Slide 1: 2016 First half results
2016 First half results CONFERENCE CALL – 28 JULY 2016
Slide 2: First half 2016 highlights
First half 2016 highlights • Revenue € 587.9 million, up 9.1% • EBITDA € 188.1 million or 32.0% of sales, up 14.8% • Operating income (EBIT) € 170.2 million or 29.0% of sales, up 17.2% • Net income € 122.7 million or 20.9% of sales, up 18.9% • Net debt € 164.4 million, an increase of € 75.6 million
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 62.2% of revenue (million Euro) 1H 2016 1H 2015 Change % Zanidip® (lercanidipine) 63.7 63.9 (0.4) Zanipress® (lercanidipine+enalapril) 35.0 34.3 1.9 Urorec® (silodosin) 42.7 33.0 29.5 Livazo® (pitavastatin) 17.7 13.4
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 13.4% Drugs for rare diseases 16.2% Livazo® 3.0% Urorec® 7.3% Zanipress® 5.9% OTC 16.7% Zanidip® 10.8% Subsidiaries’ local product portfolios 22.0% Pharmaceutical chemicals 3.6% Ortoton® (methocarbamol) - Germany 3% Other revenue 1.1% Methadon
Slide 5: Composition of revenue by geography
Composition of revenue by geography Sustained growth (million Euro) 1H 2016 1H 2015 Change % Italy 118.0 112.7 4.7 France 57.2 55.5 3.1 U.S.A. 52.8 39.8 32.9 Germany 48.1 45.3 6.0 Turkey 45.1 40.6 11.2 Spain 37.6 34.8 7.9 Russia, other CIS countries and Ukraine 35.7 34.6 3.1 North Africa 26.7 23.9 1
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 16.4% (sales to licensees and exports) Italy 20.8% Other CEE 2.8% Other W. Europe 3.0% Portugal 3.5% France 10.1% North Africa 4.7% Russia, other CIS and Ukraine 6.3% U.S.A. 9.3% Spain 6.6% Turkey 8.0% Germany 8.5% Data: Firs
Slide 7: First half 2016 results: Further margin growth
First half 2016 results Further margin growth (million Euro) 1H 2016 1H 2015 Change % Revenue 587.9 539.1 9.1 Gross Profit 407.4 366.8 11.1 as % of revenue 69.3 68.0 SG&A Expenses 187.0 182.1 2.7 as % of revenue 31.8 33.8 R&D Expenses 41.6 37.9 9.8 as % of revenue 7.1 7.0 Other Income (Expense), net
Slide 8: First half 2016 results: Operating segments
First half 2016 results Operating segments Revenue EBIT Treatments for rare diseases 16.2% Treatments for rare diseases 26.0% Primary & specialty care Primary & specialty care 83,8% 74.0% EBIT margin on sales: Treatments for rare diseases, 46.5% Primary & Specialty care, 25.6% (or 27,3% excluding no
Slide 9: Financial position and Shareholders' equity
Financial position and Shareholders’ equity (million Euro) 30 Jun 2016 31 Dec 2015 Change Cash and short-term financial 140.7 225.5 (84.8) investments Bank overdrafts and short-term loans (17.5) (9.8) (7.6) Loans – due within one year (39.9) (34.5) (5.5) Loans – due after one year (247.7) (269.9) 22
Slide 10: Financial projections: 2016 targets
Financial projections 2016 targets 2015 2016 (million Euro) Actual Targets Revenue 1,047.7 ± 1,140 Operating income 278.5 ± 325 (EBIT) Net Income 198.8 ± 230 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