Slide 1: Mayne Pharma Group Limited FY24 Results Presentation
Mayne Pharma Group Limited FY24 Results Presentation Shawn Patrick O’Brien (CEO) Aaron Gray (CFO)
Slide 2: Disclaimer
Disclaimer The information provided is general in nature and is in summary form only. It is not complete and should be read in conjunction with the company’s audited Financial Statements and market disclosures. This material is not intended to be relied upon as advice to investors or potential inves
Slide 3: Achieved all Key Operating Metrics in FY24
Achieved all Key Operating Metrics in FY241 Deliver positive direct Return Company to Return Company to Optimise cost base with NEXTSTELLIS® run rate contribution in all three positive underlying positive operating cash reductions of >US$10m breakeven segments EBITDA3 in FY24 generation in FY24 ✓ ✓
Slide 4: FY24 Financial Highlights
FY24 Financial Highlights1 Simplification of our business model combined with our strong operating and financial discipline has delivered significantly improved financial results $388m 56.3% $22.9m Revenue Gross margin Underlying EBITDA2 up 112% FY23 up from 45.5% FY23 up from ($95.3m) FY23 $88.5m $
Slide 5: FY24 Operating Highlights
FY24 Operating Highlights Women’s Health Dermatology International • Completed asset purchase • Growth of NEXTSTELLIS®, oxycodone and • 3 new US FDA Orange-Book listed agreement to acquire the global UROREC® in Australia NEXTSTELLIS® patents expiring 2036 rights to RHOFADE® from Novan, • Modernisati
Slide 6: FY24 Group Financial Performance
FY24 Group Financial Performance
Slide 7: Group Continuing Operations Overview
Group Continuing Operations Overview1: Improved operational performance Change vs Change vs A$ million2 FY23 FY24 FY23 ($) FY23 (%) Reported Revenue 183.6 388.4 204.8 112% Reported Gross Profit 83.5 218.8 135.3 162% Reported Direct Contribution (41.8) 88.5 130.3 312% Reported EBITDA (102.0) (92.5) 9
Slide 8: Improved cost leverage through growth and opex discipline
Improved cost leverage through growth and opex discipline (A$m) Segment Performance1 FY23 FY24 Change vs FY23 (A$ million) FY24 Commentary Revenue 183.6 388.4 112% Gross Profit 83.5 218.8 162% • Cost containment measures executed in FY24 offset by Direct Operating Expenses (125.3) (130.2) 4% certain
Slide 9: Group Cash + Marketable Securities balance
Group Cash + Marketable Securities balance (A$m) 250.0 230.0 + 8.1 - 10.1 - 11.7 210.0 - 23.4 + 6.9 - 12.9 190.0 - 10.9 220.1 218.1 170.0 - 10.9 - 5.9 150.0 189.9 149.3 130.0 110.0 30 Jun 2023 30 Jun 2024 Cash balance Cash balance Continuing operations Discontinued operations Investing & Financing (
Slide 10: Segment Performance
rand pharma Segment Performance
Slide 11: Material Improvement in FY24 Direct Contribution
Material Improvement in FY24 Direct Contribution1 Benefit of scale and leverage starting to be demonstrated FY24 Total Direct Contribution $88.5m FY23 Total Direct Contribution Dermatology ($21.0m) $9.0m Women’s Health ($27.7m) ($41.8m) +$130.3m International $6.9m $35.2m $44.3m 11 1. Direct contrib
Slide 12: Segment Performance
Segment Performance Refocused business delivering improved momentum and positive direct contribution in FY24 Change Change Reported results (A$million) 2HFY23 1HFY24 2HFY24 FY23 FY24 vs FY23 2HFY23 1HFY24 2HFY24 FY23 FY24 vs FY23 1 Revenue Gross profit Dermatology 45.8 80.9 93.9 57.0 174.9 207% Derm
