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APONTIS PHARMA starts financial year 2024 with growth in revenue of Single Pill combinations and positive net result – forecast for full-year 2024 confirmed

EQS-News: APONTIS PHARMA AG / Key word(s): Quarterly / Interim Statement/Quarter Results APONTIS PHARMA starts financial year 2024 with growth in revenue of Single Pill combinations and positive net result – forecast for full-year 2024 confirmed 08.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. APONTIS PHARMA starts financial year 2024 with growth in revenue of Single Pill combinations and positive net result – forecast for full-year 2024 confirmed

• Growth in revenue of Single Pill combinations to EUR 8.8 million in Q1 2024 (3M 2023: EUR 6.6 million), also due to a competitor’s temporary inability to supply products
• Cooperation business still declining as expected at EUR 0.9 million (3M 2023: EUR 2.7 million)
• EBITDA improved to EUR 1.0 million due to a reduced cost base and higher revenue of Single Pill combinations (3M 2023: EUR -1.5 million)
• Net result profitable again at EUR 0.4 million (3M 2023: EUR -1.5 million)
• Increased forecast for financial year 2024 confirmed as a result of the distribution and marketing agreement with Novartis

Monheim / Rhein, 8 May 2024. APONTIS PHARMA AG (Ticker APPH / ISIN DE000A3CMGM5), a leading pharmaceutical company specializing in Single Pill combinations in the German market, has reported a profitable first quarter of 2024 due to a lower cost base and higher revenues of Single Pill combinations.

The 35% growth in the core business with Single Pill combinations to EUR 8.8 million (3M 2023: EUR 6.6 million) resulted from the improved delivery capacity for Atorimib (+EUR 1.4 million) compared to the previous year and the overall positive development of the remaining Single Pill portfolio (+EUR 1.0 million). Contrary to the original planning, sales of Tonotec only declined by EUR 0.1 million. Due to the tender situation, the Company had expected a decline of EUR 0.9 million for Tonotec. The more moderate decline for Tonotec was due to the fact that the winner of the tender was temporarily unable to supply products. As expected, the cooperation business continued to decline in the first quarter of 2024 with sales revenues of EUR 0.9 million (3M 2023: EUR 2.7 million). Overall, APONTIS PHARMA generated total sales of EUR 10.0 million, which was at the same level as in the previous year (3M 2023: EUR 10.0 million).

Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR 1.0 million, which is mainly due to the lower cost base as a result of the restructuring that was successfully completed. In the same period of the previous year, a loss of EUR -1.5 million was reported. The cash outflow in cash flow from operating activities improved to EUR -2.8 million (3M 2023: cash outflow of EUR -5.3 million) and was characterized in particular by the outflow of funds in the amount of EUR 1.6 million from the restructuring provision formed in the previous year. With an equity ratio of 57.9% and net liquidity of EUR 17.5 million (December 31, 2023: EUR 20.8 million), APONTIS PHARMA continues to have a solid asset and financial position to finance the further growth planned and the expansion of the product portfolio.

Bruno Wohlschlegel, CEO of APONTIS PHARMA: “In the first quarter of 2024, APONTIS PHARMA was already able to reap initial benefits from the performance and efficiency enhancement program implemented. We achieved significantly higher profitability as a result of a much lower cost base. In addition, we launched our new go-to-market approach ahead of schedule and can see that the organization is managing the focus on growth drivers very well. In this context, we were particularly pleased to receive the vote of confidence from Novartis, who we convinced with our new multi-channel-based go-to-market model to exclusively transfer the distribution and commercialization of two asthma medications to APONTIS PHARMA.”

Group figures (unaudited)

in EUR million	3M 2024	3M 2023	∆
Single Pill revenue	8.8	6.6	34.7%
Total sales	10.0	10.0	1.0%
EBITDA	1.0	-1.5	n/a
EBITDA margin (in %)	9.8%	-15.1%	n/a
EBIT	0.5	-2.0	n/a
EBIT margin (in %)	4.5%	-19.9%	n/a
Net result	0.4	-1.5	n/a
	31 Mar. 2024	31 Dec. 2023
Equity ratio (in %)	57.9%	52.7%	520 bps.
Net liquidity	17.5	20.8	-15.9%

Note: The figures for the three-month period are unaudited. Rounding differences may occur.

New sales model promises to increase revenue of Single Pill combinations

Following the launch of the new sales model on 1 March 2024, APONTIS PHARMA intends to return to growth in its core business with Single Pill combinations. The non-recurring effect caused by a competitor’s temporary inability to supply the product Tonotec was limited to the first quarter of 2024. In contrast, the measures of the new sales model should gradually take effect and lead to further increases in Single Pill revenues. Following the launch of the 15th Single Pill combination on the German market in March 2024, three new products for the treatment of cardiovascular diseases are expected to expand the product portfolio to 18 Single Pill combinations over the course of the year.

