APONTIS PHARMA reports profitable revenue growth for Single Pill combinations in 9M 2024 – revenue guidance adjusted

• Revenue growth for Single Pill combinations in 9M 2024 to EUR 26.2 million (9M 2023: EUR 17.9 million)
• Novartis collaboration (asthma products) contributes EUR 5.6 million to revenues
• EBITDA rises to EUR 2.7 million (9M 2023: EUR -7.0 million) on the back of higher revenues and a reduced cost base
• Net result profitable at EUR 0.8 million (9M 2023: net loss of EUR 6.2 million)
• Full-year revenue forecast for 2024 lowered slightly to EUR 48.7 million (previously: EUR 50.7 million), mainly due to delays in the effectiveness of the revised marketing concept – EBITDA forecast unchanged at EUR 3.3 million

Monheim am Rhein, November 7, 2024 – APONTIS PHARMA AG (Ticker APPH / ISIN DE000A3CMGM5), a leading pharmaceutical company specializing in Single Pill combinations in the German market, continued its profitable revenue growth with Single Pill combinations in the third quarter of 2024. The revised marketing concept is having an effect, albeit not yet at the planned rate. APONTIS PHARMA thus remains on a profitable growth path.

The 47% growth in the core business with Single Pill combinations to EUR 26.2 million (9M 2023: EUR 17.9 million) resulted from the improved supply capacity for Atorimib (+EUR 6.9 million) and the development of the remaining Single Pill portfolio (+EUR 1.4 million). Contrary to the original planning, sales with Tonotec only fell by EUR 1.5 million. Due to the tender situation, the company had expected a decline of EUR 2.6 million for Tonotec. Revenue in the cooperation business rose to EUR 8.5 million (9M 2023: EUR 7.8 million). The cooperation with Novartis for the products Atectura and Enerzair, which began in April 2024, already contributed EUR 5.6 million to revenue. Overall, APONTIS PHARMA generated total revenue of EUR 35.9 million, an increase of 32.4% over the same period of the previous year (9M 2023: EUR 27.1 million).

Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by EUR 9.7 million to EUR 2.7 million (9M 2023: EUR -7.0 million). This development was driven in particular by the significantly reduced cost base as a result of the successfully completed restructuring, but also by higher revenues from Single Pill combinations. Cash outflow from operating activities decreased to EUR -5.0 million (H1 2023: EUR -13.4 million) and was particularly characterized by the outflow of funds in the amount of EUR 5.6 million from the restructuring provision formed in the previous year. With an equity ratio of 68.4% and a net liquidity of EUR 14.3 million (December 31, 2023: EUR 20.8 million), APONTIS PHARMA continues to have a solid financial position.

Full-year revenue forecast for 2024 slightly lowered – EBITDA forecast unchanged

Taking into account delays in the effectiveness of the revised marketing concept, the Executive Board of APONTIS PHARMA AG has decided to slightly reduce the total revenue forecast for the 2024 financial year to EUR 48.7 million (previously: EUR 50.7 million). Revenues of EUR 34.0 million (previously: EUR 36.0 million) are expected for the Single Pill combination business. EBITDA for the full year 2024 is still expected to be EUR 3.3 million.

Bruno Wohlschlegel, CEO of APONTIS PHARMA: “The first nine months of 2024 have been successful for APONTIS PHARMA. We have realigned, streamlined and strengthened the organization – we have returned to a growth path. We were able to achieve a significantly positive result again. In addition to the noticeably reduced cost base, the revenue growth of the Single Pill combinations was decisive. Here, we were able to achieve growth not only with our successful product Atorimib, but also with other Single Pill combinations. The cooperation with Novartis for the two asthma drugs Atectura and Enerzair has also got off to a promising start. At the same time, we see that our revised marketing strategy is gradually taking effect, even though there has been a slight delay in the effectiveness of the revised marketing concept. Consequently, we have slightly lowered our revenue expectations for the full year 2024. However, we are confident that our measures will increasingly materialize.”

Voluntary public purchase offer by Zentiva

After a careful and thorough review of the offer document published by the bidder on October 24, 2024, the APONTIS PHARMA Executive and Supervisory Boards recommend that APONTIS PHARMA shareholders accept the offer. The Executive Board and Supervisory Board of APONTIS PHARMA consider the offer price of EUR 10.00 per APONTIS PHARMA share to be fair, reasonable and attractive from a financial point of view and see an attractive premium of around 52.9% compared to the closing price on October 15, 2024, and a premium of 38.3% compared to the average Xetra closing price over the past three months.

The members of the Executive Board and Supervisory Board of APONTIS PHARMA intend to tender all of their APONTIS PHARMA shares. Zentiva has already secured a stake of approximately 37.5% of the APONTIS PHARMA shares through a purchase agreement with the main shareholder of the Company.

The joint reasoned statement of the Executive Board and Supervisory Board of APONTIS PHARMA AG is published in German on the Company's website in the Investor Relations section under “voluntary public purchase offer” and is also provided in a non-binding English translation. The exact terms of the offer can be viewed at www.zentiva-offer.com.

Group figures (unaudited)

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

Webcast/Conference Call:

CEO Bruno Wohlschlegel, CPO Thomas Milz and CFO Thomas Zimmermann will explain the results for the first nine months of 2024 in a webcast presentation today, November 7, 2024, 11:30 CET. The presentation will be held in English.

Please register for participation in advance at:

APONTIS PHARMA Interim Statement 9M 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 recommendations at https://apontis-pharma.de/en/share-price.

Condensed Group Income Statement (unaudited)

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

Condensed Consolidated Statement of Financial Position (unaudited)

Note: The figures as of September 30, 2024, are unaudited. Rounding differences may occur.

Condensed Group Statement of Cash Flows (unaudited)

Note: The figures for the nine-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.

APONTIS PHARMA AG

Investor Relations
ir@apontis-pharma.de
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F: +49 2173 89 55 1521
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40789 Monheim / Rhein
Germany
apontis-pharma.de

APONTIS PHARMA Press Contact

CROSS ALLIANCE communication GmbH
Sven Pauly
ir@apontis-pharma.de
T: +49 89 125 09 0330