Company FundamentalsCompany Fundamentals\Company Profile

A Wright Investors' Service Research

Report:

MGC Pharmaceuticals Ltd 177 West Putnam Avenue

Greenwich, Connecticut 06830-5203
U.S.A.

COMPANY PROFILE
Figures in Australian Dollars

Wright Quality Rating:LCNN Key Data

MGC Pharmaceuticals Limited, formerly Erin Resources Limited, is a medical and Ticker:
cosmetics cannabis company. The Company is engaged in the creating cannabidiol MXC
(CBD) and medical cannabis business that focuses on the CBD market in Europe. CBD
is used for the treatment of a range of skin and health conditions, including acne, 2017 Sales:
psoriasis, eczema and dry skin. The Company's business model involves in growing
247,500
cannabis sativa plants from high CBD yielding seeds and extracting CBD resin from
the plants grown. It sells the CBD resins as a wholesale product to cosmetic and
therapeutic product manufacturers. The CBD is also used to produce the Company's Major Industry:
line of cosmetic products in Slovenia under the Ananda Cosmetics Joint Venture. It Miscellaneous
grows, harvests, dries out, extracts and sells cannabis sativa crop to enterprise
customers in bulk, individual consumers in delivery devices or other products. The Sub Industry:
Company subsidiaries include MGC Pharma (UK) Ltd and MGC Pharmaceuticals d.o.o. Medical Services
Stock Chart Officers
Chairman Country:
Brett Anthony Mitchell Australia

Executive Director & Chief Currency:

Executive
Australian Dollars
Roby Reuven Zomer

Fiscal Year Ends:

June

Employees
N/A

Exchanges:

Share Type:
Ordinary

Market Capitalization:
47,154,174
Stock Price (9/15/2017): 0.04
Recent stock performance Total Shares
1 Week 0.0% Outstanding:
4 Weeks -6.5% 1,096,608,703
13 Weeks -10.4%
52 Weeks 2.4%
Closely Held Shares:
Earnings / Dividends (as of 6/30/2017) 278,513,968
Earnings Dividends
Most Recent Qtr -0.01 0.00
Last 12 Months -0.01 0.00
Ratio Analysis
 Price / Earnings Ratio N/A Dividend Yield 0.00%
Price / Sales Ratio 190.52 Payout Ratio N/A
Price / Book Ratio 2.91 % Held by Insiders 25.40%

Address
L 7 1008 Hay St Phone
PERTH Western Australia 6000 +61 8 9389 2000
AUSTRALIA Home Page
http://mgcpharma.com.au
Company Fundamentals\Comparative Business Analysis

Comparative Business Analysis: MGC Pharmaceuticals Ltd

Report Date: September 23, 2017
Company Description

MGC Pharmaceuticals Limited, formerly Erin Resources Limited, is a medical and cosmetics cannabis company. The
Company is engaged in the creating cannabidiol (CBD) and medical cannabis business that focuses on the CBD
market in Europe. CBD is used for the treatment of a range of skin and health conditions, including acne,
psoriasis, eczema and dry skin. The Company's business model involves in growing cannabis sativa plants from
high CBD yielding seeds and extracting CBD resin from the plants grown. It sells the CBD resins as a wholesale
product to cosmetic and therapeutic product manufacturers. The CBD is also used to produce the Company's line
of cosmetic products in Slovenia under the Ananda Cosmetics Joint Venture. It grows, harvests, dries out,
extracts and sells cannabis sativa crop to enterprise customers in bulk, individual consumers in delivery devices
or other products. The Company subsidiaries include MGC Pharma (UK) Ltd and MGC Pharmaceuticals d.o.o.

Competitor Analysis

MGC Pharmaceuticals Ltd operates in the Pharmaceutical preparations sector. This analysis compares MGC
Pharmaceuticals Ltd with three other companies: Prana Biotechnology Limited (2017 sales of 132,396.00
Australian Dollars [US$105,747.33 ] ), Bod Australia Ltd (352,877.00 Australian Dollars [US$281,849.92 ] ), and
Prescient Therapeutics Ltd (166,220.00 Australian Dollars [US$132,763.24 ] ).

Sales Analysis

Sales increased substantially in 2017: MGC Pharmaceuticals Ltd reported sales of A$247,500.00 (US$197.68
thousand) for the fiscal year ending June of 2017. This represents an increase of 413.2% versus 2016, when the
company's sales were A$48,230.00 .

Sales Comparisons (Fiscal Year ending 2017)

Sales Sales Sales/
Company (000s) Growth Emp (US$) Largest Region
MGC Pharmaceuticals Ltd 247.500 413.2% N/A N/A
Prana Biotechnology Limited 132.396 -7.2% 7,050 N/A
Bod Australia Ltd 352.877 155.7% N/A N/A
Prescient Therapeutics Ltd 166.220 1,452.9% 132,763 N/A

Recent Stock Performance

In recent years, this stock has performed terribly. In fiscal year 2007, the stock traded as high as A$0.50,
versus A$0.04 on 9/15/2017. (In 2007, the stock retreated significantly from its high, and by the end of the year
was at A$0.23). During each of the previous 3 fiscal years, this stock has increased in value (at the end of June
of 2014, the stock was at A$0.01). For the 52 weeks ending 9/15/2017, the stock of this company was up 2.4%
to A$0.04. During the past 13 weeks, the stock has fallen 10.4%. During the 12 months ending 6/30/2017, the
company has experienced losses totalling A$0.01 per share. (All three comparable companies also experienced
losses during the most recent reported 12 month period). These 12 month earnings are lower than the earnings
per share achieved during the last fiscal year of the company, which ended in June of 2017, when the company
reported earnings of -0.01 per share. This company is currently trading at 190.52 times sales. The three
companies vary greatly in terms of price to sales ratio: trading from 11.74 times all the way up to 233.89 times
their annual sales. MGC Pharmaceuticals Ltd is trading at 2.91 times book value. The company's price to book
ratio is significantly higher than that of all three comparable companies, which are trading between 0.93 and 1.38
times book value.

Summary of company valuations

Price/ Price/ 52 Wk
Company Date P/E Book Sales Pr Chg
MGC Pharmaceuticals Ltd 9/15/2017 N/A 2.91 190.52 2.40%
 Prana Biotechnology Limited 9/15/2017 N/A 1.31 233.89 -47.27%
Bod Australia Ltd 9/15/2017 N/A 1.38 11.74 N/A
Prescient Therapeutics Ltd 9/14/2017 N/A 0.93 66.09 -46.94%
The market capitalization of this company is A$47.15 million (US$37.66 million) . The capitalization of the floating
stock (i.e., that which is not closely held) is A$35.18 million (US$28.10 million) .

Dividend Analysis

This company has paid no dividends during the last 12 months. The company also reported losses during the
previous 12 months. The company has not paid any dividends during the previous 5 fiscal years.

Profitability Analysis

On the A$247,500.00 in sales reported by the company in 2017, the cost of goods sold totalled A$6.78 million, or
2,738.9% of sales (i.e., the gross profit was -2,638.9% of sales). This gross profit margin is significantly better
than the company achieved in 2016, when cost of goods sold totalled 4,744.0% of sales. The company's
earnings before interest, taxes, depreciation and amorization (EBITDA) were -A$6.87 million, or -2,776.2% of
sales. This EBITDA margin is better than the company achieved in 2016, when the EBITDA margin was equal to -
4,974.2% of sales. In 2017, earnings before extraordinary items at MGC Pharmaceuticals Ltd were -A$8.14
million, or -3,290.7% of sales. This profit margin is an improvement over the level the company achieved in 2016,
when the profit margin was -12,766.2% of sales. The company has reported losses before extraordinary
items for each of the past 6 years. The company's return on equity in 2017 was -69.0%. This was significantly
better than the -319.6% return the company achieved in 2016. (Extraordinary items have been excluded).

Profitability Comparison
Gross Earnings
Profit EBITDA before
Company Year Margin Margin extras
MGC Pharmaceuticals Ltd 2017 -2,638.9% -2,776.2% -3,290.7%
MGC Pharmaceuticals Ltd 2016 -4,644.0% -4,974.2% -12,766.2%
Prana Biotechnology Limited 2017 -3,064.1% -7,464.9% -5,696.6%
Bod Australia Ltd 2017 41.7% -800.6% -897.9%
Prescient Therapeutics Ltd 2017 N/A -2,163.4% -1,544.7%
During the fourth quarter of 2017, MGC Pharmaceuticals Ltd reported a loss per share of A$0.01. The company
also reported losses during the fourth quarter of 2016, of A$0.00 per share.

Inventory Analysis

As of June 2017, the value of the company's inventory totalled A$507,873.00 . Since the cost of goods sold was
A$6.78 million for the year, the company had 27 days of inventory on hand (another way to look at this is to say
that the company turned over its inventory 13.3 times per year). This is an increase in days in inventory from
June 2016, when the company had A$157,035.00 , which was 25 days of sales in inventory.

Financial Position

This company has a large cash balance: in 2017, the company had only A$247,500.00 in sales, but its cash and
short term investments as of June 2017 were A$11.36 million, or 45.9 times the annual sales. This company has
over one year of receivables on its balance sheet: As of June 2017, the accounts receivable for the
company were A$613,246.00 , which is equivalent to 904 days of sales. This is an improvement over the end of
2016, when MGC Pharmaceuticals Ltd had 3,613 days of sales in accounts receivable.
Financial Positions
Days Days
Company Year AR Inv.
MGC Pharmaceuticals Ltd 2017 904 27
Prana Biotechnology Limited 2017 8,369 N/A
Bod Australia Ltd 2017 20 642
Prescient Therapeutics Ltd 2017 48 N/A
Company Fundamentals\Summary Analysis

SUMMARY ANALYSIS: MGC Pharmaceuticals Ltd

Per Share- Australian Dollars

Value Ratios Equity Capital Earnings Dividends

Year Price

Book 12 Month 12 Month

Fiscal Yr Market Price/ Price/ % % Profit Value Earnings % Dividends
Ends: Price Earnings Book Dividend Earned Rate Begin Per % Payout Per
June Last Ratio Ratio Yield Growth (ROE) Yr Share Change Ratio Share

- -
2009 0.03 n/c 1.2 0.0% 0.02 -0.02 n/c n/c 0.00
100.5% 100.5%

2010 0.02 n/c n/c 0.0% n/c n/c -0.00 -0.03 n/c n/c 0.00

2011 0.01 n/c n/c 0.0% n/c n/c -0.03 -0.01 n/c n/c 0.00

2012 0.02 n/c 4.6 0.0% -34.9% -34.9% 0.00 -0.00 n/c n/c 0.00
- -
2013 0.02 n/c 8.2 0.0% 0.00 -0.01 n/c n/c 0.00
429.1% 429.1%

