Laboratorios Farmaceuticos Rovi, S.a. · BME:ROVI
Laboratorios Farmaceuticos Rovi — 9M 2024 Earnings Presentation
26 slides from Laboratorios Farmaceuticos Rovi's earnings presentation, Nov 7, 2024
Slide 1: First nine months 2024 Financial Results
First nine months 2024 FINANCIAL RESULTS 7 NOVEMBER 2024
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: 2024 first nine months financial results - highlights
2024 first nine months financial results - highlights Operating revenue was €564.6 Mn in 9M 2024, a 5% decrease on 9M 2023, mainly due to: (i) lower revenues from the manufacture of the COVID-19 vaccine in comparison to 9M 2023, when ROVI had booked higher income related to the production of the "pa
Slide 4: Conclusion of the strategic review, execution of the share capital reduction and Risvan
Conclusion of the strategic review, execution of the share capital reduction and Risvan® ROVI completes the strategic review of its CDMO business • In October 2024, after the assessment of strategic alternatives for its assets including a potential corporate transaction of ROVI relating to its third
Slide 5: Operating Results
OPERATING RESULTS ROVI
Slide 6: 9M 2024 operating revenue variation
Okedi®, Neparvis®, Bemiparin and the contrast agents and other hospital products division, strategic products within the specialty pharma business 9M 2024 operating revenue variation -5% 594.9 3.8 11.3 4.4 0.8 4.6 564.6 -6.6 -3.0 -1.0 -10.3 -34.4 €Mn 9M 2023 Enoxaparin Bemiparin Okedi® Neparvis® Vol
Slide 7: Evolution of EBITDA and net profit in the first nine months of a transition year
Evolution of EBITDA and net profit in the first nine months of a transition year EBITDA Margin -2% -4% 200 28.8% 29.6% 30% 150 171.2 167.2 20% €Mn 100 118.8 113.5 10% 50 EBITDA Net Profit EBITDA Net Profit 0 0% 9M 2023 9M 2024 • EBITDA was €167.2 Mn in 9M 2024, a decrease of 2% compared to 9M 2023.
Slide 8: ROVI aspires to become a benchmark player in the LMWH field worldwide
ROVI aspires to become a benchmark player in the LMWH field worldwide Prescription-based sales Heparin franchise sales LMWH sales -0.2% -2% -6% 272.7 272.1 181.7 108.1 177.8 101.6 +6% 71.1 67.3 €Mn €Mn €Mn Enoxaparin Bemiparin biosimilar 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 • Sales of pre
Slide 9: ROVI's internationalisation strategy as one of its pillars of future growth
ROVI's internationalisation strategy as one of its pillars of future growth • Well positioned to drive long-term leadership in low-molecular-weight heparins (LMWH). • Sales outside Spain decreased 9% in 9M 2024 mainly due to the decrease in sales from the CDMO business. • Sales outside Spain represe
Slide 10: Growth evolution of Enoxaparin Biosimilar (Becat)
Growth evolution of Enoxaparin Biosimilar (Becat®) Well-established network to minimize time-to- Commercial Strategy market In the long-term, ROVI markets enoxaparin biosimilars tend to biosimilar Becat® directly in 9 Direct marketed reach a… Approved in European countries… in Germany, UK, Italy, Fr
Slide 11: Okedi, Neparvis and contrast agents, key drivers of specialty pharma performance
Okedi®, Neparvis® and contrast agents and other hospital products, key drivers of the performance of the specialty pharma business 50 +13% +14% 40 38.1 38.4 33.7 33.8 30 +126% -4% €Mn 20.3 19.8 18.9 20 -30% 9.0 10.0 10 7.0 0 (1) (2) Okedi® Neparvis® Orvatez® Volutsa® Contrast agents and other hospit
Slide 12: Value added CDMO services
Value added CDMO services CDMO business CDMO evolution ROVI and Moderna continue along the path of their long-term collaboration: • ROVI collaborates with Moderna in the end-to-end supply chain, including the active substance at the Granada plant and fill-and-finish at the Madrid facilities. For the
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 by Pop PK(2) model & Expected high injection simula
Slide 14: Outlook 2025
