2,101 1,927 Interest (39) (53) Taxation (427) (484) Capital expenditure (232) (220) Dividends paid (719) (1,067) Sale/Disposal of investments 53 221 Purchase of own shares for cancellation (1,084) - Net Issue of shares 28 111 Other 13 27 (Inc
Slide 9: Pharmaceutical Sales
Pharmaceutical Sales Robert Ingram Chief Operating Officer
Slide 10: Pharmaceuticals - Sales by Region
Pharmaceuticals - Sales by Region % growth - three months ended 30th June 2002 £888m % share (+5%) USA 55 Europe 26 £2,551m RoW 19 (+15%) £1,174m (+1%) Total sales £4,613m increase of 9% 10
Slide 11: Augmentin ES in children's ear infections
• 80% of children are in some type of Daycare where they are more prone to ‘tough-to-treat’ resistant pathogens • Augmentin ES is the only antibiotic with an indication specific to ‘tough-to-treat’ ear infections 11
Slide 12: Paxil CR NRx Uptake
Paxil CR NRx Uptake - Paxil CR Portion of Paxil NRxs (%) 14% 12% ** 10% 8% 6% * 4% 2% 0% Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Week 11 Week 12 Week 13 * Memorial Day Holiday week Scott Levin - Weekly Data ** July 4 Holiday week 12
Slide 13: Anti-Viral
Anti-Viral three months ended 30th June 2002 World USA Europe RoW % % % % £m chg £m chg £m chg £m chg HIV 362 9 210 8 115 9 37 17 Valtrex 105 31 68 34 20 38 17 17 Total Anti-Viral 570 12 294 19 158 6 118 4 % change is at constant exchange rates 13
Slide 14: GI/Metabolic
GI/Metabolic three months ended 30th June 2002 World USA Europe RoW % % % % £m chg £m chg £m chg £m chg Avandia 222 4 193 (1) 11 38 18 64 Zantac 101 (21) 21 (14) 29 (32) 51 (17) Total GI/Metabolic 385 (5) 215 (2) 62 (18) 108 (3) % change is at constant exchange rates 14
Slide 15: Respiratory
Respiratory three months ended 30th June 2002 World USA Europe RoW % % % % £m chg £m chg £m chg £m chg Seretide 416 >100 224 >100 153 45 39 93 Flixotide/Flovent 194 (22) 95 (30) 55 (24) 44 4 Serevent 136 (19) 75 (25) 50 (15) 11 8 Key asthma prd’s 746 22 394 29 258 9 94 28 Flixonase/Flonase 150 17 11