Slide 1: 2022 First Quarter Results
2022 First Quarter Results Milan, May 10th 2022
Slide 2: First quarter 2022 key highlights
First quarter 2022 key highlights • Very strong revenue and bottom-line performance in the quarter, with growth rates vs prior year slightly flattered by soft Q1 2021 comparable, and continued strong cash generation • Revenue of €419.4 million (+9.0% vs PY or +10.9% at CER) reflects continued recove
Slide 3: EUSA Pharma acquisition
EUSA Pharma acquisition Further strengthens our Rare Diseases business, with strong capabilities and a portfolio of assets with solid growth trajectory, providing platform for potential further expansion and confirming our commitment to deliver treatments that address serious unmet medical needs TRA
Slide 4: Main products sales
Main products sales (million Euro) 1Q 2022 1Q 2021 Change % Zanidip® and Zanipress® (lercanidipine+enalapril)(1) 43.3 53.2 (18.7) Seloken®/Seloken® ZOK/Logimax® 24.0 24.8 (3.2) (metoprolol/metoprolol+felodipine) Eligard®(2) 23.9 16.8 42.1 Urorec® (silodosin) 14.6 16.0 (8.5) Livazo® (pitavastatin) 12
Slide 5: A diversified product portfolio
A diversified product portfolio Other corporate products 9.9% (excluding OTC) Livazo® 2.9% Drug for rare disease 25.3% Zanipress® 2.3% Urorec® 3.5% Eligard® 5.7% Seloken®/Logimax® 5.7% Zanidip® 8.0% OTC 19.1% Pharmaceutical chemicals 3.1% Other revenue 0.5% Subsidiaries’ local product portfolios 14.
Slide 6: Composition of revenue by geography
Composition of revenue by geography (million Euro) 1Q 2022 1Q 2021 Change % Italy 74.7 71.0 5.2 U.S.A. 52.6 37.0 42.2 France 40.4 36.1 12.1 Germany 38.3 36.4 5.3 Spain 33.3 26.1 27.4 Portugal 12.3 11.1 11.1 Turkey 14.7 20.2 (27.2) Russia, other CIS countries and Ukraine 23.1 17.1 35.2 Other CEE coun
Slide 7: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical¹ revenue Other international revenue (2) 12.6% North Africa 2.5% Italy 18.4% Other CEE 7.5% France 9.9% Other W. Europe 6.3% Portugal 3.0% Germany 9.4% Spain 8.2% Turkey 3.6% USA 12.9% Russia, other CIS and Ukraine 5.7% Data: First quarter 2022 Results Pharma
Slide 8: First quarter 2022 results
First quarter 2022 results (million Euro) 1Q 2022 1Q 2021 Change % Revenue 419.4 384.8 9.0 Gross Profit 303.9 280.8 8.2 as % of revenue 72.5 73.0 SG&A Expenses 121.7 113.4 7.3 as % of revenue 29.0 29.5 R&D Expenses 43.7 41.5 5.3 as % of revenue 10.4 10.8 Other Income (Expense), net (7.2) (1.0) n.m.
Slide 9: First quarter 2022 results: Operating Segments
First quarter 2022 results Operating Segments REVENUE EBITDA (1) Treatments for rare diseases 25.3% Treatments for rare diseases 30.8% Specialty and primary care 74.7% Specialty and primary care 69.2% Margin on Sales: Treatments for rare diseases: EBITDA 47.4% Specialty and primary care: EBITDA 36.0
Slide 10: First quarter 2022 cash flow
First quarter 2022 cash flow (million Euro) 1Q 2022 1Q 2021 Change EBITDA 163.0 150.0 13.0 Movements in working capital (28.4) (15.3) (13.1) Changes in other assets & liabilities (2.4) (8.1) 5.7 Interest received/(paid) (2.2) (2.2) 0.0 Income Tax Paid (10.6) (6.3) (4.3) Other (6.0) (4.0) (2.0) Cash
Slide 11: Net financial position
Net financial position 31 MAR 2022 31 DEC 2021 Change (million Euro) Cash and cash equivalents 261.4 244.5 16.9 Short-term debts to banks and other lenders (15.0) (8.7) (6.3) Loans and leases – due within one year(1) (250.6) (221.5) (29.1) Loans and leases – due after one year(1) (1,395.3) (750.8) (
Slide 12: 2022 Financial projections – Key assumptions
2022 Financial projections – Key assumptions 2022 Targets Latest view • Revenue excl EUSA Pharma to grow mid single • Expect overall Revenue to track in line with Plan, digit, reflecting adverse FX of approx. -1%: with slightly higher adverse FX (subject to RUB): • Specialty & Primary Care to grow l
Slide 13: 2022 Financial projections
2022 Financial projections 2022 targets unchanged FY 2021 FY 2022 Changes Actual Target Revenue 1,580 1,720 - 1,780 +10.8% EBITDA(1) 602.3 630 - 660 margin on +7.1% 38.1% +/-37% sales Adjusted Net Income(2) 424.6 450 - 470 +8.3% margin on 26.9% +/-26% sales 1) Net income before income taxes, financi
Slide 14: Our priorities reflect continuation of successful strategic approach
Our priorities reflect continuation of successful strategic approach • SPC to deliver low to mid single digit annual growth, driven by Eligard® and OTC and market recovery post pandemic, with stable diversified legacy RX portfolio Drive continued organic • RRD to deliver double digit growth, driven
Slide 15: Questions & Answers
Questions & Answers & RECORDATI
Slide 16: 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