Navamedic Asa · OSL:NAVA
Navamedic Asa — Q4 2023 Earnings Presentation
24 slides from Navamedic Asa's earnings presentation, Feb 15, 2024
Slide 1: Q4 and FY 2023 results
Q4 and FY 2023 Fourth quarter and full year 2023 results 15 February 2024 Kathrine Gamborg Andreassen, CEO Lars Hjarrand, CFO
Slide 2: Our edge explained
Our edge explained A reliable supplier of high-quality pharma products, within Prescription drugs (RX), Consumer Health, and Hospital products including Medical nutrition Presence and sales Strong local insight and across the Nordics understanding of patients’ needs Ambitious growth strategy With a
Slide 3: Key financial indicators | 2023
Key financial indicators | 2023 A year marked by new records and transformative growth initiatives Growth across all business areas. All categories passed the NOK 100 million mark Profitable growth. EBITDA REVENUE GROSS MARGIN Adjusted EBITDA at 10 per cent Acquisition of Sensidose 2023 512.0 MNOK 3
Slide 4: Delivering on our strategy for becoming a NOK 1 billion revenue company
Delivering on our strategy for becoming a NOK 1 billion revenue company GROWTH BASED ON A STRONG FOUNDATION 1 Untapping the potential within existing products, categories and territories. Strengthening the core with a disciplined approach to portfolio management, including adding attractive new prod
Slide 5: High-quality portfolio with several hero products
High-quality portfolio with several hero products Prescription Drugs (RX) Consumer Health Hospital Sold through pharmacies Sold through pharmacies Tenders incl. medical nutrition* FY 2023 FY 2023 102.8 revenue in 42% revenue in 36% 13% MNOK 300.8 108.4 MNOK FY 2023 revenue in MNOK YoY growth YoY gro
Slide 6: Consumer Health
Consumer Health Hero brands continue to deliver double digit growth The Consumer Health segment comprises Navamedic’s over-the-counter products, available to patients without a prescription FY 2023 REVENUE Strategy for growth • Modifast cemented its 108.4 MNOK position in consumer health category wi
Slide 7: Hospital
Hospital Continued growth across the portfolio The Hospital segment comprises Navamedic’s antibiotics portfolio and medical nutrition products for the treatment of Inborn Errors of Metabolism (IEM) FY 2023 REVENUE • Steady growth for Strategy for growth Medical Nutrition and 102.8 MNOK double-digit
Slide 8: Prescription Drugs (RX)
Prescription Drugs (RX) Strong product growth across various therapeutic areas The RX segment comprises Navamedic’s prescription products • Mysimba® remains in 20% YOY GROWTH IN FY 2023 REVENUE high demand with a 24% Strategy for growth MYSIMBA® WHOLESALER increase YTD in revenue, VOLUME 300.8 MNOK
Slide 9: Successful acquisition of Sensidose AB
Successful acquisition of Sensidose AB Implementing commercialisation strategy for growth following the Sensidose acquisition • Transaction placed Navamedic in highly promising position for • Marketing authorization for Flexilev in MyFID® treatment of advanced already in place in 10 European countri
Slide 10: Broad rollout of Eroxon in Norway, Sweden to follow in May
Launching breakthrough treatment for erectile dysfunction ® Broad rollout of Eroxon in Norway, Sweden to follow in May • Navamedic has acquired rights to market and distribute Eroxon® in the Nordic, a clinically proven treatment of erectile dysfunction • Launched in the UK in April 2023 and already
Slide 11: Well ahead of % YoY revenue growth target
Well ahead of 20 % YoY revenue growth target Consistent positive trend in revenue and EBITDA +170% +34% 500 125 Revenue growth YoY of Adjusted EBTIDA (NOK million) Revenues (NOK million) 400 100 34 percent in 2023, and up 170 percent from 2019 300 75 Growth will continue, with some short-term fluctu
Slide 12: Financials
FINANCIALS @ Navamedic
Slide 13: Key consolidated profit and loss figures
Financials In Q4 2023, revenues grew by 8% compared to the same quarter last year, and 34% for the full year Key consolidated profit and loss figures Gross Profit came in at 36.5% for Q4 (in NOK '1000) Q4 2023 Q4 2022 FY 2023 FY 2022 and 38.9% for the year. The decrease from LY is due to product mix
Slide 14: Assets
Financials Assets The increase in Goodwill is mainly due to the Sensidose acquisition (in NOK '1000) 31.12.2023 31.12.2022 Intangible assets are up due to Goodwill 156 729 100 743 Sensidose acquisition as well as Deferred tax assets 930 835 Mysimba milestone Other intangible assets 97 627 30 537 Loa
Slide 15: Equity and liabilities
Financials Equity and liabilities (in NOK '1000) 31.12.2023 31.12.2022 Total equity 222 900 209 720 Equity ratio of 43% Non-current license liabilities 3 988 3 762 Non-current interest-bearing borrowings 95 479 38 368 Total loans and borrowings increase is Non-current right of use liabilities 3 892
Slide 16: Cash flow Group – total operations
Financials Cash flow Group – total operations The cash flow from Operating Activities (in NOK '1000) Q4 2023 Q4 2022 YTD 2023 YTD 2022 is mainly the result of Net profit Net cash flow from operating activities -25 348 19 929 2 179 17 941 coupled with changes in working Net cash flow from investing a
Slide 17: Summary & Outlook
SUMMARY & OUTLOOK @ Navamedic
Slide 18: Continued strong growth and new expansion opportunities
Navamedic ASA summary and outlook Continued strong growth and new expansion opportunities TARGETS AND AMBITIONS Targeting 20% annual growth • Navamedic delivered NOK 512.0 million in revenue in 2023, representing an increase of 34.0 % from 2022. All categories were above NOK 100 million Mid-term amb
Slide 19: Q&A
Q&A 19 @ Navamedic
Slide 20: Thank you for your attention!
Thank you for your attention! Navamedic’s Q1 2024 presentation will be held on 30 April 2024 20
Slide 21: Appendix
APPENDIX @ Navamedic
Slide 22: Condensed consolidated statement of cash flows
Navamedic ASA Condensed consolidated statement of cash flows (in NOK '1000) Q4 2023 Q4 2022 YTD 2023 YTD 2022 Cash flow from operating activities Profit before tax 119 27 165 10 834 42 506 Adjusted for: Depreciation, amortization and impairment 4 391 1 800 11 926 7 242 Financial income / expenses wi
Slide 23: Basis for preparation; Definitions of Alternative Performance Measures
Appendix Basis for preparation This presentation provides financial highlights for the quarter for Navamedic Group. The financial information is not reported according to the requirements in IAS 34 (Interim Financial Reporting) and the figures are not audited. The same measurement principles as pres
Slide 24: Copyright and disclaimer
Appendix Copyright and disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Navamedic and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any