Slide 1: Q1 2025 presentation
Q1 2025 presentation May 8, 2025 1
Slide 2: Today’s presenters
Today’s presenters Pär Svärdson Johan Mårild Sarah Ahnström CEO and Co-founder CFO COO and Deputy CEO Co-founded Apotea in 2011 Joined Apotea in 2022 Joined Apotea in 2019 2
Slide 3: Q1 2025 – Highlights
Q1 2025 – Highlights Q1 figures Improved profitability and solid 1,753.5 15.2% 5.3% growth in times of uncertainty Net revenue (SEKm) Net revenue growth (%) EBIT margin (%) 3
Slide 4: Quarterly update
Quarterly update • Increased market uncertainty. Net revenue and adjusted EBIT margin* R12M • Solid growth driven by stable underlying demand. 7 000 5% 6 500 4% • Increased profitability. 3% 6 000 2% 5 500 1% • Varberg expansion on track. 5 000 0% Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Net revenue R12 (SEKm)
Slide 5: Solid net revenue growth
Solid net revenue growth Net revenue development, SEKm Gross margin development, SEKm Rx % of net revenue OTC and traded goods % of net revenue Gross profit Gross margin (%) Services % of net revenue 1,754 1 000 40,0% 1,522 900 35,0% 2.3% 800 30,0% 2.1% 700 27.3% 27.7% 25,0% 600 59.1% 485 59.4% 500
Slide 6: Tight cost control and increased capacity utilisation
Tight cost control and increased capacity utilisation EBIT development, SEKm Operating costs and D&A, % of net revenue EBIT EBIT margin Other OPEX Personnel cost D&A 23.8% 22.7% 5.3% 2.1% 2.1% 4.1% 8.6% 7.5% 92 62 13.1% 13.1% Q1 '24 Q1 '25 Q1 '24 Q1 '25 • Margin improvement due to strengthened gross
Slide 7: Improved operating cash flow
Improved operating cash flow Cash flow development, SEKm Net working capital, SEKm Capex Cash flow from operating activities Other current assets 1) Accounts receivables Inventory Other current liabilities 1) Accounts payables 117 123 273 259 119 78 73 78 304 359 355 78 519 562 613 -652 -559 -626 15
Slide 8: Improved ROCE as a result of increased profitability
Improved ROCE as a result of increased profitability Return on capital employed (ROCE) Net debt (excl. IFRS 16) development, SEKm Interest-bearing debt (excl. IFRS16) Net indebtedness/EBITDA (excl. IFRS16) Cash and cash equivalents 0.2x 33.9% 62 0.0x 22.3% 2 82 15 -13 -21 Q1 '24 Q1 '25 Mar '24 Mar '
Slide 9: Our focus ahead
Our focus ahead Continue shaping the pharmacy of tomorrow – improve customer offering and efficiency • Navigate times of uncertainty - possibly affected inventory levels. • Launch the Varberg fulfilment centre. • Launch the new Rx hub in Stockholm. • Enabling efficiency gains through technology. 9
Slide 10: Q&A
Q&A 10