Slide 1: 2021 First Half Results
2021 First Half Results Milano, 29 July 2021
Slide 2: First half 2021 highlights
First half 2021 highlights • As expected, following 2020 stocking patterns, Q2 results were robust across both BUs: - SPC rebounding following gradual easing of restrictions - good contribution from Eligard, with transition from Astellas progressing ahead of schedule - continued double digit growth
Slide 3: Eligard transition moving ahead of plan
Eligard® transition moving ahead of plan • First half 2021 reported revenue of €36.8 million* trending above expectations thanks to earlier transition of distribution from Astellas • This marks another successful integration with 20 Marketing Authorization Transfers completed before the end of June
Slide 4: Signifor & Signifor LAR sales growth continues in 1H 2021; Isturisa launch on track
Signifor® & Signifor LAR® sales growth continues in 1H 2021 Isturisa® launch on track in US, EU and JP Signifor® and Signifor® LAR commercialization on track • 1H 2021 reported Net Revenue of ~€38 million • Growth of in-market sales at constant exchange rate estimated to be >8% vs 2020* • US Net Rev
Slide 5: Main products sales
Main products sales Corporate products including drugs for rare diseases account for 70.8% of revenue (million Euro) 1H 2021 1H 2020 Change % Zanidip® (lercanidipine) 79.1 82.6 (4.2) Seloken®/Seloken® ZOK/Logimax® 49.7 52.4 (5.2) (metoprolol/metoprolol+felodipine) Eligard®(1) 36.8 - n.a. Urorec® (si
Slide 6: A diversified product portfolio
A diversified product portfolio Other corporate products 9.5% (excluding OTC) Livazo® 2.8% Drugs for rare diseases 23.5% Zanipress® 2.8% Urorec® 4.1% Eligard® 4.8% Seloken®/Logimax® 6.4% OTC 17.3% Zanidip® 10.3% Pharmaceutical chemicals 3.3% Subsidiaries’ local product Other revenue 0.8% portfolios
Slide 7: Composition of revenue by geography
Composition of revenue by geography (million Euro) 1H 2021 1H 2020 Change % Italy 135.7 144.5 (6.1) France 75.1 73.4 2.2 Germany 74.2 67.4 10.0 Spain 55.9 43.0 29.9 Portugal 22.3 22.3 - Turkey 35.1 44.8 (21.5) Russia, other CIS countries and Ukraine 33.3 46.1 (27.8) U.S.A. 79.9 60.1 33.0 Other CEE c
Slide 8: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical* revenue Other international sales 14.8% (sales to licensees, exports, sales in ROW) Italy 18.2% North Africa 2.6% Other CEE 7.2% France 10.1% Other W. Europe 6.7% Portugal 3.0% Germany 10.0% Spain 7.5% Turkey 4.7% Russia, other CIS and U.S.A. 10.7% Ukraine 4
Slide 9: First half 2021 results
First half 2021 results (million Euro) 1H 2021 1H 2020 Change % Revenue 770.8 760.2 1.4 Gross Profit 564.9 548.4 3.0 as % of revenue 73.3 72.1 SG&A Expenses 230.8 210.9 9.5 as % of revenue 29.9 27.7 R&D Expenses 81.1 71.2 13.9 as % of revenue 10.5 9.4 Other Income (Expense), net (2.6) (4.8) (46.5) a
Slide 10: First half 2021 results
First half 2021 results Operating Segments EBIT Treatments for rare diseases 28.0% Revenue Treatments for rare diseases 23.5% Specialty & primary care 72.0% EBITDA Treatments for rare diseases 28.8% Specialty & primary care 76.5% Margin on sales: Specialty & primary Treatments for rare diseases: EBI
Slide 11: 1H Cash flow
1H Cash flow (million Euro) 1H 2021 1H 2020 Change EBITDA 300.5 311.1 (10.6) Movements in working capital (13.6) (50.6) 37.0 Changes in other assets & liabilities (14.0) (16.3) 2.3 Interest received/(paid) (9.0) (8.5) (0.5) Income Tax Paid (46.6) (32.1) (14.5) Other (4.0) 0.7 (4.7) Cashflow from Ope
Slide 12: Net financial position
Net financial position 30 June 2021 31 Dec 2020 Change (million Euro) Cash and cash equivalents 271.9 188.2 83.7 Short-term debts to banks and other lenders (29.1) (12.6) (16.5) Loans and leases – due within one year (222.8) (270.2) 47.4 Loans and leases – due after one year(1) (887.4) (771.2) (116.
Slide 13: FY 2021 Financial projections - Update
FY 2021 Financial projections - Update Guidance range for FY 2021 confirmed 2021 Targets Assumptions Latest view • Revenue €1570-1620 million (growth around 10%): • Revenue on track, with some headwind due to • Continued adverse FX of roughly -2% weak Cough & cold market: • Specialty & Primary Care
Slide 14: 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