PharmaNutra S.p.A. · MIL:PHN
PharmaNutra — H1 2024 Earnings Presentation
25 slides from PharmaNutra's earnings presentation, Sep 9, 2024
Slide 1: H1 2024 Financial Results
H1_2024 FINANCIAL RESULTS September 9th, 2024
Slide 2: Disclaimer
2 DISCLAIMER This document has been prepared by Pharmanutra S.p.A. (the “Company”) for use during meetings with investors and financial analyst and is solely for information purposes. It contains solely data and information provided by the Company or already in the public domain. This Document may n
Slide 3: Highlights 2024
HIGHLIGHTS 2024 \ f Q@PHARMANUTRA C—O
Slide 4: Highlights H1 2024
4 HIGHLIGHTS H1 2024 • The first half of 2024 shows a solid organic growth in revenues and margins compared to 2023 H1 confirming that 2024 1st quarter results were affected by transitory conjunctures mainly related to the dynamics of the wholesalers channel. In the second quarter of 2024, sales rev
Slide 5: Highlights H1 2024
5 HIGHLIGHTS H1 2024 • At the end of February, the Pharmanutra’s Board of Directors approved the merger project by incorporation of the subsidiaries Junia Pharma and Alesco into Pharmanutra. The merger has been completed on the 4th of July within the expected timeframe. • In March 2024, the Board of
Slide 6: Economic and Financial Data
ECONOMIC AND FINANCIAL DATA @PHARMANUTRA
Slide 7: Highlights H1 2024
7 HIGHLIGHTS H1 2024 NET REVENUES € 56,1 M + 13% ▪ Net Sales Revenues organic increase of 13% compared (€ 49,6 M IN H1 2023) to 2023 H1. EBITDA € 16,2 M ▪ 29% EBITDA margin on net revenues. EBITDA margin on (+15% COMPARED TO € 14,1 M IN H1 net revenues related to the recurring business 33% 28,9% 202
Slide 8: Net Revenues
8 NET REVENUES Net revenues at 30.06.2024 accounted for € 56,1 million, recording a 13% increase compared to the previous year. Revenues on foreign markets recorded a growth of 32% while revenues on domestic market increased 6%. Akern’s net revenues accounted for € 2,8 million, about 5% on the total
Slide 9: Net Revenues
9 NET REVENUES Breakdown by Area of Business Breakdown by Geographic Area Revenues breakdown by Area of Business Incidence % Revenues breakdown by Geographic Area Incidence % €/000 2024 2023 Δ% 2024 2023 €/000 2024 2023 Δ% 2024 2023 Italy 37.515 35.476 5,7% 66,9% 71% Europe 10.577 8.124 30,2% 18,9%
Slide 10: Net Revenues by Trademark and Area of Business
10 NET REVENUES BY TRADEMARK AND AREA OF BUSINESS Revenues breakdown by Trademark and Area of Business Incidence % €/000 2024 2023 Δ% 2024 2023 Sideral 39.051 34.820 12,2% 70% 70% Cetilar 5.466 4.897 11,6% 10% 10% Apportal 5.164 4.058 27,3% 9% 8% Ultramag 672 580 15,8% 1% 1% Other 1.355 1.354 0,1% 2
Slide 11: Units Sold
UNITS SOLD @PHARMANUTRA Thousands 30/06/2023 Mi ltaly 30/06/2024 m Rest of World
Slide 12: Profit and Loss
12 PROFIT AND LOSS PHN GROUP PROFIT AND LOSS (€/000) 30/06/2024 30/06/2023 REVENUES A) REVENUES 56.996 50.247 The contribution of revenues from new projects is still marginal (about Net Revenues 56.073 49.632 €1,1 m of which € 0,7 from China). Other revenues 923 615 B) OPERATING EXPENSES 40.797 36.1
Slide 13: Reclassified Consolidated Balance Sheet
13 RECLASSIFIED CONSOLIDATED BALANCE SHEET Amounts in €/000 30/06/2024 31/12/2023 ∆ 2024 vs 2023 Operating Working Capital Trade receivables 23.795 19.219 4.576 Operating working capital increase is driven by the higher Inventories 7.573 8.166 -593 amount of revenues Trade Payables (16.039) (16.097)
Slide 14: Consolidated Cash Flow
14 CONSOLIDATED CASH FLOW Cash Flow (€/000) 30/06/2024 30/06/2023 Net Result 8.897 7.232 NON MONETARY EXPENSES Amortization, depreciation and w.o. 1.707 854 Accrual for employees benefits 472 410 CASH FROM OPERATING ACTIVITIES The increase in cash from operating activities is driven by higher net re
Slide 15: Net Financial Position
15 NET FINANCIAL POSITION NFP The decrease in NFP compared to 31.12.2023 is due to a temporary cash absorption generated by the dividends distribution.
Slide 16: Market
MARKET @PHARMANUTRA
Slide 17: Trend IMS & OD
Trend IMS & OD 250 Thousand 20 8 15 8 106 8 5K 8 ° lug-23 500 420 Thousand 400 300 lug-23 @PHARMANUTRA ago-23 248 26| 222} ago-23 IMS (Units) 255 265 240 231-239 246 23g «246 240 239 222 THAT set-23 ott-23 nov-23 dic-23—_gen-24 mar-24 IMS+OD (Units) 532 rs) 421 wa 309 ag 17406 401 190] 23 208 faus]
Slide 18: Trend IMS & OD Quarterly Average
18 Trend IMS & OD Quarterly Average
Slide 19: Iron Supplements Sideral Market Share in Italy
19 IRON SUPPLEMENTS SIDERAL® MARKET SHARE IN ITALY Excluding products that contain only lactoferrin Source IQVIA
Slide 20: Anti-Inflammatory Topical Cream Cetilar Market Share in Italy
20 ANTI-INFLAMMATORY TOPICAL CREAM CETILAR® MARKET SHARE IN ITALY Source IQVIA
Slide 21: Tonics Apportal Market Share in Italy
21 TONICS APPORTAL® MARKET SHARE IN ITALY Source New Line Ricerche di Mercato
Slide 22: International Development
22 INTERNATIONAL DEVELOPMENT COUNTRIES PARTNERS Contracts 87 58 Active Sales 64 46 On-going Registration 23 12 On-going Negotiation 15 14
Slide 23: Outlook 2024
OUTLOOK 2024 / — @PHARMANUTRA WAAAY AA LOO ee eee 7mm
Slide 24: Outlook 2024
24 OUTLOOK 2024 ▪ The solid organic growth that characterized the first half of 2024, in a highly challenging context, is expected to continue also in the second half of the year, allowing the achievement of the Group’s targets for the current year. ▪ In September, the distribution of two products f
Slide 25: Pharmanutra
Q@PHARMANUTRA