Fagron Sa · EURONEXT:FAGR
Fagron Sa — Fagron Sa Ord — H1 2025 Earnings Presentation
21 slides from Fagron Sa's earnings presentation, Jul 31, 2025
Slide 1: H1 2025 Results
H1 2025 Results Rafael Padilla CEO | Karin de Jong CFO 31 July 2025 1
Slide 2: Disclaimer
Disclaimer The contents of this document, including all statements made therein, are based on estimates, assumptions and other information currently available to the management of Fagron. Certain statements in this presentation may be deemed to be forward-looking. Such forward-looking statements are
Slide 3: Key highlights
Key highlights Rafael Padilla | CEO 3
Slide 4: Exceptional H1 2025 performance supported by all regions
Exceptional H1 2025 performance supported by all regions H1 2025 H1 2024 Strong organic revenue growth at CER supported by all regions and segments Total revenue €476.1m €429.3m 30bps margin expansion YoY driven by operational excellence benefits and synergies from acquisitions Revenue organic growt
Slide 5: EMEA: Diversified footprint, operational excellence and M&A drive performance
EMEA: Diversified footprint, operational excellence and M&A drive performance +3.8% 21.8% 8 Organic revenue growth REBITDA margin Quality audits at CER B&E performance shows CS performance reflects Strong operational Consolidated leading UK Entering the attractive solid demand favorable market excel
Slide 6: Latin America: Operational excellence driving strong performance
Latin America: Operational excellence driving strong performance +16.1% 17.4% 1 Organic revenue growth REBITDA margin Quality audit at CER Sustained market Consulfarma, the Brands performance Operational efficiencies Injeplast and Purifarma leadership and largest industry fair driven by innovative a
Slide 7: North America: Strong underlying demand with quality a key competitive differentiator
North America: Strong underlying demand with quality a key competitive differentiator +15.6% 19.5% 7 Organic revenue growth REBITDA margin Quality audits at CER B&E performance driven CS continued its strong Phased transition One-off capex of $29m Entered into the APAC by operational momentum benefi
Slide 8: Quality focus remains a key strategic priority across the organization
Quality focus remains a key strategic priority across the organization H1 2025 Global Quality KPIs Regulatory developments in the US present a compelling opportunity for differentiation 35+ Wichita: FDA acknowledges corrective actions adequately address its Facilities to audit requirements, pending
Slide 9: Supporting our growth strategy through organic investment and M&A
Supporting our growth strategy through organic investment and M&A Expansion of Anazao facility in Las Vegas Further four acquisitions closed • Will include increased number of automated vial and pellet machines • Entry into the attractive APAC region and Serbian market • Operational leverage as the
Slide 10: Financial review
Financial review Karin de Jong | CFO 10
Slide 11: H1 2025 financial highlights
H1 2025 financial highlights +10.9% +12.3% 95.0 23.0% 476.1 95.0 84.6 22.0% 429.3 21.0% 70.0 20.0% 19.0% +11.3% 19.7% 20.0% Org. growth CER 18.0% 45.0 17.0% 16.0% 20.0 15.0% H1 2024 H1 2025 H1 2024 H1 2025 Revenue in €m REBITDA in €m REBITDA margin Revenue growth seen across the board, Opex reflects
Slide 12: H1 2025 Revenue bridge and P&L statement
H1 2025 Revenue bridge and P&L statement in €m Profit & loss account (€m) H1 2025 H1 2024 Δ Net revenue 476.1 429.3 10.9% 490.0 13.1 -15.0 Gross margin 299.9 264.4 13.4% Operating expenses 203.6 178.5 14.1% 470.0 28.6 Share-based payments and LTI 1.3 1.4 -6.3% 450.0 EBITDA before non-recurrent resul
Slide 13: EMEA: Growth across all segments as strategic actions bear fruit
EMEA: Growth across all segments as strategic actions bear fruit Revenue Profitability +10.3% +13.1% 35.0% 45.0 176.9 38.5 160.3 40.0 30.0% 34.0 56.5 35.0 53.5 25.0% 30.0 27.6 25.0 +3.8% 21.8% 20.0% 21.2% 25.0 Org. growth CER 20.0 81.7 92.8 15.0% 15.0 10.0 10.0% H1 2024 H1 2025 H1 2024 H1 2025 Essen
Slide 14: Latin America: Strong revenue growth partly offset by FX volatility
Latin America: Strong revenue growth partly offset by FX volatility Revenue Profitability +1.1% +1.5% 18.0 35.0% 120.0 86.9 17.0 86.0 30.0% 16.0 2.2 1.9 14.9 15.1 15.0 25.0% 80.0 28.7 31.3 14.0 +16.1% 13.0 20.0% 40.0 Org. growth CER 12.0 55.0 53.7 17.3% 17.4% 15.0% 11.0 0.0 10.0 10.0% H1 2024 H1 202
Slide 15: North America: Strong revenue momentum with stable profitability
North America: Strong revenue momentum with stable profitability Revenue Profitability +16.0% +16.0% 35.0% 240.0 212.4 45.0 41.4 200.0 183.1 40.0 35.7 30.0% 35.0 160.0 25.0% 159.4 30.0 136.8 120.0 +15.6% 25.0 20.0% Org. growth CER 19.5% 19.5% 80.0 20.0 40.0 11.9 10.8 15.0% 15.0 34.4 42.1 0.0 10.0 10
Slide 16: Cash flow performance remains robust
Cash flow performance remains robust Cash flow from operating activities development (€m) 60.0 €m H1 2025 H1 2024 3.2 0.9 12.8 50.0 40.0 EBITDA 96.2 83.4 30.0 51.5 51.5 52.5 Changes to working capital* (34.3) (31.2) 20.0 41.9 41.9 Income tax paid (9.4) (10.3) 10.0 0.0 H1 2024 EBITDA Changes to worki
Slide 17: Robust balance sheet with flat net debt to EBITDA ratio
Robust balance sheet with flat net debt to EBITDA ratio Net debt evolution €m 17.2 11.9 19.3 19.0 15.2 52.5 45.1 1.6 295.9 301.3 301.3 320.6 270.7 261.7 276.9 218.2 216.6 216.6 On 31 Dec 2024 Operational cash Capital increases Acquisitions Capital expenditure Dividends paid Net interests FX IFRS 16
Slide 18: FY 2025 outlook reaffirmed
FY 2025 outlook reaffirmed Revenue REBITDA margin Capex Mid- to high-single digit Slight increase in ~3.5% organic growth at CER profitability y-o-y of revenue* Guidance assumes no significant changes in market conditions. Also excludes signed acquisitions that are not closed * Excludes one-off cape
Slide 19: Conclusion
Conclusion Rafael Padilla | CEO 19
Slide 20: Investment proposition
Investment proposition Together we create the future of personalizing medicine Solid execution Highest quality will Strong operational capabilities drive long-term and commercial success strategies Optimized Right people, Only true capital values and global player utilization passion 20
Slide 21: Questions
Personalizing medicine teense