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Microsoft PowerPoint Presentat Welcome Annual

VIEWS: 18 PAGES: 20

									                                               Welcome
                                                Annual & Extraordinary
                                            General Meeting of Shareholders



Free translation of selected
   slides from the Dutch-
      language original
        presentation

   Nazareth, 4 May 2009
                                                                                            p. 1




                               2008 Review


                                 Strategy
                                 Comments per segment
                                 Consolidated financial statement
                                 Statutory (stand-alone) financial statement
                                 Appropriation of the results


                                 2009 Outlook & status


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   Nazareth, 4 May 2009
                                                                                            p. 2




                                                    Omega Pharma

                                                         Strategy




                                Focus on OTC         Go for Growth         Free Cash Flow




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   Nazareth, 4 May 2009
                                                                                            p. 3




                                                                                                   1
                               OTC market drivers

                                        Aging population
                                                  increasing medical needs,…
                                        Lifestyle changes
                                                  lifestyle diseases, wellness, awareness,…
                                        Consumer empowerment
                                                  self-care,…
                                        Emerging Markets opportunity
                                                  higher disposable income
                                                  Middle class
                                        Regulatory changes
Free translation of selected
   slides from the Dutch-                         Rx to OTC, claims regulation, centralized approval system
      language original
        presentation                    Broadening distribution channels
   Nazareth, 4 May 2009
                                                                                                                                                                                                                p. 4




                                      OTC growth vs Pharma growth                                                                       Main OTC segments
                                 14
                                                12.7
                                 12
                                                                                                                                                                                   Cough/cold
                                       10.3                                                                                                    Other                                  19%
                                                                 9.5
                                 10                                                                                                             26%
                                                        8.3
                                  8                                           7.4        7.27.2
                                                                                                   6.7          6.7
                                                                       6                                      6.2
                                  6

                                                                                                        3.8
                                  4                3                               3.2                                                                                                    analgesics
                                                           2.6
                                          2.1                                                                                                                                                17%
                                  2                                                                                                 Skin care
                                                                                                                                       9%
                                  0
                                        2000     2001    2002     2003           2004     2005      2006      2007
                                                                                                                                                Digestive                     VMS
                                                           Pharmaceutical     Non-prescription
                                                                                                                                                   14%                        15%




                                        Global OTC market € 50bn (e)
                                                                                    SE-Asia/China                                             OTC 5 years growth est.
                                        North America                                    12%
                                             22%                                                                             15
                                                                                             Japan                                  %                                 12
                                                                                              10%                                                        10
                                                                                                                             10

                                                                                                                                                                                   6
                                                                                                  Latin Americ                                                                                              5
Free translation of selected                                                                                                  5                                                                3
                                                                                                       10%                               2
   slides from the Dutch-
      language original                                                                                                       0
                                                                                          Others
        presentation                              Europe
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   Nazareth, 4 May 2009
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                                                                                                                                                                                                                p. 5




                               Small top in a fragmented market
                                                                 OTC sales
                               Group                                                             % of
                                                                  in 2008                                                        Major brands                                           Key categories
                               (OTC division)                                                    total
                                                                  (M EUR)
                               Johnson & Johnson                       12 683                     26%          Immodium, Neutragena, RoC, Listerine…                                Allergy, GI, pain, dermo

                               Procter & Gamble                        11 517                     18%          Oral-B, Prilosec OTC, Vicks, Actonel                                 Oral, GI, respiratory

                               Novartis                                    4 592                  14%          Voltaren, Lamisil, Maalox, Nicotinell, Ciba-Vision                   Pain, GI, anti-smoking

                               GlaxoSmithKline                             4 448                  18%          Alli, Aquafresh, Gaviscon, Nicorette, Zantac                         Pain, GI, anti-smoking

                               Bayer                                       4 703                  14%          Aspirine, Supradyn, Canesten                                         Pain, GI, C&C, vitamins

                               Wyeth                                       2 150                  12%          Advil, Alavert, Caltrate                                             Pain, allergy, C&C

                               Reckitt Benckiser                           1 884                  26%          Clearasil, Dettol, Nurofen, Strepsils, Mucinex                       Pain, GI, C&C, dermo

                               Boehring Ingelh. (‘07)                      1 100                  10%          Antistax, Bisolvon, Buscopan, Pharmaton                              Vitamins, C&C

