Investor Presentation • Mar 29, 2021
Investor Presentation
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MARCH 29, 2021
DEGREE IN LEAN MANAGEMENT FINANCE BOUTIQUE)
COMPANIES, PREVIOUS
RESEARCH-DRIVEN FULL SERVICE CDMO OPERATING MAINLY IN THE DIETARY SUPPLEMENTS AND MEDICAL DEVICES SEGMENTS PROVIDING HIGH-GRADE VALUE-ADDED SOLUTIONS TO
LEVERAGING INTERNALLY-DEVELOPED PATENTS AND A FULL RANGE OF PHARMACEUTICAL FORMS
Click to edit Sources and Notes INTERNATIONAL LIFE SCIENCES PLAYERS
HIGH ATTENTION TO SUSTAINABILITY, FOR PEOPLE & CUSTOMERS, INNOVATION AND ETHICS
THE CDMO «2.0»
REVENUES BREAKDOWN (1)
which in 2020 recorded a reduction in sales due to the use of masks and less social contacts in connection with the Covid-19 pandemic
Source: Management
1: Only revenues from finished products Source: Management data)
development. Their job is about targeting the most relevant opportunities with key clients.
Source: Management
2021 Labomar Goal
| LABOMAR SPA Consolidated |
INTESA RESEARCH 23/11/2020 |
CFO RESEARCH 23/11/2020 |
|
|---|---|---|---|
| Value of Production |
61,5 | 60,8 | 62,0 |
| EBITDA | 11,3 | 11,3 | 10,9 |
| EBITDA ADJ | 12,3 * | 12,9* | 12,5* |
| EBIT | 7,3 | 7,1 | 6,7 |
| EBIT ADJ | 8,2* | 8,6* | 8,3* |
| EBT | 6,9 | 6,2 | 6,3 |
| NET PROFIT | 6,1 | 5,2 | 4,6 |
| NFP | -3,4 | -2,8 | -2,5 |
EBITDA ADJUSTED EBIT 2
Net Income Adjusted (€M and % Total Revenues)
Cash conversion = EBTDA + cash from Trade Net Working Capital
Inventories Accounts receivable Accounts payable
| 2020C | 2019C | |
|---|---|---|
| DSO gg |
$5^{\circ}$ | 70 |
| DPO gg |
$-100$ | $-108$ |
| DIO (RM) gg | 73 | |
| DIO (FP) gg |
21 | 23 |
(FY 2019-2020 Consolidated, €M)
Notice to Recipient – Strictly Confidential
By attending this meeting and accepting this presentation, you will be deemed to have agreed that: (i) you will not disclose information contained herein to anyone within your firm (other than subject to these restrictions) or outside your firm (ii) and these restrictions will apply to your entire firm. By attending the meeting where this presentation is made, or by reading the following presentation slides, you further agree to be bound by the following limitations, qualifications and restrictions. The information contained in this documentation has been prepared by Labomar S.p.A. (the "Company") and its consolidated subsidiaries (together, the "Group") for the sole purpose of the presentation made to you concerning the Company. This presentation and the information contained herein are strictly confidential. Disclosure of the information contained herein to anyone outside of your firm is prohibited. This presentation may not be copied, distributed, reproduced or passed on, directly or indirectly, in whole or in part, or disclosed by any recipient, to any other person (other than as required to those within your organization who agree to be bound by these restrictions) or published in whole or in part, for any purpose or under any circumstances. This document does not constitute or form part of any offer to sell or issue or invitation to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall
it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. The information and opinions contained in this document are provided as at the date of the presentation and are subject to change. Neither the Company nor the Group nor any other person is under any obligation to update or keep current the information contained in this presentation. To the extent available, the industry, market and competitive position data contained in this presentation come from official or third-party sources. Third-party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company reasonably believes that each of these publications, studies and surveys has been prepared by a reputable source, none of the Company or Intesa Sanpaolo S.p.A., CFO SIM nor Banca Mediolanum (the "Banks") has independently verified the data contained therein. In addition, certain of the industry, market and competitive position data contained in this presentation come from the Company's own internal research and estimates based on the knowledge and experience of the Company's management in the markets in which the Company operates. While the Company reasonably believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change. Accordingly, undue reliance should not be placed on any of the industry, market or competitive position data contained in this Presentation. The information contained in this Presentation is preliminary in nature, subject to updating, correction and amendment and does not purport to be comprehensive. None of the Company, the Banks, any of their respective subsidiary undertakings or affiliates, or their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for/or makes any representation or warranty, express or implied, as to the truth, fullness, accuracy or completeness of the information in this Presentation (or whether any information has been omitted from the presentation) or any other information relating to the Group, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection Neither this document nor any part or copy of it may be taken or transmitted into the United States or distributed, directly or indirectly, in the United Sates, as that term is defined in Regulation S under the US Securities Act of 1933, as amended (the "US Securities Act"), except to a limited number of qualified institutional buyers ("QIBs"), as defined in Rule 144A under the US Securities Act. Neither this document nor any part or copy of it may be taken or transmitted into Australia, Canada or Japan or to any resident of Japan, or distributed directly or indirectly in Australia, Canada or Japan or to any resident of Japan. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian or Japanese securities laws. This document does not constitute an offer of securities to the public in the United Kingdom or in any other jurisdiction. Persons into whose possession this document comes should observe all relevant restrictions. This Presentation and the information contained herein are not a solicitation of an offer to buy securities or an offer for the sale of securities in the US (within the meaning of Regulation S under the US Securities Act). The ordinary shares of the Company have not been, and will not be, registered under the US Securities Act and may not be offered or sold in the United States except pursuant to an exemption from, or a transaction not subject to, the registration requirements of the US Securities Act or unless registered under the US Securities Act and in compliance with the relevant state securities laws. There will be no public offering of any securities in the United States.
