Slide 1: Q4 presentation February 2024
Together, we improve animal health through science and technology for better lives Q4 presentation February 2024
Slide 2: Q4 highlights
Q4 highlights 9% Total revenue growth / Solid organic growth driven by Specialty Pharma and Veterinary Services 7% Organic revenue growth / Strong growth in adjusted EBITA and improved underlying margin supported by efficiency measures / Strong cash flow from operating activities 26% Adjusted EBITA
Slide 3: A year of strong organic growth and improved margin
A year of strong organic growth and improved margin Revenue and Adj. EBITA Q4 development Adj EBITA (EURm) Revenue (EURm) x% Adj EBITA margin x% Organic growth (%) / Solid organic growth of 7% / Contribution from acquisitions 5% – one bolt-on +18% acquisition closed 350 331.7 90 87,3 80 / Negative F
Slide 4: Specialty Pharma
Specialty Pharma 10% Organic growth / Solid organic growth 10%, double-digit growth in Specialised Nutrition, Dermatology and European Allergy Test & Treatments / Efficiency measures supports improving underlying profitability 46% Adj. EBITA growth / Bolt-on acquisition of US dermatology portfolio (
Slide 5: MedTech
MedTech 1% Organic growth / Low organic growth 1% due to slightly softer trading in US / Continued strong high-single digit growth organic growth in Europe and acceleration in APAC reaching double-digits -8% Adj. EBITA decline / Full year solid 10% organic growth and stable margin / 28 on-site surge
Slide 6: Veterinary Services
Veterinary Services 22% Organic growth / Continued double-digit organic growth with strong execution in all geographies 109% / High recruitment pace with 500 new members and good conversion to Adj. EBITA growth higher membership tiers / Co-owned clinics (~40% of revenue) delivers 8% growth, which is
Slide 7: Diagnostics
Diagnostics -5% Organic decline / Organic decline 5% reflects lower levels of outbreaks and heard testing in key regions, primarily DACH / 9% full-year organic growth excluding impact of Covid-sales in 2022 -9% Adj. EBITA decline / Lower profitability in the quarter reflects lower sales and investme
Slide 8: Quarterly ESG highlights
Quarterly ESG highlights / CSRD double materiality completed and approved by Board of Directors / Supply chain – centralized access to supplier data, established processes for screening / Emissions - scope 3 emission data extracted and under analysis for FY2023 reporting Page 8
Slide 9: Fourth Quarter Financials
Fourth Quarter Financials Page 9
Slide 10: Q4 Income Statement below EBIT
EUR m Q4 2023 October – Q4 2022 October – 2023 January – 2022 January – Q4 Income Statement below EBIT December December December December / Reported EBIT EUR 2.7m (11.4) Adjusted EBITA 22.6 18.0 87.3 73.4 Adjusted EBITA / Excluding a EUR 8m negative impact from adjusting the 27.5% 23.9% 26.3% 26.1%
Slide 11: Net Debt and Leverage
Net Debt and Leverage Leverage Net Debt (EUR m) / Net debt per 30 December 2023 EUR 285.6m 350 340 341 325 293 296 / Cash and cash equivalents EUR 37.5m 300 288 285 275 267 4.3x 258 250 4.1x / Repayment of external debt of EUR 18.5m in Q4 225 3.6x 200 3.1x 3.1x 3.0x / Net Debt / LTM Pro-forma EBITDA
Slide 12: 2023 highlights
2023 highlights 18% Total revenue growth / Strong organic growth ahead of the industry / Stable adjusted EBITA margin - focus on efficiency and optimal processes in all entities 11% Organic revenue growth progress / Solid cash flow from operating activities EUR 37.1m* 19% Adjusted EBITA growth / Fur
Slide 13: Current trading update
Current trading update / High-single digit growth for the Group in January / Continued strong growth in Specialty Pharma and Veterinary Services / Compared to last year’s extended AOP programme in MedTech, we will run a normal AOP programme in 2024 which will balance growth and margin through the ye
Slide 14: Our mission is to support veterinary professionals across the globe
Our mission is to support veterinary professionals across the globe with industry- leading solutions, immersive education, and best-in-class service so they can deliver the best outcome for their patients. February 2024
Slide 15: Achievements since the IPO
Achievements since the IPO >2x Movora at IPO Movora today total revenue growth since IPO Commentary L12M EUR 54m pro-forma FY23 EUR 114m reported ▪ Organic growth CAGR 15% revenue revenue ▪ Strategic portfolio acquisitions 3 product brands 10 product brands ▪ Organically entered new categories ▪ Acq
Slide 16: The broadest product range in orthopedics
The broadest product range in orthopedics Hip Solutions Stifle Solutions Other Stifle 35% Sales 39% Solutions FY23 Ankle Solutions Fracture & €114m Specialty Solutions Elbow Solutions 10% Total Joint 16% Solutions Fracture & Specialty Solutions Surgical Solutions Instrumentation Surgical Power Imagi
Slide 17: Global reach, local presence
Global reach, local presence Freelance Surgical Movora France Movora Europe HQ Education Lab Montreuil, France Education Lab Bristol, United Kingdom Zurich, Switzerland APAC ▪ 4 own training BeNeLux Nordics Movora Education Center centres Boston, Massachusetts DACH 15% Movora Canada Iberia Mississau
Slide 18: Our potential
Our potential 1 Growing willingness to pay, driven by humanization of pets and insurance levels 2 Evolving awareness among pet owners, being informed by vet or online 3 Increased knowledge among veterinarians through post-university education
Slide 19: Education drives the market and is key for growth
Over 100 in-person workshops per year From simple fracture repair to complex total joint replacement 4 state-of-the-art training facilities Online learning platform Performing education at the fully Enables learning wherever at equipped Movora Education everyone’s own pace Center 1500+ training part
Slide 20: Four-pronged growth strategy
Four-pronged growth strategy 20
Slide 21: Building a global leader in veterinary MedTech
Building a global leader in veterinary MedTech Global leader in veterinary MedTech Enter new MedTech area and replicate success Reach full potential in orthopedics 21
Slide 22: Q&A
Q&A Page 22