Slide 1: First nine months and 3Q financials
Milan, Conference Call, 29 October 2008 2008 First nine months and 3Q financials
Slide 2: First nine months 2008 Highlights
First nine months 2008 Highlights ¾ Revenue € 508.2 million, up 9.0%, international sales grow by 12.5% ¾ EBIT € 111.3 111 3 million million, up 10 10.3% 3% ¾ Net income € 76.6 million, up 19.6% ¾ Acquisition of FIC and FIC Médical, our distribution arm in Russia and other C.I.S. countries ¾ New ler
Slide 3: Composition of revenue
Composition of revenue Jan - Sep Jan - Sep Change % (million Euro) 2008 2007 Italy 148.1 151.2 (2.0) France 104.3 100.5 3.8 Germany 38.7 38.3 1.1 Portugal 32.3 32.6 (1.0) Spain 19.5 16.7 16.7 United Kingdom 80 8.0 85 8.5 (6 5) (6.5) Other European countries 3.7 1.6 n.s. C.I.S. countries 14.7 9.8 50.
Slide 4: Breakdown of pharmaceutical revenue
Breakdown of pharmaceutical revenue Other European countries 1% Spain p C.I.S. UK 4% 3% Oth international Other i t ti l sales l Portugal 2% 17% 7% Germany 8% Orphan Europe 6% France 22% Total revenue Pharmaceuticals Italyy 95% 30% 5% Data: First nine months 2008 Total revenue € 508 m Pharmaceutical
Slide 5: Sources of growth
Sources of growth (% change, first nine months 2008 over Volume Price Exchange Total first nine months 2007) PHARMACEUTICALS 14.8 (4.1) (0.6) 10.1 PHARMACEUTICAL CHEMICALS (2.9) (2.1) (5.8) (10.8) TOTAL CHANGE 13.9 (4.0) (0.9) 9.0 4
Slide 6: Lercanidipine sales
Lercanidipine sales Jan - Sep Jan - Sep Change % (million Euro) 2008 2007 Italy 35.6 32.0 11.0 France 37 4 37.4 31 7 31.7 18 2 18.2 Spain 6.9 5.7 20.9 United Kingdom 6.4 8.3 (23.1) G Germany 59 5.9 46 4.6 27 6 27.6 Others 6.5 3.3 n.s. DIRECT SALES 98.7 85.6 15.2 SALES TO LICENSEES 56.0 53.5 4.8 TOTA
Slide 7: First nine months 2008 results
First nine months 2008 results Jan-Sep Jan-Sep (million Euro) Change % 2008 2007 Revenue 508 2 508.2 466 4 466.4 90 9.0 Gross Profit 346.6 316.0 9.7 as % of revenue 68.2% 67.7% SG&A Expenses 190.4 175.6 8.4 as % of revenue 37.5% 37.7% R&D E Expenses 42 3 42.3 36 9 36.9 14 7 14.7 as % of revenue 8.3%
Slide 8: Third quarter 2008 results
Third quarter 2008 results (million Euro) 3Q 2008 3Q 2007 Change % Revenue 160.1 145.9 9.7 Gross Profit 109.7 98.8 11.0 as % of revenue 68.5% 67.7% SG&A Expenses 58.0 54.5 6.4 as % of revenue 36.2% 37.4% R&D Expenses 14.3 11.9 20.5 as % of revenue 20.5% 8.1% Other Income (Expense), net (1.9) (1.2) n
Slide 9: Net financial position
Net financial position (million Euro) 30 Sep 2008 31 Dec 2007 Change Cash and short-term financial 127.0 89.4 37.6 investments Bank overdrafts and short-term (85.1) (98.8) 13.7 loans Loans – due within one year (2.4) (2.9) 0.6 Loans – due after one year (83 1) (83.1) (84 8) (84.8) 17 1.7 NET FINANCI
Slide 10: Growth targets
Growth targets 2008 Change growth 2007 % (million Euro) t targets t Revenue ~ 690 +10% 628.4 R&D expenses ~ 60 +20% 49.1 Operating income ~ 145 +10% 131.5 (EBIT) Net Income ~ 100 +18% 84.9 9
Slide 11: 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