Chemical Works Of Gedeon Richter Plc · BET:RICHTER
Chemical Works Of Gedeon Richter — Gedeon Richter — H1 2025 Earnings Presentation
38 slides from Chemical Works Of Gedeon Richter's earnings presentation, Aug 6, 2025
Slide 1: Q2/H1 2025 Earnings Report
Q2/H1 2025 Earnings Report 6 August 2025
Slide 2: H1 2025 highlights – tracking in line with guidance after strong Q2
H1 2025 highlights – tracking in line with guidance after strong Q2 Pharma Revenues (CER*) H1 2025 CER revenue (EUR 1.13bn) grew by 8% guidance around +10% (FX added c. 3ppt to reported growth) (EUR 2.3-2.4bn) 2025 1 H1 2025 CER Clean EBIT (EUR 357mn) rose by Clean EBIT (CER*) around +10% 10% Q1 HUF
Slide 3: Financial and operational highlights
Financial and operational highlights Financial highlights • Pharma revenues grew by 11% YoY to HUF 237.5bn in Q2 2025, bringing H1 2025 revenues to HUF 458bn (+11% YoY) • CER (ex-FX) revenue growth was 8% in H1 2025, catching up with the annual guidance (around +10%); FX provided c. 3ppt tailwind to
Slide 4: ESG: Sustainable operations from production to administration
ESG: Sustainable operations from production to administration Renewable energy procurement and production ➢ Crucial milestones were achieved towards meeting our strategic goal to cover c.50% of our Hungarian electricity consumption from renewable sources ➢ 60%+ YoY increase in our own renewable elec
Slide 5: Financial Highlights
Financial Highlights 5 5
Slide 6: Pharmaceutical revenues (ex-FX) rose by 7.6% in H1 2025
Pharmaceutical revenues (ex-FX) rose by 7.6% in H1 2025 Pharmaceutical Revenues, cumulative (HUF bn, EUR mn) Pharmaceutical Revenues by region (HUF bn) +10.7% +7.6% Western Europe 76.1 86.0 457.6 444.8 1,132 413.4 Central Europe 86.4 91.0 Eastern Europe 84.6 98.0 North America 116.5 131.2 Asia & Pac
Slide 7: Accelerating WHC, slowing GenMed dynamics in Q2
Accelerating WHC, slowing GenMed dynamics in Q2 WHC Revenues GM Revenues Key messages +12.9% +10.2% +7.7% +5.2% • WHC sales growth accelerated significantly in Q2 (+19%), bringing the H1 growth into the double- 168.8 164.7 130.8 127.7 digit range, even if adjusted for FX and despite 149.5 121.4 the
Slide 8: Moderating opex growth (+9.5% in H1 YoY)
Moderating opex growth (+9.5% in H1 YoY) Operating costs as a % of Pharma revenues (%) Operating expenses (pharma) (HUFbn) +8.0% 40 36 35 90.5 31 30 31 31 83.1 30 30 30 30 81.9 30 28 76.9 74.7 16.3 14.1 14.3 25 13.3 12.9 20 20 21 20 19 19 19 18 20 18 17 29.0 23.8 25.1 13 22.6 24.9 15 12 11 12 10 11
Slide 9: Strong Q2 boosts Clean EBIT (ex-FX) growth to 10% in H1 2025
Strong Q2 boosts Clean EBIT (ex-FX) growth to 10% in H1 2025 Pharmaceutical Clean EBIT*, cumulative (HUF bn, EUR mn) Key messages +14.5% +9.9% • Clean EBIT (pharma) rose by 21% YoY in Q2 2025 to HUF 79bn, bringing H1 2025 Clean EBIT to HUF 147bn, up by 147.4 357 14.5% YoY driven by higher CNS earnin
Slide 10: Below-the-line: FX turns into losses in 2025, affecting net income
Below-the-line: FX turns into losses in 2025, affecting net income Net Profit in H1 2025, below-Clean EBIT items (HUF bn) 148.2 7.8 140.4 1.5 Includes taxes calculated in line with 6.5 5.8 Global Minimum Tax and some 2.5 24.9 deferred tax expenses Includes some 120.0 provisions (legal) and several I
Slide 11: Robust free cash flow in H1, mostly paid out as dividends