                               Taisho                                      1 221                  61%          Avalon, Lipovitan D, Livita, Pabron                                  C&C, GI, tonics

                               Pierre Fabre                                1 118                  68%          Klorane, Avène, Galénic, Elancyl, Nicogum                            Dermocosm., phyto,

                               Schering-Plough                             1 008                   6%          Claritine, Coppertone                                                Allergy, GI, dermo

                               Bristol-Myers Squibb                         914                    6%          Enfamil, Expecta                                                     Nutritional supplements

                               Omega Pharma                                811                    100%         Wartner, XLS, Paranix, Silence,…                                     Anti-warts, Slimming,…

                               Sanofi-Aventis                              n.a.                                Aspégic, Thinatiol, Hexomedine                                       Pain, GI, respiratory, ..
Free translation of selected   SSL International                           535                    89%          Durex, Scholl Footcare                                               Anticonception, footcare
   slides from the Dutch-      Chattem                                     359                    100%         Icy Hot, Gold Bond                                                   Pain, nutritionals…
      language original
                               Arkopharma                                  224                    100%         4-3-2-1 Minceur                                                      slimming
        presentation
                                                                                                                                                              GI = gastro-intestinal - C&C = cough & cold
   Nazareth, 4 May 2009
                                                                                                                                                                                                                p. 6




                                                                                                                                                                                                                       2
                               Unique positioning

                                100% focus on OTC                            Networks to pharmacists
                                • Carve-out of Arseus (Oct.07)               • Push/pull marketing
                                                                             • Push to the trade (pharmacies)
                                • Major competitors are OTC divisions
                                  of “Big Pharma” or FMCG companies          • Pull to the end-consumer
                                  for whom OTC is non-core or not the        • Major competitors tend to over-
                                  first priority                               emphasize Pull (sub-optimal relation
                                                                               pharmacists)




                                Niche player                                 Innovation & Synergy
                                • Big in relatively smaller segments         • OTC innovation ≠ Rx R&D
                                  (warts, head lice, snoring), with          • Internal development (dermo)
                                  smaller, local competitors
                                                                             • Cooperative agreements with
                                • Major companies all focus on highly          university centres, spin-offs, but also
Free translation of selected      competitive segments (analgesics,            in-licensing (Paranix,…)
   slides from the Dutch-         cough & cold, gastro-intestinal
                                  therapies, smoking cessation,…)            • Acquisitions (Wartner, Silence,…)
      language original
        presentation

   Nazareth, 4 May 2009
                                                                                                                         p. 7




                                                                 Omega Pharma

                                                                       Strategy




                                 Focus on OTC                    Go for Growth                Free Cash Flow




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   Nazareth, 4 May 2009
                                                                                                                         p. 8




                               Growth through innovation
     Growth drivers
     Innovation &
     Brands
                                                                               Based on Paranix, innovative

     Price/quality ratio
                                                                               headlice treatment
     of products                                                               2008: Creation of the umbrella
     Synergies                                                                 brand Para(+) innovative new
     Geographic                  A leading brand for slimming                  products against insects:
     expansion
                                 2008 introduction of XLS Nutrition            mosquitoes, house mite,…
     Generics (Belgium)
                                 (health low-calorie food +
                                 probiotics)



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                                                                                                                         p. 9




                                                                                                                                3
                               Growth based on best Price/Quality ratio
     Growth drivers
     Innovation &
     Brands
     Price/quality ratio
     of products
     Synergies
     Geographic
     expansion
     Generics (Belgium)




Free translation of selected
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                               Bodysol, Belgium                  Claire Fisher, Germany
        presentation

   Nazareth, 4 May 2009
                                                                                                        p. 10




                               Growth based on group synergies
     Growth drivers
     Innovation &
     Brands
     Price/quality ratio
     of products
     Synergies
     Geographic
     expansion                                                          Italian-origin anti-cellulite
     Generics (Belgium)                                                 products
                                   The leading product against          Cross-selling to Spain, Portugal
                                   snoring                              and Greece since 2007-2008
                                   Acquired in April 2007 and           Integration under XLS slimming
                                   already rolled-out to                brand in process
Free translation of selected
   slides from the Dutch-          approximately 20 countries
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                                                                                                        p. 11




