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Hikma Pharmaceuticals Delivers a Strong Performance in 2012 With Group Revenue Growth Up 21% and EPS Up 24%


3/13/2013 9:42:41 AM

London, 13 March 2013 – Hikma Pharmaceuticals PLC (“Hikma”) (LSE: HIK) (NASDAQ Dubai: HIK), the fast growing multinational pharmaceutical group, today reports its preliminary results for the year ended 31 December 2012

-- Branded revenue growth of 19.7% reflects strong demand across our MENA markets, with organic 4 growth of 11.3%

-- Branded adjusted operating profit increased by 17.6%, with an adjusted operating margin of 23.4%

-- In constant currency, Branded revenue grew by 23.1% and adjusted operating margin was 24.7%

-- Excellent performance in global Injectables delivered 48.9% revenue growth, with organic 5 revenue growth of 22.3% and adjusted operating margin of 26.2%

-- Remediation work at our Eatontown facility during 2012 reduced Generics revenue by 33.0% to $103.7 million and resulted in an operating loss of $20.9 million

-- Increase in Group adjusted operating margin to 17.5%, from 15.9% in 2011, reflecting a significant improvement in Injectables margin

-- Profit attributable to shareholders up 25.2% to $100.3 million. On an adjusted basis, profit attributable to shareholders up 19.4% to $120.5 million

-- Net cash flow from operating activities up $55.8 million, to $182.2 million

-- Continued new product introductions across all countries and markets – launched 14 products and received 81 product approvals – and enhancement of the portfolio through product acquisitions

-- Completed acquisition of the Egyptian Company for Pharmaceuticals and Chemical Industries in January 2013 for a cash consideration of $20.5 million

-- Increase in the full year dividend to 16.0 cents per share, up from 13.0 cents in 2011

Said Darwazah, Chief Executive Officer of Hikma, said:

“I am pleased with the very strong performance of the Group this year.

In the MENA region, our businesses are thriving as a result of the investment we have been making to strengthen our manufacturing and sales operations and our ongoing commitment to building our businesses in these markets.

Our global Injectables business achieved excellent growth in revenue and profitability, with very strong performances across our geographies. We are benefiting from the strength of our sales and manufacturing platform in the US, strong demand for our products across our markets and our continued track record for quality and operational excellence. We are encouraged by the prospects for the global injectables market and believe the Injectables business is well positioned for strong growth over the medium and long term.

The performance of our Generics business has been impacted by the remediation work we are doing at our Eatontown facility. Following completion of a strategic review, bringing this facility back into regulatory compliance remains the priority, as does returning it to profitability. At the same time, we are evaluating the alternative options for this business.

Our focus in 2013 continues to be on building our business in MENA and on strengthening our global Injectables business. We are well positioned for 2013 and we look forward to another strong year.”

Enquiries

Hikma Pharmaceuticals PLC

Susan Ringdal, VP Corporate Strategy and Investor Relations 477050

+44 (0)20 7399 2760/ +44 7776

Lucinda Henderson, Investor Relations Manager 060211

+44 (0)20 7399 2765/ +44 7818

FTI Consulting

Ben Atwell/ Julia Phillips/ Matthew Cole +44 (0)20 7831 3113

About Hikma

Hikma Pharmaceuticals PLC is a fast growing pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in- licensed products. Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based primarily in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. In 2012, Hikma achieved revenues of $1,108.7 million and profit attributable to shareholders of $100.3 million.

A presentation for analysts and investors will be held today at 09:30 at FTI Consulting, Holborn Gate, 26 Southampton Buildings, London, WC2A 1PB. To join via conference call please dial: +44 (0) 203 139 4830 or 0808 237 0030 (UK toll free) and use participant PIN code: 87887107. Alternatively you can listen live via our website at www.hikma.com. A recording of both the meeting and the call will be available on the Hikma website. Video interviews of Said Darwazah, CEO and Khalid Nabilsi, CFO are available at www.hikma.com. The contents of the website do not form part of this preliminary results announcement.


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