Dermapharm Holding Se · XETR:DMP
Dermapharm — Q1 2024 Earnings Presentation
20 slides from Dermapharm's earnings presentation, May 15, 2024
Slide 1: Investors' and Analysts' Conference Call Q1 2024
INVESTORS’ AND ANALYSTS’ CONFERENCE CALL Q1 2024 Grünwald, 15 May 2024
Slide 2: Agenda Q1 2024
AGENDA Q1 2024 1. Financial figures 3M 2024 2. Outlook 2024 3. Q&A 2
Slide 3: Financial figures Q1 2024
Financial figures Q1 2024 Image: Günther Fotodesign
Slide 4: Strong growth of the existing product portfolio
Strong growth of the existing product portfolio excluding the expiring vaccine production Excluding the vaccine business Significant revenue growth driven by Revenue +€12.1m1 the branded products‘ segment … EBITDA +€15.6m … with an above average (adjusted) profitability … EBITDA margin +4.4%pts. … i
Slide 5: Dermapharm Group
Dermapharm Group Strong organic growth in the high-margin existing business of the branded products’ segment can largely compensate for the decline of the expiring vaccine business Total Revenue EBITDA1 EAT2 Revenue decline of -6.4% to €298.7m, driven by €m €m, adjusted €m reduced revenues from th
Slide 6: Adjusted EBITDA margin per segment
Adjusted EBITDA margin per segment Strong profitability despite phasing out of vaccine production Adjusted EBITDA margin Without vaccine production 3M 2024 3M 2023 EBITDA margin in % 29.7% 33.2% increased by +4.4%pts to ~28%. Branded Branded 3M 2024 49.8% pharmaceuticals pharmaceuticals 3M 2023 53.3
Slide 7: Earnings after tax (EAT)
Earnings after tax (EAT) Decline impacted by the discontinuation of the vaccine production and a temporary, consumption driven weakness of Arkopharma The slight decline in results is due to EAT the economic weakness observed in €m recent months and the associated decline in consumption especially in
Slide 8: Net debt reduction
Net debt reduction by €70m since June 2023 proofs the underlying ability of the business to generate cash Net debt Continuous net debt reduction to €m 984 continue in 2024 with 991 €50m repayment of term loan B (total outstanding amount of €200m) and 937 921 €38.5m repayment of promissory note
Slide 9: Strong cash flows and cash conversion
Strong cash flows and cash conversion Cash conversion Q1 2023 favourably impacted by vaccine production Cash flow and cash conversion1 CF from operating activities in 3M 2024 €m and in % of Group EBITDA mainly influenced by Cash lower cash-ins from the vaccine business conversion compared to Q1
Slide 10: Outlook 2024
2 Outlook 2024 Image: Günther Fotodesign
Slide 11: Outlook 2024
Outlook 2024 Strong performance of the existing portfolio in the Branded products’ segment compensates for the current underperformance of other segments Overall, the Q1 2024 trend at Group level is in line with the underlying assumptions. In particular, the strong performance of the existing port
Slide 12: Q&A
3 Q&A Image: Günther Fotodesign 12
Slide 13: Backup
Backup Image: Günther Fotodesign
Slide 14: Branded pharmaceuticals
Branded pharmaceuticals Strong organic growth almost offset decline from expiring vaccine business Revenue EBITDA1 Revenue decline of -4.7% to €143.0m €m €m, adjusted -4.7% Strong organic growth of existing portfolio EBITDA YoY and consideration of Montavit (initially 150.0 Margin 143.0 53.3% co
Slide 15: Other healthcare products
Other healthcare products Lower consumer spending drives decline in Arkopharma revenues in Q1 2024 over Q1 2023 Revenue EBITDA1 Revenue slightly declined by -4.7% to €m €m, adjusted -4.7% €99.1m, driven by YoY EBITDA reluctant consumer spending in France, 105.7 Margin 99.1 Arkopharma’s largest sal
Slide 16: Parallel import business
Parallel import business … affected by poor product availability over the last months and a temporary adverse change in product mix Revenue EBITDA Revenues decreased by -10.7% to €56.6m, €m €m, adjusted driven by -10.7% EBITDA 63.4 YoY Margin a poor availability of goods from import 56.6 2.4% 0.4%
Slide 17: Earnings before tax (Group EBT)
Earnings before tax (Group EBT) EBT decline due to newly considered depreciation charges from recent acquisitions Earnings before tax (EBT)1 EBT decreased by -8.5% or €5.9m to €m €63.9m translating to a margin of 21.4% EBT Margin Slightly lower EBT result mainly driven by 21.9% 21.4% Montavit de
Slide 18: Balance Sheet of Dermapharm Group
Balance Sheet of Dermapharm Group Balance sheet as of 31 March 2024 Total assets increased to €2,173m €m (31 December 2023: €2,161m) Decrease of non-current assets 2,173 2,173 (€1,524m; 31 December 2023: €1,530m) and higher current assets (€649m; Equity 31 December 2023: €630m) Non-current Equ
Slide 19: Disclaimer
Disclaimer This publication includes statements, estimates, opinions and projections with respect to the anticipated future performance of Dermapharm Holding SE (together with its consolidated subsidiaries, “Dermapharm”) and such statements, estimates, opinions and projections (“Forward-Looking Stat
Slide 20: For information, please contact
For information, please contact Britta Hamberger Investor Relations & Corporate Communications Dermapharm Holding SE E-Mail: ir@dermapharm.com Phone: +49 (0) 89 641 86 233 Dermapharm FY 2021 20