2011 Full Year Results 28 th February, 2012 1 1 Disclaimer This - - PowerPoint PPT Presentation

2011 full year results
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2011 Full Year Results 28 th February, 2012 1 1 Disclaimer This - - PowerPoint PPT Presentation

2011 Full Year Results 28 th February, 2012 1 1 Disclaimer This document includes only summary information and does not intend to be comprehensive. Facts, figures and opinions contained herein, other than historical, are "forward-looking


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SLIDE 1

1 1

2011 Full Year Results

28th February, 2012

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SLIDE 2

2

Disclaimer

This document includes only summary information and does not intend to be comprehensive. Facts, figures and opinions contained herein, other than historical, are "forward-looking statements" and are based on the Company's current

  • expectations. Factors that could cause future results to differ materially from such expectations include, but are not limited

to: the success of the Company’s research strategy; the applicability of discoveries made therein; the difficulties inherent in the development of pharmaceuticals, including uncertainties as to the timing and results of preclinical studies; delayed achievements of milestones; reliance on collaborators; uncertainty as to whether the Company’s potential products will succeed in entering human clinical trials and uncertainty as to the results of such trials; uncertainty as to whether adequate reimbursement for these products will exist from the government, private healthcare insurers and third-party payers; and the uncertainties as to the extent of future government regulation of the pharmaceutical business. Therefore, those statements involve risks and uncertainties beyond the Company's control and consequently actual results may differ materially from those stated by such forward-looking statements. The Company expressly disclaims any obligation to review or update any forward-looking statements, targets or estimates contained in this document to reflect any change in the assumptions, events or circumstances on which such forward-looking statements are based unless so required by applicable law.

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SLIDE 3

3

Key Operational Highlights

  • Zeltia breaks into full year profitability - FY2011 EBITDA €13.2m (2010: -€3.9m)
  • Biopharmaceutical revenues continue to outpace Consumer Chemicals revenue on the back of

steady Yondelis sales

– Reimbursement agreements continue to progress globally – New agreement totalling US$110 million signed with Jansen in December to intensify development of Yondelis in USA – Yondelis granted orphan drug status in Japan for soft tissue sarcoma – Sales growth impeded by European macro economic weakness

  • Pleasing pipeline progression

– Aplidin: Recruitment complete for phase III pivotal trial for the treatment of Relapsed Multiple Myeloma – PM01183: Recruitment commenced for 2x phase II trials in pancreatic cancer and platinum-refractory/resistant ovarian cancer – Tideglusib/Nypta: Recruitment complete for ARGO trial in Alzheimer’s disease. – RNAi: Phase I trial commenced for 2nd product (SYL1001) for dry eye syndrome

  • Consistent commitment to R&D - €56.7m utilised in 2011 (2010: €55.7m)
  • Consumer Chemicals division slightly impacted by challenging economic environment - revenue

down 2.76% at €71.2m)

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SLIDE 4
  • Positive net profit in 2011 of €4m (2010: -€7m)
  • Group EBITDA of €13m (2010: -€3.9m)
  • Yondelis gross revenues up 12% to €80.6m (2010 : €72.2m)
  • 11% growth in total income (sales + other income)
  • Biopharma revenues represents 53% of Group (2010: 52%)
  • R&D investment slightly increased to €56.7m (2010: €55.7m)

Key Financial highlights for the period

4

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SLIDE 5

5

Zeltia Group Total Income

11%

€ / millions

5

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SLIDE 6

Sales by Segment

72,3 74,2 7,1 6,5

10 20 30 40 50 60 70 80 90 2010 2011

Pharmamar Genómica

BioPharma Segment Consumer Chemical Segment

56 54,3 17,2 17

10 20 30 40 50 60 70 80 2010 2011

Zelnova Xylazel 72,3 74,2 7,1 6,5

10 20 30 40 50 60 70 80 90 2010 2011

Pharmamar Genómica

2011

€ / millions € / millions

6

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SLIDE 7

€ / millions

Net Sales by Geography

BioPharma Consumer Chemicals

7

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SLIDE 8

Other Income

€ / millions

8

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SLIDE 9

Operating Costs

55,7 56,7 42,8 43,5 19,3 21,9 8,6 9,2

20 40 60 80 100 120 140 2010 2011

R&D Sales & Marketing G&A Other

€ / millions

9

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SLIDE 10

Stable R&D Investment for Future Growth

€ / millions

10

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SLIDE 11

Consolidated EBITDA – Maiden Full Year Profitability

  • 15,3
  • 3,9

13,2

  • 20
  • 15
  • 10
  • 5

5 10 15 2009 2010 2011

€ / millions

11

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SLIDE 12
  • 40,6
  • 25,9
  • 7,3

4,7

  • 45
  • 30
  • 15

2008 2009 2010 2011 50 100 150 2007 2008 2009 2010 2011 Sales Net Attributable Result

Evolution of Operating Profitability

€ / millions

12

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SLIDE 13

13

  • Long term debt of €83m contains €22.6m

interest-free R&D loans

  • Group short term debt decreased 16.2% to

€52.7m

  • Mix of commercial and government

lending leads to favourable debt structure lowering interest rates

  • Group cash and equivalents amounts to

€49.3m

Group Debt Position

Evolution of Debt Levels

85,3 83,1 62,9 52,7 25 50 75 100 125 2010 2011

Long term debt Short term debt

€m

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SLIDE 14

Value Drivers in 2012

  • Accelerating profitability

– Continued growth in Yondelis sales in Europe – Potential approval in Europe for generic of Doxil – Jansen agreement provides new impetus for Yondelis in US

