STADA UniCredit Bank AG German Investment Conference September 26, 2013, Munich

STADA
UniCredit Bank AG
German Investment Conference
September 26, 2013, Munich
Please note the legal information at the beginning of the presentation.
General information
By making use of this document the reader acknowledges and agrees to the following:
We accept no liability arising from the use of this document.
STADA Arzneimittel AG, Bad Vilbel (in the following “STADA”), has made every effort to make sure that this document contains
correct and up-to-date information. However, it accepts no responsibility or guarantee whatsoever in respect of topicality, accuracy
and completeness of the information and assumes no obligation to update, complete or correct the information contained therein.
The anticipated opportunities and risks to STADA’s activities have been described in detail in the Executive Board’s management
reports in the annual reports. Current possible opportunities and risks are mentioned in the respective interim report.
STADA’s performance indicators are party influenced by one-time special effects and/or effects not arising from the operating
business. Disclosure of key figures adjusted for these effects (so called “pro forma” key figures) by STADA is only to provide a
supplement to the recorded IFRS key figures for a transparent comparison to a relevant period from the previous year.
All text, pictures, trademarks, and other information contained in this document are subject to the copyright of STADA or subject to
rights acquired from third parties. Trademark protection may apply even for preparations not indicated as trade marks. This document
may not be reproduced in whole or in part without the express written consent of STADA.
Any disputes arising out of or in connection with the content of this document, insofar as they are directed against STADA, shall be
subject to German law, without prejudice to mandatory provisions of foreign law. The place of jurisdiction is Frankfurt am Main to the
extent legally permissible.
Note:
The prior year figures have been adjusted according to IAS 8 in conjunction with IAS 1, as the revised reporting standard IAS 19
(revised 2011) “Employee benefits” is to be applied retrospectively for the first time as of January 1, 2013. The adjustments relate to
the presentation of the balance sheet as of December 31, 2012 as well as the income statement and corresponding derived key
figures of the first six months of 2012.
Company presentation  September 2013
www.stada.com
Page 2
Forward-looking-statements
This STADA Arzneimittel AG presentation (subsequently "STADA") contains certain statements regarding future events
(as understood in the U.S. Private Securities Litigation Reform Act of 1995) that express the beliefs and expectations of
management. Such statements are based on current expectations, estimates and forecasts on the part of company
management and imply various known and unknown risks and uncertainties, which may result in actual earnings, the
financial situation, growth or performance to be materially different from the estimates expressed or implied in the
forward-looking statements. Statements with respect to the future are characterized by the use of words such as
“expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate” and similar terms. STADA is of the opinion that the
expectations reflected in forward-looking statements are appropriate; however, it cannot guarantee that these
expectations will actually materialize. Risk factors include in particular: The influence of regulation of the pharmaceutical
industry; the difficulty in making predictions concerning approvals by the regulatory authorities and other supervisory
agencies; the regulatory environment and changes in the health-care policy and in the health care system of various
countries; acceptance of and demand for new drugs and new therapies; the influence of competitive products and prices;
the availability and costs of the active ingredients used in the production of pharmaceutical products; uncertainty
concerning market acceptance when innovative products are introduced, presently being sold or under development; the
effect of changes in the customer structure; dependence on strategic alliances; exchange rate and interest rate
fluctuations, operating results, as well as other factors detailed in the annual reports and in other Company statements.
STADA not assume any obligation to update these forward-looking statements or adapt them to future events and
developments.
The STADA Executive Board:
H. Retzlaff (Chairman), H. Kraft, Dr. M. Wiedenfels
Company presentation  September 2013
www.stada.com
Page 3
STADA – leading position in key markets
Company
Sales 2012 in € million
01 Teva
15,371
02 Sandoz
6,583
03 Actavis
6,0521)
04 Mylan
5,145
05 STADA
1,838
06 Ranbaxy
1,686
07 Dr. Reddy‘s
1,3922)
08 Krka
1,143
09 Gedeon Richter
1,130
10 Cipla
1,0402)
Belgium: # 1
Serbia: # 1
Eurogenerics
Hemofarm
Nizhpharm
Russia: # 23) MAKIZ
Germany: # 3
ALIUD
STADApharm
Italy: # 4
EuroGenerici
Spain: # 3
Laboratorio
STADA
Data source: Annual Reports. Currency translation as of Dec. 31, 2012
1) Pro forma added sales as per “Watson to Acquire Actavis Group” Presentation 25.04.2012.
2) End of fiscal year: March 31, 2012.
3) Local suppliers/producers.
Company presentation  September 2013
www.stada.com
Page 4
Financial key figures 1-6/2013
Group sales
 € 974.3 million (+10%)
Adjusted EBITDA1)
 € 189.8 million (+7%)
Adjusted earnings per
share2)
 € 1.18 (-1%)

