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CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9 th May 2013

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Page 1: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

CONSOLIDATED RESULTS

First quarter 2013

Press conference, Warsaw, 9th May 2013

Page 2: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

Financial summary Q1 2013

Significant results’

amelioration despite

dropping fixed wholesale

margin

Financial prognosis

execution as planned

Sales and management

costs drop

Significant growth of net

profitability

Systematic drop of

interest debt

2

32 mn Net result

58.7% Growth y/y

Dynamic development

of private brands

segment

Page 3: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

1,99

1,69 1,64

1,81

1,54

1,4 1,36

1,57 1,67

31,50%

30,80% 30,40% 30,80%

29,50% 28,40%

26,70% 27,40%

26,20%

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

6,31

5,54 5,54

5,95

5,42 5,37 5,30

5,74

6,40

11,54% 7,76% 8,90% 7,15%

-14,15% -3,05% -4,38%

-3,48%

18,00%

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q

NEUCA market position

3

Quarterly market value and quarterly

dynamics y/y Q1 2011 – Q1 2013*

[PLN bn]

Quarterly revenues value and NEUCA

market shares Q1 2011 – Q1 2013

[PLN bn]

* data IMS, NEUCA SA pharmaceuticals wholesale before discounts

• Return of stable growth to the level from

before the Reimbursed Act

• High market dynamics result of the low

January base

• Market growth higher than first predictions

Market

NEUCA’s market position

• Leader’s position with 26.2% shares in Q1

• Change in clients’ structure – bigger

concentration on independent

pharmacies

2011 2012 2013

2011 2012 2013

Page 4: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

Financial results

4

Page 5: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

1 459,1 1 532,3

IQ 2012 IQ 2013

Revenues

5

Sales revenues

[PLN mn]

+5,0%

Pharmaceuticals wholesale market

growth by 18%

Changes in clients’ structure; bigger

concentration on independent

pharmacies

Page 6: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

29,1

37,7

IQ 2012 IQ 2013

EBIT

6

EBIT

[PLN mn] EBIT excluding non-recurring items

[PLN mn]

+29,3% +10,5%

Growth of operating profit despite falling fixed margin

Significant fall of sales and management costs

30,5

33,7

IQ 2012 IQ 2013

Page 7: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

20,1

31,9

IQ 2012 IQ 2013

21,2

27,2

IQ 2012 IQ 2013

Net profit

7

+58,7%

+28,3%

Net profit

[PLN mn]

Net profit

excluding non-recurring items

[PLN mn]

Net margin level above 2% vs. 1.4% one year ago

Positive influence on transactions clearing after Prosper take-over, worth PLN 4.6

mn

Page 8: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

21,2

37,4

55,8

71,6

27,2

77*

30,3%

53,4%

79,7%

102,3%

35,3%

1Q 2Q 3Q 4Q

wynik kwartału

narastajaco

2013 wynik kwartału

narastajaco

wykonanie prognozy

2012

wykonanie prognozy

2013

* Excluding non-recurring items

• PLN 77 mn net profit in 2013

(8% growth y/y)

• Expected market growth of

minimum 3-4% in a yearly scale

• Lower level of wholesale margin

estimated at the level of PLN 20

mn

Prognosis assumption

[PLN mn]

Prognosis execution 2013

Realisation of 35% of financial prognosis after the first quarter

8

Page 9: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

Private brands

9

Page 10: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

Dynamic development of private brands

2009

2011

2010

• 134 products in portfolio at the end of March

• 17 new launches of Apteo brand in the Q1

• Significant profit on the net level in Q1

• Debut of gynaecological line - Hialuvagin

• Full readiness for the debuts of the Rx products on the Reimbursed List

2013

10

2012

• Launch of Synoptis

Pharma activity,

introduction of

Nursea brand

• 12 products in

Synoptis portfolio

• Apteo brand launch,

40 products in

Synoptis portfolio

• Exceeding break

even point

• 115 products in

portfolio

• Test sale of Rx

Genoptim brand

Page 11: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

11

Economy pharmaceuticals brand

Brands portfolio development

Brand containing products of higher class

Prescription drugs brand (RX)

Sub-brand APTEO offering OTC products

Dedicated paediatrics brand

Specialised gynaecological line

Page 12: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

Challenges for future quarters 2013

Introduction of first

pharmaceuticals to the

reimbursement list, sales

start – beginning of May

Service quality

amelioration, growth of

clients’ satisfaction

Organic growth of

market shares Key challenges Execution of financial

prognosis

12

Further lowering of interest debt

Page 13: CONSOLIDATED RESULTS - NEUCA › images › pdf › prezentacje eng › Wyniki... · CONSOLIDATED RESULTS First quarter 2013 Press conference, Warsaw, 9th May 2013 . Financial summary

Thank you for your attention