Slide 1: 2022 First Half Results
2022 First Half Results Milano, 28th July 2022
Slide 2: First half 2022 key highlights
First half 2022 key highlights • June YTD financial results reflect very strong underlying operating performance of the business: - Net Revenue of €892.5 million, +8.7% organic growth at CER(1) vs PY, or +15.8% overall - EBITDA(2) of €334.9 million is +11.5% vs PY, margin of 37.5% - Adjusted Net Inc
Slide 3: EUSA Pharma acquisition
EUSA Pharma acquisition Integration of Rare and Niche Oncology franchise on track; strong revenue contribution in Q2, ahead of Plan Oncology RRD franchise pro-forma Revenue(1) Key highlights • Integration of EUSA Pharma organization in Recordati Rare +15% Diseases on track; new integrated organizati
Slide 4: Main products sales
Main products sales (million Euro) 1H 2022 1H 2021 Change % Zanidip® and Zanipress® (lercanidipine+enalapril)(1) 86.6 100.9 (14.1) Seloken®/Seloken® ZOK/Logimax® 48.5 49.7 (2.5) (metoprolol/metoprolol+felodipine) Eligard®(2) 51.5 36.8 40.2 Urorec® (silodosin) 31.1 31.4 (0.8) Livazo® (pitavastatin) 2
Slide 5: A diversified product portfolio
A diversified product portfolio Other corporate products 9.6% (excluding OTC) Drug for rare disease 29.2% Livazo® 2.6% Zanipress® 2.2% Urorec® 3.5% Eligard® 5.8% Seloken®/Logimax® 5.4% Zanidip® 7.5% OTC 17.4% Pharmaceutical chemicals 2.8% Other revenue 0.4% Subsidiaries’ local product portfolios 13.
Slide 6: Composition of revenue by geography
Composition of revenue by geography (million Euro) 1H 2022 1H 2021 Change % Italy 143.8 135.7 6.0 U.S.A. 118.5 79.9 48.4 France 84.7 75.1 12.8 Germany 82.2 74.2 10.8 Spain 69.3 55.9 24.0 Portugal 27.2 22.3 22.1 Turkey 35.3 35.1 (0.4) Russia, other CIS countries and Ukraine 50.3 33.3 51.1 Other CEE c
Slide 7: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical¹ revenue Other international revenue (2) 12.5% North Africa 2.2% Italy 16.6% Other CEE 7.2% France 9.8% Other W. Europe 7.5% Germany 9.5% Portugal 3.1% Spain 8.0% Turkey 4.1% USA 13.7% Russia, other CIS and Ukraine 5.8% Data: First Half 2022 Results Pharmaceu
Slide 8: First half 2022 results
First half 2022 results (million Euro) 1H 2022 1H 2021 Change % Revenue 892.5 770.8 15.8 Gross Profit 624.6 564.9 10.6 as % of revenue 70.0 73.3 NEW Adjusted Gross Profit(1) 641.5 564.9 13.6 as % of revenue 71.9 73.3 SG&A Expenses 266.8 230.8 15.6 as % of revenue 29.9 29.9 R&D Expenses 99.3 81.1 22.
Slide 9: First half 2022 results – Details
First half 2022 results – Details Reported Net Income impacted by IFRS 3 adjustments related to EUSA Pharma acquisition, FX volatility and monetary losses from IAS 29 Reconciliation of Reported Net income to Adjusted Net income (1) 1H 2022 1H 2021 Change % Net income of €151.4 million reflects: (mil
Slide 10: First half 2022 results – Operating Segments
First half 2022 results Operating Segments REVENUE EBITDA (1) Treatments for rare diseases 29.2% Treatments for rare diseases 32.9% Specialty and primary care 70.8% Specialty and primary care 67.1% Margin on Sales: Treatments for rare diseases: EBITDA (1) 42.3% Specialty and primary care: EBITDA (1)
Slide 11: First half 2022 cash flow
First half 2022 cash flow (million Euro) 1H 2022 1H 2021 Change EBITDA (1) 334.9 300.5 34.4 Movements in working capital (17.8) (13.6) (4.2) Changes in other assets & liabilities (11.1) (14.0) 2.9 Interest received/(paid) (8.1) (9.0) 0.9 Income Tax Paid (42.5) (46.6) 4.1 Other (29.3) (4.0) (25.3) Ca
Slide 12: Net financial position
Net financial position 30 JUNE 2022 31 DEC 2021 Change (million Euro) Cash and cash equivalents 373.8 244.5 129.3 Short-term debts to banks and other lenders (74.3) (8.7) (65.6) Loans and leases – due within one year(1) (301.0) (221.5) (79.5) Loans and leases – due after one year(1) (1,438.2) (750.8
Slide 13: 2022 Financial projections – Key assumptions
2022 Financial projections – Key assumptions • Expect overall Revenue at top end of guidance range (slightly favourable FX in 2H, assumes EURRUB FY average @75): - SPC to grow low to mid single digit, reflecting stronger 2H comparable and expected softening of demand in Russia; Eligard >€100 million
Slide 14: 2022 Financial projections
2022 Financial projections Financial targets for 2022 confirmed, with revenue expected at top end of the range FY 2021 FY 2022 Changes Actual Target Revenue 1,580 1,720 - 1,780 +10.8% EBITDA(1) 602.3 630 - 660 margin on +7.1% 38.1% +/-37% sales Adjusted Net Income(2) 424.6 450 - 470 +8.3% margin on
Slide 15: Appendix
Appendix 4 & RECORDATI
Slide 16: First half 2022 results – Details
First half 2022 results – Details Reconciliation of Net income to EBITDA(1) (million Euro) 1H 2022 1H 2021 • Non-recurring costs of €26.4 million, of which Net income 151.4 207.1 around €15 million from EUSA Pharma Income taxes 42.7 28.4 acquisition Financial income/(expenses), net 38.1 14.9 Non-rec
Slide 17: Questions & Answers
Questions & Answers NY & RECORDATI
Slide 18: 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 Luigi La Corte declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Fina