Dynamic sales
development in
H1/2013
Net debt
€ 1,211.9 million
Net debt/
adjusted EBITDA1)
 3.2
1) Adjusted for one-time special effects. 2) Adjusted for one-time special effects and non-operational effects from the evaluation of derivative financial instruments.
Company presentation  September 2013
www.stada.com
Page 5
Sales 1-6/2013
By market region
By segment
Total group € 974.3 million
+10% (+6%)
Core segments € 954.8 million
+10% (+7%)
Germany
€ 238.6 million
-2% (-2%)
3.7%
24.5%
30.0%
41.8%
Central Europe
€ 407.3 million
+1% (-1%)
Generics
€ 618.3 million
+6% (+4%)
2.0% 0.0%
63.5%
34.5%
Branded products
€ 336.5 million
+18% (+14%)
CIS/Eastern Europe
€ 292.5 million
+30% (+28%)
Commercial
business
€ 19.2 million
>100% (+3%)
Asia & Pacific
€ 35.9 million
>100% (+11%)
Group holdings/
other and
consolidation
€ 0.3 million
-95% (-94%)
() = Adjusted for changes in the Group portfolio and currency effects.
Company presentation  September 2013
www.stada.com
Page 6
Top countries in the market region 1-6/2013
Central Europe
Sales in € million
1-6/2013
Share of total sales
1%
8%
∆ vs. 1-6/2012
in %
+11 (Generics: +24)
Italy
87.2
Belgium
71.3
Spain
52.5
5%
0%
-13
France
46.4
4%
1%
+17
CIS/Eastern
Europe
Sales in € million
1-6/2013
Russia
194.2
Serbia
40.3
Germany
Germany
Asia & Pacific
Vietnam
Sales in € million
1-6/2013
7%
Share of total sales
8%
30.9
12%
3% 1%
Share of total sales
∆ vs. 1-6/2012 in
%
∆ vs. 1-6/2012
CER1) in % Branded
+33
+29
+28
products
∆ vs. 1-6/2012
in %
-4
Share of total sales
∆ vs. 1-6/2012 in
%
2% 1%
Generics
+30
7%
16%
222.3
Sales in € million
1-6/2013
-1
0%
>100
∆ vs. 1-6/2012
CER1) in %
>100
1) CER: in constant exchange rates.
Company presentation  September 2013
www.stada.com
Page 7
Growth driver patent expiry
New sales potential becoming available for generics
competition (in € billion)

Record number of product launches
 Launch of 717 individual products worldwide in
2012
 352 new products in 1-6/2013 (367 in 1-6/2012)

Rich pipeline:
 Planning horizon: > 2020
 Current approval procedures: > 130 active
ingredients worldwide for > 50 countries
 Over 1,000 pharmaceutical ingredients, over
13,000 product packagings marketed by the Group
Global1)
23,2
17,9
17,4
16,9
11,2
2013
2014
2015
2016
2017
14
2018
Germany2)

