Aft Pharmaceuticals Ltd. · NZX:AFT
Aft Pharmaceuticals — Shareholder Meeting (August 2024)
38 slides from Aft Pharmaceuticals's shareholder meeting presentation, Aug 2, 2024
Slide 1: 2024 Annual Shareholders Meeting
For personal use only 2024 ANNUAL SHAREHOLDERS MEETING AUCKLAND 2 AUGUST 2024 10.30AM
Slide 2: Important Notice
Important Notice For personal use only This presentation has been prepared by AFT Pharmaceuticals Limited (“AFT”), to provide a general overview of the performance of AFT. It is not prepared for any other purpose and must not be provided to any person other than the intended recipient. This presenta
Slide 3: Welcome
Welcome For personal use only David Flacks AFT Pharmaceuticals Chair AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 3
Slide 4: Directors
DIRECTORS For personal use only Dr Hartley Atkinson Anita Baldauf Andrew Lane CEO and Managing Director Independent Director Independent Director Dr Ted Witek Marree Atkinson Independent Director Chief of Staff, Executive Director AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 4
Slide 5: Agenda
Agenda For personal use only • Welcome • Chair address • Managing Director’s address • Questions • Resolutions • General business • Meeting close AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 5
Slide 6: Chair Address
For personal use only CHAIR ADDRESS
Slide 7: Record Revenue, Amid International Expansion and Portfolio Growth
Record Revenue, Amid International Expansion and Portfolio Growth HIGHLIGHTS • Full-year operating revenue up 25% to $195.4 million, extending a decades long record of revenue growth; For personal use only • EBITDA1 rose 22% to $26.2 million; operating profit rises 23% to $24.2 million, both at a re
Slide 8: Significant financial improvement since IPO
Significant financial improvement since IPO • Shareholder equity has grown steadily since FY19 amid an expanding medicine portfolio, continued investment in research and development and international expansion. For personal use only • Net debt has consistently shrunk as a proportion of equity since
Slide 9: Sustainability and Governance - Focused on What Matters
Sustainability and Governance - Focused on What Matters Sustainability For personal use only • We continued to evolve of our sustainability framework against best practice. This has included a further review of what is ‘material’ to AFT • We completed our first climate risk assessment, and our first
Slide 10: CEO Address
CEO Address For personal use only Dr Hartley Atkinson Co-Founder and Managing Director AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 10
Slide 11: Australia: Sales Growth Led by OTC Markets
Australia: Sales Growth Led by OTC Markets • Revenue rose 15% to $108.2 million; driven by OTC channel growth; AFT’s liposomal vitamins and Maxigesic are For personal use only the leaders in their respective segments • Operating profits down to $15.5 million from $19.3 million following increased ma
Slide 12: New Zealand: Growth in OTC
New Zealand: Growth in OTC • Revenue rises 11% to $48.7 million, with the OTC channel leading growth. For personal use only • Operating profit was $7.3 million compared to $8.1 million in the prior year. In part this reflects the increased marketing spend associated with product launches and brand s
Slide 13: Driving Australasian Growth With New Products
Driving Australasian Growth With New Products • A full portfolio of product launches for our Australasian For personal use only business, with over 60 targeted for FY25 to FY26 • During FY24 we launched 18 new products across Australasia including: • Extending Ferro Range • Ferrocare Pregnancy Multi
Slide 14: Asia: Maxigesic IV Drives Growth; Supported by OTC and Online
Asia: Maxigesic IV Drives Growth; Supported by OTC and Online • Operating revenue grew 57% to $10.7 million from $6.8 million, with growth driven by the hospital channel and strong For personal use only demand for Maxigesic IV, particularly in Korea. Chinese cross border e-commerce (CBEC) initiative
Slide 15: International – Expanding into New Markets
International – Expanding into New Markets INTERNATIONAL REVENUE COUNTRIES WHERE MAXIGESIC IS SOLD AND ORDERED For personal use only $30.0 80 73 $27.8 70 $25.0 61 60 $20.0 $15.0 50 46 COUNTRIES 43 $NZM $15.0 40 $11.7 28 30 $10.0 20 $7.0 20 $13.1 $12.8 $5.0 $9.9 7 9 $9.1 10 3 4 $4.7 2 $- 0 FY2020 FY2
Slide 16: AFT's Global Reach
AFT’s Global Reach Our medicines are now available in more than 70 countries around the world For personal use only AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 16
Slide 17: Expanding AFT's Global Footprint
Expanding AFT’s Global Footprint Opening new markets for our proprietary IP and in-licensed new products For personal use only AFT PHARM UK (70% AFT) • Launched Combogesic IV & Tablets • 6 approvals now (purchased 2 registration licenses to save time) • 4 registrations submitted & 8 being filed soon
Slide 18: Expanding AFT's Global Footprint
Expanding AFT’s Global Footprint Opening new markets for our proprietary IP and in-licensed new products For personal use only AFT PHARM CANADA (70% AFT) • Launched Maxigesic tablets through a partner, to launch Crystaderm FY25 through a partner • Approval for Maxigesic IV. To launch ex AFT Pharm Ca
