Slide 1: Preliminary FY results 2018
2018 Preliminary FY results CONFERENCE CALL – 11 FEBRUARY 2019
Slide 2: Full year 2018 highlights
Full year 2018 highlights • Revenue € 1,352.2 million, up 5.0% • EBITDA € 499.1 million or 36.9% of sales, up 9.8% • Operating income (EBIT) € 442.2 million or 32.7% of sales, up 8.8% • Net income € 312.4 million or 23.1% of sales, up 8.2% • Net debt € 588.4 million, an increase of € 206.6 million a
Slide 3: Main product sales
Main product sales Corporate products including drugs for rare diseases account for 67,7% of revenue (million Euro) 2018 2017 Change % Zanidip® (lercanidipine) 120.8 120.6 0.1 Zanipress® (lercanidipine+enalapril) 59.4 69.2 (14.2) Urorec® (silodosin) 101.1 92.8 9.0 Livazo® (pitavastatin) 46.4 39.2 18
Slide 4: A diversified product portfolio
A diversified product portfolio Other corporate products 12.5% Seloken®/Logimax® 7.3% Drugs for rare diseases 15.9% Livazo® 3.4% Urorec® 7.5% Zanipress® 4.4% OTC 15.7% Zanidip® 8.9% Subsidiaries’ local product portfolios 20.4% Pharmaceutical chemicals 3.0% Ortoton® (methocarbamol) - Germany 2.8% Oth
Slide 5: Composition of revenue by geography
Composition of revenue by geography (million Euro) 2018 2017 Change % Italy 265.7 251.0 5.8 Germany 136.8 122.4 11.7 France 131.8 124.7 5.7 Russia, other CIS countries and Ukraine 105.6 107.0 (1.3) U.S.A. 101.0 109.6 (7.8) Spain 88.9 82.2 8.1 Turkey 75.0 86.0 (12.9) Portugal 41.7 40.4 3.1 Other CEE
Slide 6: Geographical breakdown of pharmaceutical revenue
Geographical breakdown of pharmaceutical revenue Other international sales 15.2% (sales to licensees, exports, sales in ROW) Italy 20.3% North Africa 3.1% Other W. Europe 4.5% Germany 10.4% Other CEE 5.0% Portugal 3.2% Turkey 5.7% France 10.0% Spain 6.8% Russia, other CIS U.S.A. 7.7% and Ukraine 8.1
Slide 7: Full year 2018 results
Full year 2018 results Further margin growth (million Euro) 2018 2017 Change % Revenue 1,352.2 1,288.1 5.0 Gross Profit 956.7 905.4 5.7 as % of revenue 70.7 70.3 SG&A Expenses 401.2 396.4 1.2 as % of revenue 29.7 30.8 R&D Expenses 109.7 100.3 9.4 as % of revenue 8.1 7.8 Other Income (Expense), net (
Slide 8: Full year 2018 results: Revenue, EBITDA, EBIT by operating segment
Full year 2018 results Operating Segments Treatments for rare EBIT diseases 23.4% Revenue Treatments for rare diseases 15.9% Specialty & primary care 76.6% Treatments for rare diseases 21.7% EBITDA Specialty & primary care 84.1% Margin on sales: Specialty & primary Treatments for rare diseases: EBIT
Slide 9: Net financial position
Net financial position 31 Dec 2018 31 Dec 2017 Change (million Euro) Cash and short-term financial investments 198.0 302.1 (104.0) Bank overdrafts and short-term loans (16.9) (16.6) (0.3) Loans – due within one year (135.3) (51.7) (83.6) Loans – due after one year (634.2) (615.6) (18.7) NET FINANCIA
Slide 10: Financial projections
Financial projections 2019 targets - growth continues 2018 2019 (million Euro) Actual Targets Revenue 1,352.2 1,430 - 1,450 EBITDA 499.1 520 - 530 Operating income (EBIT) 442.2 460 - 470 Net Income 312.4 330 - 335 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