Laboratorios Farmaceuticos Rovi, S.a. · BME:ROVI
Laboratorios Farmaceuticos Rovi — Q1 2022 Earnings Presentation
24 slides from Laboratorios Farmaceuticos Rovi's earnings presentation, May 2022
Slide 1: First Quarter 2022 Financial Results
First Quarter 2022 FINANCIAL RESULTS MAY 2022
Slide 2: Disclaimer
DISCLAIMER This Presentation has been prepared by Laboratorios Farmacéuticos ROVI, S.A. (the “Company”) and comprises the slides for a presentation concerning the Company and its subsidiaries (the “Group”). For the purposes of this disclaimer, “Presentation” means this document, its contents or any
Slide 3: 2022 first quarter financial results - highlights
2022 first quarter financial results - highlights Operating revenue growth of 57% to €205.6 Mn and EBITDA growth of 113% to €74.3Mn in Q1 2022. Sales of the heparin franchise increased by 19% to €75.9 Mn in Q1 2022. Sales of Neparvis® increased by 7% to €9.3 Mn in Q1 2022. CMO sales increased by 167
Slide 4: Milestones achieved – approval of Okedi and expansion of collaboration with Moderna
® Milestones achieved – approval of Okedi and expansion of the long-term collaboration with Moderna ROVI receives the European Commission’s approval of Okedi® as a treatment for schizophrenia The European Commission has authorised the marketing of Okedi® (Risperidone ISM®) for the treatment of schiz
Slide 5: Operating Results
OPERATING RESULTS ROVI
Slide 6: Growth driven by CMO and specialty pharma businesses
Growth driven by CMO and specialty pharma businesses… Q1 2022 sales variation 250 59.4 205.6 200 +57% 14.8 0.6 0.4 1.0 1.6 150 130.5 €Mn -2.8 100 50 0 t r is s 21 ca bo rv sa S t O 22 20 Be Hi lut NH uc CM 20 s pa Vo e od s le ar in Ne th rp r le Sa p to e Sa Q 1 xa n ts th Q 1 o O En ou sc Di 61
Slide 7: …with high profitability
…with high profitability +113% 80 40% EBITDA Margin 74.3 36.1% +123% 60 30% 53.0 €Mn 26.7% 40 20% 34.8 23.8 EBITDA Net Profit 20 10% EBITDA Net Profit 0 0% Q1 2021 Q1 2022 EBITDA increased to €74.3 Mn in Q1 2022, a rise of 113% compared to Q1 2021. Net profit increased by 123%, from €23.8 Mn in Q1 2
Slide 8: Heparins, leading the specialty pharmaceutical business
Heparins, leading the specialty pharmaceutical business Prescription-based sales Heparin franchise sales LMWH sales +19% 75.9 +50% -8% 80 +17% 120 50 44.2 63.9 100.5 100 60 40 86.2 32.8 €Mn €Mn €Mn 29.4 30.0 80 30 40 60 20 Enoxaparin Bemiparin 20 biosimilar Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1
Slide 9: Successful internationalization plan
Successful internationalization plan Well positioned to drive long-term leadership in Low Molecular Weight Heparins (LMWH) Sales of LMWH (Enoxaparin biosimilar and Bemiparin) increased by 19% to €74.2 Mn in Q1 2022 Total group sales Sales Q1 2021 Sales Q1 2022 +16.2 pp 31.5% 47.7% 52.4% 68.5% Intern
Slide 10: Strong growth potential of Enoxaparin Biosimilar Becat
Strong growth potential of Enoxaparin Biosimilar Becat® Well-Established Network to Minimize Time-to- Commercial Strategy Market ROVI will directly market In the long-term, enoxaparin biosimilar Becat® biosimilars tend to reach a… Approved Direct in 7 European countries… in 26 Marketed in countries
Slide 11: Neparvis, Volutsa and the hypercholesterolemia franchise leading specialty pharma growth
Neparvis®, Volutsa® and the hypercholesterolemia franchise leading the growth of the specialty pharma business 13 +7% +15% 9.7 10 8.7 9.3 21% 8.5 8.2 8 6.8 €Mn +9% 5 4.3 3.9 -14% 2.5 3 2.1 0 Neparvis Volutsa Vytorin & Absorcol & Ulunar & Hirobriz Contrast agents and Orvatez other hospital products Q
Slide 12: Value added CMO services
Value added CMO services CMO strategy CMO evolution ROVI and Moderna will expand long-term collaboration: • This new agreement, which has a term of ten years, Q1 2022 sales 95.0 includes a series of investments expected to allow the manufacturing capacity to increase across ROVI’s €Mn facilities in
