PharmaNutra S.p.A. · MIL:PHN
PharmaNutra — FY2024 Earnings Presentation
30 slides from PharmaNutra's earnings presentation, Mar 14, 2025
Slide 1: FY 2024 Financial Results
FY_2024 FINANCIAL RESULTS March 14th, 2025
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: Highlights FY 2024
HIGHLIGHTS FY 2024 \ f @MPHARMANUTRA MIND EEE eeE———
Slide 4: Highlights - Financial
HIGHLIGHTS - FINANCIAL 4 • Solid and organic growth in revenue and EBITDA, with increases of approximately 15% and 17%, respectively, compared to the previous year. • The contribution of new projects to revenues remains marginal, while the associated development costs (around €6 million) have led to
Slide 5: Highlights - Strategy
HIGHLIGHTS - STRATEGY 5 • Agreement signed with a leading international strategic consulting firm for the definition of a development plan for Pharmanutra USA • Revenues from the Chinese market through ecommerce cross border platforms reached almost € 2 million (€0,5 in 2023) with significant opport
Slide 6: Highlights – Corporate
HIGHLIGHTS – CORPORATE 6 • Completion of the merger by incorporation of Alesco and Junia Pharma into Pharmanutra with the development of significant IT, logistics, commercial, corporate and administrative synergies, and the optimization of business processes to allow the containment of the overall c
Slide 7: Economic and Financial Data
ECONOMIC AND FINANCIAL DATA @PHARMANUTRA
Slide 8: Highlights FY 2024
8 HIGHLIGHTS FY 2024 ▪ Net Sales Revenues organic increase of 15,3% NET REVENUES € 115,5 M + 15% (€ 100,2 M IN FY 2023) compared to FY 2023. ▪ 26,6% EBITDA margin on net revenues. EBITDA margin on net revenues related to the recurring business EBITDA € 31 M 31,4% (30,4% in FY 2023). +17% (+17% COMPA
Slide 9: Net Revenues
9 NET REVENUES Net revenues at 31.12.2024 accounted for € 115,5 million, recording a 15,3% increase compared to the previous year. Revenues on foreign markets recorded a growth of 24% while revenues on domestic market increased by 10,7% despite a challenging competitive environment. Akern’s net reve
Slide 10: Net Revenues by Trademark and Area of Business
10 NET REVENUES BY TRADEMARK AND AREA OF BUSINESS Revenues breakdown by Trademark and Area of Business Incidence % €/000 2024 2023 Δ% 2024 2023 Sideral 80.626 71.534 12,7% 69,8% 71,4% Cetilar 11.393 10.055 13,3% 9,9% 10,0% Apportal 10.484 8.092 29,6% 9,1% 8,1% Ultramag 1.451 1.024 41,8% 1,3% 1,0% Ot
Slide 11: Profit and Loss
11 PROFIT AND LOSS PHN GROUP PROFIT AND LOSS (€/000) 31/12/2024 31/12/2023 REVENUES Consolidated net revenues reached €115.4 million, marking a 15.3% A) REVENUES 116.911 101.963 increase over the previous year, mainly driven by higher sales volumes. Net Revenues 115.498 100.202 Revenues from new bus
Slide 12: Reclassified Consolidated Balance Sheet
12 RECLASSIFIED CONSOLIDATED BALANCE SHEET Amounts in €/000 31/12/2024 31/12/2023 ∆ 2024 vs 2023 Operating Working Capital Trade receivables 22.052 19.219 2.833 Changes in operating working capital included an increase in Inventories 6.942 8.166 (1.224) trade receivables driven by higher sales volum
Slide 13: Consolidated Cash Flow
13 CONSOLIDATED CASH FLOW Cash Flow (€/000) 31/12/2024 31/12/2023 Net Result 16.552 12.832 NON MONETARY EXPENSES Amortization, depreciation and w.o. 3.929 3.123 Accrual for employees benefits 972 912 CASH FROM OPERATING ACTIVITIES Net result attributable to non-controlling interests 57 0 The increas
Slide 14: Net Financial Position
14 NET FINANCIAL POSITION NFP The significative amount of cash generated by the operating activities (€ 20,5 M) allowed the Group to came back to a positive cash position net of outflows related to Capex (€ 3,6M), share buybacks (€ 551K) and dividend distribution (€ 8,2M).
