Siegfried Holding Ag · SIX:SFZN
Siegfried — FY2025 Earnings Presentation
26 slides from Siegfried's earnings presentation, Feb 20, 2026
Slide 1: Siegfried delivers strong profitability and continued growth
Siegfried delivers strong profitability and continued growth Full-Year Results 2025 Zurich, February 20, 2026
Slide 2: Safe harbor statement
Safe harbor statement This document is solely for use in connection with the presentation held by Siegfried Holding AG. It is furnished to you for your information only and you may not reproduce or redistribute it to any other person. No representation or warranty, express or implied, is made to, an
Slide 3: Key highlights full-year 2025
Key highlights full-year 2025 Strong financial performance across all key financial metrics Net sales Core EBITDA margin Outlook 20262 Net sales CHF 1,327.8 million 23.5%1 Drug Products: + 4.3% in LC Prior year: 22.1% High-single-digit growth (LC) + 2.6% in CHF Drug Substances: Low-single-digit grow
Slide 4: Operational highlights 2025
Operational highlights 2025 Safety, supply reliability and quality are our licenses to do business Safety Performance and supply reliability Quality Compared to 2024 Certified to deliver to -25% Class A >180 lost time injury frequency rate countries Our health and safety program Full focus on maximi
Slide 5: Sustainability highlights 2025
Sustainability highlights 2025 We translate our sustainability actions into a competitive advantage We continued to reduce our We help our customers to reduce Supply chain integrity environmental footprint their environmental footprint -47% -50% 67% of carbon emissions reduced1 reduction of energy a
Slide 6: Strategy execution highlights 2025
Strategy execution highlights 2025 Targeted technology upgrades to capture growth opportunities Drug product expansions Large-scale API manufacturing Manufacturing facility for viral vectors ES DE DE CH El Masnou and Barberà Hameln Minden DINAMIQS – Expansion of production capacity for – Transfers u
Slide 7: Financial update
Financial update 7 | Full-Year 2025
Slide 8: FY 2025: Another year of continued growth
FY 2025: Another year of continued growth A reflection of the strength of our diversified customer portfolio across multiple markets Net sales FY 2025 vs FY 2024 Currency split FY 2025 CHF million FY 2025 FY 2024 Change 37% Drug Substances 916.3 891.9 +2.7% (+4.3% in LC) EUR 50% USD Drug Products 41
Slide 9: Reconciliation for FY 2025
Reconciliation for FY 2025 From Swiss GAAP FER to core results CHFm Adjustments to core EBITDA CHF -6.3m 318.5 320 312.3 310 -6.3 Core numbers / core adjustments − Discount rate effect on foreign pension plan 300 (CHF -9.9m) 290 280 − Current net interest on foreign pension plan 270 (CHF 2.9m) 260 2
Slide 10: Profitable growth across the macro cycles
Profitable growth across the macro cycles Driven by continuous capacity expansion, smart acquisitions and structural margin expansion Net sales in CHFm and core EBITDA margin Comments Inflation Geopolitics, CCY − Resilient growth across macro cycles (COVID, inflation, COVID De-stocking supply disrup
Slide 11: Strong margin expansion drives higher profitability
Strong margin expansion drives higher profitability Margins at all levels reached new highs Comments CHFm 1,400 +2.6% − Resilient, well diversified business portfolio: 2024 Profitability further increased 1,327.8 2025 1,294.6 − Growth of net sales translates into 1,300 Margin in % +7.6% substantial
Slide 12: Diversification drives resilience
Diversification drives resilience Diversified customer and product base supports growth Customer diversification Life-cycle diversification Product diversification Top product (6%) Customer 1 (13-17%) Product 2-10 (26%) Others (44%) Customer 2 (10%) Phase 2 (1%) CHF Preclinical / Phase 1 (<1%) Phase
Slide 13: FY 2025: Profitability further increased
FY 2025: Profitability further increased Increased profitability through operational excellence, portfolio optimization and cost discipline CHF million FY 2025 FY 2024 Comments Net sales 1 327.8 1 294.6 Cost of goods sold -973.8 -965.5 – Core gross profit further increased, driven by portfolio optim
Slide 14: Significant improvement in operating cash flow
Significant improvement in operating cash flow CHF million FY 2025 FY 2024 Comments Operating cash flow before changes in NWC 322.1 268.0 – Strong operating cash flow of CHF 228.2m, up 35% year-on- Change in NWC -93.9 -99.2 year, driven by higher profitability and disciplined working Operating cash
Slide 15: Well positioned to capture long-term growth
Well positioned to capture long-term growth 15 | Full-Year 2025
Slide 16: Our strategy EVOLVE+
Our strategy EVOLVE+ Paving the way to outpace market growth across our key segments EVOLVE+ Broaden our Grow existing core Enter and grow new areas technological offering Small molecules (DS and DP) DS antibodies Advanced production technologies End-to-end offering of DS and DP Cell and gene therap
Slide 17: Our recent acquisition doubles down on the long-term growth trends
Our recent acquisition doubles down on the long-term growth trends Structurally high demand meets limited US capacities + Demand push Constrained supply EVOLVE – Re-shoring and supply chain – Less than 15 large-scale resilience initiatives Structural bottleneck chemical CDMO sites in US – Largest ph
Slide 18: Acquisition significantly strengthens our footprint in the US
Acquisition significantly strengthens our footprint in the US Exceptional US-based capacity further enhances our customer offering Comprehensive drug substances offering US footprint passes critical size: 5 sites and 700 employees Wilmington and Pennsville – Complementary pharma manufacturing cluste
Slide 19: Unique opportunity: 6 to 8 years head start over greenfield projects
Unique opportunity: 6 to 8 years head start over greenfield projects Integration team fully mobilized to unlock the full value of the acquisition Timeline for Wilmington site ramp up Comments – Experienced team of 15 workstream 2026 2028 2030 leaders, most of them already involved with the integrati
Slide 20: Acquired US sites further strengthen our global drug substances network
Acquired US sites further strengthen our global drug substances network Unique offering: from preclinical to commercial and with dual supply points ensuring supply chain resilience Each site has a dedicated purpose covering the entire lifecycle Preclinical Phase 1 Phase 2a Phase 2b Phase 3 Commercia
Slide 21: New emerging trends are driving higher molecular complexity
New emerging trends are driving higher molecular complexity Increasing demand for complex small-molecule APIs and advanced OSD capabilities Emerging trends Complex molecules increase demand for advanced CDMO services Therapeutic areas: Mechanisms of action: More synthesis Number of steps reactor hou
Slide 22: Capital allocation framework for long-term value creation
Capital allocation framework for long-term value creation Laser focus on margin expansion and M&A Value accretive M&A Dividends − M&A is always on Strong top- − Disciplined pay-out ratio line growth − Committed dividend program − Adding – Scale − Growth in dividend per share at a CAGR – Abilities of
Slide 23: Siegfried is set to outpace market growth across key segments
Siegfried is set to outpace market growth across key segments Onwards and upwards, step-by-step and year after year Outlook 20261 Positive mid-term outlook confirmed Net sales: Drug Products: High-single-digit growth (LC) Continued profitable growth Stepwise expanding Drug Substance: above market (e
Slide 24: Q&A
Q&A 24 |
Slide 25: Thank you for your attention
April 16, 2026 Annual General Meeting August 21, 2026 Half-Year Results Thank you for your attention 25 |
Slide 26: Thank you for your attention
Siegfried | Thank you for your attention