Atrys Health Sa · BME:ATRY
Atrys Health Sa — H1 2025 Earnings Presentation
25 slides from Atrys Health Sa's earnings presentation, September 2025
Slide 1: Results Presentation First Half 2025
Results Presentation First Half 2025
Slide 2: Disclaimer and Cautionary Statements
Disclaimer and Cautionary Statements This document and the results conference (including the Q&A session) may contain Except as required by applicable law, ATRYS assumes no obligation to publicly update forward-looking statements and information (hereinafter, “Statements”) relating to the outcome of
Slide 3: Highlights 1H25
Highlights 1H25 Key Financials 1H25 Strategic context €115.8m +7.8% Revenue In 1H25, ATRYS continues to deliver sustained organic growth, especially in business areas and geographies where it holds a solid and/or leading strategic position. There is €73.9m +2.2% Gross Margin (APM) notable growth in
Slide 4: Key financials 1H25
Key financials 1H25 Revenues Gross Margin (APM) Adj. EBITDA (APM) CAPEX(APM) Adj. Op. Cash Flow (APM) +7.8% 115.8 107.4 72.2 +2.3% 73.9 (13.3)% (18.2)% 25.2 19.2 15.7 21.9 +2.0% (6.0) (6.2) 1S24 1S25 1S24 1S25 1S24 1S25 1S24 1S25 1S24 1S25 Revenue +7.8% vs 1H24 driven by: Gross Margin over Revenue A
Slide 5: Key financials 1H25 by business segment
Key financials 1H25 by business segment % ADJ. EBITDA (APM) BY % REVENUE BY BUSINESS SEGMENT BUSINESS SEGMENT (2) Oncology Diagnostics Prevention Oncology Diagnostics Prevention ONCOLOGY DIAGNOSTICS PREVENTIVE MEDICINE Revenues / EBITDA Revenues / EBITDA Cifra de Negocios / EBITDA +16.9% +9,8% +0.1%
Slide 6: Revenue by Geography 1H25
Revenue by Geography 1H25 Portugal Colombia +7.3% +12.5% 7.9M€ 2.6M€ 6.8% Brazil 12.1% +0.8% LatAm 14.0% 3.0M€ Spain Chile 18.5% +8,0% 74.7% +1.6% 57.5% +8.0% 21.4M€ 86.5M€ 12.3M€ 16.4% Mexico +36.0% 3.5M€ Unaudited figures. (APM) see Alternative Performance Measures in Annex II. 6
Slide 7: Oncology
Oncology Revenue: €35.9m (+16.9%).Gross Margin over Revenue: 39.8% → 33.6% due to a higher weight of Medical Oncology Medical Oncology Spain (lower margin than radiotherapy) and the drop in Medical Oncology Spain margin. Portugal margin also affected (49.6% → Revenue & % Gross Margin 42.6%) by highe
Slide 8: Oncology
Oncology Radiotherapy Spain Barcelona centers: Revenue −1.5% in 1H25, affected by lower patient referrals at IOA Barcelona. IOA Madrid (Valdebebas, Sanitas hospital): inaugurated late June 2025, houses Spain’s first Varian Edge with Hypersight in operation, enabling therapeutic innovations. Patient
Slide 9: Diagnostics
Diagnostics TELEMEDICINE Importancia de los sistemas de puntuación pronóstica en Revenue & % Gross Margin neoplasias mielodisplásicas: IPSS.ra vs IPSM - Simposio del GCECHH en Barcelona +6.2% 20.979 Revenue: €35.1m, +9.8% vs 1H24, driven by robust Telemedicine demand in Spain, Colombia, Brazil and g
Slide 10: Diagnostics
Diagnostics Pathology / Genetics Revenue: €10.3m, +22.6% vs 1H24, fueled by strong demand for HPV testing. Gross Margin over Revenue: 65.7% → 64.7%, reflecting higher mix of Genetics HPV tests (lower margin than Pathology). Nuclear Medicine Revenue: +5.7% in 1H25. Launch of genetic analysis service
Slide 11: Financial Debt & Maturity Calendar
Financial Debt & Maturity Calendar Gross and Net Debt components (APM) at 30th June 2025 Gross Debt maturity calendar TOTAL GROSS DEBT 186.2 (MAR) 142.3 Bank Debt + TLB 156.9 Net Debt (APM) 163.4 Convertible Bond + R&D 21,.1 14.1 17.1 Debt 22.8 3.8 Other 15.2 0.8 1.3 Gross Cash & equivalents June 26
Slide 12: Shareholder Base
Shareholder Base Shareholders Base Target price Shareholders composition (%) Number of shares issued: 76.014.193 GVC GAESCO 6.50€ Buy Private Equity 6.84% Management team 6.56% JP CAPITAL MARKETS 5.60€ Health insurers Buy 6.72% KEPLER CHEUVREUX 5.00€ Buy RENTA 4 6.00€ Outperform Family Offices Free
Slide 13: Quarterly trend in key financial metrics
Quarterly trend in key financial metrics Unaudited figures. (APM) see Alternative Performance Measures in Annex II. Pro forma 2023 results excluding Conversia from Group perimeter. 13
Slide 14: Annex I Financial Information
Annex I Financial Information 14
Slide 15: Income Statement
Income Statement Unaudited figures. (APM) see Alternative Performance Measures in Annex II. 15
Slide 16: Balance Sheet (assets)
Balance Sheet (assets) Unaudited figures. (APM) see Alternative Performance Measures in Annex II. 16
Slide 17: Balance Sheet (Equity & Liabilities)
Balance Sheet (Equity & Liabilities) Unaudited figures. (APM) see Alternative Performance Measures in Annex II. 17
Slide 18: Reconciliation: EBITDA (APM) Adj. EBITDA (APM) to Operating Result
Reconciliation: EBITDA(APM) Adj. EBITDA (APM) to Operating Result Unaudited figures. (APM) see Alternative Performance Measures in Annex II. 18
Slide 19: Gross & Net Debt (APM)
Gross & Net Debt (APM) Unaudited figures. (APM) see Alternative Performance Measures in Annex II. 19
Slide 20: Segments breakdowns 1H 2025
Segments breakdowns 1H 2025 Unaudited figures. (APM) see Alternative Performance Measures in Annex II. 20
Slide 21: Segments breakdowns 1H 2024
Segments breakdowns 1H 2024 Unaudited figures. (APM) see Alternative Performance Measures in Annex II. 21
Slide 22: Annex II Alternative Performance Measures Definitions
Annex II Alternative Performance Measures Definitions 22
Slide 23: Alternative Performance Measures Definitions
Alternative Performance Measures Definitions Gross Profit: Net revenue minus cost of goods sold. Considered a performance measure as it Adjusted Operating Cash Flow: Adj. EBITDA − CAPEX − R&D CAPEX. shows net sales after deducting the costs incurred to achieve such sales. Gross Margin over Revenue =
Slide 24: Q&A
Q&A
Slide 25: Thank you!
Find more information at atryshealth.com Thank you!