0,9
0,6
2013
0,7
0,7
0,8
0,5
2014
2015
2016
2017
Optimization in the area of development
 Expansion of Vrsac (Serbia) as an additional
development center (approx. 50% of current own
development)
 Establishment of development contracts in India
(currently four pilot projects)
2018
Source: STADA estimate of sales volumes at ex-factory prices. 1) As of December 2010. 2) As of December 2012.
Company presentation  September 2013
www.stada.com
Page 8
Low penetration rates create volume
opportunity in Central Europe
Country
Off-patent market Generics market
in € million
in € million
Generics penetration
31%
Belgium
1,746
537
Italy
6,945
2,395
Switzerland
1,491
603
41%
Spain
4,926
1,997
41%
10,750
5,407
34%
By
comparison
Germany
50%
Source: STADA estimate at ex-factory prices based on market data provided by various international market research institutes for 2012.
Company presentation  September 2013
www.stada.com
Page 9
Top growth market Russia
Generics sales
(in € million)
Branded products sales
(in € million)
Development of the Russian pharmaceutical market
(in USD million)
Total 1-6/2013: € 194.2 million (+30%)
+42%
5,894
117.5
+16%
66.3
6,697
76.7
5,262
4,746
82.7
4,317
3,859
5,894
5,164
4,589
4,120
3,730
Generics
OTC
3,412
1-6/2012
1-6/2013
1-6/2012
STADA CIS representative offices
STADA CIS: Approx. 900 sales representatives
2011
1-6/2013
2012
2013e
2014e
2015e
2016e

Estimated value of the Russian pharmaceutical market:
USD 16 billion in 2012

Average annual rate of sales growth in 2011-2016 of
approx. 11.7% for OTC and generics



STADA: No. 2 among local suppliers/ producers

Limited government regulation (“vital and essential drug
list”)
82% of the market "out of pocket" (STADA: 91%)
Increasing government health spending via GDP growth
and more available income
Source: STADA, Broker Research.
Company presentation  September 2013
www.stada.com
Page 10
Opportunities in Vietnam
 Pharmaceutical market USD 2.4 billion in total, 19% growth in 2012
 Campaign "Vietnamese use Vietnamese Medicine" domestic production should cover 60%
of the entire pharmaceuticals sales in 2013 (40% in 2011)
 Advantage for local companies with high technical standards for state
hospital tenders
 High percentage of self-pay patients (60%), no comprehensive insurance system
 STADA is present in the region with two operationally active consolidated companies,
expected sales in 2013 approx. € 50 million
 Production sites are increasingly used for exporting to Western Europe
(EU-certified) and as a regional production hub
 Pymepharco: #5 in the market with approx. 4% of generics market share, top position with
generic cephalosporin
 Extensive sales force (> 100 sales employees)
Data source: Scrip Intelligence January 16, 2013, STADA
Company presentation  September 2013
www.stada.com
Page 11
Biosimilar activities





Successful Epo Development created deep experience in EMA biosimilar procedures
Tap into the opportunity with the right risk/benefit approach for the company
Opt for an in-licensing strategy amongst others based on the company‘s experience with marketing of
Epo in Europe
Avoid R&D expense on the P&L – backloaded, success oriented milestone payments
Select experienced partner
License and collaboration agreements for the development and marketing of two
biosimilar products signed with Gedeon Richter Plc.

Purchase of non-exclusive rights for Europe and the CIS area1) for Rituximab as well as the
option for a distribution license for Trastuzumab on similar conditions

Rituximab: monoclonal antibody for the treatment of various forms of cancer, European market
volume approx. EUR 1.15 billion p.a.

