Slide 1: First quarter financials
Milan, 6 May 2008 2008 First quarter financials
Slide 2: First quarter 2008 Highlights
First quarter 2008 Highlights ¾ Revenue € 171.9 million, up 5.2%, international sales grow by 9.3% ¾ EBIT € 38.1 million, up 2.9% ¾ Net income € 25.3 million, up 7.4% ¾ Acquisition of FIC and FIC Médical, our distribution arm in Russia and other C.I.S. countries ¾ MRP for the approval in the EU of t
Slide 3: Composition of revenue
Composition of revenue (million Euro) 1Q 2008 1Q 2007 Change % Italy 54.0 56.3 (4.1) France 33.6 33.6 0.1 Germany 11.7 11.2 4.2 Portugal 11.7 12.1 (3.2) Spain 6.5 5.6 15.2 United Kingdom 2.5 3.1 (20.4) Other European countries 1.1 0.3 n.s. Other international sales 31.9 31.5 1.2 Orphan Europe 10.4 -
Slide 4: Breakdown of pharmaceutical revenue
Breakdown of pharmaceutical revenue Other European countries UK 0.7% Spain Other international sales Portugal 2% 4% 7% 20% Germany 7% 6% Orphan Europe 21% 33% Total revenue France Pharmaceuticals Italy 95% 5% Data: First quarter 2008 Total revenue € 172 m Pharmaceutical Pharmaceutical revenue € 163
Slide 5: Sources of growth
Sources of growth (% change, first quarter 2008 over first Volume Price Exchange Total quarter 2007) PHARMACEUTICALS 9.9 (3.0) (0.6) 6.3 PHARMACEUTICAL CHEMICALS (5.8) (1.7) (5.4) (12.9) TOTAL CHANGE 9.0 (2.9) (0.9) 5.2 4
Slide 6: Lercanidipine sales
Lercanidipine sales (million Euro) 1Q 2008 1Q 2007 Change % Italy 11.7 12.1 (2.8) France 11.5 10.0 15.4 Spain 2.2 1.9 18.2 United Kingdom 2.2 3.0 (28.1) Germany 1.7 1.2 45.2 Others 1.8 0.8 n.s. DIRECT SALES 31.2 28.9 7.8 SALES TO LICENSEES 19.9 18.0 10.5 TOTAL LERCANIDIPINE SALES 51.1 46.9 8.8 5
Slide 7: First quarter 2008 results
First quarter 2008 results (million Euro) 1Q 2008 1Q 2007 Change % Revenue 171.9 163.4 5.2 Gross Profit 116.1 109.0 6.5 as % of revenue 67.6% 66.7% SG&A Expenses 63.4 58.8 7.8 as % of revenue 36.9% 36.0% R&D Expenses 13.4 13.0 3.2 as % of revenue 7.8% 7.9% Other Income (Expense), net (1.2) (0.1) n.s
Slide 8: Net financial position
Net financial position (million Euro) 31 Mar 2008 31 Dec 2007 Change Cash and short-term financial 115.1 89.4 25.8 investments Bank overdrafts and short-term (102.5) (98.8) (3.7) loans Loans – due within one year (2.7) (2.9) 0.2 Loans – due after one year (84.1) (84.8) 0.7 NET FINANCIAL POSITION (74
Slide 9: Growth strategy
Growth strategy ¾ Develop our direct presence in Eastern Europe ¾ Reinforce our R&D pipeline ¾ Growing strategic interest in specialized therapies: development of Stanate®, development of new drugs for rare diseases ¾ Reinforce our presence in Germany, Spain and the UK through selective company and/
Slide 10: 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