                               Growth from generics (Belgium)
     Growth drivers
     Innovation &                  Partnership with EG (Stada)
     Brands
     Price/quality ratio           Nr.1 in Belgium with 60% MS
     of products
                                   >60% of turnover in Belgium
     Synergies
     Geographic                    Historical: low penetration of
     expansion
                                   generics in Belgium
     Generics (Belgium)
                                   Recently, Belgian government
                                   supports generics as a tool to better
                                   control medicine co-payment costs
Free translation of selected       2009-2012: major blockbusters come
   slides from the Dutch-
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        presentation               off-patent
   Nazareth, 4 May 2009
                                                                                                        p. 12




                                                                                                                4
                                Growth from geographic expansion
     Growth drivers
     Innovation &
     Brands
     Price/quality ratio         Acquisitions           Central & Eastern Europe
     of products
     Synergies                                          Middle East
     Geographic                                         Australia – New Zealand
     expansion
     Generics (Belgium)
                                Joint-Ventures          South America
                                                        India

                                    Export
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                                                                                   p. 13




   Geographic spread based on
       turnover Q1/2009         Operating with own Marketing & Sales forces
      Belgium                   in over 30 countries
        27%            France
                        21%
  Emerging
   Markets
     8%

                W-Europe
                  44%




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   Nazareth, 4 May 2009
                                                                                   p. 14




                                New geographic markets


                                   Australia, New-Zealand, Singapore
                                   Switzerland
                                   Czech Republic, Slovakia
                                   Rumania
                                   Hungary
                                   Turkey
                                   Argentina
                                   Dubai
Free translation of selected       India
   slides from the Dutch-
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        presentation

   Nazareth, 4 May 2009
                                                                                   p. 15




                                                                                           5
                               100% of the shares
                               Importer (e.g. of Wartner) for Australia, New-
                               Zealand, Singapore and Malaysia
                               Based in Sydney
                               12 staff, 6 Key Accounts
                               2008 turnover: EUR 4m
                               www.aurorapharm.com
                               Australia: 21 million inhabitants, OTC mainly through
Free translation of selected   retail chains
   slides from the Dutch-
      language original                     = Omega Pharma Australia
        presentation
                                          = Omega Pharma New Zealand
   Nazareth, 4 May 2009
                                                                                             p. 16




                               68.25% of the shares
                               Importer and Swiss distributor of Omega Pharma products and
                               other OTC products
                               Based in Freiburg
                               23 staff, of which 8 in Sales
                               2008 turnover: EUR 9m
                               www.interdelta.ch
Free translation of selected   Switzerland: 7.7 million inhabitants
   slides from the Dutch-
      language original                        = Omega Pharma Switzerland
        presentation

   Nazareth, 4 May 2009
                                                                                             p. 17




                               100% of the shares
                               Based in Olomouc, Czech Republic, also operating in
                               Slovakia
                               67 staff, of which 24 in Sales
                               2008 turnover: EUR 6m
                                    (50% own products, 50% contract manufacturing)

                               Own products: skin care, sun creams, herbal products,,…
                               www.altermed.cz
                               Czech republic and Slovakia: 16 million inhabitants; 4,000
Free translation of selected   pharmacies; 4,000 inhabitants per pharmacy
   slides from the Dutch-
      language original                   = Omega Pharma Czech Republic
        presentation
                                               = Omega Pharma Slovakia
   Nazareth, 4 May 2009
                                                                                             p. 18




                                                                                                     6
                                100% of the shares
                                Based in Bukarest, Rumania
                                2008 turnover: EUR 1m
                                12 staff in Sales
                                www.hipocrate2000.ru
                                Rumania: 22 million inhabitants; 6,000 pharmacies;
                                3,500 inhabitants per pharmacy


Free translation of selected
   slides from the Dutch-
      language original                        = Omega Pharma Rumania
        presentation

   Nazareth, 4 May 2009
                                                                                              p. 19




                                                         O+A
                                   Hungary
                                   90% of the shares
                                   10 staff, of which 5 in Sales (+ 2 contracted)
                                   2008 turnover: EUR 2m
                                   Hungary: 10 million inhabitants; 2,500 pharmacies; 4,000
                                   inhabitants per pharmacy



                                                    = Omega Pharma Hungary

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                                                                                              p. 20




                                                         100% of the shares
                                                         Based in Istanbul, Turkey
                                                         20 staff, of which 13 in Sales +
                                                         contracted sales team
                                                         2008 turnover: EUR 2m
                                  Own product: deo, hand/foot creams, ...

