Uniphar Plc · EURONEXT:UPR
Uniphar — FY2025 Earnings Presentation
39 slides from Uniphar's earnings presentation, Feb 24, 2026
Slide 1: Solving problems for healthcare: FY 25 Preliminary Results Presentation
Solving problems for healthcare FY 25 Preliminary Results Presentation
Slide 2: Important Notice
This presentation has been prepared solely in connection with the financial results of Uniphar plc (the "Company") for the period ended 31 December 2025 and should be read in conjunction with the announcement of the interim results of the Company for the period ended 31 December 2025, released 24 Fe
Slide 3: Agenda
Agenda Overview & Highlights Call Participants 01 Ger Rabbette 02 Divisional Review Chief Executive Officer Tim Dolphin 03 Investment Update Chief Financial Officer 04 Financial Review Brian O'Shaughnessy Chief Commercial Officer 05 Capital Allocation & Investment Case Dermot Ryan Chief Operating Of
Slide 4: Overview & Highlights
Overview & Highlights 4
Slide 5: Uniphar at a glance
Uniphar at a glance A diversified international healthcare services provider Supporting 200 multinational pharmaceutical and medtech 200 manufacturers across €200m three divisions EBITDA target by 2028 Active in Europe, North America, 4 APAC and MENA At least80% of growth to be organic 160+ Deliveri
Slide 6: Solving problems for healthcare
Solving problems for healthcare Healthcare manufacturers Healthcare stakeholders Large pharma All of the top 10 Product approval Patients are Uniphar clients Pricing and payment Access key opinion leaders Doctors / Biotech consultants We are the leading global player in Cell Finding patients and Gen
Slide 7: Financial Highlights
Financial Highlights Strong progress towards in 2025 Organic growth across all divisions Organic gross Organic 8.9% profit growth EBITDA organic of 9% growth of 9% growth (€7m) €19m (€1m) €458m M&A FX €11m EPS growth ROCE of 16.3% of 21% above our 12- Pharma 15% target2 €8m Medtech €428m SC&R FY 24
Slide 8: Our strong track record since IPO
Our strong track record since IPO Gross Profit (€m) EBITDA (€m) 457.7 130.9 180.6 58.6 2019 2025 2019 2025 Margins (%) EPS1 (cent) Gross margin EBITDA margin 4.3 14.9 3.5 24.8 10.8 10.1 2019 2025 2019 2025 2019 2025 1. Adjusted EPS has been calculated based on 2025 weighted average shares in issue 8
Slide 9: Sustainability Highlights
Sustainability Highlights Sustainability is at the core of what we do and is deeply embedded in our business strategy Environment Social Governance • Climate Change • Our People • Business Conduct • Resource Use & Circular • Workers in our Supply Chain Economy • Our Patients Uniphar’s Uniphar ranks
Slide 10: Divisional Review
‘Divisional Review wie 10
Slide 11: 3 divisions serving our healthcare customers
3 divisions serving our healthcare customers Global Speciality Europe Speciality Ireland Mass market 29% 26% 45% High growth % of Group High growth % of Group Infrastructure % of Group gross profit gross profit play gross profit 11
Slide 12: Structural Drivers
Structural Drivers Supply chain Patient/HCP Biotech Large pharma complexity awareness Account for 85% of Increasingly focused Consolidation of generic Greater patient and global development on larger markets only manufacturing and HCP awareness of new pipeline and 60% greater product medicines avail
Slide 13: How Uniphar Pharma wins
How Uniphar Pharma wins Services for Support for speciality medicines Pharma/Biotech from pre-reimbursement access Customers through to peak sales Global platform Leveraging global capabilities and a common platform to deliver high value solutions to manufacturers and hospitals We accelerate patient
Slide 14: Providing access to unlicensed and specialty medicines globally
