Recordati S.p.a. · MIL:REC
Recordati — J.P. Morgan Healthcare Conference 2025
14 slides from Recordati's conference presentation, Jan 15, 2025
Slide 1: Recordati: Unlocking the Full Potential of Life
RECORDATI «UNLOCKING THE FULL POTENTIAL OF LIFE» J.P. Morgan Healthcare Conference Rob Koremans, CEO January 15, 2025
Slide 2: Company Declarations, Disclaimers and Profile
COMPANY DECLARATIONS, DISCLAIMERS AND PROFILE Statements contained in this presentation, other than historical facts, are “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on
Slide 3: Recordati: A Top Tier Value Creator, Serving Patients Globally
RECORDATI: A TOP TIER VALUE CREATOR, SERVING PATIENTS GLOBALLY KEY FACTS OVERVIEW OF THE BUSINESS – 9M 2024 ▪ Founded: 1926 in Correggio (IT) Specialty & ▪ Fully integrated operations across R&D, Primary Care manufacturing, commercialization and licensing ▪ Employees: > 4,450 65% of Revenue ▪ Global
Slide 4: Delivering High Single-Digit Growth, Consistently on Target, With Average ROIC of 15-20%
DELIVERING HIGH SINGLE-DIGIT GROWTH, CONSISTENTLY ON TARGET, WITH AVERAGE ROIC OF 15-20% OVER LAST DECADE Includes ~€ 150 Group Revenue 2014-2025 - actual and guidance contribution of million Euro Enjaymo® CAGR +8.9% > 2,600 2,300-2,340 2,082 1,853 Double digit 1,580 organic 1,482 1,449 growth 1,288
Slide 5: Unique and Resilient Business Model Delivering Consistent Profitable Growth
UNIQUE AND RESILIENT BUSINESS MODEL DELIVERING CONSISTENT PROFITABLE GROWTH DIVERSIFIED FINANCIALLY-FOCUSED DE-RISKED ▪ Unique combination of resilient, ▪ Strong focus on financial ▪ Established franchises with no cash flow generative Specialty & performance, driving robust material loss of exclusiv
Slide 6: Value Creating BD / M&A to Complement Organic Growth
VALUE CREATING BD / M&A TO COMPLEMENT ORGANIC GROWTH Long track record of successful execution, with fast and effective integration Total 36 deals € 3.5B+ invested ~50% of growth from BD / M&A RARE DISEASES ▪ Ex-US/China rights # 8 DEALS to Ledaga EUSA ▪ Cystagon Orphan Lundbeck ▪ Signifor, LAR, Ist
Slide 7: Accelerated Growth Journey While Maintaining a Consistent Strategy
ACCELERATED GROWTH JOURNEY WHILE MAINTAINING A CONSISTENT STRATEGY ▪ International expansion started in 1999, with initial focus on building SPC platform across Europe ▪ Entered Rare Diseases with acquisition of Orphan Europe (2007) CONSISTENT STRATEGY Drive organic growth ▪ Continued building / str
Slide 8: Specialty & Primary Care: European Partner of Choice
SPECIALTY & PRIMARY CARE: EUROPEAN PARTNER OF CHOICE, DELIVERING SUSTAINABLE MID-SINGLE DIGIT ORGANIC GROWTH Revenue 9M 2024 vs 9M 2023* ORGANIC GROWTH DRIVEN BY COMMERCIAL EXCELLENCE AND POSITIVE MARKET TRENDS million Euro +11.1% + 6.5% ▪ Diversified portfolio of >400 brands across Urology, LFL(1)
Slide 9: Rare Diseases: Global Business With Substantial Further Growth Potential
RARE DISEASES: GLOBAL BUSINESS WITH SUBSTANTIAL FURTHER GROWTH POTENTIAL Revenue 9M 2024 vs 9M 2023* DOUBLE DIGIT GROWTH DRIVEN BY SIGNIFICANT million Euro UNMET NEED AND GEOGRAPHIC EXPANSION +14.1% + 14.5% ▪ Portfolio of >20 orphan/ ultra-orphan products at CER across Endocrinology, Oncology and Me
Slide 10: Enjaymo Further Enhances Global Rare Diseases Business
ENJAYMO FURTHER ENHANCES GLOBAL RARE DISEASES BUSINESS Integration on track with MAA transferred in U.S. and EU / Japan expected imminently ATTRACTIVE PRODUCT PROFILE KEY FINANCIALS ▪ Only approved targeted product to treat cold agglutinin disease (CAD), a rare B- US cell lymphoproliferative disorde
Slide 11: Rare Diseases: Key Strategic Pillars for Continued Double-Digit Growth
RARE DISEASES: KEY STRATEGIC PILLARS FOR CONTINUED DOUBLE-DIGIT GROWTH Endocrinology Hema-Oncology Metabolic R&D / BD pasireotide dinutuximab beta in in PBH Ewing sarcoma ▪ Isturisa®: Strong new ▪ Qarziba®: Broader usage ▪ Carbaglu®: Stabilize ▪ Targeted de-risked patient uptake thanks to and geogra
Slide 12: Five Key Growth Drivers With Total Potential Peak Sales of > €1.1 Billion
FIVE KEY GROWTH DRIVERS WITH TOTAL POTENTIAL PEAK SALES OF > € 1.1 BILLION, AND OPPORTUNITIES TO GO BEYOND PRODUCT LTM SALES* (€ M) PEAK SALES TARGET ESTIMATE (€ M)(1) ADDITIONAL OPPORTUNITY BEYOND PYS Included in peak sales • Favorable market dynamics, suggesting 190 400 • Cushing syndrome in EU, U
Slide 13: 2024 Achievements / 2025 Outlook
2024 ACHIEVEMENTS / 2025 OUTLOOK 2024 2025 ▪ On track to meet upgraded financial ▪ Continued momentum across both targets for the year*, with strong businesses to drive revenue >€ 2.6B FINANCIAL growth across both business units ▪ Strong cash flow generation takes PERFORMANCE ▪ Sustained strong EBIT
Slide 14: Thank You
THANK YOU 14