Slide 1: First half and Second quarter results 2011
2011 First half and Second quarter results Conference call, 26 July 2011
Slide 2: First half 2011 highlights
First half 2011 highlights A very productive six months • Revenue € 401.0 million, up 6.6%. • Operating income (EBIT) € 88.2 88 2 million or 22 22.0% 0% of sales sales, up 5.2%. 5 2% • Net income € 62.4 million or 15.5% of sales, up 5.3%. • Acquisition of Procto‐Glyvenol® Procto Glyvenol for the mar
Slide 3: Composition of revenue
Composition of revenue New emerging markets and new products driving growth (million Euro) 1H 2011 1H 2010 Change % Italy 121.8 105.9 15.0 France 66.2 71.9 (8.0) Germany 32.8 30.5 7.5 Portugal 17.2 18.7 (8.2) S i Spain 16 3 16.3 14 9 14.9 95 9.5 United Kingdom 4.2 5.0 (15.0) Other Western European c
Slide 4: A growing presence in Eastern Europe and Turkey
A growing presence in Eastern Europe and Turkey Portugal 4.5% Spain 4.2% UK 1.1% Germany 8.5% Other W. European countries 2.5% Russia, Turkey, other CEE 11.5% France 17.2% Other international sales 18.9% (sales to licensees and exports) Italy 31.6% Data: First half 2011 Pharmaceutical revenue € 385.
Slide 5: Main product sales
Main product sales Corporate products including orphan drugs now account for 41.2% of sales (million Euro) 1H 2011 1H 2010 Change % Zanidip® (lercanidipine) 69.2 82.0 (15.6) ® ((lercanidipine+enalapril) p Zanipress p p ) 19.6 14.5 35.4 Urorec® (silodosin) 7.9 ‐ n.s. Livazo® (pitavastatin) 2.4 ‐ n.s.
Slide 6: A richer product portfolio
A richer product portfolio Zanipress 4.9% Urorec 2.0% Other corporate products 8.3% Zanidip 17.2% Orphan drugs 8 8.8% 8% Pharmaceutical chemicals 3.9% Subsidiaries local product Subsidiaries’ Other revenue 3.8% portfolios 51.1% Entact®/Elopram® 6% (escitalopram/citalopram) ‐ Italy Peptazol® (pantopr
Slide 7: First half 2011 results
First half 2011 results Healthy sales and earnings growth (million Euro) 1H 2011 1H 2010 Change % Revenue 401.0 376.3 6.6 Gross Profit 267.5 254.9 4.9 as % of revenue 66 7 66.7 67 7 67.7 SG&A Expenses 147.7 135.1 9.3 as % of revenue 36.8 35.9 R&D Expenses 31.0 32.9 (5.8) as % of revenue 7.7 8.7 Othe
Slide 8: Second quarter 2011 results
Second quarter 2011 results Earnings growth despite increased sales effort to support launches (million Euro) 2Q 2011 2Q 2010 Change % Revenue 203.2 190.4 6.7 Gross Profit 136.5 128.7 6.1 as % of revenue 67 2 67.2 67 6 67.6 SG&A Expenses 76.8 69.4 10.7 as % of revenue 37.8 36.4 R&D Expenses 15.3 16.
Slide 9: Financial position and Shareholders' equity
Financial position and Shareholders’ equity Positive cash position even after dividend payout and investments (million Euro) 30 Jun 2011 31 Dec 2010 Change Cash and short‐term financial 186 9 186.9 161 7 161.7 25 2 25.2 investments Bank overdrafts and short‐term loans (2.6) (3.5) 0.9 Loans – due wit
Slide 10: Financial projections
Financial projections 2011 targets will be beaten 2010 2011 (million Euro) Actuall Targets Revenue 728.1 > 750 Operating income (EBIT) 154.8 >160 Net Income 108.6 >110 Based on existing business, possible new acquisitions could be added 10
Slide 11: Company declarations, disclaimers and profile
Company declarations, disclaimers and profile DECLARATION BY THE MANAGER RESPONSIBLE FOR PREPARING THE COMPANY’S FINANCIAL REPORTS The manager responsible for preparing the company’s financial reports Fritz Squindo declares, pursuant to paragraph 2 of Article 154‐bis of the Consolidated Law on Finan