Providing access to unlicensed Growth drivers during 2025 and specialty medicines globally Revenue Gross profit • Double-digit organic growth led by strength in Global Revenue and Sourcing Gross Profit €691m €132m Reported Organic • Leading platform meeting high demand for shortages, Gross Profit un
Slide 15: Structural Drivers
Structural Drivers Large and fragmented Shift from direct Smaller players Portfolio change European market to indirect/hybrid lack infrastructure The total European Larger manufacturers are There are a growing number Manufacturers are Medtech distribution moving from direct to of small, innovative i
Slide 16: How Uniphar Medtech wins
How Uniphar Medtech wins High value specialisms; Orthopedics European platform Critical Care Full service medical device commercialisation model Leading Hospital medtech Interventional Expanding into new regions, specialties and services consultants manufacturers Diagnostic Imaging Multi-decade rela
Slide 17: Sales, marketing and distribution solutions for manufacturers
Sales, marketing and distribution Growth drivers during 2025 solutions for manufacturers • Strong organic growth across all regions Revenue Gross profit Revenue and Gross Profit €293m €120m • Growth in all specialities Reported Organic Gross Profit Growth 10.5% 10.5% • Travelled with existing suppli
Slide 18: How Uniphar SC+R wins
How Uniphar SC+R wins Buying groups Ireland only platform Franchise groups Leading player in the Irish pharmaceutical market Wholesale Retail market Direct pharmacy ownership market Vertically integrated across wholesale and retail channel leadership leadership Consumer brands Strong moat, high barr
Slide 19: Leader in the Irish pharmaceutical market
Leader in the Irish pharmaceutical market. Growth drivers during 2025 Supported by a network of 482 pharmacies1 • We continue to win market share in a Revenue Gross profit Revenue and growing Irish wholesale market Gross Profit €2,091m €205m • Strong wholesale growth across all categories Reported O
Slide 20: Investment Update
Investment Update 20
Slide 21: Infrastructure for €200m EBITDA and beyond
Infrastructure for €200m EBITDA and beyond Dublin, Ireland Lelystad, The Netherlands Ireland expansion: European expansion: • LEED Gold standard • BREEAM Excellent standard distribution centre distribution centre • 330k square feet • 85K square feet • 440,000 ambient • 10,000 ambient storage locatio
Slide 22: Flagship Irish Distribution Facility
Flagship Irish Distribution Facility Aging population Doubled our Transform customer Drivers market growth at market share in experience ≈2% annually 10 years to 50%+ Distribution Capabilities Capacity Reduces direct pick costs by Futureproof 50% & deliver better efficiency capacity by >2x Return 12
Slide 23: Irish Distribution Facility - Project Timeline
Irish Distribution Facility - Project Timeline Dec 24 Mar-Sept-25 Sept-25 Feb-26 July-26 Mechanical Warehouse Full Regulatory storage Go live install management performance & distribution commences completed system inbound/ test licensing process outbound testing & commissioning Apr-Dec-26 Apr-25 De
Slide 24: Financial Review
Financial Review 24
Slide 25: Financial Highlights
Financial Highlights Organic gross profit growth across all three divisions % Growth Constant 8.9% (€m) FY’25 FY’24 Reported Organic2 currency1 Organic EBITDA growth 9.0% Revenue 3,074.7 2,770.4 11.0% 11.1% Gross profit 457.7 427.6 7.0% 7.3% 8.9% Gross profit 14.9% 15.4% margin Double-digit adjusted
Slide 26: Divisional Performance
Divisional Performance Diversified healthcare services business Divisional Composition focused on higher margin opportunities 29% Gross profit EBITDA 2025 €457.7m 45% Growth Organic Growth GP €’m Margin €’m Margin % Growth % % 131.9 8.5% 15.5% 19.1% 30.6 20.5% 4.4% 26% 120.4 10.5% 10.5% 41.1% 49.1 8
