Ipsen Sa · EURONEXT:IPN
Ipsen Sa — FY2005 Earnings Presentation
17 slides from Ipsen Sa's earnings presentation, Mar 17, 2006
Slide 1: Ipsen 2005 results Conference Call
Ipsen 2005 results Conference Call 17th March, 2006
Slide 2: Disclaimer
Disclaimer This presentation includes only summary information and does not purport to be comprehensive. Forward-looking statements, targets and estimates contained herein are for illustrative purposes only and are based on management’s current views and assumptions. Such statements involve known an
Slide 3: Ipsen at a Glance
Ipsen today Ipsen at a Glance An innovation driven International Specialty Pharmaceutical Group with more than 75 years of operations Diversified portfolio of more than 20 field proven products marketed in more than 100 countries Longstanding presence in primary care (gastroenterology, cognitive
Slide 4: Ipsen: balanced portfolio and international business
Ipsen today Ipsen: balanced portfolio and international business 2005 Net Sales by Therapeutic Area 2005 Net Sales by Geographical Area 3 Targeted RoW 5 Major Western Other 4.7% Therapeutic Areas 12.9% European Countries 48.5% 67.8% Cognitive Disorders Oncology 15.0% 26.1% Other Europe 19.3% France
Slide 5: Clear strategy and strong development model
Ipsen today Clear strategy and strong development model Mission Statement To be a worldwide best-in-class provider of innovative and well-tolerated drugs, addressing unmet medical needs in its targeted therapeutic areas Strategic Priorities n GROW top-line and o OPTIMISE returns of p GLOBALISE throu
Slide 6: R&D excellence: a unique combination of capabilities
Profile and strategy R&D excellence: a unique combination of capabilities The Four Technological Platforms Peptide Protein Medicinal Advanced Drug Engineering Engineering Chemistry Delivery Systems Improve the therapeutic Improve the therapeutic Discover enzyme inhibitors for Create and deve
Slide 7: R&D excellence: a rich pipeline to fuel Ipsen future growth: 7 NCEs
Profile and strategy R&D excellence: a rich pipeline to fuel Ipsen future growth: 7 NCEs Compound Indication Current Status Combination and longer release Decapeptyl Phase II/III formulation BN 83495 (STX 64) Post-menopausal breast cancer Phase I Oncology BN 2629 (SJG-136) Advanced metastatic cancer
Slide 8: Key Figures
Solid financial structure and recurring cash flow generation Key Figures In € m 2004 2005 Growth % 2004-2005 Organic Sales 751.5 807.1 7.4% EBITDA 194.5 214.9 10.5% % of Sales 25.9% 26.6% Operating Income 156.5 185.3 18.4% % of Sales 20.8% 23.0% Net Income (Group share) 117.6 148.6 26.4% % of Sales
Slide 9: Profitable growth in 2005
Solid financial structure and recurring cash flow generation Profitable growth in 2005 ……. 2004-2005 In € m 2004 2005 Change Key Highlights Dynamic sales growth (+7.4%) Sales 751.5 807.1 +7.4% Increase in other revenues: Other Revenues 63.3 80.7 +27.6% – Strong royalties (Kogenate – in 2005 Tota
Slide 10: Driven by specialist products and international markets
Solid financial structure and recurring cash flow generation … driven by specialist products and international markets. Net sales as of Dec 2005 by therapeutic area Net sales as of Dec 2005 by geographic area 751.5 +7.4% 807.1 751.5 +7.4% 807.1 391.2 354.3 +10.4% 547.3 519.7 +5.3% +4.4% 361.7 377.7
Slide 11: Evolution of Sales: a pan European network
Solid financial structure and recurring cash flow generation Evolution of Sales: a pan European network Evolution of Sales by Geography Key Highlights 2004 Sales Remains the Group’s core area of activity Rest of the World Fuelled by specialist products (Decapeptyl, 12.8% Somatuline Autogel, Dysp
Slide 12: Solid growth of operating income in a context of growing R&D and G&A costs
Solid financial structure and recurring cash flow generation Solid growth of operating income in a context of growing R&D and G&A costs…. Cost of Goods Sales Evolution (€m and % of Sales) SG&A Evolution (€m and % of Sales) 44.0% 45.1% 330.4 364.1 22.0% 21.2% 7.6% 8.5% 165.7 171.0 36.4% 36.6% 2004 20
Slide 13: A reinforced financial flexibility as of 31 December 2005
Solid financial structure and recurring cash flow generation A reinforced financial flexibility as of 31 December 2005 Assets (€m) Liabilities and Shareholders’ Equity (€m) 31-Dec-04 31-Dec-05 31-Dec-04 31-Dec-05 Goodwill 188.8 188.8 Shareholders’ Equity 313.8 619.8 Tangible Assets 177.8 187.8 Minor
Slide 14: Solid and recurring cash-flow generation
Solid financial structure and recurring cash flow generation Solid and recurring cash-flow generation ( in M€) 2004 2005 Improvement of net income Cash Flow before change in working capital needs 145.7 173.0 Change in working capital needs (21.0) 3.9 Increase of Milestones Net cash provided by o
Slide 15: Evolution of Ipsen Share price vs. Market since 07 December 2005
Evolution of Ipsen Share price vs. Market since 07 December 2005 150 1200000 140 1000000 130 800000 120 600000 110 400000 100 200000 90 0 . . . . . . . . . . 17 . 22 . 27 . . s s . . c. s 10 s . . 14 . nv nv nv nv nv éc éc éc éc éc nv nv vr vr vr vr vr vr vr ar ar ar ar dé -fé -fé -fé -fé fé fé fé -
Slide 16: Key drivers of future performance
Closing remarks Key drivers of future performance Develop existing Targeted Therapeutic Area product portfolio – Geographic expansion: focus on the US – Develop new indications: aesthetic medicine indications for Botulinum Toxin Improve resilience of primary care products through strategic actio
Slide 17: Conclusion
Closing remarks Conclusion 1. Balanced and resilient product portfolio A sound business platform of primary care products Focused presence in rapidly growing targeted therapeutic areas 2. International footprint 3. R&D excellence 4. Successful strategy of R&D and commercial partnerships 5. Stron