HY 2024 Results Presentation
Nick Sedgwick, CEO Andrew Franklin, CFO
30 September 2024
Contents
01 | H1 2024 | Overview | |||
02 | H1 2024 | Results | |||
03 | FY 2024 Outlook | ||||
04 | Key Brand Overview | ||||
05 | 100 Day Observations | ||||
06 | Appendices | ||||
3
01
H1 2024
Overview
Andrew Franklin, CFO
4
H1 2024 Overview
On track to meet FY guidance
- 5% CER growth in Group see-through revenues
- Strong performance in Kelo-Cote on weak prior year comparator
- Nizoral revenues declined, as expected, due to stocking cycles
- Amberen revenues declined but remedial actions being implemented
- Other Consumer Healthcare brands performed well
- Prescription Medicines recovered due to full availability of stock
- Gross margin expansion supporting increased investment in marketing and innovation
- Robust free cash flow driving continued reduction in net debt
Group see through revenues (£84.8m)
Other | |
prescription | |
medicines | |
22% | Kelo-Cote |
franchise | |
34% |
Hydromol
6%
Other consumer | Amberen | ||
brands | |||
16% | MacuShield | Nizoral | 6% |
6% | 10% |
5
H1 2024 Overview
Positioning our business to deliver sustainable growth for the longer term
Brand developments
- Continued progress from internal I&D
- 6% of consumer health revenues from products launched in the last 3 years, up from 2% in H1 23
- Three significant product launches in the period
- Amberen Energy, Mood and Sleep gummy
- MacuShield Omega 3
- ScarAway Kids gel
Operational developments
- ERP platform implemented in China
- Completing the global roll-out of our single platform
- Published our second TCFD report for 2023
- Joined the UN Global Compact
6
02
H1 2024
Results
7
H1 2024 Results
Key financials
£84.8m | 59.8% | £19.1m |
See-through Revenue* | See-through Gross Margin* | Underlying EBITDA |
£12.7m | 1.80p | 1.81x |
Underlying Profit Before Tax | Underlying Basic EPS | Leverage |
8 | * Non-IFRS alternative performance measures. See-through revenue includes all sales from Nizoral as if they had been invoiced by Alliance as principal. |
For statutory accounting purposes the product margin on Nizoral sales made on an agency basis is included within Revenue, in line with IFRS 15. |
Revenue in more detail
Brand performance in H1 2024
Unaudited six months ended 30 June | 2024 | 2023 | Change | Growth | CER growth |
£m | £m | £m | % | % | |
Kelo-Cote franchise | 29.2 | 25.6 | 3.6 | 14% | 18% |
Nizoral* | 8.3 | 11.1 | -2.8 | -25% | -21% |
Amberen | 5.2 | 5.9 | -0.6 | -11% | -9% |
Other consumer brands | 18.7 | 17.2 | 1.5 | 9% | 9% |
Consumer Healthcare | 61.4 | 59.7 | 1.7 | 3% | 6% |
Prescription Medicines | 23.3 | 22.7 | 0.6 | 3% | 3% |
See-through revenue* | 84.8 | 82.4 | 2.3 | 3% | 5% |
H1
2023
H1
2024
Revenue distribution (H1 2024)
59.7 | 22.7 | 27% | ||
61.4 | 23.3 | 73% | ||
Consumer Healthcare | Prescription Medicines | Consumer Healthcare | Prescription Medicines | |
9 | * Non-IFRS alternative performance measures. See-through revenue includes all sales from Nizoral as if they had been invoiced by Alliance as principal. |
For statutory accounting purposes the product margin on Nizoral sales made on an agency basis is included within Revenue, in line with IFRS 15. |
H1 2024 Results
Revenue and Underlying PBT development
Revenue movements (£m) | Underlying PBT movements (£m) |
88.0 | 16.0 | |||||||||||||||||||||||||||
87.0 | 4.4 | 0.8 | 86.6 | 14.0 | 3.8 | |||||||||||||||||||||||
1.4 | 12.7 | |||||||||||||||||||||||||||
86.0 | 1.8 | 12.0 | (2.3) | 0.1 | (0.3) | |||||||||||||||||||||||
10.3 | (0.4) | |||||||||||||||||||||||||||
85.0 | 84.8 | |||||||||||||||||||||||||||
(1.8) | 10.0 | |||||||||||||||||||||||||||
84.0 | (2.3) | |||||||||||||||||||||||||||
(0.5) | 8.0 | |||||||||||||||||||||||||||
83.0 | 82.4 | 6.0 | ||||||||||||||||||||||||||
82.0 | 4.0 | |||||||||||||||||||||||||||
81.0 | 2.0 | |||||||||||||||||||||||||||
80.0 | 23 | franchise | Nizoral | Amberen | Consumer | Prescription | CCY | Gain/(Loss) | Reported | - | ||||||||||||||||||
Sales | H1 | 24 | 24 | 2023 H1 PBT | Operating Costs | Depr/Amort | Interest | |||||||||||||||||||||
H1 | Gross Profit | Share Options | FX | 2024 H1 PBT | ||||||||||||||||||||||||
Net | Kelo | - Cote | Other | Net | Sales | FX | Sales | H1 | ||||||||||||||||||||
Net | ||||||||||||||||||||||||||||
10 | ||||||||||||||||||||||||||||
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Disclaimer
Alliance Pharma plc published this content on September 30, 2024 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on September 30, 2024 at 07:11:04 UTC.