2014 0.01 n/c 0.1 0.0% -31.9% -31.9% 0.10 -0.03 n/c n/c 0.00
2015 0.02 n/c 1.1 0.0% -76.1% -76.1% 0.02 -0.01 n/c n/c 0.00

- -
2016 0.04 n/c 8.5 0.0% 0.01 -0.01 n/c n/c 0.00
196.9% 196.9%

2017 0.05 n/c 3.6 0.0% -65.6% -65.6% 0.01 -0.01 n/c n/c 0.00
9/15/2017 0.04 n/c 2.9 0.0% n/a n/a 0.01 -0.01 n/c n/c 0.00
Company Fundamentals\Sales Analysis
SALES ANALYSIS: MGC Pharmaceuticals Ltd
Figures in actual amounts of Australian Dollars

Earnings before
Interest,
Taxes, Depreciation, After Tax Income
Cost of and before Extraordinary
Sales Goods Sold Amortization (EBITDA) Charges and Credits Employees

Amount Amount Amount Amount After Tax

in Year-to- in in in Sales Income
actual year actual % of actual % of actual % of Per Per
Year amounts Growth amounts Sales amounts Sales amounts Sales Number Employee Employee

- -
2008 1,905,662 -26.3% 2,709,358 142.2% -82.7% -99.0% n/a n/a n/a
1,575,301 1,886,078
- -
2009 2,215,521 16.3% 3,253,058 146.8% -62.6% -87.8% n/a n/a n/a
1,386,939 1,945,590

- -
2010 1,774,023 -19.9% 3,825,889 215.7% -102.8% -148.3% n/a n/a n/a
1,824,101 2,630,659
2013 25,660 n/c 503,177 1,960.9% n/a n/a -766,897 -2,988.7% n/a n/a n/a
- -
2014 11,357 -55.7% 402,485 3,543.9% n/a n/a n/a n/a n/a
5,337,815 47,000.2%
- -
2015 5,886 -48.2% 646,338 10,980.9% n/a n/a n/a n/a n/a
3,797,791 64,522.4%
- - - -
2016 48,230 719.4% 2,288,043 4,744.0% n/a n/a n/a
6,093,478 12,634.2% 6,157,144 12,766.2%
- -
2017 247,500 413.2% 6,778,798 2,738.9% -3,393.4% -3,290.7% n/a n/a n/a
8,398,779 8,144,361
Company Fundamentals\Price Analysis

PRICE ANALYSIS: MGC Pharmaceuticals Ltd

Per Share- Australian Dollars

High Low Closing Quarterly 12 months

Quarter Price Price Price %Change %Change

2009 Jan - Mar 0.038 0.023 0.038 n/a n/a

Apr - Jun 0.032 0.026 0.029 -23.1% n/a

Jul - Sep 0.044 0.020 0.044 50.0% n/a

Oct - Dec 0.045 0.033 0.035 -20.0% n/a

2010 Jan - Mar 0.035 0.023 0.023 -33.3% -38.5%

Apr - Jun 0.019 0.017 0.017 -25.0% -40.0%

Jul - Sep 0.014 0.010 0.012 -31.3% -72.5%

Oct - Dec 0.015 0.011 0.015 25.0% -57.1%

2011 Jan - Mar 0.015 0.011 0.014 -5.0% -38.8%

Apr - Jun 0.014 0.010 0.010 -31.6% -44.2%

Jul - Sep 0.012 0.009 0.012 23.1% 0.0%

Oct - Dec 0.011 0.008 0.009 -25.0% -40.0%

2012 Jan - Mar 0.008 0.008 0.008 -16.7% -47.4%

Apr - Jun 0.015 0.010 0.015 100.0% 53.8%

Oct - Dec 0.105 0.060 0.063 n/a 600.0%

2013 Jan - Mar 0.064 0.039 0.039 -38.1% 420.0%

Jul - Sep 0.020 0.011 0.011 n/a n/a

Oct - Dec 0.012 0.008 0.008 -27.3% -87.3%

2014 Jan - Mar 0.025 0.008 0.024 200.0% -38.5%

Apr - Jun 0.025 0.013 0.014 -41.7% n/a

Jul - Sep 0.017 0.009 0.009 -35.7% -18.2%

Oct - Dec 0.010 0.003 0.003 -66.7% -62.5%

2015 Jan - Mar 0.010 0.004 0.010 233.3% -58.3%

Apr - Jun 0.033 0.010 0.019 90.0% 35.7%

Jul - Sep 0.023 0.017 0.018 -5.3% 100.0%

2016 Jan - Mar 0.036 0.023 0.028 n/a 180.0%

Apr - Jun 0.083 0.028 0.044 57.1% 131.6%

Jul - Sep 0.055 0.039 0.042 -4.5% 133.3%

Oct - Dec 0.052 0.036 0.043 2.4% n/a

2017 Jan - Mar 0.120 0.037 0.077 79.1% 175.0%

Apr - Jun 0.083 0.041 0.046 -40.3% 4.5%

9/15/2017 0.043 -10.4% 2.4%
Company Fundamentals\Earnings & Dividends Analysis
EARNINGS AND DIVIDENDS ANALYSIS: MGC Pharmaceuticals Ltd
Per Share- Australian Dollars
Fiscal Year Ends in June

