Aspen Pharmacare : Earnings Document

Annual Results Presentation

For the year ended 30 June 2022

DISCLAIMER

CAUTIONARY REGARDING FORWARD-LOOKING STATEMENTS

We may make statements that are not historical facts and relate to analyses and other information based on forecasts of future results and estimates of amounts not yet determinable. These are forward looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "prospects", "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "indicate", "could", "may", "endeavour" and "project" and similar expressions are intended to identify such forward looking statements but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, actual results may be very different from those anticipated. The factors that could cause our actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements are discussed in each year's annual report. ​​

Forward looking statements apply only as of the date on which they are made, and we do not undertake other than in terms of the Listings Requirements of the JSE Limited, any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. Any profit forecasts published in this report are unaudited and have not been reviewed or reported on by Aspen's external auditors. ​

2

DISCLOSURE NOTE

​RESTATEMENT OF THE GROUP SEGMENTAL ANALYSIS

• The Group has revised its reportable segments to reflect the newly updated operating model which aligns to the way in which the business is managed and reported on by the Chief Operating Decision Maker ("CODM").
• The business segments which make up the Pharmaceutical segment have been revised as follows:​
  » Commercial responsibility for Israel has been moved to Africa Middle East from Europe CIS and consequently the prior year numbers
  • (June 2021: R122m) have been restated to reflect this segmental change.

COVID-19

• There has been no material negative impact of COVID-19 on the Group's financial performance and no asset impairments have arisen as a consequence of COVID-19 ("COVID").

3

Financial Review

SOLID OPERATIONAL PERFORMANCE LEADING TO INCREASED ROIC

FINANCIAL HIGHLIGHTS

SALES

EBITDA

EARNINGS

5% CERⱡ
+2%
37 766	38 606
FY 2021	FY 2022
Revenue
(R'million)

+13% CERⱡ
+11%
9 945	11 012
FY 2021	FY 2022
Normalised EBITDA
(R'million)

+2.2*
26.3%	28.5%
FY 2021	FY 2022

Normalised EBITDA

Margin %

+26% CERⱡ
+24%
	1 628
1 310
FY 2021	FY 2022

Normalised

Headline Earnings

per share (cents)

• CER removes the currency effect on performance. FY 2021 has been restated at FY 2022 average exchange rates.

* Percentage points	5