Robust free cash flow in H1, mostly paid out as dividends Free Cash Flow in H1 2025 (HUF bn) Key messages A similar increase in NWC Application of Cash Flow • Free Cash Flow was HUF 111bn in H1 154.0 to last year’s as supply chain challenges persist 2025, similar to the year ago level, as FX losses
Slide 12: Research and Development
Research and Development R&D 12 12
Slide 13: R&D pipeline – changes during Q2 2025
R&D pipeline – changes during Q2 2025 Market Preclinical phase Clinical phase Regulatory & Launch Phase 1 Phase 2 Phase 3 Own Technology Development Clinical phase Neuropsychiatry Biotechnology Women’s Healthcare Own RSL* General Medicines new discontinued License 13 * Ready-to-Sell Licensed pipelin
Slide 14: Major developments in R&D in Q2 2025
R&D Major developments in R&D in Q2 2025 • Currently there are 2 projects in mid- to late-preclinical phase and some compounds are planned to be forwarded to IND WHC enabling studies. CSF-1R compound is targeting two indications, women oncology indications and causal endometriosis treatment. Women’s
Slide 15: Neuropsychiatry
Neuropsychiatry CNS 15 15
Slide 16: CNS revenues and clean EBIT sustain double-digit growth
CNS CNS revenues and clean EBIT sustain double-digit growth CNS | HUF mn Q2 2024 Q2 2025 Ch. % YoY H1 2024 H1 2025 Ch. % YoY Revenue (HUFbn) Revenues 56,450 64,609 14 109,418 124,394 14 Cost of Sales -406 -356 -12 -782 -788 1 +13.7% Gross Profit 56,044 64,253 15 108,636 123,606 14 +14.5% Gross Margi
Slide 17: Vraylar: continued strong demand growth; Reagila: picking up in Q2
CNS Vraylar: continued strong demand growth; Reagila: picking up in Q2 Vraylar® Key messages +14.4% • Royalty income from Vraylar® in Q2 2025 +14.9% exceeded HUF 60bn, up nearly 15% YoY 65.1 117.0 61.7 56.2 60.7 102.3 • In H1 comparison, royalty revenues increased 52.8 by 14%, approaching HUF 120bn
Slide 18: Women's Healthcare
Women’s Healthcare WHC 18 18
Slide 19: Accelerating topline growth and higher R&D expenses
WHC Accelerating topline growth and higher R&D expenses Ch. % WHC | HUF mn Q2 2024 Q2 2025 Ch. % YoY H1 2024 H1 2025 YoY Revenue (HUFbn) Revenues 75,331 89,917 19 149,519 168,761 13 Cost of Sales -22,267 -27,976 26 -45,520 -52,894 16 +12.9% +19.4% Gross Profit 53,064 61,941 17 103,999 115,867 11 Gro
Slide 20: TA split: continued diversification towards steadily growing areas
WHC TA split: continued diversification towards steadily growing areas Total WHC revenues by therapeutic areas (quarterly, HUF bn) Key messages +19.4% The positive trend of very fast growth of the smaller focus TAs (Fertility, UF/EM, and Menopause) – in line with our strategic 89.9 Other WHC 6.5 pla
Slide 21: Highlighted brands | Ryeqo and Drovelis keep very strong momentum
WHC Highlighted brands | Ryeqo and Drovelis keep very strong momentum Ryeqo® Drovelis® +90.3% +61.7% 7.4 6.5 6.6 6.2 6.5 5.5 4.6 4.4 4.1 3.9 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 +96.3% +65.6% 13.9 12.9 7.1 7.8 5.2 2.4 H1 2023 H1 2024 H1 2025 H1 2023 H1 2024
Slide 22: Highlighted brands | Lenzetto excels; Bemfola recovering; EVRA flat
WHC Highlighted brands | Lenzetto excels; Bemfola recovering; EVRA flat EVRA® Bemfola® Lenzetto® -3.7% +56.5% +18.1% 9.9 9.6 5.3 4.4 4.9 8.2 4.3 3.7 7.9 7.7 4.1 4.1 3.3 3.5 2.8 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 +0.