Earnings Per Share Dividends Per Share

12 Months Quarterly Reported Earnings 12 Months Quarterly Reported Dividends

Fiscal % Q1 Q2 Q3 Q4 % Q1 Q2 Q3 Q4 %
Years Earnings Change Sep. Dec. Mar. Jun. Dividends Change Sep. Dec. Mar. Jun. Payout
2006 0.00 n/c n/a n/a n/a n/a n/a n/c n/a n/a n/a n/a 31.6%
2007 -0.00 n/c n/a 0.00 n/a -0.01 0.00 n/c n/a n/a n/a 0.00 0.0%
2008 -0.02 n/c n/a -0.01 n/a -0.01 0.00 n/c n/a n/a n/a 0.00 0.0%
2009 -0.02 n/c n/a -0.01 n/a -0.01 0.00 n/c n/a n/a n/a 0.00 0.0%
2010 -0.03 n/c n/a -0.01 n/a -0.02 0.00 n/c n/a n/a n/a 0.00 0.0%
2011 -0.01 n/c n/a -0.00 n/a -0.00 0.00 n/c n/a n/a n/a 0.00 0.0%
2012 -0.00 n/c n/a -0.00 n/a -0.00 0.00 n/c n/a n/a n/a 0.00 0.0%
2013 -0.01 n/c n/a -0.01 n/a -0.01 0.00 n/c n/a n/a n/a 0.00 0.0%
2014 -0.03 n/c n/a -0.01 n/a -0.03 0.00 n/c n/a n/a n/a 0.00 0.0%
2015 -0.01 n/c n/a -0.00 n/a -0.01 0.00 n/c n/a n/a n/a 0.00 0.0%
2016 -0.01 n/c n/a -0.01 n/a -0.00 0.00 n/c n/a n/a n/a 0.00 0.0%
2017 -0.01 n/c n/a -0.00 n/a -0.01 n/a n/c n/a n/a n/a n/a 0.0%
Financial Statement AnalysesFinancial Statement Analyses\Balance Sheet - Annual
Annual Balance Sheet - (Actual Values): MGC Pharmaceuticals Ltd
All figures in millions of Australian Dollars.
Fiscal Year 2016 2015 2014 2013 2012
Fiscal Year End Date 06/30/2016 06/30/2015 06/30/2014 06/30/2013 06/30/2012
Assets
Total Assets 16 3 5 9 1
Total Current Assets 9 1 1 0 1
Cash & Short Term
8 0 1 0 1
Investments
Cash 8 0 1
Short Term
Investments
Receivables (Net) 0 0 0 0 0
Inventories -Total 0 0 0 0 0
Raw Materials 0 0
Work in Process 0 0
Finished Goods 0 0
Progress Payments &
0 0
Other
Prepaid Expenses
Other Current Assets 1 0 0 0 0
Long Term Receivables 0 0 0
Investment in Associated
0 0 0 0 0
Companies
Other Investments 0 0 0 0 0
Property Plant and
2 4
Equipment - Gross
Accumulated Depreciation
Property Plant and
0 2 4 8 0
Equipment Net
Other Assets 7 0 0 0 0
Deferred Charges 0 0 0
 Tangible Other Assets 0 0 0
Intangible Other Assets 7 0 0 0 0
Total Assets 16 3 5 9 1
Liabilities & Shareholders'
Equity
Total Liabilities &
16 3 5 9 1
Shareholders' Equity
Total Current Liabilities 5 0 0 0 0
Accounts Payable 0 0 0 0 0
Short Term Debt &
Current Portion of Long Term 1 0 0
Debt
Accrued Payroll
Income Taxes Payable
Dividends Payable
Other Current Liabilities 3 0 0 0 0
Long Term Debt 0 0
Long Term Debt Excluding
0 0
Capitalized Leases
Capitalized Lease
0 0 0 0
Obligations
Provision for Risks and
Charges
Deferred Income 0 0 0
Deferred Taxes 0 0
Deferred Taxes - Credit
Deferred Taxes - Debit
Other Liabilities 0 0 0 0 0
Total Liabilities 5 1 0 1 0
Non-Equity Reserves 0 0 0 0 0
Minority Interest -0 0 0 0 0
Preferred Stock 0 0 0 0 0
Common Equity 12 2 5 8 1
Total Liabilities &
16 3 5 9 1
Shareholders' Equity
Financial Statement Analyses\Balance Sheet - Annual - Common Size
Annual Balance Sheet - (Common Size): MGC Pharmaceuticals Ltd
Figures are expressed as Percent of Total Assets.
Total Assets are in millions of Australian Dollars.
Fiscal Year 2016 2015 2014 2013 2012
Fiscal Year End Date 06/30/2016 06/30/2015 06/30/2014 06/30/2013 06/30/2012
Assets
Total Assets 16.4 2.5 5.0 8.7 1.0
Total Current Assets 55.2% 20.7% 13.3% 2.7% 60.9%
Cash & Short Term
48.3% 17.3% 12.0% 1.9% 52.0%
Investments
Cash 48.3% 17.3% 12.0%
Short Term
Investments
Receivables (Net) 2.9% 3.3% 1.4% 0.6% 2.5%
Inventories -Total 1.0% 0.0% 0.0% 0.0% 0.0%
Raw Materials 0.0% 0.0%
Work in Process 0.0% 0.0%
Finished Goods 0.0% 0.0%
Progress Payments &
0.0% 0.0%
Other
Prepaid Expenses
Other Current Assets 3.1% 0.0% 0.0% 0.3% 6.4%
Long Term Receivables 0.0% 0.0% 0.0%
Investment in Associated
0.0% 0.0% 0.0% 0.0% 0.0%
Companies
Other Investments 0.0% 0.0% 0.0% 0.0% 0.0%
Property Plant and
79.3% 86.7%
Equipment - Gross
Accumulated Depreciation
Property Plant and
1.3% 79.3% 86.7% 97.3% 0.0%
Equipment Net
Other Assets 43.5% 0.0% 0.0% 0.0% 39.1%
 Deferred Charges 0.0% 0.0% 0.0%
Tangible Other Assets 0.2% 0.0% 0.0%
Intangible Other Assets 43.3% 0.0% 0.0% 0.0% 0.0%
Total Assets 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities & Shareholders'
Equity
Total Liabilities &
16.4 2.5 5.0 8.7 1.0
Shareholders' Equity
Total Current Liabilities 28.2% 15.8% 4.7% 5.6% 20.7%
Accounts Payable 2.8% 15.8% 4.7% 1.3% 16.1%
Short Term Debt &
Current Portion of Long Term 6.6% 1.5% 0.0%
Debt
Accrued Payroll
Income Taxes Payable
Dividends Payable
Other Current Liabilities 18.8% 0.0% 0.0% 2.7% 4.5%
Long Term Debt 3.2% 0.0%
Long Term Debt Excluding
3.2% 0.0%
Capitalized Leases
Capitalized Lease
0.0% 0.0% 0.0% 0.0%
Obligations
Provision for Risks and
Charges
Deferred Income 0.0% 0.0% 0.0%
Deferred Taxes 0.0% 0.0%
Deferred Taxes - Credit
Deferred Taxes - Debit
Other Liabilities 0.1% 7.7% 3.9% 0.0% 0.0%
Total Liabilities 28.3% 23.6% 8.6% 8.7% 20.7%
Non-Equity Reserves 0.0% 0.0% 0.0% 0.0% 0.0%
Minority Interest -0.5% 0.0% 0.0% 0.0% 0.0%
Preferred Stock 0.0% 0.0% 0.0% 0.0% 0.0%
Common Equity 72.2% 76.4% 91.4% 91.3% 79.3%
Total Liabilities &
100.0% 100.0% 100.0% 100.0% 100.0%
Shareholders' Equity
Financial Statement Analyses\Balance Sheet - Annual - Year-Year % Change
Balance Sheet - (Year to Year Percent Change): MGC Pharmaceuticals Ltd
Figures are the Percent Changes from the Prior Year.
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
Assets
Total Assets 27.3% 549.1% -49.4% -42.8% 777.1%
Cash & Short Term Investments 43.9% 1,706.8% -26.6% 268.6% -68.7%
Cash 43.9% 1,706.8% -26.6%
Short Term Investments
Receivables (Net) 28.5% 470.9% 22.4% 26.0% 117.7%
Inventories -Total 223.4%
Raw Materials
Work in Process
Finished Goods
Progress Payments & Other
Prepaid Expenses
Other Current Assets -100.0% -100.0% -65.4%
Current Assets - Total 38.3% 1,634.5% -21.5% 179.0% -60.7%
Long Term Receivables
Investment in Associated
Companies
Other Investments
Property Plant and Equipment -
-53.7%
Gross
Accumulated Depreciation
Property Plant and Equipment
496.2% -89.4% -53.7% -49.0%
Net
Other Assets -0.6% -100.0%
Deferred Charges
Tangible Other Assets -100.0%
 Intangible Other Assets -0.1%
Total Assets 27.3% 549.1% -49.4% -42.8% 777.1%
Liabilities & Shareholders'
Equity
Total Liabilities & Shareholders'
27.3% 549.1% -49.4% -42.8% 777.1%
Equity
Accounts Payable 30.7% 14.4% 70.2% 101.6% -27.3%
Short Term Debt & Current Portion
-100.0%
of Long Term Debt
Accrued Payroll
Income Taxes Payable
Dividends Payable
Other Current Liabilities 41.9% -100.0% 424.4%
Current Liabilities - Total 7.7% 1,056.4% 70.2% -51.6% 136.2%
Long Term Debt
Long Term Debt Excluding
Capitalized Leases
Capitalized Lease Obligations
Provision for Risks and Charges
Deferred Income
Deferred Taxes
Deferred Taxes - Credit
Deferred Taxes - Debit
Deferred Tax Liability in Untaxed
Reserves
Other Liabilities -0.4% -89.5% 0.0%
Total Liabilities 8.6% 680.1% 38.3% -43.4% 270.3%
Non-Equity Reserves
Minority Interest
Preferred Stock
Preferred Stock Issued for
ESOP
 ESOP Guarantees - Preferred
Issued
Common Equity 37.5% 512.9% -57.6% -42.7% 909.0%
Total Liabilities & Shareholders'
27.3% 549.1% -49.4% -42.8% 777.1%
Equity
Financial Statement Analyses\Balance Sheet - Annual - Five-Year Averages
Balance Sheet - (5 Year Averages): MGC Pharmaceuticals Ltd
Figures in millions of Australian Dollars.
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
Assets
Total Assets 10.7 6.7 3.7 6.0 8.3
Cash & Short Term Investments 4.1 1.9 0.6 0.5 0.5
Cash
Short Term Investments
Receivables (Net) 0.3 0.1 0.1 0.1 0.2
Inventories -Total 0.1 0.0 0.0 0.0 0.0
Raw Materials
Work in Process
Finished Goods
Progress Payments & Other
Prepaid Expenses
Other Current Assets 0.1 0.1 0.0 0.0 0.0
Current Assets - Total 4.6 2.2 0.6 0.6 0.8
Long Term Receivables
Investment in Associated
0.0 0.0 0.0 0.0 0.0
Companies
Other Investments 0.0 0.0 0.0 0.0 2.8
Property Plant and Equipment -
Gross
Accumulated Depreciation
Property Plant and Equipment
3.3 3.0 3.0 2.6 1.7
Net
Other Assets 2.8 1.5 0.1 2.9 3.0
Deferred Charges
Tangible Other Assets
 Intangible Other Assets 2.8 1.4 0.0 0.0 0.1
Total Assets 10.7 6.7 3.7 6.0 8.3
Liabilities & Shareholders'
Equity
Total Liabilities & Shareholders'
10.7 6.7 3.7 6.0 8.3
Equity
Accounts Payable 0.4 0.3 0.2 0.2 0.2
Short Term Debt & Current Portion
3.2
of Long Term Debt
Accrued Payroll
Income Taxes Payable
Dividends Payable
Other Current Liabilities 1.5 0.7 0.1 0.5 0.8
Current Liabilities - Total 2.1 1.2 0.3 3.6 4.2
Long Term Debt 1.9
Long Term Debt Excluding
1.9
Capitalized Leases
Capitalized Lease Obligations 0.0 0.0 0.0
Provision for Risks and Charges
Deferred Income
Deferred Taxes 0.0
Deferred Taxes - Credit
Deferred Taxes - Debit
Deferred Tax Liability in Untaxed
Reserves
Other Liabilities 0.1 0.1 0.1 0.0 0.9
Total Liabilities 2.3 1.3 0.5 3.8 7.0
Non-Equity Reserves 0.0 0.0 0.0 0.0 0.0
Minority Interest -0.1 -0.0 0.0 -0.1 -0.1
Preferred Stock 0.0 0.0 0.0 0.0 0.0
Preferred Stock Issued for
ESOP
 ESOP Guarantees - Preferred
Issued
Common Equity 8.5 5.4 3.2 2.3 1.4
Total Liabilities & Shareholders'
10.7 6.7 3.7 6.0 8.3
Equity
Financial Statement Analyses\Balance Sheet - Interim
Interim Balance Sheet - (Actual Values): MGC Pharmaceuticals Ltd
All figures in millions of Australian Dollars.
Fiscal Period End Date 12/31/2016 06/30/2016 12/31/2015 06/30/2015 12/31/2014
Assets
Total Assets 13 16 2 3 4
Total Current Assets 6 9 1 1 0
Cash & Short Term
5 8 1 0 0
Investments
Receivables (Net) 1 0 0 0 0
Inventories - Total 0 0 0 0 0
Prepaid Expenses
Other Current Assets 0 1 0 0 0
Investment in Associated
0 0 0 0 0
Companies
Property Plant and
1 2 4
Equipment - Gross
Accumulated Depreciation
Property Plant and
0 0 1 2 4
Equipment Net
Other Assets 7 7 0 0 0
Intangible Other Assets 7 7 0 0 0
Total Assets 13 16 2 3 4
Liabilities & Shareholders'
Equity
Total Liabilities &
13 16 2 3 4
Shareholders' Equity
Total Current Liabilities 3 5 0 0 0
Accounts Payable 0 0 0 0 0
Short Term Debt &
Current Portion of Long Term 0 1
Debt
Income Taxes Payable
 Other Current Liabilities 3 3
Long Term Debt 0 0
Long Term Debt Excluding
0 0
Capitalized Leases
