Medartis Holding Ag · SIX:MED
Medartis — FY2025 Earnings Presentation
40 slides from Medartis's earnings presentation, Mar 17, 2026
Slide 1: 2025 | Full-year results
2025 | Full-year results Matthias Schupp, CEO | Peter Hackel, CFO Basel, 17 March 2026
Slide 2: Disclaimer
Disclaimer This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Medartis Holding AG. This publication may contain certain forward-looking statements and assessments or intentions concerning the company and its business. Such statements involve
Slide 3: 2025 | Transition and transformation
2025 | Transition and transformation 1. Leadership team strengthened and strategic portfolio expanded 2. US distribution channel restructured to support the next phase of growth 3. Addressable market significantly expanded 4. Financial guidance delivered despite unexpected headwinds THREE BRANDS 5.
Slide 4: Culture | Increasing importance as headcount scales through M&A
Culture | Increasing importance as headcount scales through M&A Agility & Entrepreneurial Decision- Mindset Making IT Promote CUSTOMER Ownership Engagement CENTRICITY Attitude WE I Psychological Passion for Safety Learning WE: Teamwork and collaboration I: Individual responsibility 4 IT: Medartis as
Slide 5: The Medartis Group
The Medartis Group Brand Ownership 100% 100% 51% stake 5
Slide 6: A growing team of dedicated people
A growing team of dedicated people 1400 KeriMedical (France) NeoOrtho (Brazil) 1200 1000 Nextremity (USA) 800 600 400 200 0 6
Slide 7: Key highlights | Keeping our promises
Key highlights │ Keeping our promises CHF Group Organic revenue EBITDA 2025 revenue growth2 margin Guidance 269.3million 15.7% CER 18.4% core Delivered − Total sales reached − Mid teens organic − Profitability reached high − After raising our financial CHF 269.3 million, revenue growth driven by tee
Slide 8: All markets with double-digit organic growth
All markets with double-digit organic growth1 13.4% 18.0% US EMEA 10.4% LATAM 13.3% APAC 15.7% Worldwide 1 Organic growth rates at CER. 8
Slide 9: US growth in 2025 impacted by unplanned distributor changes in Florida
US growth in 2025 impacted by unplanned distributor changes in Florida Development of quarterly sales in Florida ⎼ Half of sales partners were replaced and new ones added, bringing 2 the total number of sales partners to 65 (2024: 57) ⎼ Five new distributors appointed across northern Florida (Gaines
Slide 10: TOUCH US launch reaches execution phase
TOUCH US launch reaches execution phase ⎼ TOUCH rollout preparation completed; initial cases performed by key opinion leaders (KOLs) ⎼ Product registration finalised in first-mover centres; VAC process averages up to four months ⎼ 10 exclusive field experts and education specialists recruited ⎼ KOL
Slide 11: ONE TEAM
ONE TEAM CEO MATTHIAS SCHUPP Executive Management Board KeriMedical Advisory Board Assistant CEO – Board Secretary CEO Assistant – Board Secretary ANTONIETTA FASOLIN DOUGAL BENDJABALLAH & BERNARD PRANDI Antonietta Fasolin COO CFO President US President EMEA EVP R&D CHRO MARIO DELLA CASA PETER HACKEL
Slide 12: Peter Hackel has joined Medartis in January
Peter Hackel has joined Medartis in January ⎼ Peter has an excellent track record of working in growth companies ⎼ Proven financial leadership: Dr Peter Hackel offers a valuable combination of financial and business expertise across multiple industries ⎼ Career spanning Straumann Group, Syntegon, OC
Slide 13: Financial review
Financial review Peter Hackel, CFO
Slide 14: All markets with double-digit growth, EMEA was the key contributor