Slide 23: Biotechnology
Biotechnology BIO 23 23
Slide 24: Steady revenue and Clean EBIT improvement YoY
BIO Steady revenue and Clean EBIT improvement YoY BIO | HUF mn Q2 2024 Q2 2025 Ch. % YoY H1 2024 H1 2025 Ch. % YoY Revenues 15,080 16,383 9 26,521 29,443 11 Revenue (HUFbn) Cost of Sales -10,289 -10,667 4 -16,799 -19,024 13 +8.6% +11.0% Gross Profit 4,791 5,716 19 9,722 10,419 7 Gross Margin % 31.8
Slide 25: Both teriparatide and CDMO revenues grew by around 10% in H1
BIO Both teriparatide and CDMO revenues grew by around 10% in H1 Teriparatide Key messages +21.5% +12.0% • Teriparatide biosimilar (incl. Terrosa®) revenues are up YoY by 12% in H1 2025, 8.5 14.6 also reflecting the positive impact of the 13.0 7.0 7.3 7.1 royalty contribution from the teriparatide 6
Slide 26: General Medicines
General Medicines GM 26 26
Slide 27: Slowing dynamics in Q2
GM Slowing dynamics in Q2 GM | HUF mn Q2 2024 Q2 2025 Ch. % YoY H1 2024 H1 2025 Ch. % YoY Revenue (HUFbn) Revenues 62,947 65,289 4 121,420 130,830 8 Cost of Sales -28,106 -29,972 7 -54,517 -59,321 9 +7.7% +3.7% Gross Profit 34,841 35,317 1 66,903 71,509 7 Gross Margin % 55.3 54.1 55.1 54.7 64.8 64.5
Slide 28: Mixed performance in Q2 across the key TAs
GM Mixed performance in Q2 across the key TAs Total GenMed revenues by therapeutic areas (quarterly, HUF bn) Key messages +3.7% • Blood&metabolic category shows strong YoY growth on the 62.9 64.8 64.5 65.5 65.3 back of solid performance in the biggest markets: Rivaroxaban Blood&metabolic 4.4 5.8 4.6
Slide 29: Appendix
Appendix 29 29
Slide 30: FX gains turn into losses in Q2 on the weaker USD
FX gains turn into losses in Q2 on the weaker USD Q2 2024 Q2 2025 Diff Q2 H1 2024 H1 2025 Diff H1 7.1 -7.5 -14.6 Unrealised exchange (loss)/gain 20.2 6.6 -13.6 -0.9 -8.2 -7.4 Realised exchange (loss)/gain 1.2 -12.4 -13.6 1.2 Result of realised & unrealised 0.4 0.8 -0.3 2.3 2.7 forward exchange contr
Slide 31: Business units' P&L in H1 2025
Business units’ P&L in H1 2025 Pharma Pharma H1 2025 WHC CNS BIO GM Other Eliminations Group total other total Revenues 168.8 124.4 29.4 130.8 4.1 457.6 13.0 -5.0 465.5 Cost of Sales -52.9 -0.8 -19.0 -59.3 -4.3 -136.3 -10.3 5.4 -141.2 Gross Profit 115.9 123.6 10.4 71.5 -0.1 321.3 2.6 0.4 324.3 Sales
Slide 32: Strategic positioning and vision of the business units
Strategic positioning and vision of the business units Pharma | Pharmaceuticals segment Name of the Business Units Brief description Key strategic goal Therapeutic areas Leveraging our world class early phase R&D capability Maximize the potential of cariprazine, while developing in the central nervo
Slide 33: Consolidated Income Statement
Consolidated Income Statement 2024 H1 2025 H1 2024 Change Consolidated P&L HUFm HUFm HUFm % 857 545 Revenues 465 509 419 693 10.9% 236 591 of which royalty 122 122 104 799 16.5% (266 807) Cost of Sales (141 191) (127 722) 10.5% 590 738 Gross Profit 324 318 291 971 11.1% (163 808) Sales & marketing e
Slide 34: Consolidated Balance Sheet - ASSETS
Consolidated Balance Sheet - ASSETS 30 June 2025 31 Dec 2024 Change Consolidated Balance Sheet HUFm HUFm % ASSETS 1 601 053 1 602 991 -0.1% Non-current assets 911 096 961 934 -5.3% Property, plant and equipment 378 137 378 860 -0.2% Goodwill 35 002 38 777 -9.7% Other intangible assets 295 189 306 18
Slide 35: Consolidated Balance Sheet - EQUITY AND LIABILITIES
Consolidated Balance Sheet - EQUITY AND LIABILITIES 30 June 2025 31 Dec 2024 Change Consolidated Balance Sheet HUFm HUFm % EQUITY AND LIABILITIES 1 601 053 1 602 991 -0.1% Capital and reserves 1 302 179 1 303 862 -0.1% Share capital 18 638 18 638 0.0% Treasury shares (33 847) (33 852) 0.0% Share pre
Slide 36: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement 31 Dec 2024 30 June 2025 30 June 2024 Change Consolidated cash flow HUFm HUFm HUFm % Operating activities 281 077 Profit before income tax 145 055 156 629 -7.4% 49 521 Depreciation and amortisation 29 039 23 287 24.7% 4 180 Non cash items (6 458) (5 413) 19.3% (5 692
Slide 37: Contacts, Financial calendar, Investor relations manager
Contacts Financial calendar Company name: Gedeon Richter Plc. | 6 August 2025 – Q2/H1 2025 results Sector: Pharmaceutical | 6 November 2025 – Q1-Q3 2025 results Company address: 1103 Budapest, Gyömrői út 19-21., Hungary Telephone: +36 1 431 5764 Investor relations manager Róbert Réthy, CFA +36 20 34
Slide 38: Disclaimer
Disclaimer This presentation may contain forward-looking statements, that may include, but are not limited to, those regarding capital, investment, cash flows, demand, earnings, efficiency, production, profits. These forward-looking statements are subject to risks, uncertainties, and other factors,