Dermapharm Holding Se · XETR:DMP
Dermapharm — Q3 2023 Earnings Presentation
21 slides from Dermapharm's earnings presentation, Nov 15, 2023
Slide 1: Investors' and Analysts' Conference Call Q3 2023
INVESTORS’ AND ANALYSTS’ CONFERENCE CALL Q3 2023 Grünwald, 15 November 2023
Slide 2: Agenda
AGENDA Q3 2023 1. Financial figures Q3 2023 2. Outlook 2023 3. Q&A 2
Slide 3: Financial figures Q3 2023
1 Financial figures Q3 2023 3
Slide 4: Dermapharm Group
Dermapharm Group Continuous growth with strong contribution by Arkopharma and remarkable organic growth of the existing portfolio Total Revenue EBITDA1 Significant revenue growth of 18.0% to €m €m, adjusted €866.6m, driven by 32.6% ▪ Acquisitions, especially Arkopharma-Group +18.0% YoY EBITDA (conso
Slide 5: Key drivers of revenue and adj. EBITDA development
Key drivers of revenue and adj. EBITDA development Arkopharma is the driver of revenue and EBITDA growth supported by organic growth of the existing portfolio Parallel import business Total Revenue EBITDA1 €m 866.6 €m, adjusted Other healthcare products +7 +26 Branded pharmaceuticals 734.3 +168 182.
Slide 6: EBITDA adjustments
Dermapharm Group EBITDA adjustments €m Q3 2022 Q3 2023 PPA-effects 3.4 13.2 Arkopharma, (Q3 2022: Cernelle, Candoro ethics (C³)) Acquisition costs 3.9 7.7 Arkopharma, Candoro ethics, Wellster, Montavit, (Q3 2022: primarily Corat, Cernelle, Candoro ethics (C³)) Deconsolidation - 7.2 fitvia, bellavia,
Slide 7: Branded pharmaceuticals
Branded pharmaceuticals Strong organic growth partially compensates for phasing-out of vaccine production; slightly lower profitability driven by exceptional labour cost increases Total Revenue EBITDA1 Lower revenues of €395.7m (minus 9.6% €m €m, adjusted over Q3 2022), following 49.6% ▪ high demand
Slide 8: Other healthcare products
Other healthcare products Arkopharma driving revenue and margin trend; higher profitability is largely attributable to better GM partially offset by higher personnel expense ratio Total Revenue EBITDA1 Significant revenue growth by >100% to €m €m, adjusted €287.9m, driven by ▪ Initial consolidation
Slide 9: Parallel import business
Parallel import business YTD Q3 2023 trading characterised by favourable market trends, albeit an increase in rebates to SHI companies and unfavourable changes in product mix Total Revenue EBITDA1 Revenues increased organically by 2.6% €m €m, adjusted to €182.9m, driven by 1.7% ▪ a high product avai
Slide 10: Earnings before tax (Group EBT)
Earnings before tax (Group EBT) Lower EBT reflects higher interest cost in connection with the new syndicated loan Earnings before tax (EBT)1 ▪ Unadjusted EBT decreases by 36.3% to €m €101.7m translating to a margin of 11.7%. 21.7% The decline in profitability is mainly EBT attributable to Margin ▪
Slide 11: Strong cash flows and cash conversion
Strong cash flows and cash conversion Operating CF declines by €9.9m to €152.3m, mainly due to higher tax payments, cash conversion decreased to 62.5% of adj. EBITDA vs. 9M 2022 Cash flow and cash conversion1 ▪ CF from operating activities mainly €m and in % of Group EBITDA influenced by Cash ▪ slow
Slide 12: Balance Sheet of Dermapharm Group
Balance Sheet of Dermapharm Group Assets and liabilities impacted by the (financing of the) acquisition of Arkopharma; leverage ratio currently below 3x (adj.) EBITDA Balance sheet as of 30 September 2023 ▪ Total assets increased to €2,159m €m (31 December 2022: €1,413m) ▪ Increase of non-current as
Slide 13: Outlook 2023
LV 2 Outlook 2023 a
Slide 14: Outlook 2023
Outlook 2023 The positive Q3 2023 revenue and (adj.) EBITDA trading should translate to an achievement in FY23 in the higher range of the outlook ▪ Management confirms the existing revenue and EBITDA outlook. ▪ The favourable trading development of Arkopharma and the strong organic growth of the exi
Slide 15: Backup
3 BACKUP Image: Günther Fotodesign 15
Slide 16: Modified segment definition from Q2 2023 onwards
BACKUP - Modified segment definition to enhance customer and sales focus and further increase transparency from Q2 2023 onwards Other healthcare products Parallel import business Segment definition Branded pharmaceuticals Branded pharmaceuticals and other Herbal extracts Parallel import business hea
Slide 17: Modified segment definition: impact on Q3 2023 revenue
Modified segment definition Impact on Q3 2023 total revenue Old Q3 2023 New Q3 2023 Total Revenue €m Parallel import business Parallel import business Herbal extracts Other healthcare products Branded pharmaceuticals & Branded pharmaceuticals other healthcare products 866.6 866.6 -4.0 186.9 182,9 +4
Slide 18: Modified segment definition: impact on Q3 2023 adjusted EBITDA
Modified segment definition Impact on Q3 2023 adjusted EBITDA EBITDA1 Old Q3 2023 New Q3 2023 €m, adjusted Parallel import business Parallel import business Herbal extracts Other healthcare products Branded pharmaceuticals & Branded pharmaceuticals other healthcare products Reconciliation Reconcilia
Slide 19: Financial calendar
Financial calendar 2023 Annual Report 2022 CSR Report 2022 Analysts‘ and Half-year Investors‘ Call Annual General Financial Report Quarterly Statement FY 2022 Meeting 2023 as of 30 June 2023 as of 30 September 2023 2023 28 March 14 June 29 August 15 November 14 March 15 May 16 August 12 October 2024
Slide 20: Disclaimer
Disclaimer This publication includes statements, estimates, opinions and projections with respect to the anticipated future performance of Dermapharm Holding SE (together with its consolidated subsidiaries, “Dermapharm”) and such statements, estimates, opinions and projections (“Forward-Looking Stat
Slide 21: For information, please contact
For information, please contact Britta Hamberger Investor Relations & Corporate Communications Dermapharm Holding SE E-Mail: ir@dermapharm.com Phone: +49 (0) 89 641 86 233 Dermapharm FY 2021 21