Investor Presentaiton
III Sustainability of Growth and Margin Profile
Sustainability of Revenue Growth
A
Market Volume Drives
B
Company Specific Volume Drivers
Population Growth CAGR (19E-23E):
2.0
%
0.9
%
Egyptian population is
projected to grow at higher
CAGR than the Global average
Continuously enhancing market share in both
retail and non-retail market segment
Average Selling Price Drivers
Constant improvement in average selling
prices
Supply side mechanism for price
adjustment through migrating to higher
price points
Recovering Consumer Expenditure
GDP per capita in Egypt
3.0
(USD 000's):
Pick up in macro-
economic standard
2014
12.6%
Consumer Expenditure CAGR
(19E-24E):
+1.5%
ISP Market Share
+x% ISP Market Share
Gains
II
Prices remain extremely low with further
adjustments expected to take place
Among the highest
2015
consumer emerging
14.1%
2.0
2.6
3.1
10.6 markets expected to grow
%
+2.3%
7.3%
Average Selling Price (ASP) Evolution
4.2% 4.0%
2016
16.4%
+1.6%
2016 2017 2018 2019
2017
18.0%
Unjustifiably low pharmaceutical sales per capital
322 235
+2.0%
110 99 95 66
51 28 15
2018
20.0%
Egyptian Pharmaceutical Market Size (Volume in mn)
CAGR: 3.9%
2019
21.3%
+10%
3,490
2,891
3,035
3,172
2,849
3,210
2014
2015
2016
2017
2018
2019
+5.5%
16.5
+17.0%
19.3
+34.7%
26.0
4.5
+10.0% +10.9%
28.6
31.7
1.3
15.3
21.5
18
+1.3%
Average increase of 1.5% per year in market
share during the last 5 years
2014
2015
2016
2017
2018
2019
Normalized ASP
Price waves Effect
Ibnsina Pharma Revenue (EGP mn)
3,357
4,302
5,439
CAGR: 31%
7,372
Constant double digit growth for the upcoming 5 years is
achievable in light of the current market and company dynamics
9,818
13,678
16,941
2013
2014
2015
2016
2017
2018
2019 E
2020E
2021 E
2022 E
2023 E
ibnsinapharma
Source: EIU, Company Management
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