Capitalized Lease
0 0 0
Obligations
Deferred Taxes
Deferred Taxes - Credit
Deferred Taxes - Debit
Other Liabilities 0 0
Total Liabilities 3 5 0 1 0
Non-Equity Reserves 0 0 0 0 0
Minority Interest -0 -0 0 0 0
Preferred Stock 0 0 0 0 0
Common Equity 10 12 1 2 4
Total Liabilities &
13 16 2 3 4
Shareholders' Equity
Financial Statement Analyses\Balance Sheet - Interim - Common Size
Interim Balance Sheet - (Common Size): MGC Pharmaceuticals Ltd
Figures are expressed as Percent of Total Assets.
Total Assets are in millions of Australian Dollars.
Fiscal Period End Date 12/31/2016 06/30/2016 12/31/2015 06/30/2015 12/31/2014
Assets
Total Assets 13.3 16.4 1.7 2.5 4.2
Total Current Assets 43.4% 55.2% 70.0% 20.7% 5.3%
Cash & Short Term
34.7% 48.3% 63.6% 17.3% 3.8%
Investments
Receivables (Net) 6.1% 2.9% 6.5% 3.3% 1.5%
Inventories - Total 2.6% 1.0% 0.0% 0.0% 0.0%
Prepaid Expenses
Other Current Assets 0.0% 3.1% 0.0% 0.0% 0.0%
Investment in Associated
0.0% 0.0% 0.0% 0.0% 0.0%
Companies
Property Plant and
30.0% 79.3% 94.7%
Equipment - Gross
Accumulated Depreciation
Property Plant and
2.9% 1.3% 30.0% 79.3% 94.7%
Equipment Net
Other Assets 53.6% 43.5% 0.0% 0.0% 0.0%
Intangible Other Assets 53.4% 43.3% 0.0% 0.0% 0.0%
Total Assets 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities & Shareholders'
Equity
Total Liabilities &
13.3 16.4 1.7 2.5 4.2
Shareholders' Equity
Total Current Liabilities 24.2% 28.2% 18.1% 15.8% 4.0%
Accounts Payable 1.5% 2.8% 18.1% 15.8% 4.0%
Short Term Debt &
Current Portion of Long Term 0.0% 6.6%
Debt
Income Taxes Payable
 Other Current Liabilities 22.7% 18.8%
Long Term Debt 0.0% 7.7%
Long Term Debt Excluding
0.0% 7.7%
Capitalized Leases
Capitalized Lease
0.0% 0.0% 0.0%
Obligations
Deferred Taxes
Deferred Taxes - Credit
Deferred Taxes - Debit
Other Liabilities 11.7% 0.0%
Total Liabilities 24.7% 28.3% 29.8% 23.6% 10.9%
Non-Equity Reserves 0.0% 0.0% 0.0% 0.0% 0.0%
Minority Interest -1.6% -0.5% 0.0% 0.0% 0.0%
Preferred Stock 0.0% 0.0% 0.0% 0.0% 0.0%
Common Equity 77.0% 72.2% 70.2% 76.4% 89.1%
Total Liabilities &
100.0% 100.0% 100.0% 100.0% 100.0%
Shareholders' Equity
Financial Statement Analyses\Income Statement - Annual
Annual Income Statement - (Actual Values): MGC Pharmaceuticals Ltd
All figures in millions of Australian Dollars.
Fiscal Year 2016 2015 2014 2013
Fiscal Year End Date 06/30/2016 06/30/2015 06/30/2014 06/30/2013
Net Sales or Revenues 0 0 0 0
Cost of Goods Sold 2 1 0 1
Depreciation, Depletion & Amortization 0 0 0
Gross Income -2 -1 -0 -0
Selling, General & Administrative
Expenses
Other Operating Expenses 0 0
Operating Expenses - Total 2 1 1
Operating Income -2 -1 -1 -1
Extraordinary Credit - Pretax 0 0 0
Extraordinary Charge - Pretax 4 3 5
Non-Operating Interest Income
Reserves - Increase/Decrease
Pretax Equity in Earnings 0 0 0
Other Income/Expense - Net 0 -0 -0 -0
Earnings before Interest, Taxes,
-6
Depreciation & Amortization (EBITDA)
Earnings before Interest & Taxes(EBIT) -6
Interest Expense on Debt
Interest Capitalized
Pretax Income -6 -4 -5 -1
Income Taxes 0 0 0 0
Minority Interest -0 0 0 0
Equity in Earnings 0 0 0
After Tax Other Income/Expense 0 0 0
Discontinued Operations 0 0 0 0
Net Income before Extraordinary
-6 -4 -5 -1
Items/Preferred Dividends
Extraordinary Items & Gain/Loss Sale of
0 0 0 0
Assets
Preferred Dividend Requirements 0 0 0 0
Net Income after Preferred Dividends -
-6 -4 -5 -1
available to Common
Financial Statement Analyses\Income Statement - Annual - Common Size
Annual Income Statement - (Common Size): MGC Pharmaceuticals Ltd
Figures are expressed as Percent of Net Sales or Revenues.
Net Sales or Revenues are in millions of Australian Dollars.
Fiscal Year 2016 2015 2014 2013
Fiscal Year End Date 06/30/2016 06/30/2015 06/30/2014 06/30/2013
Net Sales or Revenues 0.0 0.0 0.0 0.0
Cost of Goods Sold 4,744.0% 10,980.9% 3,543.9% 1,960.9%
Depreciation, Depletion & Amortization 34.4% 0.0% 32.5%
-
Gross Income -4,678.4% -3,443.9% -1,893.4%
10,880.9%
Selling, General & Administrative
Expenses
Other Operating Expenses 330.2% 960.4%
Operating Expenses - Total 5,108.6% 14,504.3% 4,504.3%
-
Operating Income -5,008.6% -4,404.3% -2,882.1%
14,404.3%
Extraordinary Credit - Pretax 0.0% 0.0% 0.0%
Extraordinary Charge - Pretax 7,660.0% 50,007.5% 42,572.5%
Non-Operating Interest Income
Reserves - Increase/Decrease
Pretax Equity in Earnings 0.0% 0.0% 0.0%
Other Income/Expense - Net 0.0% -110.7% -23.4% -106.6%
Earnings before Interest, Taxes, -
Depreciation & Amortization (EBITDA) 12,634.2%
-
Earnings before Interest & Taxes(EBIT)
12,668.6%
Interest Expense on Debt
Interest Capitalized
- - -
Pretax Income -2,988.7%
12,917.4% 64,522.4% 47,000.2%
Income Taxes 0.0% 0.0% 0.0% 0.0%
Minority Interest -167.2% 0.0% 0.0% 0.0%
Equity in Earnings 0.0% 0.0% 0.0%
After Tax Other Income/Expense 0.0% 0.0% 0.0%
Discontinued Operations 0.0% 0.0% 0.0% 0.0%
Net Income before Extraordinary - - -
-2,988.7%
Items/Preferred Dividends 12,766.2% 64,522.4% 47,000.2%
Extraordinary Items & Gain/Loss Sale of
0.0% 0.0% 0.0% 0.0%
Assets
Preferred Dividend Requirements 0.0% 0.0% 0.0% 0.0%
Net Income after Preferred Dividends - - - -
-2,988.7%
available to Common 12,766.2% 64,522.4% 47,000.2%
Financial Statement Analyses\Income Statement - Year-Year % Change
Income Statement - (Year to Year Percent Change): MGC Pharmaceuticals Ltd
Figures are the Percent Changes from the Prior Year.
Fiscal Year 2017 2016 2015 2014 2013
-
Net Sales or Revenues 413.2% 719.4% -55.7%
48.2%
Cost of Goods Sold 196.3% 254.0% 60.6% -20.0% 78.4%
-
Depreciation, Depletion & Amortization 403.8%
100.0%
Gross Income
Selling, General & Administrative Expenses
Other Operating Expenses 113.4%
Operating Expenses - Total 192.3% 188.6% 66.9%
Operating Income
Extraordinary Credit - Pretax
-
Extraordinary Charge - Pretax -58.6% 25.5%
39.1%
Non-Operating Interest Income
Reserves - Increase/Decrease
Pretax Equity in Earnings
Other Income/Expense - Net
Earnings before Interest, Taxes, Depreciation &
Amortization (EBITDA)
Earnings before Interest & Taxes(EBIT)
Interest Expense on Debt -83.6%
Interest Capitalized
Pretax Income
Income Taxes
Minority Interest
Equity in Earnings
After Tax Other Income/Expense
Discontinued Operations
Net Income before Extraordinary
Items/Preferred Dividends
-
Extraordinary Items & Gain/Loss Sale of Assets
100.0%
Preferred Dividend Requirements
Net Income after Preferred Dividends -
available to Common
Financial Statement Analyses\Income Statement - Five-Year Averages
Income Statement - (5 Year Averages): MGC Pharmaceuticals Ltd
Figures in millions of Australian Dollars.
Fiscal Year 2017 2016 2015 2014 2013
Net Sales or Revenues 0.1 0.0 0.0 0.4 0.8
Cost of Goods Sold 2.1 0.8 0.4 1.0 1.6
Depreciation, Depletion & Amortization
Gross Income -2.1 -0.8 -0.4 -0.7 -0.8
Selling, General & Administrative Expenses
Other Operating Expenses
Operating Expenses - Total
Operating Income -2.3 -1.0 -0.5 -0.8 -0.9
Extraordinary Credit - Pretax
Extraordinary Charge - Pretax
Non-Operating Interest Income
Reserves - Increase/Decrease
Pretax Equity in Earnings
Other Income/Expense - Net -0.0 -0.0 -0.0 0.0 0.0
Earnings before Interest, Taxes, Depreciation & Amortization
(EBITDA)
Earnings before Interest & Taxes(EBIT)
Interest Expense on Debt
Interest Capitalized
Pretax Income -4.9 -3.3 -2.1 -2.0 -1.3
Income Taxes 0.0 0.0 -0.0 -0.0 -0.0
Minority Interest -0.1 -0.0 0.0 -0.1 -0.1
Equity in Earnings
After Tax Other Income/Expense
Discontinued Operations 0.0 0.0 -0.1 -0.1
Net Income before Extraordinary Items/Preferred Dividends -4.8 -3.3 -2.2 -1.9 -1.3
Extraordinary Items & Gain/Loss Sale of Assets 0.0 0.0 0.5 0.5 0.5
Preferred Dividend Requirements 0.0 0.0 0.0 0.0 0.0
Net Income after Preferred Dividends - available to Common -4.8 -3.3 -2.2 -1.9 -1.3
Financial Statement Analyses\Income Statement - Interim
Interim Income Statement - (Actual Values): MGC Pharmaceuticals Ltd
All figures in millions of Australian Dollars.
Fiscal Period End Date 12/31/2016 06/30/2016 12/31/2015 06/30/2015 12/31/2014
Net Sales or Revenues 0 0 0 0 0
Cost of Goods Sold 0 0 0 0 0
Depreciation, Depletion &
0 0
Amortization
Gross Income 0 -0 0 0 0
Selling, General &
3 2 1 0 0
Administrative Expenses
Other Operating Expenses 0 0 0 0 0
Operating Expenses - Total
Operating Income -3 -2 -2 -0 -0
Extraordinary Credit - Pretax 0 0 0 1 0
Extraordinary Charge - Pretax 0 2 2 3 1
Non-Operating Interest
Income
Reserves -
Increase/Decrease
Pretax Equity in Earnings 0 0 0 0 0
Other Income/Expense - Net 0 1 -0 -0 -0
Earnings before Interest,
Taxes, Depreciation & -3 -3
Amortization (EBITDA)
Earnings before Interest &
-3 -3
Taxes(EBIT)
Interest Expense on Debt
Interest Capitalized
Pretax Income -3 -3 -3 -3 -1
Income Taxes 0 0 0 0 0
Minority Interest -0 -0 0 0 0
Equity in Earnings 0 0 0 0 0
After Tax Other
Income/Expense
Discontinued Operations 0 0 0 0 0
Net Income before
Extraordinary Items/Preferred -3 -3 -3 -3 -1
Dividends
Extraordinary Items &
0 0 0 0 0
Gain/Loss Sale of Assets
Preferred Dividend
0 0 0 0 0
Requirements
Net Income after Preferred
Dividends - available to -3 -3 -3 -3 -1
Common
Financial Statement Analyses\Income Statement - Interim - Common Size
Interim Income Statement - (Common Size): MGC Pharmaceuticals Ltd
Figures are expressed as Percent of Net Sales or Revenues.
Net Sales or Revenues are in millions of Australian Dollars.
Fiscal Period End Date 12/31/2016 06/30/2016 12/31/2015 06/30/2015 12/31/2014
Net Sales or Revenues 0.1 0.0 0.0 0.0 0.0
Cost of Goods Sold 50.6% 50.0% 0.0% 0.0% 0.0%
Depreciation, Depletion &
26.0% 55.2%
Amortization
Gross Income 23.3% -5.2% 100.0% 100.0% 100.0%
Selling, General &
2,038.3% 5,766.5% 7,310.9% 11,372.4% 10,725.1%
Administrative Expenses
Other Operating Expenses 74.8% 0.0% 1,752.8% 4,698.5% 2,755.5%
Operating Expenses - Total
-
Operating Income -2,089.8% -5,771.7% -8,963.7% -15,970.9%
13,380.6%
Extraordinary Credit - Pretax 48.3% 0.0% 0.0% 27,939.0% 0.0%
Extraordinary Charge -
73.1% 6,359.1% 9,808.5% 126,545.2% 18,254.5%