Raised forecast for financial year 2024 confirmed as a result of the distribution and marketing agreement with Novartis

After the end of the reporting period, APONTIS PHARMA reached an agreement with the Swiss pharmaceutical Group Novartis at the beginning of April on an exclusive cooperation on distribution and marketing support for two asthma preparations. The Company therefore raised its forecast for financial year 2024. APONTIS PHARMA continues to expect an increase in sales to EUR 50.7 million and positive EBITDA of EUR 3.3 million for financial year 2024. The Management Board confirms this outlook on the basis of the first quarter results, which were also characterized by special items.

Bruno Wohlschlegel adds: “While the impact of our competitor’s temporary inability to deliver on sales was limited to the first quarter, we expect our new sales measures to take effect as the year progresses. We are convinced that we will achieve the forecast targets through the measures already implemented in our performance and efficiency enhancement program and the new go-to-market approach alone. At the same time, the increasing sales potential of our growing Single Pill portfolio shows us how important a scalable business model will be in the future.”

Webcast/Conference Call:

CEO Bruno Wohlschlegel, CPO Thomas Milz, and CFO Thomas Zimmermann will explain the results for the first quarter of 2024 in a webcast presentation today, 8 May 2024, 11:00 CEST. The presentation will be held in English.

Please register in advance to participate at:

APONTIS PHARMA Interim Statement 3M 2024 - Webcast/Conference Call.

The accompanying presentation will also be available on the Company’s website before it begins.

Additional information:

Information on upcoming events can be found at https://apontis-pharma.de/en/financial-calendar and the latest analyst assessments at https://apontis-pharma.de/en/share-price.

Condensed Group Statement of Income (unaudited)

in EUR million	3M 2024	3M 2023	∆
Sales	10.0	10.0	0.0
Other operating income	0.3	0.3	0.0
Cost of materials	-3.1	-3.5	0.4
Gross profit	7.2	6.8	0.4
Personnel expenses	-3.7	-4.9	1.2
Depreciation and amortization	-0.5	-0.5	0.0
Other operating expenses	-2.5	-3.4	0.9
Operating result	0.5	-2.0	2.5
Financial result	-0.1	0.1	-0.2
Result before taxes	0.4	-1.9	2.3
Taxes on income and earnings	0.0	0.4	-0.4
Result after taxes	0.4	-1.5	1.9
Other taxes	0.0	0.0	0.0
Net result	0.4	-1.5	1.9

Note: The figures for the three-month period are unaudited. Rounding differences may occur.

Condensed Group Statement of Financial Position (unaudited)

in EUR million	31 Mar. 2024	31 Dec. 2023	∆
Assets
Fixed assets	18.3	18.4	-0.1
Inventories	5.4	6.6	-1.2
Receivables	1.6	1.7	-0.1
Cash on hand and bank balances	23.6	26.8	-3.2
Prepaid expenses and deferred charges	0.6	0.5	0.1
Deferred tax assets	3.5	3.5	0.0
Liabilities
Equity	30.7	30.2	0.5
Difference from capital consolidation	0.5	0.6	-0.1
Provisions	12.2	15.3	-3.1
Bank liabilities	6.1	6.0	0.1
Liabilities	3.5	5.4	-1.9
Balance sheet total	53.0	57.5	-4.5

Note: The figures as of March 31, 2024, are unaudited. Rounding differences may occur.

Condensed Group Statement of Cash Flows (unaudited)

in EUR million	3M 2024	3M 2023	∆
Cash flow from operating activities	-2.8	-5.3	2.5
Cash flow from investing activities	-0.4	-0.6	0.2
Cash flow from financing activities	0.0	0.0	0.0
Net cash flow	-3.2	-5.9	2.7

Note: The figures for the three-month period are unaudited. Rounding differences may occur.

About APONTIS PHARMA:

APONTIS PHARMA AG is a leading pharmaceutical company specializing in Single Pill combinations in Germany. Single Pills combine two to three generic active ingredients in a single dosage form administered once a day. Single Pill therapies have been scientifically proven to significantly increase adherence and thus improve the treatment prognosis and quality of life of patients while reducing complications, mortality, and treatment costs. Consequently, Single Pill combinations are the preferred treatment option in numerous international treatment guidelines, including in the EU and Germany. APONTIS PHARMA has been developing, promoting, and distributing a broad portfolio of Single Pill combinations and other pharmaceutical products since 2013, with a special focus on cardiovascular diseases such as hypertension, hyperlipidemia, and secondary prevention. For additional information about APONTIS PHARMA, please visit www.apontis-pharma.de.

PONTIS PHARMA AG

Investor Relations
[e-mail]
T: [phone]
F: [phone]
Alfred-Nobel-Str. 10
40789 Monheim am Rhein
Germany
apontis-pharma.de

APONTIS PHARMA Press Contact

CROSS ALLIANCE communication GmbH
Sven Pauly
[e-mail]
T: [phone]

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08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	APONTIS PHARMA AG
	Alfred-Nobel-Str. 10
	40789 Monheim
	Germany
E-mail:	[e-mail]
Internet:	https://apontis-pharma.de/
ISIN:	DE000A3CMGM5
WKN:	A3CMGM
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1896781

End of News	EQS News Service

1896781  08.05.2024 CET/CEST