Slide 13: Women's Health
rand pharma © Women’s Health
Slide 14: Women's Health – favourable macro trends positions Mayne Pharma well
Women’s Health – favourable macro trends positions Mayne Pharma well Key macro trends in Women’s Health Mayne Pharma • Global menopause market hit US$15.4bn in 2021 and is • BIJUVA® – only available, FDA approved bioidentical projected to reach US$24.4bn by 20301 combination treatment for vasomotor
Slide 15: Women's Health: strong NEXTSTELLIS growth & full year impact of licensed portfolio
Women’s Health: strong NEXTSTELLIS® growth & full year impact of licensed portfolio FY24 Commentary • FY24 revenue up US$52m (125%) compared to FY23 Women's Health in US#039;000 2HFY23 1HFY24 2HFY24 FY23 FY24 Total Revenue 32,667 47,277 46,361 41,671 93,638 • Revenue increase (FY23 to FY24) driven by:
Slide 16: Women's Health: revenue, margin and contribution summary
Women’s Health: revenue, margin and contribution summary 1HFY24 Total Revenue US$47.3m 2HFY24 Total Revenue US$46.4m 2HFY23 Total Revenue US$32.7m +44.6% v 2HFY23 +41.9% v pcp, -2% seq. $2.0, 4% $2.3, 5% $2.2, 7% $5.0, 11% $4.5, 10% $2.9, 9% $13.8, 29% $7.1, 22% $16.3, 35% $8.5, 18% $8.4, 25% $10.7,
Slide 17: NEXTSTELLIS demand cycles up 85%
NEXTSTELLIS® demand cycles1 up 85% NEXTSTELLIS® Quarterly US Demand Cycles (thousands) NEXTSTELLIS ® Net Sales (US$m) and growth (pcp) 35.0 10.4% 113% 138 100.0% 30.1 5.9% 30.0 140.0 11.3% 90.0% 125 19.1% 118 120.0 80.0% 25.0 25.4% 106 70.0% 100.0 22.4% 89 20.0 60.0% 236% 80.0 28.9% 71 50.0% 15.0 14
Slide 18: Driving demand with IMVEXXY and BIJUVA for menopausal patients
Driving demand with IMVEXXY® and BIJUVA® for menopausal patients Licensed Portfolio Demand TRx (thousands)1 IMVEXXY® BIJUVA® ANNOVERA® 350 120 306 98 30 28 27 300 100 26 250 225 76 25 213 80 68 20 200 60 15 150 40 100 10 50 20 5 - - - FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Net Sales: US$19.2m
Slide 19: Dermatology
Dermatology
Slide 20: Dermatology: Mayne Pharma can fill 1 in 3 retail prescriptions for medical dermatology
Dermatology: Mayne Pharma can fill 1 in 3 retail prescriptions for medical dermatology1 Key Macro trends in Dermatology Mayne Pharma • Rising incidence of skin diseases, and a growing awareness • Increasing number of patients are treatable via Mayne and increased spend on personal care (e.g. Acne –
Slide 21: Dermatology: delivering on new product launches and channel strategy
Dermatology: delivering on new product launches and channel strategy FY24 Commentary Dermatology in US#039;000 2HFY23 1HFY24 2HFY24 FY23 FY24 Total Revenue 30,878 52,855 61,782 38,373 114,637 • FY24 revenue up US$76.3m (199%) compared to FY23 Total Gross Profit 10,226 23,908 31,119 7,191 55,028 • Reven
Slide 22: Strong revenue, margin and contribution growth in Dermatology
Strong revenue, margin and contribution growth in Dermatology FY23 Revenue by Category – TOTAL US$38.4 million FY24 Revenue by Category – TOTAL US$114.6 million $4.5, 12% $22.8, 20% Total Growth: 199% $33.9, 88% Growth Drivers $91.8, 80% Top 5 Products All Other RHOFADE® gACCUTANE® AG ORACEA® Top 5
Slide 23: Dermatology – channel strategy / full disintermediation
Dermatology – channel strategy / full disintermediation Network Ecosystem Disintermediation Mayne Pharma is leveraging the inefficiencies Involves removing the intermediary in the dermatology value chain through new (wholesaler) between the manufacturer partnerships aimed at improving patient (Mayne