  • Further developments of commercial infrastructure as sales gain

in importance for the Group

  • Continued commitment to the Research & Development processes

– Multiple pipeline assets progressing through the clininc

14

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SLIDE 15

Thank You

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SLIDE 16

Q&A

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SLIDE 17

1 1

2011 Full Year Results

28th February, 2012

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SLIDE 18

2

Disclaimer

This document includes only summary information and does not intend to be comprehensive. Facts, figures and opinions contained herein, other than historical, are "forward-looking statements" and are based on the Company's current

  • expectations. Factors that could cause future results to differ materially from such expectations include, but are not limited

to: the success of the Company’s research strategy; the applicability of discoveries made therein; the difficulties inherent in the development of pharmaceuticals, including uncertainties as to the timing and results of preclinical studies; delayed achievements of milestones; reliance on collaborators; uncertainty as to whether the Company’s potential products will succeed in entering human clinical trials and uncertainty as to the results of such trials; uncertainty as to whether adequate reimbursement for these products will exist from the government, private healthcare insurers and third-party payers; and the uncertainties as to the extent of future government regulation of the pharmaceutical business. Therefore, those statements involve risks and uncertainties beyond the Company's control and consequently actual results may differ materially from those stated by such forward-looking statements. The Company expressly disclaims any obligation to review or update any forward-looking statements, targets or estimates contained in this document to reflect any change in the assumptions, events or circumstances on which such forward-looking statements are based unless so required by applicable law.

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SLIDE 19

3

Key Operational Highlights

  • Zeltia breaks into full year profitability - FY2011 EBITDA €13.2m (2010: -€3.9m)
  • Biopharmaceutical revenues continue to outpace Consumer Chemicals revenue on the back of

steady Yondelis sales

– Reimbursement agreements continue to progress globally – New agreement totalling US$110 million signed with Jansen in December to intensify development of Yondelis in USA – Yondelis granted orphan drug status in Japan for soft tissue sarcoma – Sales growth impeded by European macro economic weakness

  • Pleasing pipeline progression

– Aplidin: Recruitment complete for phase III pivotal trial for the treatment of Relapsed Multiple Myeloma – PM01183: Recruitment commenced for 2x phase II trials in pancreatic cancer and platinum-refractory/resistant ovarian cancer – Tideglusib/Nypta: Recruitment complete for ARGO trial in Alzheimer’s disease. – RNAi: Phase I trial commenced for 2nd product (SYL1001) for dry eye syndrome

  • Consistent commitment to R&D - €56.7m utilised in 2011 (2010: €55.7m)
  • Consumer Chemicals division slightly impacted by challenging economic environment - revenue

down 2.76% at €71.2m)

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SLIDE 20
  • Positive net profit in 2011 of €4m (2010: -€7m)
  • Group EBITDA of €13m (2010: -€3.9m)
  • Yondelis gross revenues up 12% to €80.6m (2010 : €72.2m)
  • 11% growth in total income (sales + other income)
  • Biopharma revenues represents 53% of Group (2010: 52%)
  • R&D investment slightly increased to €56.7m (2010: €55.7m)

Key Financial highlights for the period

4

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SLIDE 21

5

Zeltia Group Total Income

11%

€ / millions

5

slide-22
SLIDE 22

Sales by Segment

72,3 74,2 7,1 6,5

10 20 30 40 50 60 70 80 90 2010 2011

Pharmamar Genómica

BioPharma Segment Consumer Chemical Segment

56 54,3 17,2 17

10 20 30 40 50 60 70 80 2010 2011

Zelnova Xylazel 72,3 74,2 7,1 6,5

10 20 30 40 50 60 70 80 90 2010 2011

Pharmamar Genómica

2011

€ / millions € / millions

6

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SLIDE 23

€ / millions

Net Sales by Geography

BioPharma Consumer Chemicals

7

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SLIDE 24

Other Income

€ / millions

8

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SLIDE 25

Operating Costs

55,7 56,7 42,8 43,5 19,3 21,9 8,6 9,2

20 40 60 80 100 120 140 2010 2011

R&D Sales & Marketing G&A Other

€ / millions

9

slide-26
SLIDE 26

Stable R&D Investment for Future Growth

€ / millions

10

slide-27
SLIDE 27

Consolidated EBITDA – Maiden Full Year Profitability

  • 15,3
  • 3,9

13,2

  • 20
  • 15
  • 10
  • 5

5 10 15 2009 2010 2011

€ / millions

11

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SLIDE 28
  • 40,6
  • 25,9
  • 7,3

4,7

  • 45
  • 30
  • 15

2008 2009 2010 2011 50 100 150 2007 2008 2009 2010 2011 Sales Net Attributable Result

Evolution of Operating Profitability

€ / millions

12

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SLIDE 29

13

  • Long term debt of €83m contains €22.6m

interest-free R&D loans

  • Group short term debt decreased 16.2% to

€52.7m

  • Mix of commercial and government

lending leads to favourable debt structure lowering interest rates

  • Group cash and equivalents amounts to

€49.3m

Group Debt Position

Evolution of Debt Levels

85,3 83,1 62,9 52,7 25 50 75 100 125 2010 2011

Long term debt Short term debt

€m

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SLIDE 30

Value Drivers in 2012

  • Accelerating profitability

– Continued growth in Yondelis sales in Europe – Potential approval in Europe for generic of Doxil – Jansen agreement provides new impetus for Yondelis in US

  • Further developments of commercial infrastructure as sales gain

in importance for the Group

  • Continued commitment to the Research & Development processes

– Multiple pipeline assets progressing through the clininc

14

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SLIDE 31

Thank You

slide-32
SLIDE 32

Q&A