Slide 1: Full Year 2023 Results
Full Year 2023 Results Matthias Gaertner, CEO Falk Neukirch, CFO March 27, 2024
Slide 2: Agenda
1. Executive summary 2. Financial overview 3. Guidance 2024, growth story 4. Appendix 2
Slide 3: Highlights FY 2023 until today
Executive summary Highlights FY 2023 until today • Strong Pharmaceutical Supply (PS) business benefiting from destocking at higher prices; Patient- Specific Therapies (PST) impacted by regulatory headwinds Operations • Increasing diversification • Successful acquisition of bbw1: integration of compo
Slide 4: Ceban: Transformative and value enhancing acquisition
Executive summary - Events after the consolidated balance sheet date Ceban: Transformative and value enhancing acquisition • First step in Medios internationalization Internationalization • Immediate market entry into three European countries: NL, BE, ES • A leading position in compounding in Northw
Slide 5: Snapshot Ceban Pharmaceuticals
Executive summary - Events after the consolidated balance sheet date Snapshot Ceban Pharmaceuticals Ceban Pharmaceuticals • Leading full-service compounding services platform • Diversified business model covering the full compounding value chain: Founded Headquarters Employees · Compounding Services
Slide 6: YoY & QoQ – Excellent revenue and EBITDA pre growth
Executive summary YoY & QoQ – Excellent revenue and EBITDA pre growth Revenue (€m) EBITDA pre¹ €m 490 17.2 441 15.3 15.0 419 431 422 14.3 14.1 14.3 14.1 393 399 399 354 369 316 319 11.1 10.0 10.2 9.5 8.8 2.7 3.0 3.6 3.6 3.6 3.6 3.4 3.4 3.5 3.3 3.5 3.2 3.0 3.0 2.8 2.8 2.8 2.8 2.8 2.8 Q1 Q2 Q3 Q4 Q1 Q
Slide 7: Continuous and sustainable growth YoY
Executive summary Continuous and sustainable growth YoY Revenue in €m EBITDA pre¹ in €m 10.8% 10.3% 1,785 1,611 60.5 54.9 FY 2022 FY 2023 FY 2022 FY 2023 ¹ EBITDA pre is adjusted for special charges for stock options and expenses for M&A activities as well as from 2023 additionally for one-time perf
Slide 8: Excellent geographic coverage through a market leading German and strong European network
Executive summary Excellent geographic coverage through a market leading German and strong European network With the acquisition of Hamburg Ceban*, Medios will have a leading position in Osnabrück Berlin (HQ) Specialty Pharma compounding Bonn in Europe Aschaffenburg Mannheim Saarlouis Magstadt Germa
Slide 9: ESG progress in 2023
Executive Summary ESG progress in 2023 Proportion of women 58% in workforce 0.2% - 41%* yoy 46% Customer Emissions from our own vehicle fleet and in management complaint rate from purchased energy (Scope 1 & 2) Scope 3 +37% yoy Due to increased -9% yoy 41% traveling Energy consumption Share of green
Slide 10: Agenda
1. Executive summary 2. Financial overview 3. Guidance 2024, growth story 4. Appendix 10
Slide 11: FY 2023 – Financials
Financial overview FY 2023 – Financials In € million FY 2023 FY 2022 ∆ in % Comments Revenue 1,784.7 1,610.8 10.8% • Record revenue driven by PS segment Gross profit1 112.0 108.9 2.8% • Gross profit increased by 2.8% but lower margin due to gross margin in % 6.3% 6.8% -7.4% higher portion of PS-segm
Slide 12: FY 2023 – Strong PS business; PST impacted by regulatory effects
Financial overview FY 2023 – Strong PS business; PST impacted by regulatory effects Pharmaceutical Patient-specific Internal Services IFRS consolidation Group Supply ‘PS‘ Therapies ‘PST’ FY YoY in € million FY 23 FY 22 FY 23 FY 22 FY 23 FY 22 FY 23 FY 22 FY 23 FY 22 Total segment revenue 1,696.3 1,4
Slide 13: Debt financing and repayment
Financial overview Debt financing and repayment Repayment credit facility / new debt Financing of Ceban acquisition and €m available funds 250 • Bridge loan of 200m€ to be replaced by €200m syndicate loan or bond by end of 2024 200 • expected positive annual free cash flow after interest payments (c