Pretax
Non-Operating Interest
Income
Reserves -
Increase/Decrease
Pretax Equity in Earnings 0.0% 0.0% 0.0% 0.0% 0.0%
Other Income/Expense - Net 0.0% 3,195.7% -62.3% -145.2% -88.1%
Earnings before Interest,
Taxes, Depreciation & -2,088.5% -8,879.8%
Amortization (EBITDA)
Earnings before Interest &
-2,114.5% -8,935.0%
Taxes(EBIT)
Interest Expense on Debt
Interest Capitalized
- - -
Pretax Income -2,140.6% -9,334.5%
18,834.5% 114,722.4% 31,723.3%
Income Taxes 0.0% 0.0% 0.0% 0.0% 0.0%
Minority Interest -147.6% -268.5% 0.0% 0.0% 0.0%
Equity in Earnings 0.0% 0.0% 0.0% 0.0% 0.0%
After Tax Other
Income/Expense
Discontinued Operations 0.0% 0.0% 0.0% 0.0% 0.0%
Net Income before
- - -
Extraordinary -2,049.4% -9,091.7%
18,834.5% 114,722.4% 31,723.3%
Items/Preferred Dividends
Extraordinary Items &
0.0% 0.0% 0.0% 0.0% 0.0%
Gain/Loss Sale of Assets
Preferred Dividend
0.0% 0.0% 0.0% 0.0% 0.0%
Requirements
Net Income after Preferred
- - -
Dividends - available to -2,049.4% -9,091.7%
18,834.5% 114,722.4% 31,723.3%
Common
Financial Statement Analyses\Sources of Capital - Net Change
Sources of Capital: MGC Pharmaceuticals Ltd
Currency figures are in millions of Australian Dollars.
Year to year % changes pertain to reported Balance Sheet values.
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
Total Capital 15.8 11.7 1.9 4.5 8.2
Percent of Total Capital
Short Term Debt 0.0% 9.2% 1.6%
Long Term Debt 3.3%
Other Liabilities 0.1% 0.2% 10.1% 4.3% 0.0%
Total Liabilities 31.9% 39.5% 30.8% 9.4% 9.2%
Minority Interest -2.8% -0.7% 0.0% 0.0% 0.0%
Preferred Stock 0.0% 0.0% 0.0% 0.0% 0.0%
Retained Earnings -166.5% -175.3% -757.7% -245.7% -77.2%
Common Equity 102.8% 100.7% 100.0% 100.0% 96.7%
Total Capital 100.0% 100.0% 100.0% 100.0% 100.0%
Year to Year Net Changes
Short Term Debt -0.1 0.0
Long Term Debt 0.0
Other Liabilities -0.0 -0.0 0.0 0.0 0.0
Total Liabilities 0.0 0.4 0.0 -0.0 0.1
Minority Interest -0.0 -0.0 0.0 0.0 0.0
Preferred Stock 0.0 0.0 0.0 0.0 0.0
Retained Earnings -0.6 -0.6 -0.3 -0.5 -0.1
Common Equity 0.4 1.0 -0.3 -0.3 0.7
Total Capital 0.4 1.0 -0.3 -0.4 0.7
Year to Year Percent Changes
Short Term Debt -100.0%
Long Term Debt
Other Liabilities -0.4% -89.5% 0.0%
Total Liabilities 8.6% 680.1% 38.3% -43.4% 270.3%
Minority Interest
Preferred Stock
Retained Earnings
Common Equity 37.5% 512.9% -57.6% -42.7% 909.0%
Total Capital 34.6% 508.7% -57.6% -44.7% 943.9%
Total Liabilities & Common
Equity
Total Liabilities 5.0 4.6 0.6 0.4 0.8
Net Change in Liabilities as
7.9% 87.2% 27.7% -76.8% 73.0%
% of Total Liabilities
Common Equity 16.2 11.8 1.9 4.5 7.9
Net Change in Common Equity as
27.3% 83.7% -136.1% -74.6% 90.1%
% of Common Equity
Cash Flow
Operating Activities -4.7 -3.2 -0.6 -0.5 -0.5
Financing Activities 8.8 11.3 0.8 1.4 2.4
Investing Activities 0.6 0.7 0.3 0.5 2.2
Financial Ratio AnalysesFinancial Ratio Analyses\Accounting Ratios
Accounting Ratios: MGC Pharmaceuticals Ltd
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
Receivables Turnover 0.4 0.1 0.1 0.2 0.5
Receivables - Number of Days 804.2 2,122.8 4,710.4 1,968.9 562.8
Inventory Turnover 20.4 29.1
Inventory - Number of Days 17.9 12.5
Gross Property, Plant & Equipment
0.0 0.0
Turnover
Net Property, Plant & Equipment
0.2 0.2 0.0 0.0 0.0
Turnover
Depreciation, Depletion &
Amortization
0.0%
% of Gross Property, Plant &
Equipment
Depreciation, Depletion &
Amortization 0.0 -0.0
Year to Year Change
Depreciation, Depletion &
Amortization 403.8% -100.0%
Year to Year % Change
Financial Ratio Analyses\Asset Utilization
Asset Utilization: MGC Pharmaceuticals Ltd
Figures are expressed as the ratio of Net Sales.
Net Sales are in millions of Australian Dollars.
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
Net Sales 0.2 0.0 0.0 0.0 0.0
Cash & Cash Equivalents 4,591.5% 16,370.6% 7,424.1% 5,239.8% 629.1%
Short-Term Investments
Accounts Receivable 247.8% 989.8% 1,420.6% 601.4% 211.3%
Inventories 205.2% 325.6% 0.0% 0.0% 0.0%
Other Current Assets 0.0% 1,036.7% 0.0% 0.0% 86.2%
Total Current Assets 5,044.5% 18,722.7% 8,844.8% 5,841.2% 926.6%
Total Long Term Receivables &
0.0% 0.0% 0.0% 0.0% 0.0%
Investments
Long Term Receivables 0.0% 0.0% 0.0% 0.0%
Investments in Associated
0.0% 0.0% 0.0% 0.0% 0.0%
Companies
Other Investments 0.0% 0.0% 0.0% 0.0% 0.0%
Property, Plant & Equipment -
33,978.9% 37,994.5%
Gross
Accumulated Depreciation
Property Plant & Equipment -
508.5% 437.6% 33,978.9% 37,994.5% 32,993.0%
Net
Other Assets 2,859.1% 14,762.2% 0.0% 0.0% 0.0%
Total Assets 8,412.0% 33,922.6% 42,823.7% 43,835.8% 33,919.6%
Financial Ratio Analyses\Fixed Charges Coverage
Fixed Charges Coverage: MGC Pharmaceuticals Ltd
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
EBIT/Total Interest Expense -430.0 -50.9
EBIT/Net Interest -430.0 -50.9
EBIT/(Total Interest Exp + Pfd Div) -430.0 -50.9
EBIT/Dividends on Common Shares
EBIT/(Dividends on Common + Pfd)
EBITDA/Total Interest Expense -425.8 -50.8
EBITDA/Net Interest -425.8 -50.8
EBITDA/(Total Interest Exp + Pfd
-425.8 -50.8
Div)
EBITDA/Dividends on Com Shares
EBITDA/(Dividends on Com + Pfd)
Financial Ratio Analyses\Leverage Analysis
Leverage Analysis: MGC Pharmaceuticals Ltd
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
Long Term Debt % of EBIT
Long Term Debt % of EBITDA
Long Term Debt % of Total Assets 3.2%
Long Term Debt % of Total Capital 3.3%
Long Term Debt % of Com Equity 3.5%
Total Debt % of EBIT
Total Debt % of EBITDA
Total Debt % of Total Assets 0.0% 6.6% 4.7%
Total Debt % of Total Capital 0.0% 9.2% 4.9%
Total Debt % of Total Capital &
4.9%
Short Term Debt
Total Debt % of Common Equity 5.1%
Minority Interest % of EBIT
Minority Interest % of EBITDA
Minority Interest % of Total Assets -2.1% -0.5% 0.0% 0.0% 0.0%
Minority Interest % of Total Capital -2.8% -0.7% 0.0% 0.0% 0.0%
Minority Interest % of Com Equity -2.7% -0.7% 0.0% 0.0% 0.0%
Preferred Stock % of EBIT
Preferred Stock % of EDITDA
Preferred Stock % of Total Assets 0.0% 0.0% 0.0% 0.0% 0.0%
Preferred Stock % of Total Capital 0.0% 0.0% 0.0% 0.0% 0.0%
Preferred Stock % of Total Equity 0.0% 0.0% 0.0% 0.0% 0.0%
Common Equity % of Total Assets 78.0% 72.2% 76.4% 91.4% 91.3%
Common Equity % of Total Capital 102.8% 100.7% 100.0% 100.0% 96.7%
Total Capital % of Total Assets 75.8% 71.7% 76.4% 91.4% 94.4%
Capital Expenditure % of Sales 457.1% 514.0% 5,375.4% 4,471.9% 8,663.2%
Fixed Assets % of Common Equity 7.8% 1.8% 103.8% 94.9% 106.6%
Working Capital % of Total Capital 47.6% 37.7% 6.3% 9.4% -3.0%
Dividend Payout 0.0% 0.0% 0.0% 0.0% 0.0%
Funds From Operations % of Total
-299.5% -239.0%
Debt
Financial Ratio Analyses\Liquidity Analysis
Liquidity Analysis: MGC Pharmaceuticals Ltd
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
Total Current Assets % Net Sales 5,044.5% 18,722.7% 8,844.8% 5,841.2% 926.6%
Cash % of Current Assets 91.0% 87.4% 83.9% 89.7%
Cash & Equivalents % of Current
91.0% 87.4% 83.9% 89.7% 67.9%
Assets
Quick Ratio 2.4 1.8 1.3 2.8 0.4
Receivables % of Current Assets 4.9% 5.3% 16.1% 10.3% 22.8%
Receivable Turnover - number of
804.2 2,122.8 4,710.4 1,968.9 562.8
days
Inventories % of Current Assets 4.1% 1.7% 0.0% 0.0% 0.0%
Inventory Turnover - number of
17.9 12.5
days
Inventory to Cash & Equivalents -
8,055.2 18,100.4
number of days
Receivables % of Total Assets 2.9% 2.9% 3.3% 1.4% 0.6%
Current Ratio 2.5 2.0 1.3 2.8 0.5
Total Debt % of Total Capital 4.9%
Funds from Operations % of
-93.7% -69.8% -154.9% -201.8% -200.7%
Current Liabilities
Funds from Operations % of Long
-353.1%
Term Debt
Funds from Operations % of Total
-299.5% -239.0%
Debt
Funds from Operations % of Total
-29.5% -27.5% -32.1% -10.4% -11.8%
Capital
Cash Flow (in milllions of
Australian Dollars)
Operating Activities -4.7 -3.2 -0.6 -0.5 -0.5
Financing Activities 8.8 11.3 0.8 1.4 2.4
Investing Activities 0.6 0.7 0.3 0.5 2.2
Financial Ratio Analyses\Per-Share Ratios
Per Share Data: MGC Pharmaceuticals Ltd
Figures are expressed as per unit of respective shares.
Figures are in Australian Dollars.
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
Sales 0.00 0.00 0.00 0.00 0.00
Operating Income -0.01 -0.00 -0.00 -0.00 -0.01
Pre-tax Income -0.01 -0.01 -0.01 -0.02 -0.01
Net Income (Continuing Operations)
Net Income Before Extra Items -0.01 -0.01 -0.01 -0.02 -0.01
Extraordinary Items 0.00 0.00 0.00 0.00
Net Income After Extraordinary
-0.01 -0.01 -0.01 -0.02 -0.01
Items
Net Income Available to Common
-0.01 -0.01 -0.01 -0.03 -0.01
Shares
Fully Diluted Earnings -0.01 -0.01 -0.01 -0.03 -0.01
Common Dividends 0.00 0.00 0.00 0.00
Cash Earnings -0.00 -0.01 -0.00 -0.00 -0.01
Book Value 0.01 0.01 0.01 0.02 0.10
Retained Earnings -0.02 -0.02 -0.04 -0.04 -0.08
Assets 0.02 0.02 0.01 0.02 0.11
Financial Ratio Analyses\Profitability Growth
Profitability Analysis: MGC Pharmaceuticals Ltd
Currency figures are in Australian Dollars.
Fiscal Year 2017 2016 2015 2014 2013
Fiscal Year End Date 6/30/2017 6/30/2016 6/30/2015 6/30/2014 6/30/2013
- - -
Gross Income Margin -4,678.4% -3,443.9%
2,672.7% 10,880.9% 1,893.4%
- - -
Operating Income Margin -5,008.6% -4,404.3%
2,810.0% 14,404.3% 2,882.1%
- - - - -
Pretax Income Margin
3,435.2% 12,917.4% 64,522.4% 47,000.2% 2,988.7%
- -
EBIT Margin
3,427.2% 12,668.6%
- - - - -
Net Income Margin
3,290.7% 12,766.2% 64,522.4% 47,000.2% 2,988.7%
Return on Equity - Total -58.1% -89.6% -117.3% -85.4% -17.6%
Return on Invested Capital -56.8% -82.0% -117.3% -82.8% -16.8%
Return on Assets -43.7% -63.9% -101.3% -78.0% -15.8%
Asset Turnover 0.0 0.0 0.0 0.0 0.0
Financial Leverage 5.1%
Interest Expense on Debt 19,724 120,006
Effective Tax Rate
- - -
Cash Flow % Sales -6,677.4% -4,162.5%
1,881.2% 10,494.5% 3,784.7%
Selling, General &
Administrative Expenses % of
Sales
Research & Development
Expense
Operating Income Return On
34.6% 508.7% -57.6% -44.7% 943.9%
Total Capital
Wright Quality Rating AnalysesWright Quality Rating Analyses\Investment Acceptance
Wright Quality Rating - Investment Acceptance: MGC Pharmaceuticals Ltd
Currency figures are in millions of U.S. Dollars.