Outlook 2025 2025 operating revenue growth rate Decrease by a mid-single-digit percentage vs 2024 The key growth levers in 2025 Specialty Pharma CDMO Marketing of Okedi® in Europe New customers to be acquired Launch of Risperidone ISM® in new Agreement with Moderna countries LMWH franchise Capacity
Slide 15: Financial Results
FINANCIAL RESULTS ROVI
Slide 16: Revenue level affected by the performance of the CDMO business
Revenue level affected by the performance of the CDMO business Operating revenue LMWH sales -5% -2% 200 175.4 172.6 594.9 4.8 564.6 150 -0.6 -34.4 108.1 101.6 100 €Mn €Mn 50 67.3 71.1 0 9M 2023 Prescription Contrast agents CDMO 9M 2024 9M 2023 9M 2024 operating products & hospital operating revenue
Slide 17: Gross margin positively impacted by the CDMO division and Okedi
Gross margin positively impacted by the CDMO division and the increased contribution of sales of Okedi® Gross profit and Gross margin Gross margin impacts Gross profit increased 2% to €359.0 Mn in 9M 2024. 400 70% Gross margin was 63.6% in 9M 2024, an increase of 4.7 pp on 9M 2023. 350.6 359.0 This
Slide 18: SG&A and commitment to R&D
SG&A and commitment to R&D SG&A expenses R&D expenses 200 27.4% +7% 30.9% 30% 9M 2024 17.4 100 20% +5% €Mn 162.7 174.3 €Mn 10% 9M 2023 16.5 0 0% 9M 2023 9M 2024 0 10 20 SG&A SG&A/Operating revenue SG&A expenses increased by 7% at €174.3 Mn in 9M 2024: R&D expenses increased 5% to €17.4 Mn in 9M 2024
Slide 19: EBITDA, EBIT & Net Profit analysis
EBITDA, EBIT & Net Profit analysis EBITDA EBIT -2% -4% 28.8% 29.6% 200 200 153.4 146.6 20% 171.2 167.2 €Mn €Mn 0% 100 10% 0 0 0% 9M 2023 9M 2024 9M 2023 9M 2024 EBITDA EBITDA Margin EBIT EBIT margin Net Profit 200 171.2 8.4 0.02 167.2 -11.6 -0.9 -4% 200 €Mn €Mn 100 118.8 113.5 100 0 EBITDA Gross SG&
Slide 20: PRE-R&D analysis
PRE-R&D analysis(1) -2% -3% -3% 200 187.8 184.6 170.0 164.0 150 131.6 127.1 €Mn 100 50 0 EBITDA pre-R&D EBIT pre-R&D Net profit pre-R&D 9M 2023 9M 2024 • EBITDA “pre-R&D” decreased by 2%, from €187.8 Mn in 9M 2023 to €184.6 Mn in 9M 2024. • EBIT “pre-R&D” decreased by 3%, from €170.0 Mn in 9M 2023 t
Slide 21: Capital expenditure and Cash Flow
Capital expenditure and Cash Flow CAPEX evolution Cash Flow evolution 45 +26% 129.3 -64.2 33.8 €Mn 30 26.8 -33.8 -56.5 €Mn -38.6 2.7 15 -47.7 -108.8 Net debt Net cash Working Capex Dividends Treasury Other Net debt FY 2023 from capital paid Shares 9M 2024 operating 0 activities 9M 2023 9M 2024 (exc.
Slide 22: Debt analysis
Debt analysis 50.0 Debt breakdown by source (%) Debt maturities 45.5 40.0 Total debt 33.8 €128.3 Mn 13% 30.0 8% 21.9 21.2 Financial liabilities for leases €Mn Debt with public administration 20.0 Bank borrowings 79% 10.0 5.9 0.0 2024 2025 2026 2027 2028 + • Debt with public administration represente
Slide 23: Completion of the Share Buyback Program and share capital reduction
Completion of the Share Buyback Program and share capital reduction Purpose and scope To redeem own shares of ROVI (share capital reduction) while, at the same time, boost the remuneration of the ROVI shareholder by increasing the profit per share Duration 26 July 2023 for a twelve-month period Maxi
Slide 24: News flow 2024-2025
News flow 2024-2025 Sales of biosimilar of enoxaparin Specialty Additional new products to be launched pharma Granting by the competent local authorities of the marketing authorisation of an enoxaparin biosimilar outside Europe Evolution of Moderna’s products manufacturing CDMO Announcement of new c
Slide 25: Alternative performance measures
Alternative performance measures In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRSs”) taken from our financial statements, this document includes certain alternative performance measures (“APMs”) as defined in the ESMA (European S
Slide 26: For further information, please contact
For further information, please contact: Juan López-Belmonte Chairman and Chief Executive Officer www.rovi.es Javier López-Belmonte Deputy Chairman and Chief Financial Officer www.rovi.es Marta Campos Head of Finance +34 91 2444422 mcampos@rovi.es www.rovi.es Beatriz de Zavala Investor Relations Ana
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