Slide 1: First half and 2nd Qtr Financials
Conference Call, 26 July 2007 2007 First half and 2nd Qtr Financials
Slide 2: First half 2007 operational highlights
First half 2007 operational highlights ¾ Revenue € 320.5 million, up 3.0%, international sales grow by 10.8% ¾ EBIT € 69.6 million, up 9.5% ¾ Net income € 44.9 million, up 20.1% ¾ Launch of Zanipress® (lercanidipine/enalapril fixed combination) in Germany ¾ Direct marketing of Zanidip® in Ireland by
Slide 3: Composition of revenue
Composition of revenue (million euro) 1H 2007 1H 2006 Change Italy 105.8 117.2 (9.8) % France 66.6 66.2 0.6 % Germany 25.6 24.4 4.5 % Portugal 23.3 - n.s. Spain 11.5 19.0 (39.1) % United Kingdom 5.9 4.6 26.7 % Ireland 0.8 - n.s. Greece 0.2 - n.s. International licensees 61.7 57.9 6.6 % TOTAL PHARMAC
Slide 4: Pharmaceutical revenue by geographical area
Pharmaceutical revenue by geographical area Ireland 0.3% Germany Spain UK Greece 0.1% Portugal 4% 2% 8% 8% International licensees 21% France 22% 35% Total revenue Italy Pharmaceuticals 94% 6% Data: First half 2007 Total revenue € 320 m Pharmaceutical Pharmaceutical revenue € 301 m chemicals 3
Slide 5: Pharmaceutical revenue
Pharmaceutical revenue % of pharmaceutical Licensed revenue 29% Zanidip® (lercanidipine) 31% Elopram® /Entact® 7% (citalopram/escitalopram) 3% Peptazol® (pantoprazole) 3% 68% Tora-Dol® (ketorolac) 3% Other revenue Claversal® (mesalazine) 3% Methadone 2% Proprietary Tenstaten® (cicletanine) 2% Nitroc
Slide 6: Sources of growth
Sources of growth (% change, first half 2007 over first Volume Price Exchange Total half 2006) PHARMACEUTICALS 7.8 (3.5) (0.2) 4.1 PHARMACEUTICAL (5.0) (3.0) (3.8) (11.8) CHEMICALS TOTAL CHANGE 7.0 (3.5) (0.5) 3.0 5
Slide 7: Lercanidipine sales
Lercanidipine sales (million euro) 1H 2007 1H 2006 Change Italy 21.6 24.1 (10.2) % France 20.8 18.0 20.3 % United Kingdom 5.7 4.6 23.6 % Spain 3.9 4.3 (8.9) % Germany 2.9 0.9 n.s. Others 2.0 0.7 n.s. DIRECT SALES 57.0 52.0 9.7 % 61.2% 57.8% SALES TO LICENSEES 36.2 37.9 (4.6) % 38.8% 42.2% TOTAL LERC
Slide 8: First half 2007 results
First half 2007 results (million euro) 1H 2007 1H 2006 Change Revenue 320.5 311.1 3.0 % Gross Profit 217.1 208.9 4.0 % as % of revenue 67.8% 67.1% SG&A Expenses 121.1 121.2 (0.1) % as % of revenue 37.8% 39.0% R&D Expenses 25.0 23.4 as % of revenue 7.8% 7.5% 7.0 % Operating Income 69.6 63.6 9.5% as %
Slide 9: Second quarter 2007 results
Second quarter 2007 results (million euro) 2Q 2007 2Q 2006 Change Revenue 157.1 149.4 5.2 % Gross Profit 108.1 100.5 7.6% as % of revenue 68.8% 67.3% SG&A Expenses 62.3 58.7 6.0 % as % of revenue 39.6% 39.3% R&D Expenses 12.0 11.6 as % of revenue 7.7% 7.8% 3.5% Operating Income 32.5 29.1 11.8% as %
Slide 10: Net financial position
Net financial position (million euro) 30 Jun 2007 31 Dec 2006 Change Cash and short term financial 157.3 145.0 12.3 investments Bank overdrafts (8.7) (14.6) 5.9 Loans – due within one year (12.0) (20.4) 8.4 Loans – due after one year (86.0) (87.6) 1.6 NET FINANCIAL POSITION 50.6 22.4 28.2 9
Slide 11: Safe harbour and company profile
Safe harbour and company profile Statements contained in this presentation, other than historical facts, are “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best