Wright Quality Rating

LCNN
Investment Acceptance Rating LCNN
Total Market Value of Shares Outstanding - Three Year Average 35
- Current Year 38
Public Market Value (Excludes Closely Held) - Three Year Average 26
- Current Year 28
Trading Volume - Three Year Average 0
- Current Year 0
Turnover Rate - Three Year Average 0.0%
- Current Year 0.0%

Stock Exchange Listings

Number of Institutional Investors 0

Number of Shareholders
Closely Held Shares as % of Total Shares Outstanding 25.4%
Wright Quality Rating Analyses\Financial Strength
Wright Quality Rating - Financial Strength: MGC Pharmaceuticals Ltd
Wright Quality Rating L CNN
Financial Strength Rating L CNN
Total Shareholders' Equity (Millions of U.S. Dollars) 12
Total Shareholders' Equity as % Total Capital 102.8%
Preferred Stock as % of Total Capital 0.0%
Long Term Debt as % of Total Capital 0.0%
Long Term Debt (Millions of Australian Dollars) 0
Lease Obligations (Millions of Australian Dollars) 0
Long Term Debt including Leases (Millions of Australian Dollars) 0
Total Debt as % of Total Capital 0.0%
Fixed Charge Coverage Ratio: Pretax Income to Interest Expense & Preferred
-352.6
Dividends
Fixed Charge Coverage Ratio: Pretax Income to Net Interest Income & Preferred
-352.6
Dividends
Quick Ratio (Cash & Receivables / Current Liabilities) 2.4
Current Ratio (Current Assets / Current Liabilities) 2.5
Wright Quality Rating Analyses\Profitability & Stability
Wright Quality Rating - Profitability & Stability: MGC Pharmaceuticals Ltd
Wright Quality Rating LC NN
Profitability & Stability Rating LC NN
Profit Rate of Earnings on Equity Capital - Time-Weighted Normal -99.0%
- Basic Trend 4.0%
Cash Earnings Return on Equity - Time-Weighted Average -23.8%
- Basic Trend -4.0%
Cash Earnings Return on Equity - Stability Index 32.4%
Return On Assets (Time-Weighted Average) -45.0%
Pre-Tax Income as % of Total Assets (Time-Weighted Average) -22.9%
Operating Income as % of Total Assets (Time-Weighted Average) -22.4%
Operating Income as % of Total Capital (Adjusted Rate) -57.7%
Pre-Tax Income as % of Total Assets (Time-Weighted Average) -22.9%
Operating Income as % of Total Assets (Time-Weighted Average) -22.4%
Operating Income as % of Total Capital (Adjusted Rate) -57.7%
Wright Quality Rating Analyses\Corporate Growth
Wright Quality Rating - Corporate Growth: MGC Pharmaceuticals Ltd
Figures are expressed on a Per Share Basis.

Wright Quality Rating LCN N

Growth Rating LCN N
Normal Earnings Growth 0.0%
Cash Earnings Growth -2.8%
Cash Earnings Stability Index 0.1%
Earned Equity Growth -99.0%
Dividend Growth 0.0%
Operating Income Growth 0.0%
Assets Growth -19.3%
Sales/Revenues Growth 5.9%
Industry OverviewIndustry Overview\Wright Industry Averages - Overview
Wright Industry Averages Reports
Introduction

The following pages are comprised of seven reports which contain averages for the companies in the
Pharmaceuticals & Biotechnology (Global) sector. The primary source of the data contained in these reports is
the Worldscope Database. The averages reports are compiled from the fundamental data compiled on the
companies which make up this industry.

Industry Averages - Report Types

Sales Analysis
Income Statement
Balance Sheet
Sources of Capital
Leverage Analysis Ratios
Per Share Data Ratios
Profitability Analysis Ratios

The Wright Industry Averages Reports are compiled on a fiscal year basis. Companies ending their fiscal year
in January are grouped with the prior years reports. The values for 2012 for example are contributed by
those companies that ended their fiscal year after 31 January 2012 and prior to 1 February 2013. The values
shown for all reports are presented in U.S. dollars.

Data Compilation Steps

All companies in the industry with more than $1 million (U.S.) in net sales were included. Currency items in
the financial statements were converted to U.S. dollars using an average exchange rate for each fiscal year. A
sum (aggregate value) was computed for all financial statement items by totaling the values reported by each
company in the industry sector. Industry Average report values were computed by dividing the aggregate
value by the number of companies reporting.

Per share ratios were computed by using in the numerator a specific value that represents the aggregate sum
for all companies in the industry divided by the aggregate value of the average number of appropriate
common shares for each company.

Most companies in the industry reported Operating Income along with the major components that go into the
calculation of Operating Income. For the minority of companies that did not report all underlying cost
components those components were derived, where possible, utilizing the reported items. For example, if
Cost of Goods Sold was not reported it was derived on a company-specific basis from the other reported
items (i.e. Sales, Gross Income and Depreciation, Depletion & Amortization). The derived value was then
included in the calculation of the industry average.
Industry Financial Statement AnalysesIndustry Financial Statement Analyses\Summary Analysis
Summary Analysis: Pharmaceuticals & Biotechnology Industry Averages
(Global)
Figures are expressed on a Per Share Basis in U.S. Dollars.
Fiscal Year 2016 2015 2014 2013 2012 2011
Market Prices

High 11.51 13.13 11.50 11.22 8.19 7.64

Low 7.52 8.26 7.75 7.58 5.92 5.31
Average 9.51 10.69 9.62 9.40 7.06 6.47
Last 9.20 10.85 10.26 10.40 7.46 6.79
Value Ratios

High Price / Earnings 34.1 32.5 31.1 30.8 21.5 18.3

Low Price / Earnings 22.3 20.5 20.9 20.8 15.6 12.7
Average Price / Earnings 28.2 26.5 26.0 25.8 18.6 15.5
Last Price / Earnings 27.3 26.9 27.7 28.5 19.6 16.3
Average Price / Book Value 3.7 4.1 3.8 3.7 2.7 2.4
Last Price / Book Value 3.6 4.1 4.1 4.0 2.9 2.5
Dividends / Average Price (Dividend Yield) 2.2% 1.9% 2.1% 2.2% 2.9% 3.0%
Dividends / Last Price (Dividend Yield) 2.2% 1.9% 2.0% 2.0% 2.8% 2.8%
Common Equity