Slide 15: Quarter Results vs Last Year
15 QUARTER RESULTS VS LAST YEAR
Slide 16: Market
MARKET @PHARMANUTRA
Slide 17: Pharmanutra Is a Relevant Player in the Italian Nutraceutical Market
17 PHARMANUTRA IS A RELEVANT PLAYER IN THE ITALIAN NUTRACEUTICAL MARKET TOP 10 COMPANIES IN THE NUTRACEUTIC MARKET 2021 2022 2023 2024 COMPANIES: 729 Source IQVIA_Turnover of the top 10 pharmacy companies (Retail price millions of €) PRODUCTS: 7.190 Evaluation on the Nutraceutical Market; does not i
Slide 18: Two Pharmanutra Products in the Top20 Dietary Supplements Sold in Italy
18 TWO PHARMANUTRA PRODUCTS IN THE TOP20 DIETARY SUPPLEMENTS SOLD IN ITALY Since November 2019 is N°1 Dietary Supplement sold in Italy 13° Source: New Line Ricerche di Mercato
Slide 19: Iron Supplements Sideral Market Share in Italy
19 IRON SUPPLEMENTS SIDERAL® MARKET SHARE IN ITALY Excluding products that contain only lactoferrin Source IQVIA
Slide 20: Anti-Inflammatory Topical Cream Cetilar Market Share in Italy
20 ANTI-INFLAMMATORY TOPICAL CREAM CETILAR® MARKET SHARE IN ITALY Source IQVIA
Slide 21: Tonics Apportal Market Share in Italy
21 TONICS APPORTAL® MARKET SHARE IN ITALY Source: New Line Ricerche di Mercato
Slide 22: Wide International Network
22 WIDE INTERNATIONAL NETWORK PHARMANUTRA U.S. Corp. CROSS BORDER E-COMMERCE PHARMANUTRA SpA PHARMANUTRA ESPANA PharmaNutra operates in 86 countries with 58 partners, carefully selected among the best international pharmaceutical and nutraceutical companies.
Slide 23: China Sales Development
CHINA SALES DEVELOPMENT Thousands @PHARMANUTRA 1.871 1.098 704 455 31/12/2022 31/12/2023 30/06/2024 30/09/2024 31/12/2024 CHINA SALES
Slide 24: Stock and Consensus Performance
STOCK AND CONSENSUS PERFORMANCE
Slide 25: Consensus Compared to Actual Result - Revenues
25 CONSENSUS COMPARED TO ACTUAL RESULT - REVENUES AVG. Growth rate vs CONSENSUS → +5,5% CAGR 2021-2024 REVENUES → +19,6%
Slide 26: Consensus Compared to Actual Result - EBITDA
26 CONSENSUS COMPARED TO ACTUAL RESULT - EBITDA AVG. Growth rate vs CONSENSUS → +16,5% CAGR 2021-2024 EBITDA → +18% Consensus Q4 2024 Source: Intermonte
Slide 27: DPS vs Stock Performance
DPS VS STOCK PERFORMANCE @PHARMANUTRA €0,90 €0,75 €0,60 €0,45 €0,30 1,00 12,70 2017. «2018 += 2019 2020 -e@-Dividend per share 2021 2022 = =©2023 -@-Stock Performance (31/12) 2024 €80,00 €70,00 €60,00 €50,00 €40,00 €30,00 €20,00
Slide 28: Outlook 2025
OUTLOOK 2025 / — @PHARMANUTRA wei Geeeetnnit =< eR 7mm
Slide 29: Outlook 2025
29 OUTLOOK 2025 ▪ The expected growth of the recurring business in line with that of 2024 and the strong cash generation capacity will support the development of new projects that will lead to a limited reduction in margins for the next two years. ▪ The development plan for USA is being implemented;
Slide 30: Q@PHARMANUTRA
Q@PHARMANUTRA