PharmaNutra S.p.A. · MIL:PHN
PharmaNutra — FY2022 Earnings Presentation
29 slides from PharmaNutra's earnings presentation, Mar 16, 2023
Slide 1: FY 2022 Financial Results
FY_2022 FINANCIAL RESULTS March 16th, 2023
Slide 2: Disclaimer
2 DISCLAIMER This document has been prepared by Pharmanutra S.p.A. (the “Company”) for use during meetings with investors and financial analyst and is solely for information purposes. It contains solely data and information provided by the Company or already in the public domain. This Document may n
Slide 3: Group Presentation & Highlights 2022
GROUP PRESENTATION & HIGHLIGHTS 2022
Slide 4: Pharmanutra Group
4 PHARMANUTRA 2022 GROUP Research and development of bioimpedance medical devices and software for body composition analysis PharmaNutra holds 100% of 2010 Junia Pharma and Alesco and at the end of the year completed Medical products and devices, OTC and dietary the acquisition of 100% of the supple
Slide 5: Highlights FY 2022
5 HIGHLIGHTS FY 2022 ▪ Acquisition of 100% of the share capital of Akern ▪ Launch of the new Cetilar® Oro and ApportAL® Vital food supplements representing an important extension of the Cetilar® and ApportAL® lines. ▪ Opening of the new online store dedicated to the SiderAL® line on the cross-border
Slide 6: Highlights FY 2022
6 HIGHLIGHTS FY 2022 ▪ Pharmanutra USA based in Florida, was established in December ▪ During the year, Pharmanutra received from the local Revenue Agency an invitation to activate the assessment by agreement procedure for the 2016 tax period. With the aim to apply for the cooperative compliance ins
Slide 7: Economic and Financial Data
7 ECONOMIC AND FINANCIAL DATA
Slide 8: Highlights FY 2022
8 HIGHLIGHTS FY 2022 + 21% NET REVENUES € 82,7 M (+21,5% COMPARE TO 2021) ▪ 21,5% Increase in Net Sales Revenues EBITDA € 24,4 M ▪ 21,3% EBITDA Growth + 21% (29,4% MARGIN ON NET REVENUES) ▪ 29,4% EBITDA Margin on Net Revenues ▪ 13%* Net Result increase NET RESULT € 15,1 M + 13%* (18% MARGIN ON REVEN
Slide 9: Highlights Comparison Excluding Akern
9 HIGHLIGHTS COMPARISON EXCLUDING AKERN 2022 excl. 2022 Total AKN Amounts (€/000) 2021 ∆ 22/21 ∆ 22/21 Akern Group Contribution Net Sales Revenues 80.763 68.114 18,6% 82.724 21,4% 2,9% EBITDA 23.802 20.080 18,5% 24.358 21,3% 2,8% Net Result 14.778 13.771 7,3% 15.048 9,3% 2,0% Net Result excl. non-re
Slide 10: Net Revenues
10 NET REVENUES Net revenues at 31.12.2022 accounted for € 82.7 million, recording a growth of 21,5% compared to the previous year. Revenues on domestic market grew by 23,9% while revenues on the foreign market recorded a growth of 15,7%. Akern’s net revenues (as of July 1st) accounted for € 1,9 mil
Slide 11: Profit and Loss
11 PROFIT AND LOSS PHN GROUP PROFIT AND LOSS (€/000) 31/12/2022 31/12/2021 REVENUES A) REVENUES 83.394 68.836 Consolidated revenues accounted for € 82,7 million with an increase of Net Revenues 82.724 68.114 21% compared to the same period of the previous year. The increase is Other revenues 670 722
Slide 12: Reclassified Consolidated Balance Sheet
12 RECLASSIFIED CONSOLIDATED BALANCE SHEETAmounts in €/000 31/12/2022 31/12/2021 ∆ 2022 vs 2021 Trade Receivables Trade receivables 21.647 16.673 4.974 The increase in trade receivables is due to higher revenues Inventories 5.261 2.865 2.396 Other Receivables/Other Payables Trade Payables (16.882) (
Slide 13: Consolidated Cash Flow
13 CONSOLIDATED CASH FLOW Cash Flow (€/000) 31/12/2022 31/12/2021 Net Result 14.778 13.771 CASH FROM OPERATING ACTIVITIES NON MONETARY EXPENSES Change in operating working capital Amortization, depreciation and w.o. 1.210 1.389 Increase in trade receivables due to higher revenues and sales volumes.