Slide 14: Agenda
1. Executive summary 2. Financial overview 3. Guidance 2024, growth story 4. Appendix 14
Slide 15: New Group: Significant revenue & EBITDA pre increase expected
Guidance 2024, mid-term outlook 2025 Guidance 2024 & growth story 2.15 New Group: Significant revenue & Revenue (€bn) + ~7.5% EBITDA pre* increase expected 1.90 - 2.10 + ~11.1% Guidance FY2023 met ~1.80 Guidance FY 2024 based on: • Ceban expected to be fully consolidated as of May 2024 • EBITDA pre*
Slide 16: Clear strategy to build the leading European Specialty Pharma Platform
Guidance 2024, growth story Clear strategy to build the leading European Specialty Pharma Platform Continue evolving our Specialty Pharma business in Germany Building the leading Target for 2025 Expand compounding within European ~ €2.15bn Revenue Europe to gain continued growth, Specialty while inc
Slide 17: Agenda
1. Executive summary 2. Financial overview 3. Guidance 2024, growth story 4. Appendix 17
Slide 18: Ceban operates synergistic positions across the compounding value chain
Ceban – Deep dive Ceban operates synergistic positions across the compounding value chain Compounding Services API Services Pharmacies • Tailor-made medication • Sourcing, repacking and • 23 owned pharmacies across compounded at GMP-compliant distributing APIs and excipients the Netherlands under th
Slide 19: FY 2023 – Ongoing organic and inorganic revenue growth
Financial overview FY 2023 – Ongoing organic and inorganic revenue growth FY YoY revenue in €m FY 22 Organic Inorganic FY 23 Comments Pharmaceutical Supply (PS) 1,390.3 124.5 43.4 1,558.1 • bbw acquisition led to revenue contribution of €48.1m mainly in PS segment à €43.4m in PS; Patient-Specific Th
Slide 20: FY 2023 – Ongoing organic and inorganic EBITDA pre growth
Financial overview FY 2023 – Ongoing organic and inorganic EBITDA pre growth FY EBITDA pre1 in €m FY 22 Organic Inorganic FY 23 Comments Pharmaceutical Supply (PS) 38.0 7.7 0.9 46.7 • EBITDA pre of PS grew mainly organically but also inorganically through the bbw acquisition Patient-Specific Therapi
Slide 21: Key figures (1/2)
Appendix Key figures (1/2) in € thousand FY 2023 FY 2022 ∆ in % Q4 2023 Q4 2022 ∆ in % Revenue 1,784,703 1,610,777 10.8% 441,245 399,380 10.5% Pharmaceutical Supply 1,558,148 1,390,296 12.1% 390,143 345,914 12.8% Patient-Specific Therapies 225,964 219,962 2.7% 51,003 53,337 -4.4% Services 591 518 14
Slide 22: Key figures (2/2)
Appendix Key figures (2/2) in € thousand FY 2023 FY 2022 ∆ in % Q4 2023 Q4 2022 ∆ in % Earnings per share (in €) Undiluted 0.79 0.77 2.6% 0,10 0.10 Diluted 0.79 0.77 2.6% 0,10 0.10 Investments (CAPEX) 1,262 5,064 -75.1% 401 1,488 -73.0% Cash flow from operating activities 16,406 37,123 -55.8% 5,600
Slide 23: Q4 2023 – Strong financials driven by PS segment
Appendix Q4 2023 – Strong financials driven by PS segment Pharmaceutical Patient-specific Internal Services IFRS consolidation Group Supply ‘PS‘ Therapies ‘PST’ Q4 YoY in € million Q4 23 Q4 22 Q4 23 Q4 22 Q4 23 Q4 22 Q4 23 Q4 22 Q4 23 Q4 22 Total segment revenue 424.5 364.7 55.1 65.2 2.2 1.8 -40.6 -
Slide 24: Contact
Contact Claudia Nickolaus Head of Investor & Public Relations, ESG Communications Phone +49 30 232 566 800 c.nickolaus@medios.ag
Slide 25: Disclaimer
Disclaimer This presentation has been produced by Medios AG (the „Company“). The facts and information The forward-looking statements, including but not limited to assumptions, opinions and views of contained herein are as up to date as is reasonably possible and are subject to revision in the the C
Slide 26: Full Year 2023 Results
Full Year 2023 Results Matthias Gaertner, CEO Falk Neukirch, CFO March 27, 2024