All markets with double-digit growth, EMEA was the key contributors Sales in million CHF and yoy growth rates CHF 19.8% CER 24.2% Organic 15.7% 2.5 266.1 3.2 269.3 4.0 6.0 23.7 18.1 229.9 224.8 -7.8 217.0 -5.3 18.0% 13.4% 13.3% 10.4% Reported FX Reported Non-core M&A sales Adj. 2024 EMEA US APAC LAT
Slide 15: All segments with double-digit growth
All segments with double-digit growth Core sales breakdown by category (LHS) and organic growth in % (RHS) − Upper extremities growth driven by TOUCH as well as dorsal olecranon and clavicle product Lower CMF & launches extremities Others − TOUCH (+60%) and intramedullary Nail portfolio 16% 17% 16.8
Slide 16: US tariffs | Mitigation strategy in place
US tariffs | Mitigation strategy in place ⎼ FY 2025 impact amounted to 0.9 percentage points; various short-term mitigation actions helped to soften the effect April-July August-November November-December 10% 39% 15% ⎼ US production ramp-up to reduce FX exposure and customs impact: • started in late
Slide 17: Reconciliation of APMs in 2024 and 2025
Reconciliation of APMs in 2024 and 2025 (in CHF thousands) IFRS 2025.12 M&A effects non-core business Other CORE 2025.12 CORE 2024.12 − M&A effects: CHF 8.8m inventory step-up Net revenue 269’257 (3’206) 266’051 219’595 amortisation, CHF 14.5m revaluation of the Cost of goods sold (64’927) 8’778 4’4
Slide 18: Gross margin | Margin decreased primarily due to FX, tariffs, and brand mix
Gross margin | Margin decreased primarily due to FX, tariffs, and brand mix – underling Medartis margin stable in % of net sales, rounded -0.2 PP − Gross margin impacted 0.3 by FX and new US tariffs 3.3 82.1 0.3 81.9 (0.6 PP and 0.9 PP) -0.2 -0.6 81.0 − KeriMedical margin -0.9 impact turned positive
Slide 19: EBITDA | Core profitability increased thanks to OPEX leverage
EBITDA | Core profitability increased thanks to OPEX leverage in % of net sales, rounded 21.4 -1.2 − Core EBITDA margin -2.4 increased +0.6 PP at CER +0.6 PP 0.7 19.1 − Investment in growth 0.1 18.4 initiatives while keeping 1.5 0.1 17.8 -1.1 overall cost discipline − OPEX improvement offset gross m
Slide 20: Net result | Bottom-line impacted by FX and financing costs
Net result | Bottom-line impacted by FX and financing costs In CHF million -46.9% -7.9 − CHF 5.6 million mostly 2.0 unrealised FX losses 1.4 0.3 resulting mainly from 7.9 11.4 decrease of USD, JPY and AUD 3.2 9.3 − CHF 3.5 million convertible -1.2 bond expenses (related to 6.1 KeriMedical acquisitio
Slide 21: Free cashflow | FCF at CHF 9 million due to increased CAPEX investments
Free cashflow | FCF at CHF 9 million due to increased CAPEX investments In CHF million − Improved receivables and inventory management -25.5 34.8 138.7 − CHF 14 million higher CAPEX yoy: Investment in NeoOrtho factory and extension of Free cashflow: KeriMedical site in Archamps CHF 9.3 million (PY 2
Slide 22: Strategy update
Strategy update Matthias Schupp, CEO 22
Slide 23: Our strategic priorities
Our strategic priorities CUSTOMERS AT THE CENTRE OF WHAT WE DO Accelerate Keri Medical Value Regional Innovation & Improve US Strategy share gains Digitalisation Cashflow HIGH PERFORMANCE CULTURE with a high-performance team 23 23
Slide 24: Operating in high-growth market segments worth CHF 5-billion
Operating in high-growth market segments worth CHF 5-billion Global orthopaedic market in CHF billion Size and growth of orthopaedic market segments 1Source: the Orthopaedic industry annual report, SmartTRAK 2025 and Orthoworld 2025 24
Slide 25: TOUCH | strong WW growth, with continued momentum in France and Belgium