                                  www.fischem.com
                                  Turkey: 70.5 million
                                  inhabitants; 22,000
                                  pharmacies; 3,200

Free translation of selected
                                  inhabitants per pharmacy
   slides from the Dutch-
      language original
                               = Omega Pharma Turkey
        presentation

   Nazareth, 4 May 2009
                                                                                              p. 21




                                                                                                      7
                                                   Cinetic Argentina

                               100% of the shares
                               Based in Buenos Aires, Argentina
                               Hub for South America
                               2 staff in Sales
                               2008 turnover: EUR 1m
                               Argentinia: 40 million inhabitants


                                                   = Omega Pharma Argentina


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   Nazareth, 4 May 2009
                                                                                          p. 22




                                                          Dubai

                                Greenfield branch currently being created
                                Middle-East: 200 million inhabitants; 16,000 pharmacies
                                Currently EUR 2m turnover via Export
                                Gate to the Middle-East (wide definition)


                                                  = Omega Pharma Middle-East




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                                                                                          p. 23




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                                                                                          p. 24




                                                                                                  8
                                   Modi Omega Pharma (India) Private Ltd.




                                                      Modi Omega Pharma (India) Pvt. Ltd




                               India: 1.2 billion inhabitants, 3rd largest pharmaceutical market
Free translation of selected
   slides from the Dutch-                               after US and Japan
      language original
        presentation

   Nazareth, 4 May 2009
                                                                                                                p. 25




                               Financing of the 50/50 joint venture
                                   2 million euro upon incorporation
                                   Commitment for 2 million euro additional funding
                                   Combined: 2 million euro for each JV partner

                                        Note: Modi assumes risks beyond 4 million euro combined
                                        losses over first 6 years
                                        Flow-back to Omega: dividend + royalties
                                        Flow-back to Modi: dividend + supply agreement with JV +
                                        management fee


                               Board of the JV
                                  4 representatives Modi-Mundipharma
Free translation of selected
   slides from the Dutch-
      language original
                                  4 representatives Omega Pharma
        presentation

   Nazareth, 4 May 2009
                                                                                                                p. 26




                               8 brands of
                                                                                                  Calcium
        8 brands               Omega Pharma                                                       range


        15 SKU’s
                                                        Hand, Lip, Feet & Body care

      In 2010, 75
    sales reps will
       introduce
    these products
        to 6,000
    physicians and                                     Cholesterol-lowering                   Anti-cellulite,
                                Anti-snoring                                                    slimming
         10,000
      pharmacies


Free translation of selected
   slides from the Dutch-
      language original
        presentation           Anti-flatulent
                                                                                           Hair restoration
   Nazareth, 4 May 2009                                     Anti-headlice                                       p. 27




                                                                                                                        9
                                                      Omega Pharma

                                                          Strategy




                                Focus on OTC          Go for Growth        Free Cash Flow




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   Nazareth, 4 May 2009
                                                                                            p. 28




                               Products & brand with high gross margin
 FCF enhancing factors
     High gross margins          Star Brands
     Cost reduction plan
                                    Leaders in niche segments
     Working Capital
     optimization plan              Centrally managed
     Low capex                      High synergies
     Lower interest
     rates


                                 Innovation
                                    Justifies premium pricing
                                    Central & local initiatives
Free translation of selected
   slides from the Dutch-           Roll-out & cross-selling
      language original
        presentation

   Nazareth, 4 May 2009
                                                                                            p. 29




                               Cost Reduction plan
 FCF enhancing factors           Benefit from deflation for key services
     High gross margins
                                    Logistics
     Cost reduction
     plan                           Marketing
     Working Capital                Advertising/Media Buying
     optimization plan
                                    …
     Low capex
     Lower interest              Minimum EUR 30 million cost savings in 2009
     rates



                               Working Capital optimization plan

Free translation of selected
   slides from the Dutch-
                                 Over EUR 20 million positive impact
      language original
        presentation

