Mabion Sa · GPW:MAB
Mabion Sa — Q3 2025 Earnings Presentation
24 slides from Mabion Sa's earnings presentation, Dec 2, 2025
Slide 1: Presentation of financial results Q3 2025
Presentation of financial results Q3 2025 2 December 2025
Slide 2: Management Board of Mabion
Presentation of financial results for Q3 2025 Management Board of Mabion Gregor Kawaletz Detlef Behrens Joaquín Santos Benito Chief Executive Officer Chief Business Affairs Officer Chief Transformation Officer Areas of responsibility: Areas of responsibility: Areas of responsibility: Designing and e
Slide 3: Agenda
Presentation of financial results for Q3 2025 Agenda Executive Summary Strategy 2025–2030 Financial results for Q3 2025 02.12.2025 3
Slide 4: Executive Summary
Presentation of financial results for Q3 2025 Executive Summary Selected key events in 3Q 2025 and up to the publication date of the report Finance Revenues in Q3 2025 generated mainly under services provided to Novavax and other CDMO projects Revenue Cash High cost discipline at every level – in te
Slide 5: Strategy 2025–2030
Strategy 2025–2030
Slide 6: Mabion's equity story – from solid foundations to leadership and excellence
Mabion’s Strategy for 2025–2030 Mabion’s equity story – from solid foundations to leadership and excellence Standing out in the crowded CDMO market through realization of a strategy We are reshaping our business model to meet the post- COVID environment and unlock new avenues for growth To stand out
Slide 7: Mabion is capturing the growing CDMO market and aligns with the new trends
Mabion’s Strategy for 2025–2030 Mabion is capturing the growing CDMO market and aligns with the new trends Targeted areas are the most attractive project segments for Mabion and might be strengthened by strategic partnerships or co-development Key trend on market is a progressing shift from pure CDM
Slide 8: Mabion today – our starting point to deliver world-class CDMO offer
Mabion’s Strategy for 2025–2030 Mabion today – our starting point to deliver world-class CDMO offer Several foundations and assets highly desired by market are already in place and ready to be enhanced by new Strategy State-of-the-Art Capabilities Highly Skilled Team and Competitive Cost Scientific
Slide 9: Strategic Pillars (2025-2030): Unlocking the full potential of Mabion
Mabion’s Strategy for 2025–2030 Strategic Pillars (2025-2030): Unlocking the full potential of Mabion Development of our three strategic Pillars is designed to deliver integrated and value-added solutions 01 02 03 Pillar 1: Pillar 2: Pillar 3: Technological Operational Excellence Talent, Culture Dev
Slide 10: Our focus areas and project diversification to drive sustainable CDMO growth
Mabion’s Strategy for 2025–2030 Our focus areas and project diversification to drive sustainable CDMO growth Go-to-market approach ensures agility – matching Mabion’s capabilities with high-potential biotech demand Dimension Project Offering Activity Characteristics Niche products CDMO Strategic Bio
Slide 11: Mabion 2030 strategic targets
Mabion’s Strategy for 2025–2030 Mabion 2030 strategic targets Delivering measurable value across financial, operational and customer service KPIs to attract new clients and projects as recognizable CDMO in Europe KPI 2026 and reference periods 2030 Reference period 2021–2025 Financial Total revenue
Slide 12: New management onboarded, activities set in motion to accelerate Mabion
Mabion’s Strategy for 2025–2030 New management onboarded, activities set in motion to accelerate Mabion Visible accomplishments and short-term milestones ahead Already delivered: Signature of a loan agreement with the main shareholder for up to PLN 18 milion Business and networking contribution from
Slide 13: Financial results for Q3 2025
Financial results for Q3 2025
Slide 14: P&L statement
Presentation of financial results for Q3 2025 P&L statement Growing revenues in each quarter of this year, but not yet sufficient to cover current operating costs PLN m 3Q’22 4Q’22 1Q’23 2Q’23 3Q’23 4Q’23 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 Total income 38,5 42,9 39,5 36,0 29,6 46,5 34,0 29,8
Slide 15: Balance sheet
Presentation of financial results for Q3 2025 Balance sheet Cash position of PLN 4.6 million, requires strengthening through the acquisition of financing PLN m 3Q2022 4Q2022 1Q2023 2Q2023 3Q2023 4Q2023 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 The level of fixed assets is related to the moder
Slide 16: Operating cash flow after 9M'25
Presentation of financial results for Q3 2025 Operating cash flow after 9M’25 In 9M’25, the Company primarily used cash to finance ongoing operating activities, with capital expenditures at a marginal level Mabion’s financial cash flows for 3Q’25 PLN m 38,4 Operating cash flow 9M’25: PLN -32.2 milli
Slide 17: Business Development activities create potential for future growth
Presentation of financial results for Q3 2025 Business Development activities create potential for future growth Concluding further orders and CDMO contracts will enable Mabion to diversify its revenues. The current value of all offers under consideration, as at the date of 30 November 2025 is USD 2
Slide 18: Project pipeline and revenue estimation
Presentation of financial results for Q3 2025 PROJECT PIPELINE AND REVENUE ESTIMATION Key strategy elements over the next years (2026-2030) 2026 2027 2028 Revenues Potential for Potential for >25 EURm in annual ~15-20 EURm in annual ~20-25 EURm in annual revenue revenue revenue EBITDA margin >0% <35
Slide 19: Disclaimer
Disclaimer This document ("Document") has been drawn up by Mabion S.A.. The information contained in the Liability for investment decisions and possible losses incurred as a result of them shall be borne Document has been collected and prepared with due diligence, based on facts and information sole
Slide 20: Appendix
NABION Appendix
Slide 21: New contracts are beginning to contribute to the P&L
Presentation of financial results for Q3 2025 New contracts are beginning to contribute to the P&L In 3Q 2025, Mabion’s main contribution to revenues came from the execution of services for Novavax as well as other CDMO projects Revenue PLN m 6,3 25,0 5,1 0,2 Revenues in 3Q 2025 amounted to PLN 4.1
Slide 22: Key profitability figures affected by reduced revenues from CDMO service delivery
Presentation of financial results for Q3 2025 Key profitability figures affected by reduced revenues from CDMO service delivery A reduced scope of CDMO services provided combined with maintained cost discipline EBITDA Net Income PLN m adjusted PLN m result 22,6 adjusted +12,2 result 10,9 26,4 19,8 1
Slide 23: Strong cost discipline across all possible lines
Presentation of financial results for Q3 2025 Strong cost discipline across all possible lines Maintaining cost control despite a challenging environment 30,0 In the cost-by-type, cost discipline is evident. OPEX in 3Q’25 Classification of costs by type PLN m was 14% lower q/q due to reductions acro
Slide 24: Thank you
Thank you INVESTOR RELATIONS SCIENTIFIC AND INDUSTRIAL COMPLEX OF RESEARCH AND DEVELOPMENT CENTER MEDICAL BIOTECHNOLOGY FOR BIOTECHNOLOGICAL MEDICINAL PRODUCTS Piotr Owdziej, cc group ul. gen. Mariana Langiewicza 60 ul. Fabryczna 17 piotr.owdziej@ccgroup.pl 95-050 Konstantynów Łódzki, Polska 90-344