Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q3 2025 Earnings Presentation
15 slides from Bonesupport Holding Ab's earnings presentation, Oct 23, 2025
Slide 1: BONESUPPORT Q3 (2025) Report
BONESUPPORT Q3 (2025) Report October 23rd, 2025 Torbjörn Sköld, CEO Håkan Johansson, CFO
Slide 2: Disclaimer
DISCLAIMER This presentation, which includes all information and data on the following slides, any oral statements made when presenting these slides, and any other material distributed or statements made at, or in connection with, such presentation (the “Presentation”), relates to BONESUPPORT HOLDIN
Slide 3: Third quarter report 2025: Financial highlights
BONESUPPORT – Third quarter report 2025 Financial highlights • Net sales SEK 294,1 m (SEK 237,5 m) Reported growth: +24% versus Q3 2024, Sales growth in constant exchange rates (CER): +34% • Operating results: Adjusted Operating result1: SEK 78,6 m (SEK 48,3 m), all time high, resulting in adj. Oper
Slide 4: Continued strong momentum for CERAMENT G in the US
Continued strong momentum for CERAMENT G in the US LTM Reported Quarterly Net sales (SEK m) by Segment by Quarter 1200 1 119 1 062 998 1000 • Strong influence from USD/SEK 899 depreciation 814 800 • LTM growth of 41% in constant currency, 735 versus 37% in the graph (reported) 655 591 600 • US CERAM
Slide 5: US: Increasing indication and customer diversity for CERAMENT G
US: Increasing indication and customer diversity for CERAMENT G Q3 2025 • Sales of SEK 246,3 m (SEK 192,0 m). Growth of 28% over Q3 2024 • Growth of 40% in constant exchange rate (CER) • Continued depreciation of USD versus SEK Highlights • CeraHip – unlocking the entry to Revision Arthroplasty and
Slide 6: EUROW: Strength in Hybrid Markets offset by German austerity measures
EUROW: Strength in Hybrid Markets offset by German austerity measures. Q3 2025 • Sales of SEK 47,8 m (SEK 45,5 m), growth of 5% over Q3 2024 • Growth of 7% in constant exchange rates (CER) • Hospital reforms and surgical protocol programs in Germany Highlights • Hybrid markets in Southern Europe, Au
Slide 7: Cementless one-stage hip revision with CERAMENT G
Cementless one-stage hip revision with CERAMENT G Bone & Joint Open 2025;6(9): 1146–1155. [Journal Impact Factor: 3.1] CeraHip - Study design Results: • Prospective study on 20 patients with infected hip prothesis, revised at 0% infection recurrence Charité (Berlin, Germany) Literature reference1 sh
Slide 8: Financial Report
BONESUPPORT Q3 (2025) Report Financial Report 8
Slide 9: Q3 2025 Net sales SEK 294.1 m
Q3 2025 Net sales SEK 294.1 m Q3 Net sales (SEK m) vs PY Increase Decrease Total 350 77,6 3,3 • US: 28 percent reported growth. 300 294,1 -24,2 40 percent growth in CER. 250 237,5 • EUROW: 5 percent reported growth. 7 percent growth in CER. 200 150 100 50 0 Q3 2024 Org growth US Org growth EUROW fx
Slide 10: Solid Q3 reporting despite volatility on BVF sales
Solid Q3 reporting despite volatility on BVF sales US Revenue growth 2023-2025 in USD m 30 Volatility on BVF sales in 1,6 25,8 the quarter impacting 25 2,5 whilst CERAMENT G 2,3 continue to show solid 20 1,0 19,4 2,1 performance 2,7 15 1,2 1,2 12,4 1,5 10 1,5 1,3 7,0 5 0 22 Q4 23 Q1 23 Q2 23 Q3 23 Q
Slide 11: US and EUROW net sales and gross margin
US EUROW +28% +5% (+40% CER) (+7% CER) Net sales Net sales Q3-25 Q3-25 US 2025 2024 EUROW 2025 2024 SEK m Q3 Q2 Q1 Q4 Q3 SEK m Q3 Q2 Q1 Q4 Q3 Net sales 246,3 235,6 231,2 209,4 192,0 Net sales 47,8 48,8 52,3 47,6 45,5 Gross profit 234,8 223,1 219,7 199,5 181,9 Gross profit 39,0 40,3 43,3 39,6 37,8 Gr
Slide 12: Cost movements mainly due to currency effect and seasonality
Cost movements mainly due to currency effect and seasonality Key Figures 2025 2024 2023 SEK m Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Selling expenses 66,3 67,2 73,0 71,2 65,5 67,6 59,7 59,6 Sales Commissions and fees 85,1 79,4 79,3 70,4 65,5 62,2 48,2 44,4 Research and Development expenses 20,6 23,6 23,8 21,8 19,7
Slide 13: Strong operating leverage and cash conversion
Strong operating leverage and cash conversion Key Figures 2025 2024 2023 SEK m Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Net sales 294,1 284,4 283,5 257,0 237,5 219,8 184,4 172,7 Gross margin (%) 92,9 92,3 92,6 92,6 92,9 92,3 92,6 91,8 Operating result 65,4 54,9 29,6 64,2 41,0 28,7 32,3 -8,0 Adj. Operating result1 78
Slide 14: Adj Operating result in SEK m
A continued solid trend in Adj Operating result1 excluding exchange gains and losses on foreign assets and liabilities 100 11,0 90 10,8 • Adj Operating result 80 10,6 (before fx) reached an Adj Operating result1 in SEK m 70 10,4 all-time high operating margin of 28,6%. 60 10,2 USD rate 50 10,0 40 9,
Slide 15: BONESUPPORT Q3 (2025) Report summary and guidance
BONESUPPORT Q3 (2025) Report • 24% sales growth (34% in CER) • Adj. Operating margin 27% • SEK 71 m in Cash flow • CeraHip: Entry to Revision Arthroplasty • Capital Markets day in spring 2026 Guidance: Sales growth above 40% (CER) for FY 2025 15