Slide 13: ISM Platform opens up new avenues of growth for ROVI
ISM® Platform opens up new avenues of growth for ROVI Overview Key Company Highlights of ISM® Platform • Internally-developed and patented innovative drug-release technology, ISM®,1 which allows for the sustained release of compounds administered Pop PK2 model & by injection Expected high simulation
Slide 14: Outlook 2022
Outlook 2022 2022 operating revenue growth rate + 15 % - 20 % The key Growth levers in 2022 Specialty Pharma CMO Bemiparin Spare capacity in the manufacturing Biosimilar of Enoxaparin plants Launch of Okedi® New customers to be acquired Existing portfolio of specialty Agreement with Moderna pharmace
Slide 15: Financial Results
FINANCIAL RESULTS ROVI
Slide 16: Good revenue level with resilient sales growth
Good revenue level with resilient sales growth Operating revenue LMWH sales 100 +57% +19% 74.2 75 62.2 59.4 205.6 14.3 1.3 44.2 €Mn 130.5 50 29.4 €Mn 25 32.8 30.0 0 s ts s Q1 2021 Q1 2022 &… O s ale du c ts CM sa le 21 pro en 22 20 tio n t ag 20 Q1 rip as Q1 Bemiparin Enoxaparin biosimilar c ntr Pre
Slide 17: Gross margin positively impacted by the CMO division
Gross margin positively impacted by the CMO division Gross profit and Gross margin Gross margin impacts Gross profit increased by 79% to €125.3 Mn in Q1 2022, the gross margin showing an increase of 7.2 p.p. from 53.7% in Q1 2021 to 150 65% +79% 125.3 60.9% in Q1 2022, mainly because the increase in
Slide 18: Cost control along with commitment to R&D
Cost control along with commitment to R&D SG&A expenses R&D expenses +57% 60 25% 22.6% 22.5% Q1 2022 4.8 -19% €Mn €Mn 30 20% 46.3 29.5 Q1 2021 5.8 0 15% Q1 2021 Q1 2022 0 2 4 6 8 SG&A SG&A/Operating revenue SG&A increased 57% to €46.3 Mn in Q1 2022 mainly as a result of: R&D expenses decreased 19% t
Slide 19: EBITDA, EBIT & Net Profit analysis
EBITDA, EBIT & Net Profit analysis EBITDA EBIT +132% 33.4% 100 +113% 36.1% 42% 80 36% 22.7% 68.7 26.7% 74.3 €Mn €Mn 50 30% 40 24% 29.6 34.8 0 18% 0 12% Q1 2021 Q1 2022 Q1 2021 Q1 2022 EBITDA EBITDA Margin EBIT EBIT margin 100 0.0 Net Profit -16.8 1.1 74.3 +123% 55.2 60 50 €Mn 53.0 €Mn 40 34.8 20 23.
Slide 20: PRE-R&D analysis
PRE-R&D analysis +94% +107% +99% 100 79.0 73.5 75 €Mn 56.7 50 40.6 35.4 28.6 25 0 EBITDA pre-R&D EBIT pre-R&D Net profit pre-R&D Q1 2021 Q1 2022 EBITDA “pre-R&D” increased by 94%, from €40.6 Mn in Q1 2021 to €79.0 Mn in Q1 2022. EBIT “pre-R&D” increased by 107%, from €35.4 Mn in Q1 2021 to €73.5 Mn
Slide 21: Capital expenditure and Cash Flow
Capital expenditure and Cash Flow CAPEX evolution 250 CF evolution 200 6 -46% 150 116.0 -11.9 €Mn 100 -2.1 3.9 €Mn 4 50 27.4 0.3 31.3 2.1 0 -98.5 2 -50 021 o… ital pex es er 202 2 2 m cap Ca har Oth FY fro g ry S Q1 0 ash ash rkin su ash et c et c Wo T rea et c N N N Q1 2021 Q1 2022 CF from operatin
Slide 22: Debt analysis
Debt analysis Debt breakdown by source (%) Debt maturities 40 36.3 Total debt €72.3Mn 30 €Mn 23% Financial liabilities for leases 20 Debt with public administration Bank borrowings 62% 15% 11.1 10.1 9.9 10 4.9 0 2022 2023 2024 2025 2026 + Debt with public administration represented 15% of total debt
Slide 23: News-flow 2022
News-flow 2022 Sales of biosimilar of Enoxaparin Specialty pharma Additional new products to be launched in 2022 Granting by the competent local authorities of the marketing authorisation of an Enoxaparin biosimilar outside Europe New contracts to be announced CMO Evolution of Moderna’s vaccine manu
Slide 24: For further information, please contact
For further information, please contact: Juan López-Belmonte Chairman and Chief Executive Officer www.rovi.es Javier López-Belmonte First Vice-President and Chief Financial Officer www.rovi.es Marta Campos Head of Investor Relations +34 91 2444422 mcampos@rovi.es www.rovi.es
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