Biomerieux Sa · EURONEXT:BIM
Biomerieux Sa — H1 2025 Earnings Presentation
25 slides from Biomerieux Sa's earnings presentation, Sep 4, 2025
Slide 1: H1 2025 Results & 2025 outlook
H1 2025 Results & 2025 outlook Pierre BOULUD CHIEF EXECUTIVE OFFICER Guillaume BOUHOURS CHIEF FINANCE OFFICER September 2025 PIONEERING DIAGNOSTICS
Slide 2: Agenda
Agenda 01 H1 2025 – Key Highlights 02 H1 2025 – Business Highlights 03 H1 2025 - Financial Performance 04 2025 Outlook B I O M É R I E U X
Slide 3: Disclaimers
Disclaimers This presentation contains information, assumptions and estimates that were used by the Company to determine its objectives on a reasonable basis. They are subject to change or modification due to economic, financial, medical and competitive uncertainties in markets addressed by bioMérie
Slide 4: H1 2025 Key Highlights
H1 2025 KEY HIGHLIGHTS PIONEERING DIAGNOSTICS
Slide 5: H1 2025 Key Highlights
H1 2025 – Key Highlights FREE SALES CEBIT1 CASHFLOW H1 25 €2,044m €372m €170m 18.2% of sales Net Debt / EBITDA: 0.1x 2 2 vs H1 24 +9.4% +23.7% x3.4 ▪ Strong sales performance in a turbulent environment driven by a double-digit growth in both the GO28 growth drivers and BIOFIRE® respiratory panels ▪
Slide 6: Significant achievements toward GO.28 ambitions
H1 2025 – Significant achievements toward GO.28 ambitions MULTIPLE PRODUCTS’ COGS AND G&A STRONG EMPLOYEES' ON TRACK TO REACH LAUNCHES IMPROVEMENTS ENGAGEMENT THE CSR AMBITION BIOFIRE® GI MIDPLEX & WATCHFIRE MANUFACTURING -27% SPOTFIRE® INSOURCING VETFIRE VITEK® MS PRIME, ENZYMES IN GHG ABSOLUTE 8.4
Slide 7: H1 2025 Business Highlights
H1 2025 BUSINESS HIGHLIGHTS PIONEERING DIAGNOSTICS
Slide 8: BIOFIRE non-respiratory panels continued expansion
Growth Driver #1 BIOFIRE® non-respiratory panels continued expansion +10% GO.28 target: +10%** * ▪ Strong performance balanced across panels & regions ▪ Broad menu : GASTROINTESTINAL, MENINGITIS, JOINT INFECTION, PNEUMONIA, BLOOD CULTURE INFECTION, TROPICAL FEVER, WATCHFIRE ▪ Continued Innovation: l
Slide 9: SPOTFIRE up +143%, success in Point of Care
Growth Driver #2 SPOTFIRE® up +143%, success of the solution in Point of Care ▪ Unique features €79m GO.28 target: €450m * • Fast: 15 minutes Time To Result • Easy to use: CLIA waived • Comprehensive Respiratory • Respiratory: 5-plex & 15-plex • Respiratory Sore Throat (incl. Strep A): 5-plex & 15-p
Slide 10: Microbiology: H1 performance impacted by China
Growth Driver #3 MICROBIOLOGY: H1 25 performance impacted by China +3.3%* GO.28 target: +6/8%** ▪ +6% sales growth excluding China • Mid-teens decline in China (global pressure on hospitals spend impacting volumes) ▪ Building on our leadership position • Market share gain • Strong dynamic in instrum
Slide 11: Industrial applications growing above GO•28 ambition
Growth Driver #4 INDUSTRIAL APPLICATIONS growing above GO•28 ambition +10% GO.28 target: +7/9%** * ▪ Very strong dynamic in Pharma Quality Control segment • Reagents sales up +15% • Equipment sales up close to +30% ▪ Leveraging on innovation and an active presence in fast growing markets • BIOFIRE®
Slide 12: BIOFIRE respiratory panels performance
BIOFIRE® respiratory panels performance driven by the strong Q1 25 respiratory season BIOFIRE +12%* ▪ Leveraging the BIOFIRE® installed base, especially in Q1 GO.28 target: flat** Respiratory Panels with a very high epidemiological activity H1 25 Sales: ▪ Limited price erosion (<2%) €447m*** -9%* ▪
