Slide 1: Q1 presentation
Q1 presentation May 2022
Slide 2: Rapidly growing ecosystem of ambitious entrepreneurs
Rapidly growing ecosystem of ambitious entrepreneurs ⁄ >700 employees globally ⁄ Offices in 36 countries ⁄ Serving >15,000 clinics GlobalOne ⁄ Reaching over 1,700 labs ⁄ 4,300 member clinics ⁄ >15k products in our portfolio Page 2
Slide 3: We have a global footprint and network of KOLs
We have a global footprint and network of KOLs Q1 22 Europe 46% 2021 Q1 22 USA 58% 48% 2021 35% Q1 22 APAC 6% 2021 7% Offices Vimian companies HQ (Stockholm, Sweden) Direct sales markets Page 3 * Revenue split based on Q1 2022 reported revenue
Slide 4: This is Vimian
This is Vimian We are a global animal health network currently covering four end-markets Specialty Pharma MedTech Diagnostics Veterinary Services 44% revenue 38% revenue 10% revenue 8% revenue ⁄ Allergy diagnostics & ⁄ Leading provider of ⁄ Livestock and companion ⁄ Membership platform for treatment
Slide 5: First Quarter 2022
First Quarter 2022 Page 5
Slide 6: Q1 Highlights
Q1 Highlights 55% Revenue growth / Strong growth and profitability / Successful annual order programme in MedTech 7.2% Organic revenue growth / Strengthened position in the global veterinary market / Fourth therapeutic area added to Specialty Pharma with Bova 30.2% Adjusted EBITA margin / Unlocked t
Slide 7: Group Financial Highlights Q1 2022
Group Financial Highlights Q1 2022 Revenue and Adj. EBITA Adj EBITA margin (%) Revenue (EURm) x% Organic growth (%) / Organic growth 7.2% despite very tough comparatives 70 67.9 45 65 40.5% 40 / Strong organic growth in MedTech and 60 55 Specialty Pharma 35 50 30.8% 48.7 45 43.7 30.2% 30 / Excluding
Slide 8: Vimian almost doubled in size over the past two years
Vimian almost doubled in size over the past two years Vimian Group Pro-Forma Revenues (EURm) 89% +50.0% 260 247 13 73 173 138 2020 2021 LTM pro- LTM pro-forma 31 forma per 31 March (including March 2022 all deals signed by 24 May 2022)* * This is not a reported number, LTM revenue (1 April 2021 – 31
Slide 9: Specialty Pharma
Specialty Pharma Q1 44% revenue / Continued strong growth and profitability / Exceptional pro-forma organic growth 31.7% / Strong growth contributors GlobalOne, Bova and allergy portfolio Revenue and Adj. EBITA LFL margin 30.0 30 expansion 40 35.0% 33.9% 35+3 p.p. 25 29.8% 30.0% 20.0 30.4% 30 20 16.
Slide 10: MedTech
MedTech Q1 revenue 38% / Strong first quarter boosted by annual order programme / Exceptional organic growth 23.9%, against strong Q1 2021 / Geographic expansion into APAC with Kahuvet acquisition Revenue and Adj. EBITA 49.1% Lower margin vs 30 50 Q121 reflects 25.6 25 consolidation of 40 three dist
Slide 11: Diagnostics
10% Diagnostics Q1 revenue / Solid quarter top and bottom line / Organic decline -34.5% due to phase-out of Covid sales / High feed prices, fewer disease outbreaks in some markets / Exciting development pipeline, evaluating new geographies Revenue and Adj. EBITA 10 48.0% 50 8.7 8 40 6.6 6.7 6 5.6 5.
Slide 12: Veterinary Services
8% Veterinary Services Q1 revenue / Recovery from Q4, positive trend in member recruitment / Organic growth 5.6%, positive response to new tiered membership / Margin impacted by investments in new markets, organisation and clinic consolidations / Entering the US, adding 1,100 members through Vertica
Slide 13: 8 acquisitions YTD with combined revenue EUR 39m
8 acquisitions YTD with combined revenue EUR 39m Acquisition Segment Geography Annual Sales Strategic Rationale Important milestone in our strategic ambition to add new therapeutic areas to Vimian’s Specialty Pharma segment. Acquisition of leading innovator in Specialty Pharma UK EUR 10m specialty p
Slide 14: Bova - adding fourth therapeutic area to Specialty Pharma
Bova UK Bova - adding fourth therapeutic area to Specialty Pharma Portfolio expansion / UK based specialty pharmaceuticals company, sales in 10 European markets / EUR 10m in revenues and 40% EBITDA margin Strengthen Geographic footprint in UK expansion / Leading innovator in market with significant
Slide 15: VerticalVet - Veterinary Services enters US and adds 1,100 new members
VerticalVet VerticalVet - Veterinary Services enters US and adds 1,100 new members Portfolio expansion / Procurement and support services to veterinary clinics in the US, EUR 5.5m in revenues Geographic / Entering US, one of the worlds largest veterinary markets with ~30,000 veterinary clinics expan
Slide 16: Everost/Spectrum – complementing MedTech portfolio
Everost/Spectrum – complementing MedTech portfolio Everost & Spectrum / Two product portfolios, veterinary surgical instruments and orthopedic implants, EUR 5.2m in revenues Portfolio expansion / Entry into a new product category with veterinary surgical instrumentation Geographic expansion R&D Chan
Slide 17: First Quarter Financials
First Quarter Financials Page 17
Slide 18: Income Statement
Income Statement EUR m 2022 2021 / Strong growth in revenue and adjusted EBITA Jan – Mar Jan – Mar / Operating profit EUR 11.2m, in line with last year Revenue 67,941 43,724 / Profit before tax of EUR 8.9m, lower than last year due Adjusted EBITA 20,504 17,714 to higher net financial items Operating
Slide 19: Cash Flow and Financial Position
Percent 2022 Jan-Mar 2021 Jan-Mar Delta Cash Flow and Financial Position / Cash conversion of 75% in Q1, reflecting strong cash Cash Conversion 75% 68% 7p.p generation in Vimian / Operating cash flow EUR 11.1m EUR m 2022 Jan-Mar 2021 Jan-Mar Delta / Strong increase in cash flow from operating activi
Slide 20: Net Debt and Leverage
Net Debt and Leverage Leverage Net Debt (EUR m) 280 266.5 6.0 / Net debt per 31 March 2022 amounted to EUR 266.5m 260 240 5.0 220 / Cash and cash equivalents EUR 99.7m 200 3.6x 4.0x / Increase in leverage reflects high pace of M&A since IPO 180 168.1 160 140 3.0x / Net Debt / LTM Pro-forma EBITDA 3.
Slide 21: Current trading and focus ahead
Current trading and focus ahead Page 21
Slide 22: Current trading
Current trading / Macroeconomic uncertainty and rising inflation / Commodity prices on the rise – Vimian secured inventory & supply / Companion animal health historically a resilient sector / Moderation of growth after exceptional periods in MedTech and Specialty Pharma / MedTech strong sales progra
Slide 23: New sustainability strategy approved by the Board in March
New sustainability strategy approved by the Board in March Together, we improve animal health Vision through science and technology for better lives ESG ambition Creating a global sustainability leader in animal health / PEOPLE / / ANIMALS / / PLANET / To be the most attractive employer in animal To
Slide 24: Our near-term focus
Our near-term focus / Further strengthen organisational capabilities to manage strong profitable growth / Integrate and realise synergies from acquisitions. Capitalise on emerging collaboration between the segments / Continue to extend M&A pipeline after period of intensive deal execution. Capture o
Slide 25: Q&A
Q&A Page 25