Recordati S.p.a. · MIL:REC

Recordati — FY2018 Earnings Presentation

11 slides from Recordati's earnings presentation, Feb 11, 2019

  1. Slide 1: Preliminary FY results 2018

    2018 Preliminary FY results CONFERENCE CALL – 11 FEBRUARY 2019

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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 (

  8. 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

  9. 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

  10. 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

  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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