Slide 1: 2012 First quarter results
2012 First quarter results 8 MAY 2012
Slide 2: First quarter 2012 highlights
First quarter 2012 highlights A good quarter • Revenue € 219.6 million, up 11.0%. • Operating income (EBIT) € 47.6 47 6 million or 21 7% of sales 21.7% sales, up 7 5% 7.5%. • Net income € 33.8 million or 15.4% of sales, up 7.5%. • Phase III trials started for REC 0482, 0482 the new innovative BPH tr
Slide 3: Composition of revenue
Composition of revenue New markets and new products drive growth (million Euro) 1Q 2012 1Q 2011 Ch Change % Italy 62.6 60.6 3.2 France 32.2 32.6 (1.5) Germany 16.1 16.0 0.9 Turkey 15.6 8.1 93.0 Spain 89 8.9 83 8.3 70 7.0 Portugal 8.6 9.1 (4.7) United Kingdom 1.6 2.1 (22.5) Oh W Other Western Europea
Slide 4: A growing presence in Eastern Europe and Turkey
A growing presence in Eastern Europe and Turkey Spain 4.2% Portugal 4.1% Turkey 7.3% UK 0.8% Germany 7.6% Other W. European countries 2.3% Russia, other CEE 8.5% France 15.2% Other international sales 20.5% (sales to licensees and exports) Italy 29.5% Data: 1Q 2012 Pharmaceutical revenue € 212.1 m 4
Slide 5: Main product sales
Main product sales Corporate products including orphan drugs now account for 42.5% of revenue (million Euro) 1Q 2012 1Q 2011 Change % Zanidip® (lercanidipine) 31.3 35.5 (11.9) ® ((lercanidipine+enalapril) p Zanipress p p ) 12.4 8.9 40.2 Urorec® (silodosin) 7.6 3.8 99.1 Livazo® (pitavastatin) 3.1 ‐ n
Slide 6: A richer product portfolio
A richer product portfolio Urorec 3.5% Other corporate products 9.9% Zanipress 5.7% Orphan drugs 9.2% Zanidip 14.2% Pharmaceutical chemicals 3.4% Subsidiaries’ local product Other revenue 1.8% portfolios 52.3% Entact®/Elopram® 5% (escitalopram/citalopram) ‐ Italy Tergynan® ‐ Russia & CIS, France exp
Slide 7: First quarter 2012 results
First quarter 2012 results Good sales and earnings growth (million Euro) 1Q 2012 1Q 2011 Change % Revenue 219.6 197.8 11.0 Gross Profit 141.6 130.9 8.1 as % of revenue 64 5 64.5 66 2 66.2 SG&A Expenses 77.3 70.9 9.0 as % of revenue 35.2 35.8 R&D Expenses 15.7 15.6 0.6 as % of revenue 7.2 7.9 Other I
Slide 8: Financial position and Shareholders' equity
Financial position and Shareholders’ equity ( ll Euro)) (million 31 Mar 2012 31 Dec 2011 Change Cash and short‐term financial 113.3 105.2 8.1 investments Bank overdrafts and short‐term loans (21.6) (13.6) (8.0) Loans – due within one year (10 0) (10.0) (11 6) (11.6) 16 1.6 Loans – due after one year
Slide 9: Financial projections
Financial projections Challenging 2012 targets 2011 2012 (million Euro) Actuall Targets Revenue 762.0 810‐830 Operating income (EBIT) 163.5 160‐170 Net Income 116.4 115‐120 9
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