Embed Size (px)
Citation preview
JUNE 2009
PHILIPP HAAS – CHAIRMAN & CEO
2009: CONFIRMATION OF THE TURN AROUND
� Company Vision and Mission
� Strategy in Sales and Profit
� IMS Performance
� Production Facilities
Agenda
22
� Outlook ‘09
� Consolidated IFRS Financial Results – Q1 ‘09
Company Vision and Mission
Vision:
To become the leading pharmaceutical company in Turkey and to develop export business to selected markets world wide.
A leading branded pharmaceutical company in Turkey
33
world wide.
Mission:
To provide the local and international markets with high quality, low-cost and modern generic pharmaceutical drugs.
Strategy - in Sales and Profit
PHASE I:PHASE I:PHASE I:PHASE I:
Growth in the Growth in the Growth in the Growth in the
PHASE II: PHASE II: PHASE II: PHASE II:
Contract Contract Contract Contract
PHASE III:PHASE III:PHASE III:PHASE III:
Exports to Exports to Exports to Exports to
regulated markets regulated markets regulated markets regulated markets
44
Growth in the Growth in the Growth in the Growth in the Turkish marketTurkish marketTurkish marketTurkish market
and move to higher and move to higher and move to higher and move to higher
margin productsmargin productsmargin productsmargin products
Contract Contract Contract Contract manufacturing manufacturing manufacturing manufacturing
as strategic as strategic as strategic as strategic initiativeinitiativeinitiativeinitiative
regulated markets regulated markets regulated markets regulated markets
with higher marginswith higher marginswith higher marginswith higher margins
and stronger and stronger and stronger and stronger currencycurrencycurrencycurrency
IMS Sales Performance
Unit Sales (Thousands):
60.77870.776 68.804
18.952 18.670
Eastpharma ranks as:
� #5 in Unit terms with 4.6% market share
55Source: IMS (FY ‘08 figure includes Roche products sales under Deva portfolio)
TRY Sales (Thousands):
FY 2006 FY 2007 FY 2008 Q1 '08 Q1 '09
293.201
368.580 407.237
108.044 131.974
FY 2006 FY 2007 FY 2008 Q1 '08 Q1 '09
� #8 in TRY terms with 3.5% market share
100% BUDGET REALISATION
Çerkezköy Site, Tekirdağ
� 150 km West of Istanbul: Çerkezköy Organized Industrial Region.
� Opened in September 2008; total closed area of 32,000 m2
� Dedicated plant for Cefuroxim Axetil Amorph and Coated, typically for 125mg and 250mg dosage forms.
Marmara
Region
Secondary Manufacturing Facilities Start-Up
66
for 125mg and 250mg dosage forms.
� Separate Penicillin building for film-coated tablets, oral suspension and injectables.
� Separate Cephalopsorin building for film-coated tablets, oral suspension and injectables.
� Non-Betalactam main plant for solid oral forms, liquid oral forms, suppositories, ointments and creams.
� 7,000 pallet high rack warehouse.
Köseköy Ampoule Site, Izmit
� 110 km East of Istanbul.
� New GMP facility for sterile liquid ampoules opened in August 2008; closed area of 11,000 m²
Marmara
Region
Secondary Manufacturing Facilities Start-Up
Köseköy API Site, Izmit
77
Köseköy API Site, Izmit
� 110 km East of Istanbul.
� Fermentation plant for Potassium Clavulanate
� Different mixtures of Potassium Clavulanate with Avicel and/or Syloid
� Pure Potassium Clavulanate
� Sterile Potassium Clavulanate
Capacity
Çerkezköy Plant Köseköy Plant
� Penicillin � 59mio packs
� Cephalosporin� 49mio packs
� Non-Beta Lactam General Production
� Injectables�25mio packs(80 Mio bulk ampoules)
88
*240 days x 3 shift capacity
� Non-Beta Lactam General Production
� 36mio packs of tablets in bottles� 94mio packs of tablets in blisters� 19mio packs of Gel & ointments� 18mio packs of suspension� 15mio packs of suppositories� 21mio packs of syrup and drops
TOTAL CAPACITY: 336 million packs*
Pictures
General View of Çerkezköy Facility
99
Pictures
Penicillin Building in Çerkezköy
New state of the art facilities. Target to have
FDA and EMEA approvals
1010
Pictures
Warehouse and shipping area in Çerkezköy
1111
Pictures
Cephalosporin and Non-Beta Lactam General Production Buildings in Çerkezköy
1212
Pictures
Cephalosporin Building in Çerkezköy
1313
Pictures
Non-Beta Lactam General Production Building and Training Center in Çerkezköy
1414
Pictures
Injectables Building in Köseköy
1515
Pictures
Laboratories in Çerkezköy
1616
Outlook ‘09 - Increase Quality of Business Performance
� In Production Processes:
� Regular supply of products
� Gradually lowering production costs
� Developing contract manufacturing as new business
1717
� In Management Processes:
� Developing management information tools
� SAP
� Open culture
� Team work
Outlook ‘09 - Increase Quality of Business Performance
� Model of selling:
� No consignment
� Gradually lowering sales discounts and free goods
� More cost effective use of marketing mix resources
1818
� Field Force “A Selling Machine”
� Activity planning and control tools – SFE
� Field force manager model
� New bonus scheme
� Intensive training and development
Outlook ‘09 - Increase Quality of Business Performance
� Extending customer base:
� Hospital doctors
� Specialists (Cardiologist, Gastroenterologist, Psychiatrist etc)
� More widespread coverage
1919
� Cost efficiency:
� Secondary API sourcing project
� Cost cutting incentive and culture
� Looking under every stone
Outlook ‘09 – Products to be launched in ‘09
� 10 new products to be launched in ‘09
� Aggressive In-licensing and registration activity:
� In-licencing negotiations ongoing for over 20 products
� Registration activities ongoing for over 87 dosage forms
2020
Outlook ‘09
� Net sales of TRY 500 mn
(approx. USD 300 mn at the budget exchange rate of 1.6970)
� Ebitda of TRY 100 mn
2121
(approx. USD 60 mn at the budget exchange rate)
EastPharma Consolidated IFRS Financial Results – Q1 ‘09
1 January – 1 January –US$ 31 March 2009 31 March 2008
Revenue 67.447.297 48.833.843
Cost of sales (34.311.485) (25.490.863)
Gross profit 33.135.812 23.342.980Gross profit margin 49,1% 47,8%
Operating expenses (21.870.093) (28.644.169)
Investment revenue 3.569.834 9.388.449
2222
Investment revenue 3.569.834 9.388.449
Finance costs (10.299.586) (17.778.994)
