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 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. 2
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 2 nd 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) 3
Key Financial highlights for the period • 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) 4
Zeltia Group Total Income € / millions 11% 5 5
Sales by Segment Consumer Chemical Segment BioPharma Segment € / millions € / millions 80 90 90 80 80 70 6,5 6,5 7,1 7,1 17,2 17 70 70 60 60 60 50 50 50 40 40 40 74,2 74,2 72,3 72,3 30 56 54,3 30 30 20 20 20 10 10 10 0 0 0 2010 2011 2010 2010 2011 2011 Zelnova Xylazel Pharmamar Pharmamar Genómica Genómica 2011 6
Net Sales by Geography € / millions BioPharma Consumer Chemicals 7
Other Income € / millions 8
Operating Costs 140 € / millions 9,2 8,6 120 21,9 19,3 100 80 43,5 42,8 60 40 56,7 55,7 20 0 2010 2011 R&D Sales & Marketing G&A Other 9
Stable R&D Investment for Future Growth € / millions 10
Consolidated EBITDA – Maiden Full Year Profitability € / millions 13,2 15 10 5 0 -5 -3,9 -10 -15 -15,3 -20 2009 2010 2011 11
Evolution of Operating Profitability € / millions 150 100 Sales 50 0 2007 2008 2009 2010 2011 4,7 0 -7,3 Net -15 -25,9 Attributable -30 -40,6 Result -45 2008 2009 2010 2011 12
Group Debt Position • Long term debt of €83m contains €22.6m interest-free R&D loans Evolution of Debt Levels €m • Group short term debt decreased 16.2% to 125 €52.7m 100 85,3 83,1 • Mix of commercial and government 75 62,9 52,7 lending leads to favourable debt structure 50 lowering interest rates 25 • Group cash and equivalents amounts to 0 2010 2011 €49.3m Long term debt Short term debt 13
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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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 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. 2
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 2 nd 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) 3
Key Financial highlights for the period • 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) 4
Zeltia Group Total Income € / millions 11% 5 5
Sales by Segment Consumer Chemical Segment BioPharma Segment € / millions € / millions 80 90 90 80 80 70 6,5 6,5 7,1 7,1 17,2 17 70 70 60 60 60 50 50 50 40 40 40 74,2 74,2 72,3 72,3 30 56 54,3 30 30 20 20 20 10 10 10 0 0 0 2010 2011 2010 2010 2011 2011 Zelnova Xylazel Pharmamar Pharmamar Genómica Genómica 2011 6
Net Sales by Geography € / millions BioPharma Consumer Chemicals 7
Other Income € / millions 8
Operating Costs 140 € / millions 9,2 8,6 120 21,9 19,3 100 80 43,5 42,8 60 40 56,7 55,7 20 0 2010 2011 R&D Sales & Marketing G&A Other 9
Stable R&D Investment for Future Growth € / millions 10
Consolidated EBITDA – Maiden Full Year Profitability € / millions 13,2 15 10 5 0 -5 -3,9 -10 -15 -15,3 -20 2009 2010 2011 11
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