Trastuzumab: monoclonal antibody for treatment of certain forms of breast cancer and
stomach cancer, European market volume approx. EUR 1.39 billion p.a.
1) At
first not including Russia due to regulatory reasons. Should such a partially-exclusive marketing license be possible in Russia according to regulations, STADA will then receive
such a license there from Richter.
Company presentation  September 2013
www.stada.com
Page 12
Branded Products contribute 52% to
adjusted operating profit1)
52%
46%
33%
24%
26%
2008
26%
2009
37%
36%
27%
2010
33%
35%
28%
2011
2012
1-6/2013
Share of Branded Products in
adjusted operating profit1)
Share of Branded Products in sales1)
1) of the two core segments Generics and Branded Products.
Company presentation  September 2013
www.stada.com
Page 13
Continuous improvement in margins
Adjusted1) EBITDA margin in %
19.3%
17.8%
2008
19.7%
20.0%
19.5%
18.3%
2009
2010
2011
2012
Positive
outlook
for H2/2013
1-6/2013
 Expansion of self-pay portfolio
 Shift to high margin product / country mix
 Economies of scale effects (volume gains)
1)
Adjusted for one-time special effects and non-operational effects from currency influences (2008-2010) .
Company presentation  September 2013
www.stada.com
Page 14
Selected STADA leadership brands
 #1 in Germany
 Zinc deficiency
 #3 in Germany
 Sedative, sleeping
disorders
 #1 in Germany
 Inflammation
of oral cavity
 #6 in Russia
 Nasal
decongestant
 #5 in Germany
 Joint and
muscle pain
 #1 in
Germany
 Sunscreen
 Apo-Go
 #1 in UK in
apomorphines
 Parkinson‘s
medication
 #1 in Germany
 Cough and cold
medicine
Cetraben
#6 in UK
Skin eczema
and dry skin
 Levomecol
 #1 in Russia
 Connective tissue
infection (Phlegnom)
 Hexicon
 #2 in Russia
 Antiseptic
(women‘s
health)
 #3 in Germany
 Magnesium deficiency
Company presentation  September 2013


