Animalcare Group Plc · LSE:ANCR
Animalcare — FY2022 Earnings Presentation
17 slides from Animalcare's earnings presentation, Mar 28, 2023
Slide 1: Full year results 2022
I N V E S TO R P R E S E N TAT I O N Full year results 2022 Jenny Winter, Chief Executive Officer Chris Brewster, Chief Financial Officer
Slide 2: Disclaimer
Disclaimer The information contained in this confidential document (“Presentation”) has been prepared by the Company. It has not been verified by the Company and is subject to material updating, revision and further amendment. This Presentation has not been approved by an authorised person in accord
Slide 3: FY2022 Highlights
Evolving the sustainability and quality of our business Growth Business Innovative Organisation Strong portfolio development pipeline for growth finances Focused portfolio in Work with partners Launch new Sales capabilities, Financial key therapy areas in to build a pipeline of products and leadersh
Slide 4: Dynamic market with attractive fundamentals
Dynamic market with attractive fundamentals Drivers of growth specific to overall animal health and pharmaceuticals markets Resilient drivers of demand Premium for innovation Market continues to be resilient: Product categories are crystalising: • High levels of pet ownership • Volume growth driven
Slide 5: Financial highlights 2022
Financial highlights 2022 Revenue Underlying* EBITDA ↓3.3% ↓2.4% 2022 2021 2022 2021 £71.6m £13.1m £71.6m £74.0m £13.1m £13.5m Down 2.5% at CER Underlying EBITDA margin 18.3%; 18.2% for prior year Underlying cash Net debt conversion ↑£0.1m 2022 2021 78.3% £5.4m 2022 2021 78.3% 108.8% £5.4m £5.3m Bel
Slide 6: Sector performance reflects market and one-off factors
Sector performance reflects market and one-off factors Growth of new products in Companion Animals partially offsets downward pressures Companion Animals Production Animals Equine & others ↓2.2% • Demand moderating • Decline largely due to • Danilon – one of as markets return to implementation of EU
Slide 7: Increasing quality and sustainability of pharma portfolio
Increasing quality and sustainability of pharma portfolio ESTABLISHED BRANDS NEW BRANDS Focus on existing brands is Brands launched in the last driving growth and margin three years are driving top improvement line revenue and margin Established Top 10 brands • DAXOCOX (CA) – growing at continue to
Slide 8: Identicare coming to the fore in 2022
Identicare coming to the fore in 2022 more new • Identicare re-positioned as a subscription-based services model under specialist digital leadership • Business returns double-digit revenue growth over the period 8
Slide 9: Developing a balanced pipeline of increasing strength
Developing a balanced pipeline of increasing strength 2018 2019 2020 2021 2022 2023+ OTC – two new Additional products developed candidates from for launch 2023 Orthros collaboration • Pursue pipeline Orthros research opportunities collaboration through R&D established to access partnerships, in- VH
Slide 10: Orthros partnership helps build pipeline for the future
Orthros partnership helps build pipeline for the future Twin-track agreement aims to exploit potential of VHH antibody technology Working in partnership with Orthros Medical to identify STATUS: RESEARCH effective Animal Health Feasibility ongoing to candidates in a broad range review a number of COL
Slide 11: Business development
Business development Inorganic growth is central to the Group’s long-term strategy • Animalcare remains active in pursuit of M&A and partnering opportunities - detailed assessment of >20 opportunities over last 12 months; four subject to DD; one completed • Highly ambitious and highly disciplined in
Slide 12: Enabling functions support drive for revenue
Enabling functions support drive for revenue ESG Supply chain Sustainability Continued taskforce established. improvement in Identifying issues of robustness of material importance supply to stakeholders and the Group People & Culture Technology Salesforce Roll out of Veeva capabilities. complete. L
Slide 13: Summary and outlook
Summary and outlook • Animal health remains an attractive, growing market despite some moderation in demand from post-pandemic peak • Understanding and managing market needs is vital in a dynamic and evolving landscape • Novel prescription medicines are source of future high value growth • Daxocox,
Slide 14: Full year results 2022
28 MARCH 2023 Full year results 2022
Slide 15: Appendix: Financial statements
Appendix: Financial statements 15
Slide 16: Consolidated income statement
Unaudited Unaudited Unaudited Consolidated income statement underlying Non-underlying Total Underlying Non-underlying Total For the year ended 31 December 2022 2022 2022 2022 2021 2021 2021 £'000 £'000 £'000 £'000 £'000 £'000 Revenue 71,616 − 71,616 74,024 − 74,024 Cost of sales (30,957) − (30,957)
Slide 17: Consolidated cash flow
Consolidated cash flow For the year ended 31 December 2022 Unaudited Unaudited 2022 2021 2022 2022 £’000 £’000 £’000 £’000 Operating activities Financing activities Profit before tax 2,542 945 Repayment of loans and borrowings (1,320) (6,952) Non-cash and operational adjustments Repayment of IFRS 16