Slide 13: H1 2025 Financial Performance
H1 2025 Financial Performance PIONEERING DIAGNOSTICS
Slide 14: H1 2025 sales growth by business
H1 2025 sales: a dynamic +9.4% sales growth driven by Molecular and Industrial Applications Sales growth % are expressed at constant exchange rate SPOTFIRE €79m (+143%) ▪ 4,600 instruments installed at the MICROBIOLOGY +3% end of June 2025 ▪ +6% outside of China ▪ VITEK® & BACT/ALERT ® sales up high
Slide 15: H1 2025 sales by geography
H1 2025 sales by geography EMEA +4%* NORAM +15%* €638m 31% of sales €960m Double digit sales growth in BIOFIRE® 47% of sales non-RP & blood Robust BIOFIRE® culture reagents sales growth & sustained SPOTFIRE ® adoption ASPAC +2%* LATAM €317m +17%* 16% of sales €129m Clinical sales up double-digit in
Slide 16: H1 2025 P&L: reported CEBIT up +24%
HY 2025 P&L: reported CEBIT up +24% H1 % H1 % % % In €m sales sales Change Change LFL(1) 2025 2024 Net sales 2,044 1,902 + 7.5% + 9.4% Gross profit 1,167 57.1% 1,063 55.9% + 9.8% + 11.0% SG&A -569 - 27.8% -536 -28.2% + 6.1% + 7.7% R&D -249 - 12.2% -241 -12.7% + 3.6% + 2.8% CEBIT (2) 372 18.2% 306 16
Slide 17: Contained SG&A increase and limited headcounts
The 50+ initiatives under the GO•SIMPLE pillar are being deployed and are starting to deliver efficiency Limited Headcounts Contained SG&A evolution increase COGS SUPPORT FUNCTIONS COMMERCIAL OPERATIONS • Internalization: VITEK® MS • Design of the new HR • “Launch Excellence” Prime, Enzymes operatin
Slide 18: P&L: CEBIT to EPS
H1 2025 P&L: CEBIT to EPS H1 % H1 % % change In €m sales sales 2025 2024 as reported CEBIT 372 18.2% 306 16.1% +21.5% Amortization of acquired intangible assets & related -163 -18 expenses Operating income before non-recurring items 209 10.2% 288 15.2% -27.6% Net financial income 4 -5 Income tax (ef
Slide 19: Free cash flow: up +€120m vs H1 2024
FREE CASH FLOW: up +€120m vs H1 2024 • Inventories (-€25m) driven by inventory build- Millions € June 2025 June 2024 up for manufacturing internalization and BACT/ALERT ® raw materials replenishing EBITDA (1) 495 424 • Receivables (+€59m): efficient cash collection Working capital requirement - 75 -
Slide 20: 2025 Outlook
2025 Outlook PIONEERING DIAGNOSTICS
Slide 21: Tariffs: limited impact on 2025 performance
TARIFFS – Limited impact on 2025 performance ▪ A threefold exposure to tariffs • 15% of products sold in the US are • Microbiology instruments imported from Europe and VITEK® reagents sold • US import of some raw materials in China are imported from used in the US manufacturing the US process ▪ A ~-
Slide 22: 2025 full year revised guidance
2025 FULL YEAR REVISED GUIDANCE UPDATED GUIDANCE ASSUMPTIONS • BIOFIRE® non RP +10%* • SPOTFIRE® ~€190m, +6% to +7.5% • Microbiology ~+3%* (previously ~+7%*), SALES Organic • Industrial Applications ~+9%* (previously ~+8%*) was “at least +7%*” • Immunoassays <-5%* (previously ~flat*) • BIOFIRE® resp
Slide 23: Pioneering Diagnostics
PIONEERING DIAGNOSTICS B I O M É R I E U X
Slide 24: Appendix
Appendix PIONEERING DIAGNOSTICS
Slide 25: On track to reach CSR objectives
ON TRACK TO REACH CSR OBJECTIVES All data as of June 2025, except for Philantropy & referenced antibiotics (Dec 24 data) PLANET EMPLOYEES HEALTHCARE EXTENDED HEALTH ECOSYSTEM COMPANY Collaboration projects +20% -27% Lost Day Incident Rate with patient associations 1.7% vs. 2021 of net income Group s