Recordati S.p.a. · MIL:REC

Recordati — H1 2016 Earnings Presentation

11 slides from Recordati's earnings presentation, Jul 28, 2016

  1. Slide 1: 2016 First half results

    2016 First half results CONFERENCE CALL – 28 JULY 2016

  2. 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

  3. 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

  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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

  11. 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

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