Almirall Sa · BME:ALM
Almirall Sa — H1 2016 Earnings Presentation
25 slides from Almirall Sa's earnings presentation, Jul 26, 2016
Slide 1: Half Year 2016 Financial Results and Business Update
Half Year 2016 Financial Results and Business Update July 26th 2016
Slide 2: Disclaimer
Disclaimer This document has been prepared by Almirall, S.A. (the “Company”) exclusively for use during the presentation. This document includes only summary information and does not intend to be comprehensive. This document may not be disclosed or published nor used by any person or entity or any r
Slide 3: Agenda: Half Year 2016 Financial Results
Agenda: Half Year 2016 Financial Results H1 2016 Highlights Eduardo Sanchiz, Chief Executive Officer Financial review Daniel Martínez, Executive Vice President, Finance, CFO Derma review Alfonso Ugarte, Executive Vice President, Global Commercial Strategy R&D evolution Thomas Eichholtz, Executive Vi
Slide 4: Half Year 2016 Opening Remarks
Half Year 2016 Opening Remarks Eduardo Sanchiz CEO 4
Slide 5: Solid progress in H1 2016
Solid progress in H1 2016 • Solid first half 2016 performance driven by Dermatology, on track to meet FY guidance • Strong Derma performance in EU. Good progress in US despite challenging environment • ThermiGen and Poli Group integration on track and performing in line with expectations • Continued
Slide 6: Half Year 2016 Financial Highlights
Half Year 2016 Financial Highlights Daniel Martinez Executive Vice President, Finance, CFO 6
Slide 7: Strong performance in first half 2016
Strong performance in first half 2016 Acceleration in sales growth in Q2 in line with the phasing STRONG guidance (reiterated) FINANCIAL PERFORMANCE Total Revenues growth of +5.0% Strong Net Sales growth +8.0% Continued improvement in profit margins vs. H1´15 EXECUTION Dermatology Net Sale
Slide 8: Income Statement H1 16 vs. H1 15
Income Statement H1 16 vs. H1 15 A B A. Total revenues and Net Sales accelerating vs Q1 16 and H1 15. Growth of +5% and +8% B. Gross margin improved due to product mix. C. Significant increase versus last year C 8
Slide 9: Financial guidance 2016 reiterated
Financial guidance 2016 reiterated (1) Guidance 2016 Cumulative Phasing by quarter growth % Total Revenues Net Sales EBITDA Q1 Q2 Q3 Q4 YTD YTD YTD YTD P&L Item Guidance 2016 vs. 2015 Total Revenue (2) Grow at high single digit Net Sales Grow at high single digit (1) In constant exchange rates (2) N
Slide 10: Balance Sheet H1 2016
Balance Sheet H1 2016 A A. Increase due to Goodwill and identified assets of Poli Group and ThermiGen B B. Cash decrease due to investment in new acquisitions, offset by Mexico divestment collections Net cash position: + Cash and cash equivalents 466.2 Million - Financial Debt 320.0 Million - Pensio
Slide 11: Cash Flow H1 2016
Cash Flow H1 2016 A. Includes the adjustments related to the gains on disposal of México and AZ related A income B. Investments in Poli Group and ThermiGen, offset by collections of the disposal of B México C C. Gross Dividend payment, June 1st 11
Slide 12: Dermatology & Market Overview
Dermatology & Market Overview Alfonso Ugarte Executive Vice President, Global Commercial Strategy 12
Slide 13: Strong Derma sales growth in H1 2016
Strong Derma sales growth in H1 2016 Dermatology Net Sales grew by 13.3% Dermatology now accounts for 43% of total Net Sales (versus 41% in H1´15) Europe sales increased by +27% (YOY) driven by the Actinic Keratosis franchise (Solaraze® & Actikerall®), and Ciclopoli® Aqua former portfolio perf
Slide 14: H1 2016 Derma sales performance
H1 2016 Derma sales performance 14
Slide 15: Synergies: Poli's additional sources of value
New Business – The value beyond the current business Poli's additional sources of VALUE Short-term Mid to long-term Partners’ recovery Building Internal plan in MC OTC manufacture territories Business Synergies Processes Roll-out of Use of R&D & portfolio & technology Functions pipeline 15
Slide 16: Summary of recent Patagonia transaction
Summary of recent Patagonia transaction Congenital ichthyosis is a family of rare skin disorders affecting around 160,000 and 100,000 patients in the European Union and the United States, respectively PAT-001 is expected to enter Phase II studies in Q4 2016 and has been granted with Orphan Drug
Slide 17: R&D evolution
R&D evolution Thomas Eichholtz Executive Vice President, Research & Development, CSO 17
Slide 18: Good progress with Pipeline
Good progress with Pipeline Phase I/IIa Phase IIb Phase III Registration Repositioning (LAS41008) Psoriasis (LAS41010) Atopic Dermatitis HPCH (P3058) Reformulation Onychomycosis (PAT001) HPCH (P3073) Ichthyosis Nail Psoriasis HPCH (P3074) Andr. Alopecia NBEs NCEs (ADP31415) Pemphigus vulgaris (AQ401
Slide 19: R&D pipeline progress
R&D pipeline progress • ADP18998 variation submitted: extension to small field treatment for Actikerall • LAS41010 for Atopic Dermatitis (medical device) approval expected 3/4Q17 • LAS41008 DMF for Psoriasis progressing in the registration process, approval expected 2Q17 • 3 Phase III programs from
Slide 20: H1 2016 Key takeaways
H1 2016 Key takeaways Eduardo Sanchiz CEO 20
Slide 21: Closing remarks
Closing remarks We have delivered a strong H1 on track towards our yearly guidance Acted consistently with our strategic direction and towards our Vision Q2 active on executing, integrating, advancing pipeline, new launches (US) and BD Continue to develop capabilities and to bring derma expe
Slide 22: Financial Appendixes
Financial Appendixes 22
Slide 23: Sales breakdown by Region
Sales breakdown by Region By Region 23
Slide 24: Breakdown of the core business
Breakdown of the core business Proprietary products In-licensing products 24
Slide 25: For further information, please contact
For further information, please contact: Pablo Divasson del Fraile Investor Relations Tel. +34 93 291 3087 [email protected] Or visit our website: www.almirall.com 25