TOUCH | strong WW growth, with continued momentum in well-penetrated markets France and Belgium # TOUCH prostheses per year 50,000 +40% 25,000 0 2021 2022 2023 2024 2025 1 KeriMedical sales include its flagship TOUCH® CMC 1 prosthesis for thumb arthritis as well as KeriFlex®, a silicone implants for
Slide 26: Patient awareness activities for improved patient journey
Patient awareness activities for improved patient journey ⎼ AWARENESS | Educating patients and raising clinical awareness serve fundamental roles in healthcare without violating promotional boundaries ⎼ PATIENTFLOW | As more patients consult specialists regarding their joint pain and explore surgica
Slide 27: 'Cold fusion' is on the verge of completion
‘Cold fusion’ is on the verge of completion Curitiba, Brazil Curitiba, Brazil 27
Slide 28: From 1 to 5 in 3 years
From 1 to 5 in 3 years Hand arthroplasty; KeriMedical, Archamps und Besançon, France HQ /premium implant production; Basel, Switzerland Premium Implants & Instrument-Production, Warsaw, US Value Implants Yellow = Direct markets / dark = distributor markets 28 NeoOrtho, Curitiba, Brazil
Slide 29: Value strategy | expanding the addressable market
Value strategy | expanding the addressable market Back-office functions consolidation for Medartis Brazil and NeoOrtho finished in March Value market in Latin America represents a CHF 450 million market opportunity Value segment represents growth opportunity, especially amid public hospitals and ten
Slide 30: Strategic step into PSI implants and titanium printing
Strategic step into PSI implants and titanium printing 30
Slide 31: CADskills complements our existing in-house CMX offering
CADskills complements our existing in-house CMX offering ⎼ CADskills was founded in 2016 in Gent, Belgium ⎼ CADskills holds certification to manufacture class III medical devices ⎼ Titanium printing and capabilities and PEEK knowhow is transferable for us ⎼ Transaction is structured as an upfront pa
Slide 32: Outlook 2026
Outlook 2026 medartis group
Slide 33: Expanding the portfolio: 5 key launches coming soon
Expanding the portfolio: 5 key launches coming soon Fibula CMX Service – TriLock 3.5 Clavicle Hook Titan Nail System PentaLock 3.5 Proximal Nail Custom-made plates Plates Humerus System 33
Slide 34: New Outlook 2026
New Outlook 2026 (barring any unforeseen circumstances) ORGANIC1 GROWTH CORE EBITDA MARGIN 16 - 18% in the high teens Core Sales at CER 1 "Organic growth" denotes the increase in sales at constant exchange rates (CER), excluding the sales from acquired or sold businesses (i.e. NeoOrtho, KeriMedical)
Slide 35: Q&A
&A medartis group 35
Slide 36: Integrated Annual Report available on our website
Integrated Annual Report available on our website 36
Slide 37: Investor & Media Event, Basel, June 2026
medartis group INVESTOR & MEDIA EVENT BASEL, 3- 4 JUNE 2026
Slide 38: Upcoming corporate events
Upcoming corporate events Date Event Broker Destination Broadcasting 17 March 2025 full-year results publication Basel, HQ Yes 18 March Non-deal roadshow ZKB Zurich 19 March Non-deal roadshow UBS Geneva 20 March Non-deal roadshow Octavian Frankfurt 24 March Non-deal roadshow UBS Paris 20 April Non-d
Slide 39: Analyst coverage: For independent research opinions
Analyst coverage: For independent research opinions Broker Analyst Email Telephone Octavian Sandra Dietschy sandra.dietschy@octavian.ch +41 44 518 08 27 Research Partners AG Ilya Burgansky ilya.burgansky@researchpartners.ch +41 44 533 40 30 Stifel Nicolaus Europe Ltd. Edward Hall ed.hall@stifel.com
Slide 40: Thank you!
THANK YOU! info@medartis.com +41 61 633 37 36 Hochbergerstrasse 60E 4057 Basel/Switzerland M E D A R T I S . C O M 41