Slide 1: 2017 First half results
2017 First half results CONFERENCE CALL – 27 JULY 2017
Slide 2: First half 2017 highlights
First half 2017 highlights • Revenue € 650.9 million, up 10.7% • EBITDA € 224.0 million or 34.4% of sales, up 19.1% • Operating income (EBIT) € 203.2 million or 31.2% of sales, up 19.4% • Net income € 147.0 million or 22.6% of sales, up 19.8% • Net debt € 356.3 million, an increase of € 157.5 millio
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 64.6% of revenue (million Euro) 1H 2017 1H 2016 Change % Zanidip® (lercanidipine) 69.2 63.7 8.7 Zanipress® (lercanidipine+enalapril) 36.3 35.0 3.9 Urorec® (silodosin) 46.5 42.7 8.9 Livazo® (pitavastatin) 19.4 17.7 9.
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 13.9% Drugs for rare diseases 16.0% Livazo® 3.0% Urorec® 7.1% Zanipress® 5.6% OTC 17.1% Zanidip® 10.6% Subsidiaries’ local product portfolios 22.3% Pharmaceutical chemicals 3.6% Ortoton® (methocarbamol) ‐ Germany 3% Other revenue 0.8% Methadon
Slide 5: Composition of revenue by geography
Composition of revenue by geography Continued growth (million Euro) 1H 2017 1H2016 Change % Italy 138.7 118.0 17.6 France 60.1 57.2 5.0 Russia, other CIS countries and Ukraine 56.4 35.7 58.0 U.S.A. 54.7 52.8 3.5 Germany 54.3 48.1 13.1 Turkey 45.7 45.1 1.3 Spain 40.2 37.6 7.0 North Africa 23.1 26.7 (
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 14.6% (sales to licensees and exports) Other CEE 2.6% Italy 22.1% Other W. Europe 4.1% Portugal 3.2% North Africa 3.7% France 9.6% Spain 6.4% Russia, other CIS and Ukraine 9.0% Turkey 7.3% Germany 8.7% U.S.A. 8.7% Data: First
Slide 7: First half 2017 results
First half 2017 results Further margin growth (million Euro) 1H 2017 1H 2016 Change % Revenue 650.9 587.9 10.7 Gross Profit 454.1 407.4 11.5 as % of revenue 69.8 69.3 SG&A Expenses 202.4 187.0 8.2 as % of revenue 31.1 31.8 R&D Expenses 47.2 41.6 13.3 as % of revenue 7.2 7.1 Other Income (Expense), n
Slide 8: First half 2017 results: Operating segments
First half 2017 results Operating segments Revenue EBIT Treatments for rare diseases 16.0% Treatments for rare diseases 22.1% Primary & specialty care Primary & specialty care 84.0% 77.9% EBIT margin on sales: Treatments for rare diseases, 43.1% Primary & Specialty care, 28.9% 8
Slide 9: Net financial position
Net financial position (million Euro) 30 June 2017 31 Dec 2016 Change Cash and short‐term financial 85.8 138.5 (52.7) investments Bank overdrafts and short‐term loans (19.9) (15.7) (4.2) Loans – due within one year (41.6) (40.4) (1.2) Loans – due after one year (380.5) (281.1) (99.4) NET FINANCIAL P
Slide 10: Financial projections 2017 targets
Financial projections 2017 targets 2016 2017 (million Euro) Actual Targets Revenue 1,154 1,290 ‐ 1,300 EBITDA 371 450 ‐ 460 Operating income 327 400 ‐ 410 (EBIT) Net Income 237 290 ‐ 295 10
Slide 11: 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