Medacta Group Sa · SIX:MOVE
Medacta Group Sa — H1 2025 Earnings Presentation
24 slides from Medacta Group Sa's earnings presentation, Sep 8, 2025
Slide 1: H1 2025 Results
H1 2025 Results SUSTAINABLE INNOVATION, WORLD-CLASS SURGEON EDUCATION, AND AN UNWAVERING COMMITMENT TO IMPROVING PATIENT OUTCOMES 08 September 2025
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Medacta operates; manufacturing or logistics disruptions; the impact of Group SA (“Medacta” and together with its subsidiaries, “we”, “us” or fluctuations in foreign exchange rates; and such other factors as the “Group”). The inf
Slide 3: Francesco Siccardi, Chief Executive Officer
FRANCESCO SICCARDI Chief Executive Officer
Slide 4: Highlights – H1 2025 Results
Highlights – H1 2025 Results H1 2025 revenue in EUR Adjusted EBITDA margin** 344.1 m 29.6 % in c.c. * 19.8 % growth in c.c.* 28.7 % in EUR Adj. EBITDA of EUR 98.8 m Net profit of EUR 60.0 m Outlook 2025 and mid-term rise of 27.5% over H1 2024, or increase of 58.0 % over H1 2024, or 28.7 % of revenue
Slide 5: Considerable above-market revenue growth
Considerable above-market revenue growth 400 350 300 • H1 2025 revenue growth* of 250 19.8% yoy Revenue in EUR m 200 • Revenue CAGR* (H1 2021 - H1 150 2025) of 17.6% 100 • Outgrowing market** on Group level by more than 4.5x 50 0 H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 5 Notes * In constant currency
Slide 6: Medacta’s success pillars for above-market growth
Medacta’s success pillars for above-market growth Out-of-the-box thinking innovations 1 with aim to improve patient outcome and healthcare sustainability Education and personalized training of surgeons 2 thereby acquiring new surgeons across all business lines Expansion of team 3 to further progress
Slide 7: Superior growth across all geographies
Superior growth across all geographies H1 2025 geographic revenue distribution 19.8%* LATAM EUR 7.6m, 2.5 345.9 344.1 2% 13.8 18.3 22.7 288.6 -1.8 APAC Revenue in EUR m EUR 66.7m, 19% EMEA EUR 15.8% 21.5% 25.3% 47.7% 167.7m, NORAM 49% Growth rate in constant currency EUR 102.3m, 30% H1 24 EMEA NORAM
Slide 8: Clear market outperformance across all business lines
Clear market outperformance across all business lines H1 2025 revenue distribution by business line 19.8%* 345.9 344.1 Spine 10.9 4.5 EUR 28.5m, 27.7 14.2 Extremities** 8% 288.6 -1.8 EUR 35.7m, Revenue in EUR m 10% Hip, EUR 137.0m, 40% 11.5% 23.8% 44.0% 18.7% Knee Growth rate in constant currency EU
Slide 9: Magnificent double-digit growth in Hip
Magnificent double-digit growth in Hip 160 140 120 Revenue in EUR m 100 80 60 40 20 0 H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 Hip – H1 2025 • Growth mainly attributable to Medacta’s Anterior Minimally Invasive Surgery (AMIS) platform • Outstanding growth in North America and APAC • Almost 3x above-m
Slide 10: Sustained notable expansion in Knee
Sustained notable expansion in Knee 160 140 120 Revenue in EUR m 100 80 60 40 20 0 H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 Knee – H1 2025 • Outstanding performance due to Medacta’s personalized Kinematic Alignment platform MyKA and GMK SpheriKA • All geographic regions growing ≥ 20% in c.c.* • > 5x
Slide 11: Accelerating growth in Spine
Accelerating growth in Spine 35 30 Revenue in EUR m 25 20 15 10 5 0 H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 Spine – H1 2025 Selection of pre-contoured rods • Solid revenue acceleration strongly supported by Medacta’s technologies, particularly by MySpine and NextAR Spine • Particularly strong perfor
Slide 12: Continued outstanding growth in Extremities