Earned Equity Growth 5.3% 8.4% 6.5% 6.3% 6.6% 8.2%

Return on Equity 13.6% 17.0% 14.5% 15.6% 15.0% 15.2%
Book Value 2.58 2.62 2.53 2.57 2.57 2.67
Common Shares (in millions)
Common Shares Outstanding 411.4 388.9 370.5 368.4 359.8 353.5
Common Shares Used to Compute EPS 411.4 388.9 370.5 368.4 359.8 353.5
Common Stock Earnings
Earnings per Share 0.34 0.40 0.37 0.36 0.38 0.42
Percent Change -16.5% 9.1% 1.5% -4.1% -8.9% 9.4%
Income Tax Rate 21.9% 20.3% 22.6% 20.4% 22.3% 22.1%
Common Stock Dividends
Dividends per Share 0.21 0.20 0.20 0.21 0.21 0.19
Percent Change 2.1% -0.9% -1.5% 0.3% 8.0% -0.4%
 Total Common Dividends (in millions of US$) 84.8 78.5 75.5 76.2 74.2 67.5
Dividends / Earnings (% Payout) 61.1% 50.0% 55.1% 56.7% 54.3% 45.8%
Capital Expenditure (in millions of US$) 54.6 50.8 45.9 48.8 48.3 46.0
Sales

Sales (in millions of US$) 1,053.2 988.0 960.5 995.0 1,021.5 1,034.3
Percent Change 6.6% 2.9% -3.5% -2.6% -1.2% -1.2%
Sales per Share 2.56 2.54 2.59 2.70 2.84 2.93
Percent Change 0.8% -2.0% -4.0% -4.9% -3.0% 2.1%
Industry Financial Statement Analyses\Sales Analysis
Sales Analysis: Pharmaceuticals & Biotechnology Industry Averages
(Global)
Figures are expressed in thousands of U.S. Dollars. Values per Employee are in U.S. Dollars.
Fiscal Year 2016 2015 2014 2013 2012 2011
Sales 1,053,163 988,020 960,513 995,027 1,021,537 1,034,253
Percent Change 6.6% 2.9% -3.5% -2.6% -1.2% -1.2%
Cost of Goods Sold 326,453 299,821 288,902 300,282 306,882 306,160
Percent of Sales 31.0% 30.3% 30.1% 30.2% 30.0% 29.6%
Earnings before Interest, Taxes,
263,805 269,979 264,208 260,918 267,701 277,549
Depreciation & Amortization (EBITDA)
Percent of Sales 25.0% 27.3% 27.5% 26.2% 26.2% 26.8%
Net Income after Preferred Dividends -
138,753 156,997 137,044 134,243 136,772 147,503
available to Common
Percent of Sales 13.2% 15.9% 14.3% 13.5% 13.4% 14.3%
Employees 4,547 4,093 3,821 3,821 3,440 3,294
Sales per Employee 231,611 241,420 251,368 260,403 296,927 313,969
Net Income per Employee 30,515 38,362 35,865 35,132 39,755 44,778
Industry Financial Statement Analyses\Income Statement
Income Statement - (Actual Values): Pharmaceuticals & Biotechnology
Industry Averages (Global)
All figures in millions of U.S. Dollars.
Fiscal Year 2016 2015 2014 2013 2012 2011
Net Sales or Revenues 1,053.2 988.0 960.5 995.0 1,021.5 1,034.3

Cost of Goods Sold 326.5 299.8 288.9 300.3 306.9 306.2

Depreciation, Depletion & Amortization 82.7 77.8 70.8 77.9 74.6 76.7
Other Costs -1.1 -0.6 -0.3 -4.6 0.5 -0.2
Gross Income 645.1 611.0 601.2 621.5 639.6 651.6
Selling, General & Administrative Expenses 419.8 402.3 397.2 413.3 417.8 426.1
Other Operating Expenses 10.2 12.6 5.9 11.5 7.6 4.6
Operating Expenses - Total 839.1 792.6 762.9 802.9 806.9 813.6
Operating Income 215.1 196.1 198.0 196.7 214.1 220.8
Extraordinary Credit - Pretax 4.6 8.9 10.2 6.2 5.1 3.5
Extraordinary Charge - Pretax 61.8 48.4 43.1 43.8 47.8 50.2
Non-Operating Interest Income 4.0 3.7 3.6 3.5 3.6 4.3
Reserves - Increase/Decrease 0.0 0.0 0.0 -0.0 -0.0 -0.1
Pretax Equity in Earnings 1.0 4.7 2.1 1.0 0.2 0.2
Other Income/Expense - Net -19.1 -30.8 -25.8 -24.9 -18.0 -27.9
Earnings before Interest, Taxes, Depreciation &
263.8 270.0 264.2 260.9 267.7 277.5
Amortization (EBITDA)
Earnings before Interest & Taxes(EBIT) 182.4 194.1 195.0 188.2 193.1 202.6
Interest Expense on Debt 24.9 21.0 19.0 19.4 18.1 17.8
Interest Capitalized 0.4 0.4 0.4 0.4 0.3 0.3
Pretax Income 157.5 175.4 178.1 169.6 175.6 189.1
Income Taxes 34.6 35.6 40.3 34.6 39.2 41.7
Minority Interest 1.9 1.3 1.4 1.7 2.0 3.8
Equity in Earnings 0.8 0.4 0.5 0.8 2.3 4.1
After Tax Other Income/Expense -0.0 -0.0 -0.1 0.1 0.1 -0.0
Discontinued Operations 17.6 18.5 0.2 0.4 0.2 0.1
Net Income before Extraordinary Items/Preferred
139.4 157.4 137.1 134.4 137.0 147.7
Dividends
Extraordinary Items & Gain/Loss Sale of Assets -0.2 2.2 0.7 9.8 5.1 1.6
Preferred Dividend Requirements 0.6 0.4 0.1 0.2 0.3 0.2
Net Income after Preferred Dividends - available to
138.8 157.0 137.0 134.2 136.8 147.5
Common
Industry Financial Statement Analyses\Balance Sheet
Balance Sheet - (Actual Values): Pharmaceuticals & Biotechnology Industry
Averages (Global)
All figures in millions of U.S. Dollars.
Fiscal Year 2016 2015 2014 2013 2012 2011
Assets

Total Assets 2,433.1 2,230.5 1,959.6 1,912.1 1,919.6 1,898.8

Cash & Short Term Investments 382.1 336.6 342.1 319.2 311.8 317.7
Cash 222.2 194.0 200.0 183.3 180.7 183.4
Short Term Investments 159.9 142.6 142.1 135.9 131.1 134.3
Receivables (Net) 246.4 225.2 221.5 223.4 231.8 244.0
Inventories -Total 168.3 158.1 146.9 149.5 149.7 142.5
Raw Materials 40.4 38.6 36.7 38.2 36.2 34.8
Work in Process 62.7 56.8 51.0 51.8 43.0 42.1
Finished Goods 72.1 72.1 67.9 70.0 73.5 70.0
Progress Payments & Other -6.9 -9.4 -8.6 -10.5 -3.0 -4.3
Prepaid Expenses 12.7 9.1 5.6 7.3 7.0 6.8
Other Current Assets 47.9 47.4 65.9 67.5 55.8 60.1
Current Assets - Total 857.0 775.9 781.6 766.6 755.6 770.5
Long Term Receivables 8.5 8.0 5.6 7.7 6.3 4.6
Investment in Associated Companies 40.4 41.1 24.9 23.0 27.2 25.8
Other Investments 91.0 90.0 85.4 86.1 74.2 58.0
Property Plant and Equipment - Gross 608.5 573.4 571.7 590.2 600.3 593.7
Accumulated Depreciation 296.4 284.0 287.6 294.2 302.5 295.6
Property Plant and Equipment Net 313.8 290.5 285.2 296.2 298.5 298.3
Other Assets 1,121.7 1,024.2 776.1 731.8 756.5 736.8
Deferred Charges 5.4 5.0 5.4 5.0 7.7 8.4
Tangible Other Assets 44.3 52.6 29.8 34.2 24.6 19.2
Intangible Other Assets 1,072.1 966.4 740.3 694.4 725.2 709.8
Total Assets 2,433.1 2,230.5 1,959.6 1,912.1 1,919.6 1,898.8
Liabilities & Shareholders' Equity

Total Liabilities & Shareholders' Equity 2,433.1 2,230.5 1,959.6 1,912.1 1,919.6 1,898.8
Accounts Payable 94.0 90.9 92.3 87.8 84.9 83.9
Short Term Debt & Current Portion of Long Term
115.0 110.2 95.5 90.1 95.9 87.1
Debt
Accrued Payroll 34.8 33.2 32.1 32.3 21.2 22.3
Income Taxes Payable 22.7 22.2 21.7 23.1 23.5 24.9
Dividends Payable 7.6 7.1 6.7 5.4 5.2 5.7
Other Current Liabilities 212.4 195.8 172.9 170.6 179.1 183.2
Current Liabilities - Total 486.4 459.4 421.1 409.3 409.7 407.2
Long Term Debt 586.8 490.1 381.5 346.4 352.0 328.6
Long Term Debt Excluding Capitalized Leases 530.6 448.3 349.0 312.0 312.4 287.6
Capitalized Lease Obligations 56.2 41.7 32.4 34.4 39.6 41.0
Provision for Risks and Charges 87.5 85.1 96.5 81.3 112.7 110.2
Deferred Income 6.9 7.2 5.7 3.9 7.7 5.0
Deferred Taxes 60.1 48.6 31.3 37.3 32.5 28.5
Deferred Tax Liability in Untaxed Reserves 0.0 0.0 0.0
Other Liabilities 105.3 89.5 70.5 66.7 59.2 57.0
Total Liabilities 1,332.9 1,179.8 1,006.7 945.0 974.0 936.5
Non-Equity Reserves 0.6 0.5 0.5 1.1 0.8 0.8
Minority Interest 26.7 21.3 13.1 15.9 15.5 14.9
Preferred Stock 10.3 10.1 1.8 2.1 3.7 3.3
Preferred Stock Issued for ESOP 0.0 0.0 0.0
ESOP Guarantees - Preferred Issued 0.0 -0.0 0.0
Common Equity 1,062.8 1,018.8 937.4 948.0 925.6 943.6
Total Liabilities & Shareholders' Equity 2,433.1 2,230.5 1,959.6 1,912.1 1,919.6 1,898.8
Industry Financial Statement Analyses\Sources of Capital
Sources of Capital: Pharmaceuticals & Biotechnology Industry Averages
(Global)
Currency figures are in millions of U.S. Dollars.
Year to year % changes pertain to reported Balance Sheet values.
Fiscal Year 2016 2015 2014 2013 2012 2011
Actual Values
Total Capital 1,687.1 1,540.7 1,334.3 1,313.5 1,297.6 1,291.2