therewith. This presentation is an advertisement and is not a prospectus for the purposes of applicable laws and regulations and it has not been approved by any authority. In the event of any eventual offering by the Company, an investment decision should be made solely on the basis of information contained in any offering documents to be prepared by the Company in the future in connection such offer. If made available, any such offering document would include a description of risk factors in relation to an investment in the Company and would supersede this Presentation in its entirety. The Banks are acting for the Company in connection hereof and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Global Offer or any transaction or arrangement referred to in this presentation.
Notice to Recipient – Strictly Confidential
Forward-Looking Statements: This document may include projections and other "forward-looking" statements within the meaning of applicable securities laws. In particular, all statements that address expectations or projections about the future, including statements about operating performance, market position, industry trends, general economic conditions, expected expenditures, cost-savings, synergies and financial results, are forward-looking statements. Consequently, any statements contained herein that are not statements of historical fact are forward-looking statements. Forward-looking statements are based on assumptions and current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Accordingly, actual events or results or actual performance of the Company or the Group may differ significantly, positively or negatively, from those reflected or contemplated in such forward-looking statements made herein. Factors that might cause such differences include, but are not limited to, the risks that business strategy and plans may not receive the level of market acceptance anticipated; disruptions in general economic and business conditions, particularly in geographic areas where business may be concentrated; higher interest rates, higher loan costs or less desirable loan terms, all of which could increase our costs of funding; continued high levels of, or increases in, unemployment and a general slowdown in commercial activity; leverage and ability to refinance existing indebtedness or incur additional indebtedness; an increase in debt service obligations; the ability to generate a sufficient amount of cash from operations to satisfy working capital requirements and to service existing and future indebtedness; the ability to achieve improvements in operating efficiency; foreign currency fluctuations; the ability to retain senior management and attract and retain qualified and experienced employees; the ability to retain existing bank partnership or develop new ones. The Group and all other persons expressly disclaim any duty, undertaking or obligation to update publicly or release any revisions to any of the information, opinions or forward-looking statements contained in this document to reflect any events or circumstances occurring after the date of the presentation of this document. No representation or warranty is made as to the achievement or reasonableness of and no reliance should be placed on such forward-looking statements. Projections: Any projection or forecast in this document is based on estimates and assumptions, described in this document, about future events and, as a consequence, is subject to significant economic and competitive uncertainty and other contingencies, none of which can be predicted with any certainty and some of which are beyond the Group's control. Each recipient of this document should be aware that these projections do not constitute a forecast or prediction of actual results and there can be no assurance that the projected results will be realized or achieved, and actual results may be higher or lower than those indicated. None of the Company, the Group, the Banks, nor any of their respective security-holders, directors, officers, employees, advisors or affiliates, or any representatives or affiliates, assumes responsibility for the accuracy of the projections presented herein. Also presented herein are alternative performance indicators that are not recognized by IFRS. Different companies and investors may calculate these non-IFRS measures differently, so making comparisons among companies on this basis should be done very carefully. These non-IFRS measures have limitations as analytical tools, are not measures of performance or financial condition under IFRS and should not be considered in isolation or construed as substitutes for operating profit or net profit as an indicator of our operations in accordance with IFRS.
By reviewing this presentation and attending the meeting where this presentation is made, you warrant, represent, acknowledge and agree to and with the Company and the Banks that (i) you and any persons you represent are either (a) a QIB or (b) are located outside the United States, (ii) you and any persons you represent are either (a) in member states of the European Economic Area ("Member States") and are "qualified investors" within the meaning of Article 2, letter e) of the Regulation (EU) 2017/1129 (the "Qualified Investors") or (b) in Italy and are Qualified Investors according to Article 2, letter e) of the Regulation (EU) 2017/1129 and Article 35, paragraph 1, letter d), of CONSOB Regulation on Intermediaries No. 20307 of February 15, 2018 or (c) in the United Kingdom and are persons who have professional experience in matters relating to investments and who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or are high net worth companies, unincorporated associations or partnerships or trustees of high value trusts as described in Article 49(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and investment personnel of any of the foregoing (each within the meaning of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and are "qualified investors" as defined in section 86 of the Financial Services and Markets Act 2000, as amended, or other persons to whom it may otherwise be lawfully communicated; (iii) you have read, agree to and will comply with the contents of this disclaimer including, without limitation, the obligation to keep this presentation and its contents confidential, (iv) you will not at any time have any discussion, correspondence or contact concerning the information in this presentation with any of the directors or employees of the Company or its subsidiaries nor with any of their suppliers in respect of the Group without the prior written consent of the Company and, (v) you are able to receive this Presentation without contravention of any applicable legal or regulatory restrictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions. No liability to any person is accepted by the Company, the Group or the Managers, including in relation to the distribution of this Presentation in any jurisdiction.
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