   Nazareth, 4 May 2009
                                                                                            p. 30




                                                                                                    10
                               Low Capex
 FCF enhancing factors            2% to 3% of turnover (excl. acquisitions impact)
     High gross margins
     Cost reduction plan
     Working Capital           Lowering interest rates
     optimization plan
     Low capex
     Lowering interest
                                  Mainly Euribor-based interest rates
     rates
                                  Partly capped at 3.7%
                                  Interesting conditions on major credit facilities



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   Nazareth, 4 May 2009
                                                                                        p. 31




                                                 2008 performance



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                                                                                        p. 32




                               Sales overview 2008

                                in EUR million                 FY 2008     2008/2007

                                Belgium                            205.0         +3%
                                France                             187.5          -2%
                                North-Europe                       102.0         +3%
                                South-Europe                       147.6         +3%
                                Rest Of World                      169.1         +8%
                                Total OTC                          811.3         +3%



                                   Guidance
                                          FY2008: sales growth 3% to 7%
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                                                                                        p. 33




                                                                                                11
                               FY2008 performance per business unit
                                                      FY 2008                     FY 2008                    Margin      Margin
                               in EUR million         Turnover
                                                                      ∆08/07
                                                                                  EBITDA
                                                                                               ∆08/07
                                                                                                             FY2008      FY2007

                               Belgium                  205.0          +3%           29.7       +26%         14.5%       11.9%
                               France                  187.5            -2%          19.4          -8%       10.4%       11.1%
                               North-Europe            102.0           +3%           25.2          -2%       24.7%       25.8%
                               South-Europe            147.6           +3%           22.0       -21%         14.9%       19.4%
                               Rest Of World           169.1           +8%           43.8       +13%         25.9%       24.7%
                               Corporate                                             -10.0
                               Total OTC               811.3           +3%           130.2         +4%       16.0%       15.9%


                                    Belgium: strong in OTC and growth opportunities with generics
                                    France, South-Europe: impact of weight of luxury products in
Free translation of selected        Q4/08 marketing plan     product mix to be adjusted in 2009
   slides from the Dutch-
      language original             UK (ROW), Scandinavia (North-Europe): currency impact
        presentation                Emerging Markets (ROW): fair growth rates sustained
   Nazareth, 4 May 2009
                                                                                                                                 p. 34




                               Estimated impact of currency differences: 1% of
                               turnover

                                                                       Currency split
                                                                           Euro
                                                                           77%




                                                                                             Scandinavian
                                                                                                crowns
                                                                                                  8%
                                                                  Other currencies
                                                                        11%             UK pound
Free translation of selected                                                               4%
   slides from the Dutch-
      language original
        presentation

   Nazareth, 4 May 2009        Chart based on FY2008 turnover
                                                                                                                                 p. 35




                                All profitability indicators better than in 2007
                                Consolidated IFRS figures (in EUR thousands)                         2008        2007     Evolution

                                Net turnover                                                    811,283       789,302          +3%
                                Operating cash flow (EBITDA)                                    130,148       125,554          +4%

                                    As a % of the net turnover                                      16.0%        15.9%

                                Depreciations and amortization (DA)                                -21,672     -16,427        +32%

                                Non-recurring items                                                 -9,901     -23,133        -57%
                                Operating result (EBIT)                                            98,575       85,994        +15%
                                Financial result excl. non-recurring financial charges             -35,827     -34,437         +4%

                                Non-recurring currency exchange differences                         -4,040

                                Result from ordinary activities before taxes                       58,708       51,557        +14%
                                Income tax                                                          -7,900      -7,869            0%
                                Net result from ordinary activities operations                     50,808      43,688        +16%
Free translation of selected    Net result from associates (24% participation Arseus)               3,569        2,106        +69%
   slides from the Dutch-
                                Net result from continuing operations                              54,377      45,794        +19%
      language original
        presentation            Recurring net result from continuing operations(3)                 66,442       65,396         +2%

   Nazareth, 4 May 2009
                                                                                                                                 p. 36




                                                                                                                                         12
                               Working Capital management
                                     21.0               22.4                      20.8

                                                                  16.8
                                                                                                        15.3
                                                                                                 12.2




