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Financial Analysis - PPT Presentation

Pierre Mouy March 2010 Company Overview Biota Holdings is a Pharmaceutical company engaged in antiinfective drug RampD and its commercialization to treat respiratory diseases particulary ID: 464603

biota 2009 holdings ratio 2009 biota ratio holdings operating financial year amp company limited equity 2005 current ratios report

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Slide1

Financial Analysis

Pierre

Mouy

March 2010Slide2

Company Overview

Biota Holdings

is a Pharmaceutical company engaged in anti-infective drug R&D, and its commercialization to treat respiratory diseases,

particulary

Influenza.

Biota’s blockbuster product ,

Relenza

, 1st in class NAI is marketed by GSK.R&D activities focus on the development of drug candidates for the treatment of : HCV infectionsRSV infectionsHRV infectionsThe company has several partnerships with Pharmaceuticals such as:Slide3

Company snapshot

In 2010 Biota Holdings Ltd operates with 3 subsidiaries

Biota Holdings Limited

Biota Scientific Management Pty Ltd

Biota Investments

Pty Ltd

Biota Respiratory Research Pty Ltd

Prolysis

Limited

UK ( 2009 )

NuMAX

Pharmaceuticals

Inc

USA (2001)

Maxthera

Inc

USA ( 2009 )Slide4

Company snapshot

Biota’s Headquarters in Melbourne, Australia34 Employees estimated

Mr

Peter Cook

CEO

Managing director

Since 2005

Dr James Fox

Chairman since 2009

Dr Simon Tucker

Vice President

Research

Since 1997

Dr Leigh Farrell

Vice

President

Business D

Since

2006

Dr Jane Ryan

Vice

President

Product D

Since 1997

Dr John Lambert

Executive directorSince 2002Slide5

Company snapshot

Biota

Holdings

floated

on the

Australian

Stock Exchange ( ASX )

2006 Biota admitted to the S&P/ASX 300 indexBiota datas:174 m shares for a AUD $324 m Market Cap

20 Largest shareholders for 42% equitySlide6

Financial performance

The Company reported:Financial year end JuneRevenues of $60.56m during the fiscal year ended June

2009

,

increase of 54.11% over 2008

Net Profit

of

$38.18m in 2009, whereas Biota reported a net loss of 6.49m during 2008Slide7

Financial report

Biota Holdings LimitedIncome Statements

For the year ended 30 June 2009

Others incomes : $22.776

m

( suit GSK )

Total Revenues : $83.334

mSlide8

Financial report

Biota Holdings Limited

Expenses Statements

For the year ended 30 June 2009Slide9

Financial report

Biota Holdings Limited

Income/Expenses Statements

For the year ended 30 June 2009

R&DSlide10

Financial report

Biota Holdings Limited

For the year ended 30 June 2009

Total Revenues : $83.334

m

Total Expenses : $ 41.517

m

R&D : 42% Revenues Litigation : 12% RevenuesSalaries : 7.10% RevenuesSub-royalty : 7%

RevenuesFinance cost : 0.2% Revenues

R&DSlide11

Biota Holdings Limited

Balance sheetsStrong cash position~ $86.7million~ 1.43 x Incomes

~ 1

year

½

availableTotal equity~ $97 millionFinancial report

For the year ended 30 June 2009Slide12

Financial report

Biota Holdings Limited

Balance sheets

Total Assets

~

$111,629 million

Total

LiabilitiesTotal equity ~ $ 97,032+ Liabilities ~ $ 12,454= ~ $111,629 million Assets = LiabilitiesSlide13

Financial position Analysis

Biota Holdings Limited

vs

Pharmaceuticals & Healthcare sector

(Oz)

during the period 2005-2009

100.61 % Annual growth rate

, 11.8% above the average sector3 kinds of ratios for the fiscal year year 2009:Profitability ratios:69.05 % operating margin OM , 18.5 % above the average sector39.4 % return on equity ROE , 16.1 % above the average sectorOperating costs ratios:31 % operating costs (% sales) OP over 5 years

Liquidity ratios:7,6 % current ratio CR over 5 yearsSlide14

Profitability ratios

To assess the Biota’s ability to generate earnings based on Revenues

69.05 % operating margin

, 18.5 % above the average sector

OP used to

mesure

the Biota’s

Pricing strategy &Operating efficiency

OM =

(Operating Income/ revenues) * 100Slide15

Profitability ratios

To assess the Biota’s ability to generate earnings based on Ressources used

39.4 % return on equity

, 16.1 % above the average sector

OP used to

mesure

the rate

Of Return on theShareholder’s equity

ROE = (Net Income/Shareholders Equity) * 100Slide16

Operating cost ratio

Operating costs

:

To understand the costs the company is incurring as % of sales

31 %

operating costs (% sales) OP in 2009

Operating cost =

(operating expenses/Revenues) * 100

2005

2006

2007

2008

2009

Op costs

(% sales)

502,86

181,50

68,08

123,69

30,95Slide17

Liquidity ratios

Current ratio ( absolute ratio )Current ratio 2009 = 7,61Used to determine the Biota ability to pay off its short-terms debts obligations

( the

highter

the value ratio is, the larger the margin of safety biota would

possese

to cover short term debts)

( if ratio = 1 near Bankruptcy !! )Current ratio= (Current assets/Current liabilities)

2005

2006

2007

2008

2009

Current

ratio

6,29

4,93

5,27

3,33

7,61Slide18

Stocks Analysis

S&P/ASX 300 , in the Intersuisse Biotechnologies IndexMarket capitalisation ~ $324mShareholders

~ 13,300

Total

shares

~ 174mSlide19

Stocks Analysis

2.24

Bird Flu

Rumour

11

Aug 2005

Inside Traders wave

+ 30,6%

Mediatization

+ 312,65%

10/10/2005

Nov 2005

French order

9m courses

April 2006

US defense order

5,5m courses

Jul 2006

US order

16m courses

First Profitability

announced

Swine Flu

Rumour

24 April 2009

Inside Traders wave

+ 31,34%

Mediatization

+ 296,32%

27/04/2009

Open gap

24/10/2009

Mars 2009

Nasdaq

biotechSlide20

PER

Capital market ratio:Mesure of the price paid for a share relative to the annual

income

earned

per

share

.PER (Price earning ratio) = 9,66 ; vs 11,4 Aussie sector averageCapital management : $20m return to shareholders in Dec 2009 ! 1st time since 1985~0,12 cents per share

dividend~ significant

Stocks AnalysisSlide21

SWOT Analysis

Strengths

Weaknesses

Strong

In-house

Research

capabilities

Flagship

Product:

Relenza

Strong

Financial Position

Business Concentration:

Aussie

Limited

Investor

Confidence

Opportunities

Threats

Significant

Collaborations

Market

Potential

: HCVEmerging

Markets

Competitive

Pressures

Government

Regulations

Uncertain

R&D

OutcomesSlide22

THE END

References:

- Annual report 2009

- Global market directs

- Business week

-

Intersuisse

- Euronext

- Google fiinance

- biota website