Hikma Pharmaceuticals Plc · LSE:HIK
Hikma Pharmaceuticals — FY2024 Earnings Presentation
19 slides from Hikma Pharmaceuticals's earnings presentation, 2025
Slide 1: Hikma Pharmaceuticals 2024 Full Year Results
Better health. Within reach. Every day. Hikma Pharmaceuticals 2024 Full Year Results
Slide 2: Strong 2024 financial performance
Strong 2024 financial performance $3,156m Core1 revenue Double-digit core $719m revenue growth, Core operating profit ahead of upgraded 224¢ expectations, and Core basic earnings per share core operating profit $824m in line with upgraded Core EBITDA guidance 16.9% ROIC2 1. Core results throughout t
Slide 3: A year of excellent strategic progress to drive future growth
A year of excellent strategic progress to drive future growth Strengthened R&D functions Investment to expand and diversify portfolio • Addition of Zagreb R&D centre • Strengthened long-term growth prospects of Empowering our people – identified optimisation opportunities for Injectables through Xel
Slide 4: Our strategic priorities to drive growth (2025-2026)
Our strategic priorities to drive growth 2026 2025 • R&D: integrate Zagreb centre, increase number of ready-to-use projects and gain approval for reformulated vancomycin RTU • Operations: initial investment in Bedford facility; Morocco and Algeria sites fully operational from 2026 • Commercial: bene
Slide 5: Our strategic priorities to drive growth (2027-2029)
Our strategic priorities to drive growth 2029 2028 2027 • R&D: ambition to become leader in ready-to-use formulations • Operations: Bedford facility operational, with added aseptic bag and lyophilisation capacity • Commercial: building momentum in 503B compounding1, increasing contribution from CMO,
Slide 6: Finance
Finance Khalid Nabilsi, Chief Financial Officer
Slide 7: Group financial highlights
Group financial highlights 2023 2024 % change Core1 revenue $2,875 million $3,156 million +10% Core gross profit $1,407 million $1,448 million +3% Core operating profit $707 million $719 million +2% Core EBITDA $810 million $824 million +2% Core profit attributable to shareholders $492 million $495
Slide 8: Injectables
Injectables Core revenue and core operating Core revenue and core operating profit performance over 10 years profit performance for 2024 100.0% 1200 Revenue Core revenue 90.0% 2024 core revenue $24 million revenue contribution from the Xellia acquisition 1000 Core operating profit Core operating mar
Slide 9: Branded
Branded Core revenue and core operating Core revenue and core operating profit performance over 10 years profit performance for 2024 769 100.0% Core revenue 714 Revenue Core operating profit 669 691 90.0% 2024 core revenue Core operating margin 613 $769m Strong growth across most markets 80.0% 583 5
Slide 10: Generics
Generics Core revenue and core operating profit performance since Core revenue and core operating Columbus acquisition profit performance for 2024 000 100.0% 900 Core revenue 90.0% Revenue Core operating profit 2024 core revenue Core operating margin 800 80.0% $1,037m Strong demand for differentiate
Slide 11: Expanding and enhancing our product pipeline
Expanding and enhancing our product pipeline R&D spend (million) $180 $160 $140 $120 $149 $141 4.5% $100 $80 of Group core revenue $60 invested in R&D $40 Continue to invest in building a pipeline of differentiated $20 products. $0 Expect to increase 2025 spend 2023 2024 by c.20%. Hikma Pharmaceutic
Slide 12: Continuing to invest in the maintenance, upgrade and expansion of our facilities
Continuing to invest in the maintenance, upgrade and expansion of our facilities across the Group Capex by region ($ million) $200 20% $180 $172m $169m $165m $160 $145m 15% $138m $140 $119m $120 US MENA $100 10% Europe $80 Capex/revenue (%) $60 5% $40 $20 $0 0% 2019 2020 2021 2022 2023 2024 Hikma Ph
Slide 13: Cash flow and balance sheet
Cash flow and balance sheet Debt and leverage ($millions) 1,306 1,283 1,191 Operating cash flow 2023 2024 932 846 1.5x 1.4x Operating cash flow 608 564 1.2x 685 0.9x 0.6x 1,118 Operating cash flow/revenue 21% 18% 0.4x 1,013 976 605 420 242 2019 2020 2021 2022 2023 2024 Net debt Total debt Net debt/c
Slide 14: 2025 full year guidance
2025 full year guidance GROUP Revenue growth: Core operating profit: 4% to 6% $730 million to $770 million Injectables Branded Generics ● Revenue growth: ● Revenue growth: ● Revenue: 7% to 9% 6% to 7% in constant broadly flat ● Core operating margin: ● Core operating margin: ● Core operating margin:
Slide 15: Wrap-up
Wrap-up
Slide 16: Solid foundation and operational strength to support continued growth and attractive returns
Solid foundation and operational strength to support continued growth and attractive returns A well diversified, global generic Growing investment Strong pharmaceutical business across the business financial position 3 unique and complementary Broad portfolio and growing Strong balance sheet and bus
Slide 17: Appendix
Appendix
Slide 18: Group reported financial highlights
Group reported financial highlights 2023 2024 % change Revenue $2,875 million $3,127 million +9% Gross profit $1,390 million $1,415 million +2% Operating profit $367 million $612 million +67% Profit attributable to shareholders $190 million $359 million +89% Basic earnings per share 86 cents 162 cen
Slide 19: Glossary
Glossary Abbreviation Definition CMO Contract Manufacturing Organisation GLP-1 Glucagon-like peptide-1 RTU Ready-to-use MS Multiple sclerosis DMF Dimethyl Fumarate CML Chronic myelogenous leukaemia AML Acute myelogenous leukaemia Hikma Pharmaceuticals PLC 19