Slide 14: Net Financial Position
14 NET FINANCIAL POSITION NFP The Net Financial Position at 31.12.2022 accounted for € 10,6 million. The decrease compared to 31.12.2021 is mainly due to the acquisition of Akern (€ 11,3 million), to capital expenditures related to the construction of the new Headquarter and other operating capex (€
Slide 15: Market
MARKET
Slide 16: Trend IMS & OD
16 Trend IMS & OD Monthly Average Source IQVIA
Slide 17: Iron Supplements SiderAL Market Share in Italy
17 IRON SUPPLEMENTS SIDERAL® MARKET SHARE IN ITALY Excluding products that contain only lactoferrin Source IQVIA
Slide 18: Anti-Inflammatory Topical Cream Cetilar Market Share in Italy
18 ANTI-INFLAMMATORY TOPICAL CREAM CETILAR® MARKET SHARE IN ITALY Source IQVIA Source IQVIA
Slide 19: ApportAL Compared to the Reference Markets
19 APPORTAL® COMPARED TO THE REFERENCE MARKETS
Slide 20: International Development
20 INTERNATIONAL DEVELOPMENT 11 new distribution contracts signed (Benelux, Denmark, Saudi Arabia, Malta, Indonesia, Kuwait, Mexico, Albania, Nigeria, Chile, Uruguay). COUNTRIES PARTNERS Contracts 67 45 Active Sales 59 39 On-going Registration 8 6 On-going Negotiation 7 9
Slide 21: Outlook 2023
OUTLOOK 2023 @PHARMANUTRA ea aia
Slide 22: Growth Boosters
22 GROWTH BOOSTERS THE NEW GROWTH DRIVERS FOR THE NEXT 5 TO 10 YEARS THE RIGHT MOMENTUM TO INVEST IN LONG TERM BUSINESS OPPORTUNITIES Financial strenght - positive cash position Solid double-digit organic growth trend in terms of sales and profitability Significant potential market opportunies to ex
Slide 23: Akern
23 AKERN CLINICAL ENVIRONMENT EXPLOITING NEW TARGET Developing new clinical market Gaining benefit from Pharmanutra's segments thanks to the established network of partners Pharmanutra’s know-how SPORTS FIELD AND SPORTING EVENTS Strenghten the presence in sports field through the organization of joi
Slide 24: Cetilar Nutrition
24 CETILAR® NUTRITION COMMUNICATION INVESTMENTS Investments in tailored marketing & communication campaign, exploiting Cetilar strong franchise in sport B2B Creation of a specific sales network to INNOVATIVE PRODUCTS promote products to doctors, PORTFOLIO pharmacies, sport shops and professional spo
Slide 25: Pharmanutra España
25 PHARMANUTRA ESPAÑA CULTURAL AFFINITIES SYNERGIES WITH AKERN Culture, habits and lifestyle similar to Italy Opportunity to develop the domestic Spanish market in collaboration with Akern CROSS PRODUCT PORTFOLIO FINANCIAL EFFORT Sales & Distribution of Limited investments the full Cetilar brand req
Slide 26: Pharmanutra USA
26 PHARMANUTRA USA US MARKET POTENTIAL Developing Pharmanutra’s footprint in one of the most wealthy markets in the world NETWORK OF PARTNERS Strengthen and develop the relationships estabilished during scientific congresses and motorsport events PHARMANUTRA’S TOP BRAND AND PRODUCTS Entering in the
Slide 27: China
27 CHINA OTC MARKET POTENTIAL Online iron market estimated above 100 M€ per year with more than 40 M€ from foreign products. Yearly double-digit growth on the e-commerce channel expected in the next five years MARKETING B2C Flexible Cross-border sales marketing through the TMG strategies that store
Slide 28: Speed Up R&D & Innovation
28 SPEED UP R&D & INNOVATION NEW LABORATORY The new HQ will hold one of the most innovative nutritional research 01 & development laboratory in Europe R&D ▪ Exclusive lab models for the simulation of digestion and uptake of nutrients ▪ Increased prototipes in vitro scanning capabilities 03 02 ▪ High
Slide 29: Pharmanutra
MPHARMANUTRA ogee samara