Slide 1: 1H and 2Q financials
Milan, Conference Call, 30 July 2008 2008 1H and 2Q financials
Slide 2: First half 2008 Highlights
First half 2008 Highlights ¾ Revenue € 348.2 million, up 8.6%, international sales grow by 13 3% 13.3% ¾ EBIT € 75.8 million, up 8.9% ¾ Net income € 52.4 million, up 16.7% ¾ Launch of Zan-Extra® in Australia ¾ Sale of the Portuguese production facility and business ¾ Acquisition of FIC and FIC Médic
Slide 3: Composition of revenue
Composition of revenue (million Euro) 1H 2008 1H 2007 Change % Italy 103 3 103.3 105.8 105 8 (2.4) (2 4) France 70.1 66.6 5.2 Germany 26.0 25.6 1.6 Portugal 23.2 23.3 (0.5) Spain 13.4 11.5 16.5 g United Kingdom 5.4 5.8 ((7.0)) Other European countries 2.4 1.0 n.s. C.I.S. countries 9.7 6.4 52.6 Other
Slide 4: Breakdown of pharmaceutical revenue
Breakdown of pharmaceutical revenue Other European countries 0.7% Spain UK CIS C.I.S. Portugal Other international sales 4% 2% 3% 7% 17% Germanyy 8% 6% Orphan Europe 21% France 31% Total revenue Pharmaceuticals Italy 95% 5% Data: First half 2008 Total revenue € 348 m Pharmaceutical chemicals h i l P
Slide 5: Sources of growth
Sources of growth (% change, first half 2008 over first half Volume Price Exchange Total 2007) PHARMACEUTICALS 14.4 (3.8) (0.6) 10.0 PHARMACEUTICAL CHEMICALS (4.5) (2.4) (6.4) (13.3) TOTAL CHANGE 13.3 (3.7) (1.0) 8.6 4
Slide 6: Lercanidipine sales
Lercanidipine sales ((million Euro)) 1H 2008 1H 2007 Change % Italy 23.7 21.6 9.3 France 25.1 20.8 20.9 Spain 47 4.7 39 3.9 19 0 19.0 United Kingdom 4.4 5.7 (22.3) Germany 3.9 2.9 31.8 Others 4.6 2.0 n.s. DIRECT SALES 66.3 57.0 16.4 SALES TO LICENSEES 37.2 36.2 2.7 TOTAL LERCANIDIPINE SALES 103 5 10
Slide 7: First half 2008 results
First half 2008 results (million Euro) 1H 2008 1H 2007 Change % Revenue 348.2 320.5 8.6 Gross Profit 237.0 217.1 9.1 as % of revenue 68.1% 67.8% SG&A Expenses 132.3 121.1 9.3 as % of revenue 38.0% 37.8% R&D Expenses 28.0 25.0 11.9 as % of revenue 8.1% 7.8% Other Income (Expense), net (0.8) (1.4) (40
Slide 8: Second quarter 2008 results
Second quarter 2008 results (million Euro) 2Q 2008 2Q 2007 Change % Revenue 176.3 157.1 12.3 Gross Profit 120.8 108.1 11.7 as % of revenue 68.5% 68.8% SG&A Expenses 69.0 62.3 10.8 as % of revenue 39.1% 39.6% R&D Expenses 14.6 12.0 21.2 as % of revenue 8.3% 7.7% Other Income (Expense), net 0.4 (1.3)
Slide 9: Net financial position
Net financial position (million Euro) 30 Jun 2008 31 Dec 2007 Change Cash and short-term financial 125.3 89.4 35.9 investments Bank overdrafts and short-term (124.9) (98.8) (26.1) loans Loans – due within one year (2.3) (2.9) 0.6 Loans – due after one year (84 0) (84.0) (84 8) (84.8) 08 0.8 NET FINA
Slide 10: Growth targets
Growth targets 2008 Change growth 2007 % (million Euro) t targets t Revenue ~ 690 +10% 628.4 R&D expenses ~ 60 +20% 49.1 Operating income ~ 145 +10% 131.5 (EBIT) Net Income ~ 100 +18% 84.9 9
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