 Tramal

 #1 in Poland
 Chronic Pain
 Chondroxid
 #3 in Russia
 Degenerative joint
disorder
www.stada.com
 Vitaprost
 #2 in Russia
 Chronic
Prostatitis
Page 15
Expansion of branded product portfolio
Internationalisation
Acquisitions
Marketing Campaigns
Snup®
Tranexam®
Grippostad®
Baktistatin®
Mobilat®
Ladival®
Vuka-Vuka®
Gynecology portfolio
Apo-Go®
Safocid®
Magnetrans®
Snup®
Tramal®
Expansion of the OTC sales platform,
e. g. Hemopharm (D), LERO (F), Spirig (CH), NEOCARE (BE)
Company presentation  September 2013
www.stada.com
Page 16
Company presentation  September 2013
www.stada.com
Page 17
Deal Update
 Purchase of British OTC supplier Thornton & Ross including sales & marketing infrastructure and
an EU-GMP certified production site (425 employees, thereof 33 in sales); Thornton management is
to retain responsibly and establish a Group-wide Center of Excellence for the OTC area
 The effective purchase price amounts to 193 million British pounds (at purchase date
exchange rate approx. 226 million euro)
 Attractive business combination with the #5 in the British OTC market (pharmacy) allows for the
expansion of the already strong presence in the area of branded products in the United Kingdom.
Additional strengthening of international business and the development of new markets
 Balanced OTC product portfolio with leading brands and an attractive growth potential for the
indications cough (Covonia), muscle ache (Radian B) and cold/pain (umbrella brand Care), in the
prescription derma area (Zeroderma, Aquamol) as well as for the treatment of headlice (Hedrin) and
in the area of disinfectants (Zoflora)
 Sales 2012/2013 of approx. € 77 million (+11%) and EBITDA of approx. € 20 million
 Synergies: potential introduction of prescription-free branded products in the United Kingdom, taking
over of strong-margin derma products by STADA UK and expansion of product presence in Ireland
 Positive EPS contribution directly after consolidation (expected for September)
Company presentation  September 2013
www.stada.com
Page 18
Company presentation  September 2013
www.stada.com
Page 19
Roadmap
2009
2012
2014
€ 1.57 billion
€ 1.84 billion
€ 2.15 billion at
min.
EBITDA1)
€ 287.5 million
€ 367.5 million
€ 430 million at
min.
Net income2)
€ 115.8 million
€ 147.9 million
€ 215 million at
min.
Sales
Components of growth
 Organic Group development
 “STADA – build the future” (BtF)
 Acquisitions in 2012
Assumptions/ framework conditions: BtF investments to 2013 totaling approx. € 20 million, BtF
costs (one-time special effects) to 2013 totaling approx. € 50 million.
1) Adjusted for one-time special effects (2009-2012) as well as effects from currency influences (2009/2010). 2) Adjusted for one-time special effects (2009-2012) and non-operational
effects from currency influences (2009/2010) and interest rate hedge transactions (2009-2012).
Company presentation  September 2013
www.stada.com
Page 20
Your Contact:
STADA Arzneimittel AG
Investor Relations
61118 Bad Vilbel, Germany
Telefon: +49 (0) 6101 603-113
Telefax: +49 (0) 6101 603-506
E-Mail: [email protected]
www.stada.de
Director Investor
Relations:
Dr. Markus Metzger
[email protected]
Please note the legal information at the beginning of the presentation.
Notes
Please note the legal information at the beginning of the presentation.
Development of Sales 1-6/2013
 Sales increase 1-6/2013 of 10.1%
Group sales in €
+4.5%
-0.8%
974.3
 Organic1) sales growth 6.4%
 Portfolio effects:
+6.4%
+4.5 percentage points, primarily due to the
consolidation of Vietnamese subsidiary
Pymepharco, product acquisitions in CIS, the
purchase of a wholesale business in
Switzerland and of a branded product
portfolio in Central Europe
885.2
 Currency effects:
1-6/2010 Organic1) Portfolio Currency 1-6/2011
1-6/2012
1) Adjusted
Organic1)
Portfolio Currency 1-6/2013
-0.8 percentage points, a slight appreciation
of the Serbian dinar could not fully
compensate the devaluation of the Russian
ruble and the pound sterling
for changes in the Group portfolio and currency effects.
Company presentation  September 2013
www.stada.com
Page 23
Outlook for market regions 2013
2013e1) Sales
development
2013e1)
Operating
profitability
Environment
Germany

+(+)
Constant development of the highly profitable
branded products; continued difficult local
framework conditions for generics
Central Europe

++
Positive trends in, among others, Italy, France,
Austria, Ireland
CIS/Eastern
Europe

+++
Strong growth particularly in Russia, Ukraine,
Kazakhastan and Serbia
Asia & Pacific

+++
Pymepharco consolidated for the first time,
growth market Vietnam
+++
++
+
o
-
=
=
=
=
=
above Group operating margin
in the range of Group operating margin
below Group operating margin
Break-even
operating loss
1) 2013e: STADA's current expectation for financial year 2013 in local currency.
Company presentation  September 2013
www.stada.com
Page 24
Key earnings figures 1-6/2013
EBITDA (in € million) 1-6/2013 vs. 1-6/2012
adjusted1)
reported
Net income (in € million) 1-6/2013 vs. 1-6/2012
adjusted2)
reported
+7%
+15%
176.7
184.1
189.8
+0,3%
+38%
160.7
66.6
69.9
70.1
48.2
1-6/2012

