Bora Pharmaceuticals Co Ltd · TWSE:6472
Bora Pharmaceuticals — Q1 2023 Earnings Presentation
21 slides from Bora Pharmaceuticals's earnings presentation, May 17, 2023
Slide 1: First Quarter 2023 Results Investor Presentation
FIRST QUARTER 2023 RESULTS Investor Presentation May 2023
Slide 2: Agenda
Agenda Company Introduction Recent Development & Operational Updates Financial Highlights 2023 Strategic Deliverables & YTD Progress Q&A
Slide 3: Dual-Engine Growth Strategy to "Race to the Top"
Dual-Engine Growth Strategy to “Race to the Top” 保瑞集團 Bora Group Global CDMO Operations Global Commercial Operations • High growth + cashflow positive business • Better profits with blockbuster projects • Inflation + recession proof industry • Direct access to end-market demand Improved efficiency t
Slide 4: Well-structured Portfolio Companies with Dedicated Function
Well-structured Portfolio Companies with Dedicated Function 保瑞集團 Bora Group Bora Bora Bora Bora Bora Biologics TWi Pharmaceuticals 聯邦化學製藥股份 保瑞聯邦股份 Pharmaceuticals Pharmaceutical Pharmaceuticals Pharmaceutical (Zhubei) 有限公司 有限公司 (Tainan Facility) Laboratories USA (USA) Services (Zhunan) (Canada) Glob
Slide 5: Experienced Leadership Team with Proven Track Record
Experienced Leadership Team with Proven Track Record Bobby Sheng Group CEO & Chairman > 25 years of experiences in Simon Chen Alice Wang pharma industry, including M&A, strategy planning and operational R&D VP, Spokesman Group CFO & management Deputy Spokesperson Sally Langa Tom Chang Jennifer Kuan
Slide 6: Bora by the Numbers
60+ Billion NTD Market Cap* 1250+ Employees Bora by the 100+ Export Countries Numbers 7 Manufacturing Sites 10 Billion NTD+ FY2022 Revenue 95% Revenues outside of Taiwan *As of March 2023 #1 Pharma Manufacturer in Taiwan (by volume) * 6
Slide 7: Q1'23 Operational Updates
Q1’23 Operational Updates
Slide 8: A Strong Start to Kick Off the Success of 2023
A Strong Start to Kick Off the Success of 2023 • With solid execution of the “dual-engine” growth strategies, Bora’s Q1’23 revenue were NT$4,780 million for a 328% increase YoY • Global CDMO operations grew by over 26% YoY for all the business units well advancing with major milestones achieved Fo
Slide 9: Global CDMO Operations – Promising Momentum with increasing Brand customers engaged
Global CDMO Operations – Promising Momentum with increasing Brand customers engaged Dosage Form/ Site Area/ Capacity Target Market Key Customer Capability Oral Solid • Taiwan • Tablets • 24,298 Sq. Meters • ASEAN • Capsules • 700 million units • Latin America • Granule • Middle East + Packaging Oral
Slide 10: Global CDMO Operations – Bora Bio's Proven Track Record
Global CDMO Operations – Bora Bio’s Proven Track Record to Support Customers’ Global Clinical Trials cGMP MFG Batches used in Global Clinical Trials • 60+ batches produced using our cGMP Manufacturing Plant with 100% success rate continuously since 2014. • Recent Client/Partner Success: • Project 1:
Slide 11: Global Commercial Sale Operations – Growing with More Diversified Portfolio
Global Commercial Sale Operations – Growing with More Diversified Portfolio - Diltiazem Hydrochloride ER Capsules 60mg, 90mg, 120mg 1 ANDA Approval TTL sales for the 12 months ended Dec 2022 were approximately US$54m* US Market 1. Guanfacine Tablets 4 Product Launch Dexlansoprazole + 2. Testosterone
Slide 12: Global Commercial Operations – More to Come from Robust R&D Pipeline
Global Commercial Operations – More to Come from Robust R&D Pipeline TTL Addressable Market Opportunities* Latest Progress Market Potential > US$22,000mn Oph Project 1 ~US$2,300mn CRL to reply by 2023 Q3 Oral Project 1 ~US$530mn CRL to reply by 2023 Q3 Oph Project 2 ~US$420mn CRL to reply by 2023 Q2
Slide 13: Q1'23 Financial Highlights
Q1’23 Financial Highlights
Slide 14: Strong Growth Momentum by "Dual-Engine" Strategies
Strong Growth Momentum by “Dual-Engine” Strategies Growth Engine for 2023 Q1 Revenue Composition for 2023 Q1 Q1’22 = NT$4,781mn CDMO, Commercial 26% Sale, 74% Q1’22 = NT$1,117mn TW, US 5% Others, PAC, 9% 45% DLS, 41% 14
Slide 15: … and Lead to Another Record High Quarter
… and Lead to Another Record High Quarter Financial Highlights Key Financials YoY QoQ • Favorable revenue mix (in NTD millions, except for EPS) Q1'23 Q1'22 % Q4'22 % • 26% CDMO + 74% Revenue 4,781 1,117 328% 5,298 -10% Commercial Sale • Improved product margin COGS (2,855) (728) (4,205) • More DLS s
Slide 16: Rapid Growth Backed by Strong Financials
Rapid Growth Backed by Strong Financials Revenue (NT$’mn) Gross Profits (NT$’mn) 10,494 ROE, ROIC trending toward record high 2,913 4,900 4,781 1,926 ROE ROIC 1,672 1,800 36.2% 704 26.7% 28.1% 2020 2021 2022 Q1'23 2020 2021 2022 Q1'23 Net Profits (NT$’mn) 15.7% Operating Income (NT$’mn) 13.5% 5.1% 1
Slide 17: Focusing on Corporate Governance to Drive Sustainable Growth
Focusing on Corporate Governance to Drive Sustainable Growth Corporate Governance Improved Significantly Bora ESG Vision & Plan 2022 Corporate Governance Review Ranking* Top 5% 37 6% – 20% Bora… among 110 21% – 35% 110 2021 Corporate Governance Review 36% – 50% 110 Ranking* 51% – 65% 111 Top 5% 66%
Slide 18: Strategic Deliverables & YTD Progress
Strategic Deliverables & YTD Progress
Slide 19: All Strategic Deliverables are Progressing Well as Planned
All Strategic Deliverables are Progressing Well as Planned Global CDMO Global Commercial Sale - 10+ new CDMO customers - New CDMO contract signed with Further expand business - 5+ new launches for the US market Celltrion in April - 4 new product launched under TWi opportunities by capitalizing - 10+
Slide 20: Bora Group as the Leading Taiwan-based Pharma Company Fueled by Dual-engine Strategy
Bora Group as the Leading Taiwan-based Pharma Company Fueled by Dual-engine Strategy with Global Reach Largest CDMO pharma company in Taiwan with well-established infrastructure Duel-engine growth strategy covering the major fast-growing segments in global pharma industry with competitive edge State
Slide 21: Thank You !
eee Thank You ! Bora : fe Pharmaceuticals