Slide 1: First half financials
Conference call, 28 July 2009 2009 First half financials
Slide 2: First Quarter 2009 Highlights
FIRST QUARTER 2009 HIGHLIGHTS • Revenue € 379.3 million, up 8.9%, international sales grow by 12.5% • Operating income (EBIT) € 82.5 million, up 8.8% • Net Income € 57.7 million, up 10.1% • Acquisition of Herbacos-Bofarma in the Czech Republic • Almirall to co-market silodosin in Spain • Zanextra® (
Slide 3: Composition of Revenue
COMPOSITION OF REVENUE (million Euro) 1H 2009 1H 2008 Change % Italy 105.9 103.3 2.5 France 71.6 70.1 2.2 Germany 29.6 26.0 13.9 Portugal 21.2 23.2 (8.4) Spain 14.4 13.4 6.9 United Kingdom 5.6 5.4 2.4 Other European countries 3.4 2.4 41.5 Russia, Turkey, other CEE countries 25.5 9.7 n.s. Other inter
Slide 4: Composition of Pharmaceutical Revenue
COMPOSITION OF PHARMACEUTICAL REVENUE Portugal 5.8% Spain 3.9% Germany 8.1% UK 1.5% Other European countries 0.9% Russia, Turkey, other CEE 7.0% France 19.6% Other international sales 17.6% Pharmaceutical Italy 29.1% Orphan Europe 6.5% chemicals 3.7% Pharmaceuticals 96.3% Data: First half 2009 Total
Slide 5: Lercanidipine Sales
LERCANIDIPINE SALES (million Euro) 1H 2009 1H 2008 Change % DIRECT SALES 73.4 66.3 10.7 SALES TO LICENSEES 44.1 37.2 18.5 TOTAL LERCANIDIPINE SALES 117.5 103.5 13.5 4
Slide 6: First Half 2009 Results
FIRST HALF 2009 RESULTS (million Euro) 1H 2009 1H 2008 Change % Revenue 379.3 348.2 8.9 Gross Profit 258.0 237.0 8.9 as % of revenue 68.0 68.1 SG&A Expenses 137.8 132.3 4.1 as % of revenue 36.3 38.0 R&D Expenses 33.7 28.0 20.4 as % of revenue 8.9 8.0 Other Income (Expense), net (4.1) (0.8) n.s. as %
Slide 7: Second Quarter 2009 Results
SECOND QUARTER 2009 RESULTS (million Euro) 2Q 2009 2Q 2008 Change % Revenue 195.6 176.3 10.9 Gross Profit 134.5 120.8 11.3 as % of revenue 68.8 68.5 SG&A Expenses 72.0 69.0 4.4 as % of revenue 36.8 39.1 R&D Expenses 18.4 14.6 25.9 as % of revenue 9.4 8.3 Other Income (Expense), net (2.3) 0.4 n.s. as
Slide 8: Net Financial Position and Shareholder's Equity
NET FINANCIAL POSITION AND SHAREHOLDER’S EQUITY (million Euro) 30 Jun 2009 31 Dec 2008 Change Cash and short-term financial 65.6 95.0 (29.4) investments Bank overdrafts and short-term (80.4) (90.8) 10.4 loans Loans – due within one year (2.7) (2.2) (0.5) Loans – due after one year (83.5) (82.9) (0.5
Slide 9: 2009 Targets
2009 TARGETS 2008 2009 Actual Targets (million Euro) Revenue 689.6 ~750 R&D expenses 58.9 ~75 Operating income (EBIT) 144.7 ~155 Net Income 100.4 ~105 8
Slide 10: 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