1)
2)
1-6/2013
1-6/2012
1-6/2013
1-6/2012
1-6/2013
1-6/2012
1-6/2013
Temporary tax effect leads to nearly unchanged adjusted net income in 1-6/2013
Adjusted for one-time special effects.
Adjusted for one-time special effects and non-operational effects from the evaluation of derivative financial instruments.
Company presentation  September 2013
www.stada.com
Page 25
Stable balance sheet structure
June 30, 2013
Dec. 31, 2012
A. Non-current assets
1,785.2
1,801.4
B. Current assets
1,465.7
1,180.7
Total assets
3,250.9
2,982.1
June 30, 2013
Dec. 31, 2012
A. Shareholders’ equity
940.5
912.3
B. Non-current liabilities
1,468.3
1,100.2
842.1
969.6
3,250.9
2,982.1
Assets in € million
Equity and liabilities in € million
C. Current liabilities
Total equity and liabilities
Net debt in € million
Net current assets in € million
698.5
1,177.3
740.0
Dec. 31, 2012 June 30, 2013
Dec. 31, 2012 June 30, 2013
Company presentation  September 2013
1,211.9
www.stada.com
Page 26
Cash flow from operating activities
and free cash flow
Cash flow from operating activities (in € million)
2008-2012
250.5
194.8
129.3
212.7
1-6/2013 vs.
1-6/2012
169.0
51.6
2008
2009
2010
2011
2012
1-6/2012
43.1
1-6/2013
Free cash flow1) (in € million)
2008-2012
144.0
1-6/2013 vs.
1-6/2012
102.4
-14.0
-18.1
-255.8
2008

1)
-0.1
2009
2010
2011
2012
-356.4
1-6/2012
1-6/2013
Free cash flow adjusted for payments for significant acquisitions and proceeds from significant disposals
amounted to € 13.5 million in 1-6/2013 (1-6/2012: € 24.6 million).
Free cash flow comprises cash flow from operating activities and cash flow from investing activities.
Company presentation  September 2013
www.stada.com
Page 27
Balanced and stable financing structure
Remaining maturities of financial liabilities due to banks as of June 30, 2013 in € million



2013
1)
2)
2014
2015
2016
2017
Corporate bond1)
Credit lines
Promissary notes1)
> 2017

Successful refinancing: Second corporate bond secured in the amount of € 350 million with a maturity of
5 years and a 2.25% coupon

The net debt to adjusted EBITDA1) ratio as of June 30, 2013 has on linear extrapolation of the adjusted
EBITDA of the first half of 2013 on a full year basis decreased to 3.2 (June 30, 2012: 3.6);

Cash and cash equivalents including current securities: € 310.6 million (December 31, 2012: € 92.8
million)

Access to committed credit lines from banking partners for many years
Nominal value
Adjusted for one-time special effects.
Company presentation  September 2013
www.stada.com
Page 28
P&L details 1-6/2013
1-6/2013 in € 1-6/2013 in %
million
of Sales
1-6/2012 in € 1-6/2012 in %
million
of Sales
Gross profit
476.9
48.9
436.8
49.3
Selling expenses
224.9
23.1
211.4
23.9
G&A expenses
84.1
8.6
77.6
8.8
R&D expenses
27.5
2.8
25.7
2.9
Financial Result
-29.5
-28.6
Taxes on income
34.7
24.2
 Stable gross margin: changed product (price) mix and continued cost savings
 Tax rate 1-6/2013, adjusted for special effects increased to 33.6%, due to temporary tax
effects (1-6/2012: 27.4%)
 Average weighted interest rate for all Group financial liabilities as of June 30, 2013 at the
level of the previous year with 3.8% (Dec. 31, 2012: approx. 4.3%)
Company presentation  September 2013
www.stada.com
Page 29
Earnings figures 1-6/2013
Adjusted for one-time special effects &
non-operational effects
1-6/2013
∆vs.
1-6/2012
1-6/2013
∆ vs.
1-6/2012
Operating profit
131.7
+30%
137.6
+8%
EBITDA
184.1
+15%
189.8
+7%
EBIT
132.3
+27%
138.2
+7%
EBT
102.1
+40%
106.8
+10%
Net income
66.6
+38%
70.1
+0,3%
EPS in €
1.12
+37%
1.18
-1%
EPS in € (dil.)
1.10
+38%
1.16
-1%
In € million
Company presentation  September 2013
www.stada.com
Page 30
Balance sheet detail: Intangible assets
Residual carrying amounts of intangible assets at the end of reporting period in € million
June 30, 2013
2012
2011
2010
2009
2008
Goodwill
461
456
319
323
331
339
Approvals, trademarks etc.
865
850
568
563
571
567
99
111
260
100
98
95
1,425
1,417
1,147
986
1,000
1,001
Advance payments made
Total
 Top positions in terms of goodwill as of June 30, 2013:
 Market region Central Europe – Segment generics: € 122.3 million
 Market region CIS/Eastern Europe– Segment generics: € 103.3 million
 Market region Central Europe – Segment branded products: € 94.1 million
 Market region CIS/Eastern Europe– Segment branded products: € 95.7 million
Company presentation  September 2013
www.stada.com
Page 31
Expenses for capital expenditure
1-6/2013 vs. 1-6/2012
Total expenses 2008-2012 € million
482.4
Purchase of consolidated companies
333.3
195.2
407.3
Essential investment in intangible assets for
short-term expansion of the product
portfolio
325.2
170.6
Investment in other intangible assets
(support organic growth)
133.7
9.7
41.7
9.0
27.4
97.1
46.4
26.9