                                     2003             2004        2005            2006           2007   2008


                                    Considerably improvements in 2007/2008 vs 2003/2006
                                    In 2008, Working Capital is on purpose been used as a temporary
                                    instrument to accelerate the growth impact of the enhanced
                                    innovation strategy
                                    +EUR 20m improvement plan in 2009
Free translation of selected
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        presentation

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                                                                                                               p. 37




                               Strong balance sheet - Assets
                               IFRS figures
                               in thousand euro                           2007            2008
                               Non-current assets                         968,250        1,002,647
                                 Intangible assets                         845,318         878,967
                                 Property, plant, equipment                 50,199          50,074
                                 Financial assets                           45,508          46,467
                                 Of which: Associates                       42,774          44,527
                                 Deferred income tax assets                 26,384          26,318
                                 Other non-current assets                        841             821
                               Current assets                             358,449         414,606
                                 Inventories                               100,686         122,931
                                 Trade receivables                         176,651         202,242
                                 Other current assets                       45,683          55,640
Free translation of selected     Cash and cash equivalents                  35,429          33,793
   slides from the Dutch-
                               TOTAL ASSETS                              1,326,699       1,417,253
      language original
        presentation

   Nazareth, 4 May 2009
                                                                                                               p. 38




                               Strong balance sheet - Liabilities
                               IFRS figures in thousand euro              2007           2008
                               EQUITY                                     612,166        600,520

                               LIABILITIES                                714,533        816,733
                               Non-current liabilities                    450,774        439,299
                               Provisions                                     6,267         3,887
                               Pension obligations                            8,369         6,147
                               Deferred income tax liabilities               68,059        69,045
                               Borrowings                                   334,439       344,781
                               Other non-current liabilities                      64            14
                               Derivative financial instruments              33,576        15,425
                               Current liabilities                        263,759        377,434
                               Borrowings                                    22,526       101,850
                               Trade payables                               180,421       200,930
                               Income tax liabilities                        26,115        27,207
Free translation of selected
   slides from the Dutch-      Taxes, remun. & social security               14,005        13,762
      language original        Other current payables                        20,692        28,631
        presentation
                               Derivative financial instruments                             5,054
   Nazareth, 4 May 2009        Total Equity & Liabilities                1,326,699     1,417,253
                                                                                                               p. 39




                                                                                                                       13
                               Strong financial structure

                               LT Financial liabilities            EUR
                                                                  million
                                                                            Comments
                               December 31, 2008
                                                                            Concluded in 2004
                                                                            €231m (44.7m maturity in 2H2009)
                               US Private Placement                186      Interest and currency swaps
                                                                            Remaining maturities: 55% in 2011, 18% in
                                                                            2014 and 7% in 2016
                               Other (incl. syndicated                      Concluded 12/2006 (€600m      €450m)
                               revolving credit                    159      Plenty of headroom ▪ Interesting conditions
                               facility)                                    Maturity: end 2011


                                 Net Financial Debt 433m                               In-line with covenant
                                 • 48m impact from share buy-back                      • NFD/EBITDA for covenant ratio
                                   program                                               (treasury shares = cash equivalent,
Free translation of selected                                                             annualized recurring EBITDA OTC
                                 • Impact from temporary use of Working
   slides from the Dutch-                                                                + 24% Arseus)
                                   Capital as commercial instrument
      language original                                                                • 2.9x versus 3.25x maximum
        presentation

   Nazareth, 4 May 2009
                                                                                                                         p. 40




                                Abbreviated statutory accounts
                                Key figures balance sheet
                               in thousand euro                                      2008             2007

                               Shareholders Equity                                694 310          792 297
                               Debt                                               595 520          462 259
                               Total liabilities                                1 289 830        1 254 556




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                                Abbreviated statutory accounts
                                Key figures P&L account

                                in thousand euro                                      2008             2007

                                Operating income                                    16 828            24 577
                                Operating charges                                   15 338            25 790

                                Operating profit                                     1 490            (1 213)

                                Financial result                                       743           237 354

                                Profit from ordinary activities                      2 233           236 141

                                Exceptional result                                    (853)         (11 084)
                                Profit before taxes                                  1 380           225 057
                                Taxes                                                  (31)              (76)
                                Net profit for the financial year                    1 349          224 981
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                                                                                                                                 14
                                Appropriation of the result
                               in thousand euro                                 2008           2007

