April 2016 1 enrico.petocchi@twiceresearch.it The history since - - PowerPoint PPT Presentation

1 enrico.petocchi@twiceresearch.it

April 2016

The history since 1986…

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• See video in home page www.biodue.com

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May 2015: IPO on AIM Italia

Floating Offer Structure Lock-up Transaction Offer Value Listing

10,1% 12 months Share capital increase € 4 mio May 20, 2015

Share price

€ 3.55 a share

Shareholders

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As of May 20th, 2015

Share capital € 4,005,540.00 represented by # 11,148,900 ordinary shares

31.309% 37.189% 0.291% 1.376% 0.397% 0.397% 18.144% 0.794% 10.104% Benedetti Ruffo Benedetti Vanni Galletti Tamara Nisica Roberto Russo Enrico Sforazzini Luca Guesti Pierluigi Honeyfarm S.r.l. Market (new IPO Shares)

BioDue S.p.A develops, manufactures and distributes: Medical devices Skin cosmetics Dietary supplements (solid and liquid) with a particular focus on herbal products The Company is organized into two divisions: Industrial Division: dedicated to the production on behalf of third parties of liquid and solid food supplements, cosmetics, medical devices and herbal products; Division under its own brand: dedicated to the production and marketing of dermatological products, ophthalmic and food supplements. In addition, BioDue integrates its offering with products "Private Label" for retail (pharmacies, drugstores, health food stores).

Business model

Food supplements (liquid) Food supplements (solid) Medical devices Skin cosmetics 6

Production facilities

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Our offices, manufacturing and warehousing are located in Tavarnelle Val di Pesa Sambuca (Florence Area) On a property area of more than 11,500 square meters Registered under Reg. CE 852/2004 GMP certified (Good Manufacturing Practice) Quality and Safety Standards in accordance with Code of Federal Regulations, Title 21, Volume 2, part 111, of April 1, 2013) U.S. FDA Registration Number 10725095718 130 production lines (estimated replacement value significantly higher than the net amount) risk production fragmented, i.e. disaster recovery

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Industrial process

Full vertical integration of the production process, either directly or through subsidiaries and related parties. Any kind of production (liquid, solid and medical devices) is located in a different plant (130 production lines)

FORMULA

COSTUMER SPECIFICATION

BIODUE VALUE CHAIN PROCESSING

RAW MATERIALS

PRIMARY AND

SECONDARY

PACKAGING COMPOUND

TRANSFORMATION PACKING

QUALITY

CHECK

(*) (*) (#) (#) (#) Subsidiary (*) Related party

S.r.l.

Industrial Division’s products are distributed directly to customers’ client through pharmacies and / or pharmaceutical information channels Branded & Private Label products are marketed under the brands Pharcos (dermatology), biOfta (ophthalmic) and Selerbe (supplements) Pharcos and biOfta are distributed through a network of 40 mono-firm agents that reaches all Italian dermatologists (Pharcos) and about 50% of Italian ophthalmologists (biOfta). Selerbe products are distributed through a network of over 40 agents mono and multi-firm covering Italian territory

Distribution model

CUSTOMER «INDUSTRIAL»

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Own brands: distribution channels

Final customer is induced to purchase by medical reporting, the so called «blank prescription»; this scheme obtains remunerative prices avoiding the counter generic competition. 40 MEDICAL MONOFIRM REPRESENTATIVES

MONO AND PLURI-FIRM AGENTS

OCULIST DERMATOLOGIST PHARMACIES PARAPHARMACIES HERBALISTS

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The "Private Label" acts as a customer loyalty scheme to single pharmacy or herbalist’s shop The "Private Label" acts as a customer loyalty scheme to single pharmacy or herbalist’s shop

Established in 2011 in partnership with a competitor IIt extracts active plant with technology and proprietary know-how to the final customer exclusively LaBiotre provides Biodue raw materials for Selerbe’s products and natural plant extracts to be used in the production cycle Established in 2014, in partnership with Enzo Emanuele, a distinguished pathologist and researcher that has been cooperating with Biodue since 2007 Developing, patenting and selling raw materials to be used in cosmetics, food and medical devices It provides raw materials to Biodue for cosmetics

Subsidiaries

These Companies are functional and complementary to the business of Biodue

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S.r.l.