57.4
77.4
52.3
6.9
7.6
37.9
30,3
3,5
16.3
16.9
30.7
0.9
30.5
22.0
0.3
13.0
0,5
15.2
0,0
2010
2011
32.2
50.8
2008
46.6
6.4
72.2
4.8
Investment in property, plant and
equipment (maintenance)
85.0
42.2
0.1
2009
2012
Investment in financial assets
1-6/2012 1-6/2013
Proceeds
1-6/2013: € 3.4 million
2012: € 14.0 million
2011: € 8.0 million
2010: € 4.7 million
2009: € 27.3 million
2008: € 27.3 million
Company presentation  September 2013
www.stada.com
Page 32
Sustainable profitable growth
Outlook for 2013:


Further growth of sales
Chance for further growth in adjusted EBITDA in the high single-digit percentage
area
Long-term guidance for 2014 affirmed2):
1)
2)

Group sales: at least approx. € 2.15 billion

EBITDA: at least approx. € 430 million

Net income: at least approx. € 215 million
Adjusted for one-time special effects.
See the Company's ad hoc releases of June 7, 2010, March 1, 2012 and February 28, 2013.
Company presentation  September 2013
www.stada.com
Page 33
"STADA - build the future" (2010 – 2013)
Measures
 Staff reduction
– Reduction of 1,130 positions, plan: 800
 Streamlining of production
– Sale of four factories (NL, IRL, 2x RU)
 Product Development
– Expansion of in-house development in Serbia, contract
development in India
 Quality Management
– New laboratory in Romania
 Supply chain
– Centralization using hub structure
 Procurement
– New offices in Mumbai and Shanghai
 Restructuring costs
– Largely completed with approx. € 50 million
 Savings
– Full savings potential with conclusion of product
transfer in 2014
 Operative implementation largely completed
Company presentation  September 2013
www.stada.com
Page 34
Concentration of the production processes
Own production locations
Share of
production
volume 2009
Share of
production
volume 2012
34%
25%
56%
60%
10%
15%
14
10
Market region Germany
Bad Vilbel (Germany)
Pfaffenhofen (Germany)
Market region CIS/Eastern Europe
Vrsac (Serbia)
Sabac (Serbia)
Dubovac (Serbia)
Banja Luka (Bosnia-Herzegovina)
Podgorica (Montenegro)
Nizhny Novgorod (Russia)
Obninsk (Russia)
Market region Asia/Pacific
Greater Ho-Chi-Minh-City
(Vietnam; 50% JV)
Number of production sites
Locations or parts of the locations are EU-GMP certified.
Company presentation  September 2013
www.stada.com
Page 35
Currency effects
Translation effects when transferring sales from local operating units into the Group
accounting currency euro
in % points
Q1/2012
Q2/2012
Q3/2012
Q4/2012
2012
Q1/2013
Q2/2013
+0.3
-0.1
+0.6
+0.1
+0.2
-0.7
-1.0
Currency effects
P&L effects due to foreign currency items for monetary assets & liabilities
In € million
Q1/2012 Q2/2012 Q3/2012 Q4/2012
Net currency influence
+2.9
(from other income and other
expenses)
+1.2
-0.3
-2.3
2012 Q1/2013 Q2/2013
+1.5
-1.0
-6.4
Equity effects attributable to shareholders of STADA Arzneimittel AG due to currency
differences directly recognized there
In € million
Q1/2012 Q2/2012 Q3/2012 Q4/2012
Equity netting
Company presentation  September 2013
-5.2
-24.4
+10.3
www.stada.com
+7.0
2012 Q1/2013 Q2/2013
-12.3
+3.1
-34.4
Page 36
CIS Growth dynamic