Other gains and losses (2.251.062) 13.624.990
Current tax expense (200.361) (58.865)
Deferred tax income 1.375.750 1.321.548
Tax income 1.175.389 1.262.683
Net profit for the period 3.460.294 1.195.939
EastPharma Consolidated IFRS Financial Results – Q1 ‘09
US$ (thousand)31 March
2009 31 March
2008
Net profit 3.460 1.196
Finance costs, investment revenue, income
taxes, depreciation and amortization 10.376 11.135
Retirement pay provision (restructuring
2323
Retirement pay provision (restructuring
of personnel) 29 79
Fair value of call option liability 1.762 (5.690)
Foreign exchange loss 1.801 (7.879)
Idle capacity expenses - -
Adjusted EBITDA * 17.428 (1.159)
(*) Earnings Before Interest, Taxation, Depreciation & Amortisation (Note: excludes other gains and losses and gain on monetary position)
Adjusted EBITDA margin 26% -2%
This presentation has been prepared by EastPharma Ltd (the “Company”) solely for its use at the presentation to investors to be made in September 2007. By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations.This document is not a prospectus. This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company.This presentation is being supplied to you solely for your information. This presentation and its contents are confidential and may not be further copied, distributed or passed on to any other person or published or reproduced directly or indirectly, in whole or in part, by any medium or in any form for any purpose. The information contained in this presentation must be kept confidential and must not be used for any other purpose. Neither this presentation nor any copy of it nor the information contained in it may be taken or transmitted in or into the United States, Canada, Japan or Australia, or distributed, directly or indirectly, in or into the United States, Canada or Australia, or distributed or redistributed in Japan or to any resident thereof. Any failure to comply with these restrictions may constitute a violation of United States, Canadian, Japanese or Australian securities laws. The distribution of this presentation in other jurisdictions may be restricted by law, and persons into whose possessions this presentation comes should inform themselves about, and observe, any such restrictions.This document and its contents are confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose, and it is intended for distribution in the United Kingdom only to and is directed only at: (i) persons who have professional experience in matters relating to investments falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) persons falling within Article 49(2)(a) to (d) of the Order; or (iii) to those persons to whom it can otherwise lawfully be distributed (all such persons together being referred to as “relevant persons”). This document must not be acted upon by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.The information in this presentation is given in confidence and the recipients of this presentation should not base any behaviour in relation to qualifying investments or relevant
Important Notice - Disclaimer
Contact Details:
Philipp Haas – Chairman & CEO
THANK YOU FOR YOUR INTERESTTHANK YOU FOR YOUR INTEREST
2
The information in this presentation is given in confidence and the recipients of this presentation should not base any behaviour in relation to qualifying investments or relevant products (as defined in Financial Services and Markets Act 2000 (as amended) (“FSMA”) and the Code of Market Conduct (made pursuant to FSMA) which would amount to market abuse for the purposes of FSMA on the information in this presentation until after the information has been made generally available. Nor should the recipient use the information in this presentation in any way which would constitute “market abuse”.This presentation has been prepared by, and is the sole responsibility of, the Company. The information set out herein has not been verified by the Company or any other person. No representation or warranty, express or implied, is or will be made by the Company or any of its affiliates, directors, officers or employees, or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and any reliance you place on them will be at your sole risk. Without prejudice to the foregoing, the Company, their advisors and their respective affiliates, directors, officers or employees do not and will not accept any liability whatsoever for any loss howsoever arising, directly or indirectly, from use of this presentation or its contents or otherwise arising in connection therewith. The Company’s securities have not been nor will they be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States except to qualified institutional buyers (as defined in Rule 144A) in reliance on Rule 144A or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Company’s securities have not been nor will they be registered under the applicable securities laws of any state or jurisdiction of Australia, Canada or Japan and, subject to certain exceptions, may not be offered or sold within Australia, Canada or Japan or to or for the benefit of any national, resident or citizen of Australia, Canada or Japan.Certain statements in this presentation constitute “forward-looking statements”. These statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect” and words of similar meaning, reflect the Directors’ beliefs and expectations and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, changing business or other market conditions and the prospects for growth anticipated by the management of the Company. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. As a result, you are cautioned not to place undue reliance on such forward-looking statements. The Company and their advisors and each of their respective members, directors, officers and employees disclaim any obligation to update the Company’s view of such risks and uncertainties or to publicly announce the result of any revision to the forward-looking statements made herein, except where it would be required to do so under applicable law.