Slide 19: Research and Development Investments Moving to Commercialisation
Research and Development Investments Moving to Commercialisation Several projects have exited (or are exiting) development during the year, and are moving to revenue generation COMMERCIALISATION PROGRESSING For personal use only • Maxigesic – nine dose forms and protected by patents. • Tablets/Oral
Slide 20: A Strong Research and Development Pipeline
A Strong Research and Development Pipeline AFT’s positive cashflows have positioned the company well to undertake and secure research and development projects either alone or in partnership with others. For personal use only PROJECT PATENT PARTNERSHIP AND APPLICATION DERMATOLOGY Pascomer 2040/20441
Slide 21: A Sophisticated Research and Development Programme
A Sophisticated Research and Development Programme For personal use only STRAWBERRY BIRTHMARKS R&D* • Identified drugs that inhibit growth strawberry birthmark cells • Identified synergistic combinations & derive IP – 2041 and 2044 patent filings • Advanced formulation work underway in Canada on 4 c
Slide 22: Outlook: Positioned to Drive Continued Growth in Revenue and Earnings
Outlook: Positioned to Drive Continued Growth in Revenue and Earnings • AFT is well positioned to build on its long record of growth supported by: For personal use only • The ongoing roll out of Maxigesic and its line extensions • Additional R&D products now being commercialized • The planned launch
Slide 23: Questions
For personal use only QUESTIONS
Slide 24: Resolutions
For personal use only 24 RESOLUTIONS
Slide 25: Resolution 1: Auditors Remuneration
Resolution 1: Auditors Remuneration For personal use only That the directors are authorised to fix the fees and expenses of Deloitte as auditor for the 2025 financial year. AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 25
Slide 26: Resolution 2: Re-election of David Flacks
Resolution 2: Re-election of David Flacks For personal use only That David Flacks be re-elected as a director of AFT Pharmaceuticals Limited. AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 26
Slide 27: Resolution 3: Re-election of Dr Ted Witek
Resolution 3: Re-election of Dr Ted Witek For personal use only That Dr Ted Witek be re-elected as a director of AFT Pharmaceuticals Limited. AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 27
Slide 28: Resolution 4: Election of Andrew Lane
Resolution 4: Election of Andrew Lane For personal use only That Andrew Lane be elected as a director of AFT Pharmaceuticals Limited. AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 28
Slide 29: Votes Cast Before the Meeting
Votes Cast Before the Meeting For personal use only RESOLUTION FOR AGAINST OPEN ABSTAIN 1. Auditors Fees and Expenses 2. Re-election of David Flacks 3. Re-election of Dr Ted Witek 4. Election of Andrew Lane * Percentage figures show proportion of total votes cast before the meeting AFT PHARMACEUTICA
Slide 30: Voting and General Business
VOTING AND GENERAL For personal use only BUSINESS 30
Slide 31: Meeting Close
For personal use only 31 MEETING CLOSE
Slide 32: Appendix
For personal use only APPENDIX
Slide 33: Appendix 2: History of AFT Pharmaceuticals
Appendix 2: History of AFT Pharmaceuticals For personal use only AFT was founded over 25 years ago by Dr Hartley and Marree Atkinson. Since then, AFT has remained an Atkinson-family controlled business and has grown organically into Australia and internationally The 2015 IPO raised funds to pursue a
Slide 34: Appendix 3: Australasian Product Portfolio
Appendix 3: Australasian Product Portfolio AFT has the #1 selling product (Maxigesic) in the Australian para-ibu1 combo pain relief. AFT’s portfolio includes a combination of over 150 proprietary, branded and generic products which address the following therapeutic areas: For personal use only Pain
Slide 35: Appendix 4: AFT Global Product Portfolio
Appendix 4: AFT Global Product Portfolio AFT is building the global presence of its proprietary and patented products through its network of licensees and distributors. For personal use only It continues the development of its portfolio of repurposed medicines: Maxigesic1, Pascomer, NasoSURF, and Cr
Slide 36: Appendix 5: Extending the Reach of the Maxigesic Portfolio
Appendix 5: Extending the Reach of the Maxigesic Portfolio AFT has the #1 selling product (Maxigesic) in the Australian para-ibu1 combo pain relief and is building the presence of the business internationally, through the adoption of existing products and the launch of new dose forms For personal us
Slide 37: Appendix 6: GAAP to Non-GAAP Reconciliation
Appendix 6: GAAP to Non-GAAP Reconciliation AFT’s standard profit measure prepared under New Zealand GAAP is net profit after tax. AFT has used the non-GAAP profit measure of EBITDA when discussing financial performance in this document. AFT directors and management believe that this For personal us
Slide 38: For More Information
FOR MORE INFORMATION Dr Hartley Atkinson Managing Director For personal use only Email: [email protected] Malcolm Tubby Chief Financial Officer Email: [email protected] AFT Pharmaceuticals Limited Level 1, 129 Hurstmere Road Takapuna, Auckland 0622 New Zealand www.aftpharm.com
AFT Pharmaceuticals — Shareholder Meeting (August 2024) on 6ix