Driven by the retail market and increasing income
 Strong sales development of the existing portfolio
 New product launches
 Grünenthal branded product portfolio accelerates growth
 Strong dynamic of the acquired brands such as Tranexam®, Vuka-Vuka®, Baktistatin®,
gynecology portfolio, Safocid®
 5.5% compensation for inflation of products on the Essential Drug list (EDL) in
Q2/2013
 Price and volume growth
Company presentation  September 2013
www.stada.com
Page 37
STADA – Top international branded products
Branded product
Number of
countries
OTC / RX
Country of origin
Indication
Kamistad
29
OTC
DE
Inflammatory disorders (mouth)
Grippostad
26
OTC
DE
Cough and cold
Apo-Go
23
RX
UK
Parkinson
Hirudoid
23
OTC
DE
Inflammation of the veins
Tramal
19
RX
PL
Pain
Ladival
17
OTC
DE
Sun Protection
Mobilat
17
OTC
DE
Muscular and joint pain
Chondroxide
15
OTC
RU
Muscular and joint pain
Hexicon
14
RX
RU
Mycosis
Vitaprost
14
RX
RU
Prostate hyperplasia
Lavomax
13
RX
RU
Prostate hyperplasia
Levomecol
13
RX
RU
Bacterial Infection
Snup
13
OTC
DE
Rhinitis
Magnetrans
12
OTC
DE
Dietary supplement
Multilind (Mikrosilver)
9
OTC
DE
Mycosis
Cetraben
1
OTC
UK
Eczema (dry skin)
Company presentation  September 2013
www.stada.com
Page 38
Dividend
Dividend per STADA common share in €
 Dividend payout:
2012: € 29.6 million (2011: € 21.8 million)
+35%
0.37
0.50
 Pay-out ratio:
2012: 34%
 Dividend policy:
2011
2012
Appropriate share of reported net income
to shareholders
Pay-out ratio
99%
34%
2011
2012
Company presentation  September 2013
www.stada.com
Page 39
Share capital and shareholder structure
June 30, 2013
STADA shares1)2)
59.510.940
Potential number of shares from warrants 2000/20153)
Amount of treasury shares
2.879.280
93.180
 Current shareholder structure on Dec. 31, 2012:
 100% free float
 Approx. 58% institutional investors
 Current notices with regard to the exceeding of the legal reporting threshold of > 3% of
shareholdings are published on STADA website (www.stada.com)
 Approx. 12% pharmacists and doctors
1)
Owners of registered common shares with restricted transferability must be recorded in the shareholders’ register in order to be able to exercise their shareholders’ rights. Recording
in the shareholders’ register is only possible with the approval of the Executive Board.
2) Additional authorized capital of 29.4 million common shares.
3) Exercise price for subscription of 20 common shares: € 329.00.
Company presentation  September 2013
www.stada.com
Page 40
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