Slide 24: International
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Slide 25: International: strategic and operational levers building momentum
International: strategic and operational levers building momentum FY24 Commentary International in A#039;000 2HFY23 1HFY24 2HFY24 FY23 FY24 Reported Revenue 37,079 34,608 36,105 64,704 70,713 Reported Gross Profit 10,048 10,480 10,902 18,924 21,382 • FY24 revenue up $6m (9%) compared to FY23 Total Gros
Slide 26: Outlook
rand pharma a Outlook
Slide 27: FY25 outlook and focus
FY25 outlook and focus The Company expects to improve shareholder value with growth in underlying EBITDA in FY25 via revenue growth and cost leverage, with all three segments contributing positive direct contribution Women’s Health Dermatology International Deliver profit potential of current Differ
Slide 28: Q&A – For further information contact
Q&A For further information contact: Australia: Dr Tom Duthy +61 402 493 727 ir@maynepharma.com US: Lisa M. Wilson +1 917-543-9932 ir@maynepharma.com You deserve tomorrow. 28
Slide 29: Appendix
rand pharma Appendix
Slide 30: Women's Health: strong NEXTSTELLIS growth & full year impact of licensed portfolio
Women’s Health: strong NEXTSTELLIS® growth & full year impact of licensed portfolio (shown in AUD) Women's Health in A#039;000 2HFY23 1HFY24 2HFY24 FY23 FY24 Reported Revenue 48,463 72,389 70,439 61,890 142,827 Reported Gross Profit 43,171 58,696 54,762 53,883 113,458 Total Gross Profit % of Revenue 89
Slide 31: Dermatology: delivering on new product launches and channel strategy
Dermatology: delivering on new product launches and channel strategy (shown in AUD) Dermatology in A#039;000 2HFY23 1HFY24 2HFY24 FY23 FY24 Reported Revenue 45,815 80,929 93,929 56,992 174,858 Reported Gross Profit 15,207 36,607 47,328 10,680 83,935 Total Gross Profit % of Revenue 33% 45% 50% 19% 48% D
Slide 32: Reported EBITDA to Underlying Bridge
Reported EBITDA to Underlying Bridge A$million 2HFY23 1HFY24 2HFY24 FY23 FY24 Reported Revenue 131.4 187.9 200.5 183.6 388.4 Reported Gross Profit 68.4 105.8 113.0 83.5 218.8 Total Gross Profit % of Revenue 52% 56% 56% 45% 56% Direct OPEX (64.6) (65.2) (65.1) (125.3) (130.3) Direct Contribution 3.9
Slide 33: Conversion Underlying EBITDA : Underlying Free Cash Flow
Conversion Underlying EBITDA : Underlying Free Cash Flow Continuing operations benefits from operating leverage Continuing Group Discontinued (Underlying) EBITDA (A$ million) 15.8 (7.1) 22.9 FY24 Commentary Non-cash items in underlying EBITDA1 (16.5) (18.8) 2.3 Movements in underlying net working ca
Slide 34: Consolidated Balance Sheet
Consolidated Balance Sheet 2023 2024 Change on ● Working capital movements vs 30 June 2023 pcp include: Balance Sheet Extract A$m A$m A$m Cash 92.6 110.1 17.5 - Receivables: close out disc ops (-$23.6m) Marketable securities 127.5 39.2 (88.3) & revenue growth Receivables 194.9 193.2 (1.7) - Inventor
Slide 35: Dermatology – channel strategy / full disintermediation
Dermatology – channel strategy / full disintermediation Network Ecosystem Disintermediation Mayne Pharma is leveraging the inefficiencies Involves removing the intermediary in the dermatology value chain through new (wholesaler) between the manufacturer partnerships aimed at improving patient (Mayne