Medmix Ag · SIX:MEDX
Medmix — FY2024 Earnings Presentation
26 slides from Medmix's earnings presentation, Feb 26, 2025
Slide 1: Full-year results 2024
Full-year results 2024 René Willi, CEO Jennifer Dean, CFO February 26, 2025 Providing innovative solutions to help people live healthier and more confident lives
Slide 2: Disclaimer and important notes / Safe harbor statement
Disclaimer and important notes / Safe harbor statement under the US private securities litigation reform act 1995 This presentation contains forward-looking statements that are based on rnagement’s current assumptions and expectations concerning future developments, including but not limited to, pro
Slide 3: Highlights and Business Review
Highlights and Business Review René Willi, CEO
Slide 4: Solid result in challenging market environment
Solid result in challenging market environment Key Figures 2024 Group Adjusted Operating Revenues1 EBITDA margin net cash flow 483.9 19.1% 61.0 Stable year-on-year +239.8% -0.6% reported2 -1.5% organic3 Gross profit Growth & Efficiency Program Improved CDP climate score 159.7 80 initiatives identifi
Slide 5: Highlights Full Year 2024
Highlights Full Year 2024 Strong growth in Dental, robust cash generation Strong growth in C&I Segment stable Adj. EBITDA margin Strong Cash Dental & Surgery; despite sluggish constant at 19.1% generation on Drug Delivery end markets At top end of stringent NWC impacted by guidance management and se
Slide 6: Business unit revenue and key drivers
Business unit revenue and key drivers Healthcare Segment Consumer & Industrial (C&I) Segment Drug Dental Surgery Industry Beauty Delivery 115.6 43.4 17.7 126.6 180.6 +9.6% -17.5% +3.4% -2.3% -3.2% • Strong growth • Customer dual-sourcing • New customer orders • Softness in our • 2nd half 2024 slower
Slide 7: Financial Review
Financial Review Jennifer Dean, CFO
Slide 8: Key performance indicators
Key performance indicators Improved gross profit, strong cash flow generation CHF million FY 2024 FY 2023 change • Group revenue slightly down year-on-year: Revenue 483.9 486.6 -0.6% Drug Delivery offsetting Dental & Surgery Organic revenue growth – – -1.5% growth. C&I stable despite sluggish end Se
Slide 9: Business unit revenue contribution
Business unit revenue contribution Revenue development breakdown -0.6% 10 1 -1.5% organic Business Units % share of Revenue 487 (9) 13 (3) 484 (6) 479 37 (8) 26 9 % Change in organic growth 4 +9.6% +3.4% -17.5% -2.3% -3.2% 24 Revenue Drug Organic FX M&A Revenue FY 2024 Dental Surgery Industry Beauty
Slide 10: Healthcare and C&I segment gross profit
Healthcare and C&I segment gross profit Improved total segment gross profit margin Healthcare segment gross profit C&I segment gross profit 109.0 62.0% 109.0 36.0% 108.0 108.5 61.0% 35.0% 107.0 108.0 106.0 60.0% 107.5 34.0% FY 23 FY 24 FY 23 FY 24 CHF million % margin CHF million % margin • Gross ma
Slide 11: Adjusted EBITDA bridge
Adjusted EBITDA bridge Favorable mix offset by targeted increase of OPEX Adj. EBITDA margin at upper end of guidance range 2.4 19.1% 0.8 2.4 19.1% 93.1 92.5 -1.1 -5.1 Favourable margin & mix partly offset by increase of OPEX: • Ramp up of Atlanta and Qiaoyi sites • Costs and impairments related to G
Slide 12: Operating net cash flow bridge
Operating net cash flow bridge Operating cash flow driving year-on-year improvement Op. net cash Capital Net Working Op. net cash flow FY 2023 EBITDA flow FY 2024 Expenditure Capital Chart figures in CHF millions 12
Slide 13: Strategy & Outlook
Strategy & Outlook
Slide 14: New Leadership – mandate for change
New Leadership – mandate for change Strategic review Empower the Business Units Launch Growth & Efficiency Program 14
Slide 15: Strategic Priorities To Ensure Sustainable Growth
Strategic Priorities To Ensure Sustainable Growth 15
Slide 16: Optimizing For Success: Growth & Efficiency Program
Optimizing For Success: Growth & Efficiency Program • Re-allocating resources to • Improve efficiency • Renew our high-performance the strategic priorities • Faster decision taking culture • Improve our performance by • Reduce complexity • Empowerment strategically reducing costs • Improve customer
Slide 17: Growth & Efficiency Program: CHF 30m cost out over 2 years
Growth & Efficiency Program: CHF 30m cost out over 2 years Transform medmix into a high-performance organization STRATEGY IMPLEMENTATION • Streamline Headquarter structure and support functions Reduce or • Reduction of outside service costs Eliminate • Simplified footprint – eliminating redundancies
Slide 18: Capital Allocation Principles
Capital Allocation Principles Maintain strong balance sheet Innovation: Accelerate development of next generation applicators Invest in high-growth, high-margin healthcare niches Invest in automation and other operational efficiency projects Maintain dividend 18 medmix CONFIDENTIAL
Slide 19: Innovation
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Slide 20: C&I: Competitive advantage through innovations
C&I: Competitive advantage through innovations Sustainable, unique, versatile and fast to market ShadowPrinting 2.0 Sustainable material MIXPACTM greenLineTM Sustainable decoration for cosmetics products new range extensions • Attractive and iconic surface • Reduced footprint by 75% compared • Reduc
Slide 21: Dental Micro-System: Innovation in faster growing market
Dental Micro-System: Innovation in faster growing market Provides competitive advantage for our OEM customers • Next gen, 2 component delivery device for cementation category • Enhanced value • Reduced material waste and improved sustainability • Patented design 21 medmix CONFIDENTIAL
Slide 22: Incremental Innovation: Vented Piston for the Surgery G-system
Incremental Innovation: Vented Piston for the Surgery G-system G-system is our most popular product line, on the market for several years Incremental innovation offer significant advantages for our customers and end users Air passes through the device during filling and/or reconstitution: • Increase
Slide 23: PiccoJect autoinjector
PiccoJect autoinjector Device with unique competitive advantages currently in industrialization Patients prefer PiccoJect Lower carbon footprint High viscosity handling ability Designed for emergency use Easy pre- and final assembly Installing fully automated pre- and final Optimized design to cost
Slide 24: Outlook
Outlook 2025 transition year • Organic revenue growth flat • Adjusted EBITDA margin 18-19% Continued growth in Dental and Surgery offset by decline in Drug Delivery due to dual sourcing impact. Drug Delivery new device revenues starting towards the end of 2026 C&I segment expected to be flat in 2025
Slide 25: Q&A
Q&A René Willi, CEO Jennifer Dean, CFO
Slide 26: Your Investor Relations contact
Your Investor Relations contact Domenico Truncellito Head Corporate Communications & Investor Relations Phone: +41 41 723 73 37 E-mail: investorrelations@medmix.com medmix Group AG Neuhofstrasse 20 6340 Baar Switzerland 26