Long Term Debt 586.8 490.1 381.5 346.4 352.0 328.6

Minority Interest 26.7 21.3 13.1 15.9 15.5 14.9
Preferred Stock 10.3 10.1 1.8 2.1 3.7 3.3
Common Equity 1,062.8 1,018.8 937.4 948.0 925.6 943.6
Percent of Total Capital

Long Term Debt 34.8% 31.8% 28.6% 26.4% 27.1% 25.5%

Minority Interest 1.6% 1.4% 1.0% 1.2% 1.2% 1.2%
Preferred Stock 0.6% 0.7% 0.1% 0.2% 0.3% 0.3%
Common Equity 63.0% 66.1% 70.3% 72.2% 71.3% 73.1%
Total Capital 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Year to Year Net Changes (in millions of U.S.
Dollars)

Long Term Debt 96.7 108.6 35.0 -5.6 23.4 8.3

Minority Interest 5.4 8.1 -2.8 0.4 0.6 -8.7
Preferred Stock 0.1 8.4 -0.3 -1.6 0.4 0.9
Common Equity 44.0 81.4 -10.5 22.4 -18.0 -34.4
Total Capital 146.4 206.4 20.8 15.9 6.5 -34.1
Year to Year Percent Changes
Long Term Debt 19.7% 28.5% 10.1% -1.6% 7.1% 2.6%
Minority Interest 25.5% 62.0% -17.4% 2.4% 4.2% -36.8%
Preferred Stock 1.2% 466.2% -15.9% -42.3% 12.3% 37.9%
Common Equity 4.3% 8.7% -1.1% 2.4% -1.9% -3.5%
Total Capital 9.5% 15.5% 1.6% 1.2% 0.5% -2.6%
Total Liabilities & Common Equity
Total Liabilities 1,332.9 1,179.8 1,006.7 945.0 974.0 936.5
Net Change in Liabilities as
11.5% 14.7% 6.1% -3.1% 3.9% 1.8%
% of Total Liabilities
Common Equity 1,062.8 1,018.8 937.4 948.0 925.6 943.6
Net Change in Common Equity as
4.1% 8.0% -1.1% 2.4% -1.9% -3.6%
% of Common Equity
Cash Flow
Operating Activities 216.8 206.5 200.7 203.4 207.3 215.0
Financing Activities -40.1 18.1 -51.9 -92.1 -78.9 -97.7
Investing Activities 157.3 207.8 132.0 97.1 134.8 92.1
Industry Financial Ratio AnalysesIndustry Financial Ratio Analyses\Leverage Analysis
Leverage Analysis: Pharmaceuticals & Biotechnology Industry Averages
(Global)
Fiscal Year 2016 2015 2014 2013 2012 2011
Long Term Debt % of EBIT 321.7% 252.4% 195.7% 184.1% 182.3% 162.2%
Long Term Debt % of EBITDA 222.4% 181.5% 144.4% 132.8% 131.5% 118.4%
Long Term Debt % of Total Assets 24.1% 22.0% 19.5% 18.1% 18.3% 17.3%
Long Term Debt % of Total Capital 34.8% 31.8% 28.6% 26.4% 27.1% 25.5%
Long Term Debt % of Com Equity 55.2% 48.1% 40.7% 36.5% 38.0% 34.8%
Total Debt % of EBIT 384.8% 309.2% 244.7% 231.9% 232.0% 205.2%
Total Debt % of EBITDA 266.0% 222.3% 180.5% 167.3% 167.3% 149.8%
Total Debt % of Total Assets 28.8% 26.9% 24.3% 22.8% 23.3% 21.9%
Total Debt % of Total Capital 41.6% 39.0% 35.7% 33.2% 34.5% 32.2%
Total Debt % of Total Capital & Short Term Debt 41.6% 39.0% 35.7% 33.2% 34.5% 32.2%
Total Debt % of Common Equity 66.0% 58.9% 50.9% 46.0% 48.4% 44.1%
Minority Interest % of EBIT 14.6% 10.9% 6.7% 8.4% 8.0% 7.3%
Minority Interest % of EBITDA 10.1% 7.9% 5.0% 6.1% 5.8% 5.4%
Minority Interest % of Total Assets 1.1% 1.0% 0.7% 0.8% 0.8% 0.8%
Minority Interest % of Total Capital 1.6% 1.4% 1.0% 1.2% 1.2% 1.2%
Minority Interest % of Com Equity 2.5% 2.1% 1.4% 1.7% 1.7% 1.6%
Preferred Stock % of EBIT 5.6% 5.2% 0.9% 1.1% 1.9% 1.6%
Preferred Stock % of EDITDA 3.9% 3.8% 0.7% 0.8% 1.4% 1.2%
Preferred Stock % of Total Assets 0.4% 0.5% 0.1% 0.1% 0.2% 0.2%
Preferred Stock % of Total Capital 0.6% 0.7% 0.1% 0.2% 0.3% 0.3%
Preferred Stock % of Total Equity 1.0% 1.0% 0.2% 0.2% 0.4% 0.3%
Common Equity % of Total Assets 43.7% 45.7% 47.8% 49.6% 48.2% 49.7%
Common Equity % of Total Capital 63.0% 66.1% 70.3% 72.2% 71.3% 73.1%
Total Capital % of Total Assets 69.3% 69.1% 68.1% 68.7% 67.6% 68.0%
Capital Expenditure % of Sales 5.2% 5.1% 4.8% 4.9% 4.7% 4.4%
Fixed Assets % of Common Equity 29.5% 28.5% 30.4% 31.2% 32.2% 31.6%
Working Capital % of Total Capital 22.0% 20.5% 27.0% 27.2% 26.7% 28.1%
Dividend Payout 61.1% 50.0% 55.1% 56.7% 54.3% 45.8%
Funds From Operations % of Total Debt 33.0% 35.7% 43.3% 50.6% 51.8% 54.5%
Industry Financial Ratio Analyses\Per-Share Data
Per Share Data: Pharmaceuticals & Biotechnology Industry Averages
(Global)
Figures are expressed as per unit of respective shares.
Figures are in U.S. Dollars.
Fiscal Year 2016 2015 2014 2013 2012 2011
Sales 2.56 2.54 2.59 2.70 2.84 2.93
Operating Income 0.52 0.50 0.53 0.53 0.60 0.62
Pre-tax Income 0.38 0.45 0.48 0.46 0.49 0.53
Net Income (Continuing Operations) 0.36 0.39 0.39 0.41 0.44 0.44
Net Income Before Extra Items 0.34 0.40 0.37 0.36 0.38 0.42
Extraordinary Items 0.00 -0.00 -0.00 0.00 0.00 0.00
Net Income After Extraordinary Items 0.34 0.41 0.37 0.39 0.40 0.42
Net Income Available to Common Shares 0.34 0.40 0.37 0.36 0.38 0.42
Fully Diluted Earnings 0.34 0.40 0.37 0.36 0.38 0.47
Common Dividends 0.21 0.20 0.20 0.21 0.21 0.19
Cash Earnings 0.56 0.55 0.56 0.60 0.65 0.64
Book Value 2.58 2.62 2.53 2.57 2.57 2.67
Retained Earnings 1.63 1.63 1.62 1.66 1.57 1.54
Assets 5.91 5.74 5.29 5.19 5.34 5.37
Industry Financial Ratio Analyses\Profitability Analysis
Profitability Analysis: Pharmaceuticals & Biotechnology Industry Averages
(Global)
Currency figures are in U.S. Dollars.
Fiscal Year 2016 2015 2014 2013 2012 2011
Gross Income Margin 61.3% 61.8% 62.6% 62.5% 62.6% 63.0%
Operating Income Margin 20.4% 19.8% 20.6% 19.8% 21.0% 21.4%
Pretax Income Margin 15.0% 17.8% 18.5% 17.0% 17.2% 18.3%
EBIT Margin 17.3% 19.6% 20.3% 18.9% 18.9% 19.6%
Net Income Margin 13.2% 16.2% 14.3% 14.5% 13.9% 14.4%
Return on Equity - Total 13.6% 17.0% 14.5% 15.6% 15.0% 15.2%
Return on Invested Capital 9.0% 11.9% 10.5% 11.1% 11.0% 11.3%
Return on Assets 6.2% 8.1% 7.2% 7.5% 7.5% 7.7%
Asset Turnover 0.4 0.4 0.5 0.5 0.5 0.5
Financial Leverage 66.0% 58.9% 50.9% 46.0% 48.4% 44.1%
Interest Expense on Debt 24,940,920 20,951,877 18,955,346 19,416,949 18,089,743 17,770,465
Effective Tax Rate 21.9% 20.3% 22.6% 20.4% 22.3% 22.1%
Cash Flow % Sales 22.0% 21.7% 21.5% 22.2% 22.7% 21.9%
Selling, General &
Administrative Expenses % 39.9% 40.7% 41.4% 41.5% 40.9% 41.2%
of Sales
Research & Development
13.9% 13.9% 13.5% 13.2% 13.0% 13.0%
Expense % of Sales
Operating Income Return
9.5% 15.5% 1.6% 1.2% 0.5% -2.6%
On Total Capital
Wright Quality Rating OverviewWright Quality Rating Overview\Explanation of Wright Quality Rating

Wright Quality Rating

Since 1970, Wright Investors' Service has rated all of the companies in its database (when there is
sufficient information available). The Wright Quality Rating, measures the overall investment quality
of a company.

Wright Quality Ratings are based on numerous individual measures of quality, grouped into four
principal components: (1) Investment Acceptance (i.e. stock liquidity), (2) Financial Strength, (3)
Profitability & Stability, and (4) Growth. The ratings are based on established principles using 5-6
years of corporate record and other investment data.

The ratings consist of three letters and a number. Each letter reflects a composite qualitative
measurement of numerous individual standards which may be summarized as follows:

A = Outstanding; B = Excellent; C = Good; D = Fair; L = Limited; N = Not Rated.

The number component of the Quality Rating is also a composite measurement of the annual
corporate growth, based on earnings and modified by growth rates of equity, dividends, and sales
per common share. The Growth rating may vary from 0 (lowest) to 20 (highest). (See sample Quality
Rating below.)

Example:
Wright Quality Rating: BAC8
Investment Acceptance B Excellent
Financial Strength A Outstanding
Profitability & Stability C Good
Growth 8

The highest quality rating assigned by Wright is AAA20. This rating would be assigned to a
company that has a large and broad base of shareholders, an outstanding balance sheet and strong
and stable profitability. The company would also have experienced superior growth over the past
several years.

The Wright Quality Rating assigned to a company also takes into consideration country and industry
variations. If there is not sufficient information available, the quality rating will not be assigned or an
N (not-rated) will be applied for that particular quality criteria.

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