Slide 27: Net Bank Debt Analysis
Net Bank Debt1 Analysis 46.9 €171.1m (25.1) Net bank debt at 31 Dec 2025 130.9 (37.8) (16.6) (17.5) €62.8m Capital Expenditure (23.1) (35.1) (147.7) €129.7m (46.0) (171.1) Free cashflow (FCF %: 99.1%) YE 2024 EBITDA Net Working Capex Strategic Tax Finance Lease Share Other2 YE 2025 Capital Capex Cos
Slide 28: FCF Conversion
FCF Conversion Free cash flow Free Cashflow (FCF) FY’25 FY’24 €’m 2028 Target 60-70% EBITDA 130.9 123.5 conversion at €200m Net Working Capital 46.9 49.5 Capital expenditure (25.1) (17.1) Lease payments (23.1) (25.6) We target FCF1 Reported free conversion of 60-70% cashflow during the at €200m EBIT
Slide 29: Capital Allocation & Investment Case
Capital Allocation & Investment Case 29
Slide 30: Creating shareholder value
Creating shareholder value Discipline and balanced investment approach Organic Investment Growth Through M&A Net Bank Debt Capital Allocation • Continue to invest in • Fundamental component of Not to exceed 2.5x in the • Progressive dividend reflecting infrastructure, digital compounding growth stra
Slide 31: M&A: Pipeline focus
M&A: Pipeline focus Acquisition Pipeline Criteria Retention of Cultural fit: Target ROCE Divisional management talent Innovative 12%-15% focus and expertise and ambitious within 3 years Market Access European distributors Independent across core specialities retail pharmacies Commercialisation platf
Slide 32: Ambition to deliver €200m EBITDA by 2028
Ambition to deliver €200m EBITDA by 2028 We expect over 80% EBITDA growth to be organic Group guidance | medium term metrics €200m >80% organic growth ROCE FCF Conversion Dividend At €200m M&A EBITDA Pharma 12% - 15% 60% - 70% Dividend Net Bank Debt / Medtech EBITDA not to €99m exceed SC&R Progressi
Slide 33: Investment Case
Investment Case Experienced Strong Compelling Each Clear Greater senior team, track record market division has pathway capabilities tried and tested opportunity in an attractive for success = bigger all 3 divisions competitive opportunities moat 33
Slide 34: Appendices
Appendices 34
Slide 35: Summary Management Balance Sheet
Appendices Summary Management Balance Sheet1 Balance Sheet (€’000) 31 Dec 2025 31 Dec 2024 Goodwill and acquired intangible assets 519,474 524,805 IFRS 16 Right of Use Asset 145,536 143,038 Other non-current assets 238,328 194,243 Total non-current assets 903,338 862,086 Inventory 295,276 201,582 Tr
Slide 36: Return on Capital Employed
Appendices Return on Capital Employed 12-Month Rolling 31 December (€’000) FY'23 FY'24 FY'25 Numerator Rolling 12 months operating profit 81,989 76,875 Adjustment for exceptional costs 3,161 14,557 Amortisation of acquisition related intangibles 3,428 3,371 Adjusted 12 months operating profit 88,578
Slide 37: Summary Group Financial Information
Appendices Summary Group Financial Information Twelve months ended 31 December (€’000) FY’25 FY'24 Reported % Growth Revenue 3,074,704 2,770,429 11.0% Gross profit 457,692 427,604 7.0% Overheads & operating income1 (326,783) (304,146) 7.4% EBITDA 130,909 123,458 6.0% Depreciation & amortisation (35,
Slide 38: EBITDA Reconciliation
Appendices EBITDA Reconciliation EBITDA is earnings before interest, tax, depreciation, amortisation, share-based payments and exceptional items Twelve months ended 31 December (€’000) FY'25 FY'24 Operating profit pre-exceptional 91,432 85,150 Share-based payments 3,766 2,944 Depreciation 28,590 29,
Slide 39: Contact Details
Contact Details Allan Smylie Head of Strategy and Investor Relations +353 (0)1 428 7777 investor.relations@uniphar.ie Q4 PR Public Relations Adviser to Uniphar Iarla Mongey +353 (0)1 475 1444 39