Slide 1: First quarter results
2014 First quarter results CONFERENCE CALL ‐ 6 MAY 2014
Slide 2: First quarter 2014 highlights
First quarter 2014 highlights • Revenue € 260.4 million, up 6.5% • EBITDA € 71.4 million or 27.4% of sales, up 16.4% • Operating income (EBIT) € 62.2 million or 23.9% of sales, up 18.1% • Net income € 42.8 million or 16.4% of sales, up 13.2% • Exclusive license for Vitaros® from Apricus Biosciences
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 49.6% of revenue (million Euro) 1Q 2014 1Q 2013 Change % Zanidip® (lercanidipine) 31.3 31.8 (1.5) Zanipress® (lercanidipine+enalapril) 15.7 14.1 11.4 Urorec® (silodosin) 14.5 10.4 39.4 Livazo® (pitavastatin) 6.4 5.9
Slide 4: A diversified product portfolio
A diversified product portfolio Drugs for rare diseases 10.7% Other corporate products 11.7% Livazo 2.5% Urorec 5.6% OTC 17.0% Zanipress 6.0% Zanidip 12.0% Subsidiaries’ local product portfolios 30.4% Pharmaceutical chemicals 3.4% Other revenue 0.7% Data: First quarter 2014 Total revenue € 260.4 m 4
Slide 5: Composition of revenue
Composition of revenue New products and new markets drive growth (million Euro) 1Q 2014 1Q 2013 Change % Italy 65.1 62.6 4.0 France 27.8 29.4 (5.2) Russia, other CIS countries and Ukraine 19.6 24.6 (20.3) Germany 19.6 18.2 7.8 Spain 19.3 7.5 157.7 Turkey 16.4 17.8 (7.8) U.S.A. 11.4 10.4 9.7 North Af
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 16.2% (sales to licensees and exports) Italy 25.8% Other CEE 2,6% Other W. European countries 2.3% North Africa 4.1% Portugal 3.6% U.S.A. 4.5% France 11.1% Turkey 6.5% Russia, other CIS and Ukraine 7.8% Spain 7.7% Germany 7.8
Slide 7: First quarter 2014 results
First quarter 2014 results Significant margin growth (million Euro) 1Q 2014 1Q 2013 Change % Revenue 260.4 244.6 6.5 Gross Profit 173.4 159.2 8.9 as % of revenue 66.6 65.1 SG&A Expenses 90.0 87.1 3.3 as % of revenue 34.6 35.6 R&D Expenses 20.8 18.5 12.6 as % of revenue 8.0 7.6 Other Income (Expense)
Slide 8: Financial position and Shareholders' equity
Financial position and Shareholders’ equity (million Euro) 31 Mar 2014 31 Dec 2013 Change Cash and short‐term financial 105.4 52.3 53.1 investments Bank overdrafts and short‐term loans (25.3) (34.0) 8.7 Loans – due within one year (88.7) (82.5) (6.2) Loans – due after one year (220.4) (196.8) (23.6)
Slide 9: 2014 Outlook
2014 Outlook Objectives • Consolidated sales slightly below € 1 billion, including a significant negative currency effect in addition to Adagen® and Entact® license terminations. • Margin improvement • EBIT to exceed € 220 million • Net Income to exceed € 150 million • No new acquisitions, milestone
Slide 10: Company declarations, disclaimers and profile
Company declarations, disclaimers and profile DECLARATION BY THE MANAGER RESPONSIBLE FOR PREPARING THE COMPANY’S FINANCIAL REPORTS The manager responsible for preparing the company’s financial reports Fritz Squindo declares, pursuant to paragraph 2 of Article 154‐bis of the Consolidated Law on Finan