Slide 1: Q1 presentation April 2025
vimian sins Q1 presentation ‘ (he April 2025
Slide 2: Q1 Highlights
Q1 Highlights / Strong earnings growth / Organic growth impacted by final AOP adjustment / First day of trading in Large Cap segment on Nasdaq Main Market / Well-positioned with attractive market exposure in uncertain world Page 2
Slide 3: Strong adjusted EBITA growth in the quarter
Strong adjusted EBITA growth in the quarter Revenue and Adj. EBITA Adj EBITA (EURm) Revenue (EURm) x% Adj EBITA margin x% Organic growth (%) Q1 development Net revenue +18% 10 104.9 107.5 / 18% revenue growth to EUR 107.5m 00 91.3 91.0 28.3 30 90 87.6 / 4% organic growth impacted by final 81.3 79.9
Slide 4: Specialty Pharma
Specialty Pharma 10% Organic growth / Double-digit growth with strong performance in Specialty Pharmaceuticals and Dermatology 19% Adj. EBITA growth / Continued positive momentum supported by new product launches and market share gains / Margin improvement driven by operational leverage and positive
Slide 5: MedTech
MedTech -7% Organic growth / Organic decline due to final adjustment of US orthopaedics annual ordering program - high single-digit growth in EMEA and APAC 16% Adj. EBITA growth / MedTech orthopaedics completed 41 in-person trainings with 564 participants in the quarter and +1,000 participants in vi
Slide 6: Veterinary Services
Veterinary Services 12% Organic growth / Strong organic growth with continued positive momentum / Launched new services platform to strengthen presence in US 34% Adj. EBITA growth / 400 new members reaching 8,800 members by end of Q1 / Strong profitability benefits from revenue growth and positive m
Slide 7: Diagnostics
Diagnostics 16% Organic growth / Continued double-digit organic growth driven by livestock diagnostics offering -1% Adj. EBITA decline / Profitability reflects investments in diversifying the business into companion animal diagnostics market Revenue and Adj. EBITA 5.9 6.0 6 2.0 5.2 4.9 5.0 5 1.5 4 3
Slide 8: 2024 Sustainability (ESG) highlights
2024 Sustainability (ESG) highlights Planet Reduce climate impact -13% Emissions in 65k Emissions in 94% Material suppliers assessed against and foster a responsible value chain. Scope 1&2 (CO2e) Scope 1, 2 & 3 (CO2e) our standards (Supplier Code) People Create a great place to 29 eNPS 41% Female se
Slide 9: Fourth Quarter Financials
Fourth Quarter Financials Page 9
Slide 10: Q4 Income Statement
EURm Q1 2025 Q1 2024 Q4 Income Statement January – March January – March Adjusted EBITA 28.3 24.1 / Operating profit (EBIT) EUR 15.6m (13.4) Adjusted EBITA margin (%) 26.3% 26.3% / Items affecting comparability EUR -7.0m (-5.1) Items affecting comparability -7.0 -5.1 • Litigation legal costs in MedT
Slide 11: Q1 Cash Flow
EURm Q1 2025 January – Q1 2024 January – Q1 Cash Flow March March EBIT 15.6 13.4 / NWC EUR 94.3m at 23% of revenues per end of March Cash flow from operating activities / Compared to end of December 2024, net working capital decreased by 22.5 13.2 before change in NWC EUR 5.8m driven by higher payab
Slide 12: Net Debt and Leverage
Net Debt and Leverage Leverage Net Debt (EUR m) 296 00 288 285 287 / Net debt per 31 March 2025 EUR 212.2m 80 60 / Cash and cash equivalents EUR 60.1m 40 222 20 212 00 / Net Debt / LTM Proforma Adjusted EBITDA 1.8x 80 3.1x 3.0x 3.0x 60 2.9x 144 140 40 20 2.0x 00 1.8x 80 1.3x 60 1.4x 40 20 0 2Q23 3Q2
Slide 13: Concluding remarks
Concluding remarks / Attractive exposure to resilient and growing market / Limited impact from tariffs / Continuing to execute a robust strategy / Well-positioned in uncertain world Page 13
Slide 14: Q&A
Q&A Page 14