Continued outstanding growth in Extremities 40 35 30 Revenue in EUR m 25 20 15 10 5 0 H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 Extremities – H1 2025 • Expansion primarily due to Medacta Shoulder System, supported by advanced technologies such as MyShoulder and NextAR • Sportsmed portfolio strengthene
Slide 13: Corrado Farsetta, Chief Finance Officer
Corrado Farsetta Chief Finance Officer
Slide 14: Gross profit rising by approx. 19%
Gross profit rising by approx. 19% 250 235.1 197.7 • Gross profit of EUR 235.1 m vs. 200 Gross profit in EUR m EUR 197.7 m in H1 2024, an increase of 18.9% yoy 150 • Gross profit margin was 68.3% 100 compared to 68.5% in H1 2024 50 0 H1 2024 H1 2025 14 Notes Definitions of Alternative Performance Me
Slide 15: Adj. EBITDA margin augmenting to 29.6%
Adj. EBITDA margin augmenting to 29.6% * • Adj. EBITDA of EUR 98.8 m 29.6% compared to EUR 77.5 m in H1 120 26.9% 28.7% 30% 2024, an increase of 27.5% yoy 98.8 100 25% • Adj. H1 2025 EBITDA margin of Adj. EBITDA in EUR m Adj. EBITDA margin 80 77.5 20% 29.6% yoy in constant currency and 28.7% in EUR
Slide 16: Net profit increasing by approx. 58%
Net profit increasing by approx. 58% 70 60.0 • Profit before tax was EUR 68.6 m 60 compared to EUR 44.7 m in H1 Net profit in EUR m 50 2024 40 38.0 • Effective tax rate of 12.5% vs 14.9% 30 the prior year 20 • Net profit for the period was EUR 10 60.0 m compared to EUR 38.0 m, or 17.4% of revenue in
Slide 17: CAPEX driving growth and expansion
CAPEX driving growth and expansion • Total CAPEX was EUR 64.4 m compared to EUR 54.0 m in H1 2024, as Medacta Financial continues to invest in growth Instruments EUR 5.3 m EUR 36.2 m Other intangibles • Investments in instruments were EUR EUR 2.6 m 36.2 m and other tangibles were EUR 15.4 m; these t
Slide 18: Operating cash flow advancing by more than 74%
Operating cash flow advancing by more than 74% • Cash flow from operating activities increased by 74.3% to EUR 73.0 m compared to EUR 41.8 m in H1 2024 (EUR m) • Cash flow from investing activities was EUR 64.4 m vs. EUR 54.0 m in the prior Cash Flow H1 2025 H1 2024 year mainly reflecting a) investm
Slide 19: Maintaining a strong balance sheet
Maintaining a strong balance sheet Net debt / adj. EBITDA (x) 1.2 0.99 1.0 0.90 Net debt / adj. EBITDA (x) 0.8 • Sustained solid balance sheet • H1 2025 net debt / adj. EBITDA 0.6 was 0.90x, slightly lower than 0.99x at the end of 2024 0.4 • Net debt / adj. EBITDA on 0.2 average at 0.95x over the pa
Slide 20: Francesco Siccardi, Chief Executive Officer
FRANCESCO SICCARDI Chief Executive Officer
Slide 21: Outlook
Outlook Outlook 2025 Medacta is targeting a revenue growth in the range of 16% to 18% in constant currency and an adjusted EBITDA margin of around 28% before any currency effects, including the recent Parcus acquisition, subject to unforeseen events. Mid-term outlook Revenue compound annual growth r
Slide 22: Key messages
Key messages • Significant above-market H1 2025 revenue growth of 19.8% yoy in constant currency as result of • Out-of-the-box thinking innovations to improve patient outcome and healthcare sustainability • Education and personalized training of surgeons • Further expansion of sales reps and team •
Slide 23: Thank you
Thank you to all our employees, clients, suppliers and partners worldwide.
Slide 24: Calendar 2025
Calendar 2025 Date Event Location 08. September H1 2025 Results 10. September Morgan Stanley Global Healthcare Conference New York 11. September Roadshow Canada Montréal 02. October Production Site Visit Rancate 14. October Roadshow Paris Paris 15. October Roadshow Geneva Geneva 06. November ZKB Swi