Recordati S.p.a. · MIL:REC
Recordati — 9M 2009 Earnings Presentation
10 slides from Recordati's earnings presentation, Oct 27, 2009
Slide 1: First nine mos and 3Q financials
Conference call, 27 October 2009 2009 First nine mos and 3Q financials
Slide 2: First Nine Months 2009 Highlights
FIRST NINE MONTHS 2009 HIGHLIGHTS • Revenue € 556.2 million, up 9.4%, international sales grow by 13.0% • Operating income (EBIT) € 121.8 million, up 9.5% • Net Income € 85.3 million, up 11.3% • Acquisition of Herbacos-Bofarma in the Czech Republic • Almirall and Nycomed to co-market co market silod
Slide 3: Composition of Revenue
COMPOSITION OF REVENUE Jan-Sep Jan-Sep Change % (million Euro) 2009 2008 Italy 151.9 148.1 2.5 France 106.7 104.3 2.3 Germany 45.2 38.7 16.8 Portugal 29.3 32.3 (9.2) Spain 20.8 19.5 6.9 United Kingdom 81 8.1 80 8.0 14 1.4 Other Western European countries 5.0 3.7 34.6 Russia, Turkey, other CEE countr
Slide 4: Composition of Pharmaceutical Revenue
COMPOSITION OF PHARMACEUTICAL REVENUE Portugal 5.5% Spain 3.9% Germany 8 8.4% 4% UK 1 1.5% 5% Other European countries 0.9% Russia, Turkey, other CEE 6.9% France 19.9% Other international sales 17.9% Pharmaceutical Italy 28.4% Orphan Europe 6.7% chemicals 3.7% Pharmaceuticals 96.3% Data: First nine
Slide 5: Lercanidipine Sales
LERCANIDIPINE SALES Jan-Sep Jan-Sep Change % (million Euro) 2009 2008 DIRECT SALES 109.7 98.7 11.2 SALES TO LICENSEES 65.6 56.0 17.0 TOTAL LERCANIDIPINE SALES 175 3 175.3 154 7 154.7 13 3 13.3 4
Slide 6: First Nine Months 2009 Results
FIRST NINE MONTHS 2009 RESULTS Jan-Sep Jan-Sep (million Euro) Change % 2009 2008 Revenue 556.2 508.2 9.4 Gross Profit 379.2 346.6 9.4 as % of revenue 68 2 68.2 68 2 68.2 SG&A Expenses 200.8 190.4 5.5 as % of revenue 36.1 37.5 R&D Expenses 49.5 42.3 17.2 as % of revenue 8.9 8.3 Other Income (Expense)
Slide 7: Third Quarter 2009 Results
THIRD QUARTER 2009 RESULTS (million Euro) 3Q 2009 3Q 2008 Change % Revenue 176 9 176.9 160 1 160.1 10 5 10.5 Gross Profit 121.1 109.7 10.5 as % of revenue 68.5 68.5 SG&A Expenses 63.1 58.0 8.7 as % of revenue 35.7 36.2 R&D Expenses 15 8 15.8 14 3 14.3 10 8 10.8 as % of revenue 9.0 8.9 Other Income (
Slide 8: Net Financial Position and Shareholder's Equity
NET FINANCIAL POSITION AND SHAREHOLDER’S EQUITY (million Euro) 30 Sep 2009 31 Dec 2008 Change Cash and short-term financial 75.8 95.0 (19.2) investments Bank overdrafts and short-term (56.8) (90.8) 34.0 loans Loans – due within one year (2 5) (2.5) (2.2) (0.3) Loans – due after one year (82.8) (82.9
Slide 9: 2009 Targets
2009 TARGETS 2008 2009 Actual Targets (million Euro) Revenue 689.6 ~750 Operating income (EBIT) 144.7 >160 N t Income Net I 100 4 100.4 >110 110 8
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