This presentation has been prepared by EastPharma Ltd (the “Company”) solely for its use at the presentation to investors and the interested parties to be made in 2009. By attending the meeting
where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations.
This document is not a prospectus. This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of
the Company, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a
recommendation regarding the securities of the Company.
This presentation is being supplied to you solely for your information. This presentation and its contents are confidential and may not be further copied, distributed or passed on to any other person or
published or reproduced directly or indirectly, in whole or in part, by any medium or in any form for any purpose. The information contained in this presentation must be kept confidential and must not
be used for any other purpose. Neither this presentation nor any copy of it nor the information contained in it may be taken or transmitted in or into the United States, Canada, Japan or Australia, or
distributed, directly or indirectly, in or into the United States, Canada or Australia, or distributed or redistributed in Japan or to any resident thereof. Any failure to comply with these restrictions may
constitute a violation of United States, Canadian, Japanese or Australian securities laws. The distribution of this presentation in other jurisdictions may be restricted by law, and persons into whose
possessions this presentation comes should inform themselves about, and observe, any such restrictions.
This document and its contents are confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose, and
it is intended for distribution in the United Kingdom only to and is directed only at: (i) persons who have professional experience in matters relating to investments falling within the definition of
“investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) persons falling within Article 49(2)(a) to (d) of the
Order; or (iii) to those persons to whom it can otherwise lawfully be distributed (all such persons together being referred to as “relevant persons”). This document must not be acted upon by persons
who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.
Disclaimer
2525
The information in this presentation is given in confidence and the recipients of this presentation should not base any behaviour in relation to qualifying investments or relevant products (as defined in
Financial Services and Markets Act 2000 (as amended) (“FSMA”) and the Code of Market Conduct (made pursuant to FSMA) which would amount to market abuse for the purposes of FSMA on the
information in this presentation until after the information has been made generally available. Nor should the recipient use the information in this presentation in any way which would constitute
“market abuse”.
This presentation has been prepared by, and is the sole responsibility of, the Company. The information set out herein has not been verified by the Company or any other person. No representation or
warranty, express or implied, is or will be made by the Company or any of its affiliates, directors, officers or employees, or any other person as to the accuracy, completeness or fairness of the
information or opinions contained in this presentation and any reliance you place on them will be at your sole risk. Without prejudice to the foregoing, the Company, their advisors and their respective
affiliates, directors, officers or employees do not and will not accept any liability whatsoever for any loss howsoever arising, directly or indirectly, from use of this presentation or its contents or
otherwise arising in connection therewith.
The Company’s securities have not been nor will they be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United
States except to qualified institutional buyers (as defined in Rule 144A) in reliance on Rule 144A or another exemption from, or in a transaction not subject to, the registration requirements of the
Securities Act. The Company’s securities have not been nor will they be registered under the applicable securities laws of any state or jurisdiction of Australia, Canada or Japan and, subject to certain
exceptions, may not be offered or sold within Australia, Canada or Japan or to or for the benefit of any national, resident or citizen of Australia, Canada or Japan.
Certain statements in this presentation constitute “forward-looking statements”. These statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect” and words of similar
meaning, reflect the Directors’ beliefs and expectations and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other
factors, changing business or other market conditions and the prospects for growth anticipated by the management of the Company. These and other factors could adversely affect the outcome and
financial effects of the plans and events described herein. As a result, you are cautioned not to place undue reliance on such forward-looking statements. The Company and their advisors and each of
their respective members, directors, officers and employees disclaim any obligation to update the Company’s view of such risks and uncertainties or to publicly announce the result of any revision to
the forward-looking statements made herein, except where it would be required to do so under applicable law.
![EastPharma - MARCH 2008.ppt [Uyumluluk Modu]march 2008 philipp haas – chairman idil bora – ir manager ! " # # $ % # % # $ # ! & & ! & & % & & & % & % & &0 1 2](https://img.pdfslide.net/doc/110x75/6012dd63f3815d798c148c47/eastpharma-march-2008ppt-uyumluluk-modu-march-2008-philipp-haas-a-chairman.jpg)