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Profit & Loss account as of Dec 31,2015

31.12.2015 % 31.12.2014 % Revenues from sales and services 33,621 100.0% 30,009 100.0% Other revenues (incl. royalties) 142 0.4% 229 0.8% Total Revenues 33,764 100.4% 30,238 100.8% Cost of raw materials, consumables and goods 16,174 48.1% 14,739 49.1% Services cost 7,702 22.9% 6,638 22.1% Leases and rentals cost 414 1.2% 299 1.0% Personnel Cost 4,852 14.4% 4,543 15.1% Other costs 669 2.0% 426 1.4% Change in inventories (741)

• 2.2%

(374)

• 1.2%

EBITDA 4,694 14.0% 3,966 13.2% Ammortization and write-downs charges 1,055 3.1% 977 3.3% EBIT 3,639 10.8% 2,988 10.0% Financial charges and Extraordinary items (33)

• 0.1%

(82)

• 0.3%

EBT 3,606 10.7% 2,906 9.7% Income taxes 1,240 3.7% 1,180 3.9% Net profit 2,367 7.0% 1,726 5.8%

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Balance sheet as of Dec 31, 2015

Net working capital 31.12.2015 31.12.2014 Inventories 3,848 3,106 Trade receivables 10,018 9,141 Other current assets 892 880 Current assets 14,757 13,127 Trade payables (5,995) (4,606) Other current liabilities (1,526) (1,272) Current liabilities (7,521) (5,878) Total Net working capital 7,237 7,250 Uses Net working capital 7,237 7,250 Fixed assets 9,445 9,074 Other non current assets and liabilities 30 30 Total uses (Net Capital Employed) 16,712 16,353 Financial Sources Net Equity Share Capital 4,006 3,600 Reserves 7,547 2,803 Profit for the period 2,367 1,726 Total Net Equity 13,919 8,129 Retirement Funds 956 878 Net Financial Position 1,838 7,346 Total Financial Sources 16,712 16,353

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Financial statement as of Dec 31, 2015

Cash Flow Statement 31.12.2015 31.12.2014 Cash Flow from operating activities (A) 3.330 3.510 Cash Flow from investing activities (B) (1.269) (7) Cash Flow from financing activities (C) (420) (3.543) Increase (decrease) on Cash and Cash Equivalents (A ± B ± C) 1.640 (40) Cash and Cash Equivalents af January, 1 49 89 Cash and Cash Equivalents af December, 31 1.689 49

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Breakdown 2015 sales

Euro/000 2015 % 2014 % Delta %

By Division Industrial Division 19,286 57.3% 17.596 58,6% 9,6% Pharcos Brand 8,229 24.5% 7,521 25,1% 9,4% Selerbe Brand 3.657 10.9% 3,025 10,1% 20.9% BiOfta Brand 2.106 6,3% 1,625 5.4% 29.6% Other minor 343 1.0% 242 0.8% 41.7%

Total sales 33,621

100%

30,009

100%

12.0%

By Geographical Area Local (Italy) 30,096 89.5% 27,614 92.0% 9.0% Foreign (other UE and Extra UE contries) 3,525 10.5% 2,395 8.0% 47.2%

Total sales 33,621

100%

30,009

100%

12.0%

Marco Ulivagnoli Board Member Investor Relations Biodue spa Via A. Lorenzetti, 3/a Tavarnelle Val Pesa (FI) +39 055 8071140 marco.ulivagnoli@biodue.com

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Contacts

Nomad Baldi Finance S.p.A. Antonio Boccia Via San Damiano, 9 20122 Milano Tel: +39 02 58318214 Fax:+39 02 58310893 antonio.boccia@baldifinance.it Specialist Integrae SIM S.p.A Matteo Pontello Via Meravigli, 13 20123 Milano Tel: +39 02 78625313 Fax:+39 02 87181075 Matteo.pontello@integraesim.it