                               Profits for the year to be appropriated          1 349       224 981
                               Profit carried forward from the previous
                                                                              361 145       197 791
                               financial year
                               Profits to be appropriated                     362 494       422 772
                               Transfers to capital and reserves               46 230        48 524

                                    To statutory reserves                            1           14
                                    To other reserves                          46 229        48 510

                               Result to be carried forward                   301 728       361 145

                               Profit to be distributed as dividends           14 536       13 103

                               (Proposal) Gross Dividend/share              0.60 euro     0.50 euro
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                                                         2009
                                                    outlook - status



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                               Continue Innovation Strategy
 2009 Strategic accents
                                  Opportunity to gain market share from local
                                  competitors who reduce investments in
     Continue
     innovation
                                  innovation because of recession
     strategy
                                  Focus on Value-For-Money offerings in our
     Roll-out products            extended, existing product portfolio
     to new markets
     Cost reduction
                                  Benefit from anti-cyclical nature of generics in
     program                      Belgium
     Focus on Working
     Capital mngt.
     Optimize financial
                                                  Roll-out products to new markets
     management
                                                      Preparatory work has been done in 2008
     Cash management
                                                      Adjusted forecasts for CEE markets, but definite
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                                                                                                              15
                               Synergies: continue roll-out and cross-selling


                               Russia (a)            Czech Republic.(a)   Ukraine (b)          Australia (b)        Austria (a)
                               Baltics (a)           Slovakia (a)         Poland (c)           N-Zealand (b)        Poland (a)
                               Poland (a)            Hungary (a)          Baltics (b)          Brazil (b)           Hungary (b)
                               Ukraine (b)           Poland (a)           Czech Republic (a)   Turkey (a)           Rumania (b)
                               Austria (a)           Baltics (a)          Slovakia (a)         Qatar (b)            Croatia (b)
                               Rumania (b)           Rumania (b)          Hungary (b)          Arab. Emirates (b)   Bulgaria (b)
                               Czech. Republic (a)   Croatia (b)          Russia (c)           Saudi Arabia (b)     Serbia (b)
                               Slovakia (a)          Austria (a)          Kuwait (a)           Singapore (a)        Russia (b)
                               Hungary (b)           Australia (b)        Iran (b)             Malaysia (b)         Iran (b)
                               Turkey (b)            N-Zealand (b)        Saudi Arabia (b)                          Saudi Arabia (b)
                               Australia (a)         Turkey (b)           Arab. Emirates (b)                        Arab. Emirates (b)
                               N-Zealand (a)         Saudi Arab. (b)      Australia (c)                             Australia (a)
                               Jordan (a)            Qatar (b)            New Zealand (c)                           New-Zealand (a)
                               Iran (b)              Arab. Emirates (b)   Argentina (b)                             Mexico (b)
                               Saudi Arab. (b)       Iran (b)             Chile (b)                                 Carribean (b)
                               Arab. Emirates (b)    Argentina (b)        Singapore (b)
                               Singapore (a)         Mexico (b)           Korea (b)
                               Malaysia (a)          Brazil (b)           Hongkong (b)
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                               (a)   Market introduction already in 2008
                               (b)   Market introduction scheduled for 2009
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                               (c)   Market introduction 2010                                                                        p. 46




                               2009 outlook

                                     Under normal economic conditions, Omega Pharma would
                                     look forward to a strong 2009.
                                     Omega Pharma still appears to be a little to moderately
                                     sensitive to the recession.
                                     Slight top-line growth




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                               Status
                                     Q1/2009 turnover -1%
                                     EUR 6m savings achieved on group level in Q1/2009
                                     Progress in Working Capital reduction plan
                                     Plan announced to strengthen innovation capabilities by
                                     creating 15 new jobs in this area
                                     Joint venture in India is formalized:
                                           8 products of Omega Pharma will be launched between
                                           October 2009 and April 2010
                                           Further explore low-cost manufacturing option in the future
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                                                                                                                                             16
                               Q1/2009 Trading Update


                               in EUR million            Q1/2009    Q1/2008    2009/2008


                               Belgium                       51.6       46.5        +11%

                               France                        41.0       43.9         -7%

                               Western Europe                84.6       89.5         -6%

                               Emerging Markets              16.3       16.1         +1%

                               Total                        193.5      196.0         -1%



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                                                       Conclusion

