Slide 1: First half results
2015 First half results CONFERENCE CALL – 29 JULY 2015
Slide 2: First half 2015 highlights
First half 2015 highlights • Revenue € 539.1 million, up 6.2% • EBITDA € 163.9 million or 30.4% of sales, up 15.5% • Operating income (EBIT) € 145.2 million or 26.9% of sales, up 19.2% • Net income € 103.2 million or 19.2% of sales, up 24.3% • Net debt € 139.9 million, a reduction of € 46.2 million
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 59.3% of revenue (million Euro) 1H 2015 1H2014 Change % Zanidip® (lercanidipine) 63.9 58.4 9.4 Zanipress® (lercanidipine+enalapril) 34.3 31.2 9.9 Urorec® (silodosin) 33.0 28.4 16.1 Livazo® (pitavastatin) 13.4 12.4 7.
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 13.5% Drugs for rare diseases 13.7% Livazo 2.5% Urorec 6.1% OTC 17.6% Zanipress 6.4% Zanidip 11.9% Subsidiaries’ local product portfolios 23.6% Pharmaceutical chemicals 3.5% Methadone ‐ France 3% Other revenue 1.2% Ortoton® (methocarbamol) ‐ G
Slide 5: Composition of revenue by geography
Composition of revenue by geography Solid volume growth (million Euro) 1H 2015 1H 2014 Change % Italy 112.7 119.7 (5.9) France 55.5 55.3 0.4 Germany 45.3 40.5 11.8 Turkey 40.6 33.6 20.6 U.S.A. 39.8 27.7 43.8 Spain 34.8 33.8 3.1 Russia, other CIS countries and Ukraine 34.6 39.3 (11.9) North Africa 23
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 16.5% (sales to licensees and exports) Italy 21.6% Other W. Europe 2.5% Other CEE 2.9% Portugal 3.7% North Africa 4.6% France 10.7% Russia, other CIS and Ukraine 6.7% Germany 8.7% Spain 6.7% U.S.A. 7.6% Turkey 7.8% Data: Firs
Slide 7: First half 2015 results: Further margin growth
First half 2015 results Further margin growth (million Euro) 1H 2015 1H 2014 Change % Revenue 539.1 507.6 6.2 Gross Profit 366.8 336.6 9.0 as % of revenue 68.0 66.3 SG&A Expenses 182.1 173.6 4.9 as % of revenue 33.8 34.2 R&D Expenses 37.9 40.7 (6.8) as % of revenue 7.0 8.0 Other Income (Expense), ne
Slide 8: First half 2015 results: Operating segments
First half 2015 results Operating segments Revenue EBIT Treatments for rare diseases 13.7% Treatments for rare diseases 21.9% Primary & specialty care Primary & specialty care 86.3% 78.1% EBIT margin on sales: Treatments for rare diseases, 42.9% Primary & Specialty care, 24.4% 8
Slide 9: Financial position and Shareholders' equity
Financial position and Shareholders’ equity (million Euro) 30 Jun 2015 31 Dec 2014 Change Cash and short‐term financial 186.8 137.0 49.8 investments Bank overdrafts and short‐term loans (10.0) (8.6) (1.4) Loans – due within one year (29.9) (28.3) (1.6) Loans – due after one year (286.8) (286.2) (0.6
Slide 10: Financial projections: 2015 targets
Financial projections 2015 targets 2014 2015 (million Euro) Actual Targets Revenue 987.4 ± 1,040 Operating income 231.0 ± 270 (EBIT) Net Income 161.2 ± 190 10
Slide 11: 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