                                                      Robust Business Model
                                                plus mid/long term opportunities
                                                  in a promising and attractive
                                                           OTC sector



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                                                   Update
                                            Corporate Governance
                                                     at
                                               Omega Pharma


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                                                                                                   17
                               Current composition of the Board of Directors




                                    Members and/or their permanent representatives (from left to right):
                                    Lucas Laureys, Jan Boone, Marc Coucke, Jean-Louis Duplat, Benoit
                                    Graulich, Sam Sabbe
                                    7 members, of whom 4 independent directors
                                    Independent Chairman (Lucas Laureys)
                                    Meets al requirements of the Belgian Corporate Governance Code
                                    Efficient
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                               Composition of the committees of the Board of Directors

                               Member of the Board         (or its       Audit             Appointment and
                               permanent representative when
                               applicable)
                                                                       committee        remuneration committee


                               Lucas Laureys

                               Jan Boone
                                                                       Chairman

                               Benoit Graulich
                                                                                                Chairman

                               Jean-Louis Duplat


                                  Only independent directors are member of the committees

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                               Current composition of the Executive Committee




                                 Members and/or their permanent representatives (from left to right.):
                                    Marc Coucke, Chief Executive Officer
                                    Barbara De Saedeleer, Chief Financial Officer
                                    Mario Debel, Head of Marketing & Innovation
                                    Ton Scheepens, Head of Operations
                                    Jan Cassiman, Chief Operating Officer Emerging Markets
                                    Sam Sabbe, Chief Strategy Officer

                                      6 members, of whom 2 who are also member of the Board
                                      Tight team – expertise covers all business areas
                                      Sufficient management capacity: all country organisations report directly on one
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                                                                                                                                 18
                               Remuneration Executive Committee

                                                                 Base             Variable
                               Name                                                                       Total
                                                          remuneration        remuneration
                               Marc Coucke, CEO                 600 000               20 000          620 000
                               The other members
                               of the Executive               1 600 000              120 000       1 720 000
                               Committee
                               Total                           2 200 00             140 000       2 340 000




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                                Evolution in the field of Corporate Governance
                                over the past 3 years

                                    Split functions Chairman-CEO
                                    Independent Chairman
                                    4 members (on a total of 7) meet the independency criteria of both
                                    the Belgian Company Code as the Belgian Corporate Governance Code
                                    Annual Meeting and Annual Report 1 month advanced
                                    No renewal of the authorization to the Board of Directors within the
                                    authorization of authorized capital, to implement a capital increase in
                                    case of a public take-over bid.
                                    No renewal of authorization to purchase own shares in case of a
                                    threatening serious disadvantage
                                    Introduction of registration date for annual meeting (more flexible
                                    conditions to participate)
                                    Merger of Appointment Committee and Remuneration COmmittee
                                    improved efficiency
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                               Omega Pharma complies with all principles and provision of the
                               Belgian Corporate Governance code


                               Except: shareholders should at least represent 10% (instead of 5%)
                               of the share capital in order to put a topic on the agenda of the ASM


                               Explanation: (considering the annual rotation of shares) prevent
                               that investors with a short-term vision would impact too heavily the
                               strategy of the company, which is aimed at continuity and
                               sustainable achievements in the mid-term.

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                                                                                                                      19
                               This presentation includes forward-looking statements (statements that are not
                               historical facts and relate to the future activities and performance) that involve
                               risks and uncertainties. These forward-looking statements include statements
                               about future strategies and the anticipated benefits of these strategies, and they
                               are subject to risks and uncertainties. Actual results may differ materially from
                               those stated in any forward-looking statement based on a number of factors,
                               including the early stage of Omega Pharma group’s consideration of these
                               strategies, the possibility that Omega Pharma group may decide not to implement
                               these strategies, the ability of Omega Pharma group to successfully implement
                               them, and the possibility that the anticipated benefits of these strategies are not
                               achieved. Omega Pharma group assumes no obligation to update the information
                               contained in this presentation. Considering the reduced visibility which is inherent
                               to the current economic environment, differences between expectations and
                               reality may vary more strongly than before.




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                                                                                                                              20

								
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