Medartis Holding Ag · SIX:MED
Medartis — H1 2025 Earnings Presentation
31 slides from Medartis's earnings presentation, Aug 19, 2025
Slide 1: 2025 Half-year results
2025 | Half-year results Matthias Schupp, CEO | Dirk Kirsten, CFO Basel, 19 August 2025
Slide 2: Disclaimer
Disclaimer This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Medartis Holding AG. This publication may contain certain forward-looking statements and assessments or intentions concerning the company and its business. Such statements involve
Slide 3: Agenda
Agenda 1 Opening remarks and highlights H1 2025 Matthias Schupp, CEO 2 Financial review Dirk Kirsten, CFO 3 Strategic direction: from head to toe Matthias Schupp, CEO 4 Outlook FY 2025 Matthias Schupp, CEO 5 Upcoming corporate events 3
Slide 4: Highlights H1 2025
Highlightes H1 2025 Matthias Schupp, CEO 4
Slide 5: Half-year 2025 | Key highlights
Half-year 2025 │Key highlights Organic revenue NeoOrtho KeriMedical Guidance growth integration partnership FY 2025 +15.3% CER On plan US entry 14-16% CER − Total sales reached − NeoOrtho integration in − We secured the − Following satisfying trend in CHF 123.0 million, Brazil on plan remaining 53%
Slide 6: Management team completed
Management team completed Marc Ammann − appointed EVP R&D and Innovation – an internal successor with 20 years of orthopeadic expertise and profound company knowledge ⎼ leveraging Marc's expertise to expand our digital portfolio and advance in-house innovations as orthopaedics enters the digital tra
Slide 7: One Team
ONE TEAM CEO MATTHIAS SCHUPP Executive Management Board KeriMedical Advisory Board Assistant CEO – Board Secretary Cold Fusion Brazil Lead ANTONIETTA FASOLIN DOUGAL BENDJABALLAH & BERNARD PRANDI FREDERICO RINKE COO CFO President US President EMEA CHRO EVP R&D MARIO DELLA CASA DIRK KIRSTEN DAVID THON
Slide 8: All markets returned to growth; US and EMEA key growth contributors
All markets returned to growth; US and EMEA were the key growth contributors Sales in million CHF and core organic growth yoy Total +14.1% (CER) Organic +15.3% (CER) 1.0 123.1 2.2 122.1 2.2 0.7 119.9 3.6 9.3 111.5 -3.8 -3.7 104.1 16.0% 16.2% 14.9% 8.2% Reported NSI 3rd FX FX-adj H1 EMEA US 1 APAC LA
Slide 9: All segments with double-digit growth
All segments with double-digit growth Sales breakdown by segment (inside) − Upper extremities growth driven by TOUCH as well as and H1 2025 organic growth in % (outside) dorsal olecranon and clavicle product launches 10.3% − TOUCH and NX Nail portfolio continue strong growth trajectory 15% − CCS scr
Slide 10: Financial review
Financial review Dirk Kirsten, CFO
Slide 11: Half-year 2025 | Key financials
Half-year 2025 │Key financials Gross profit margin EBITDA margin Cash position +80.7% core 17.8% core CHF 120.5milion − Gross margin softened due to adverse − EBITDA margin sustained at 17.8% − Strong cash balance as of June 2025 FX impact and US tariffs (each 0.5 PP) despite pressure from CHF after
Slide 12: Gross margin | Core margin 2.1PP softer
Gross margin | Core margin 2.1PP softer primarily due to US tariffs, FX and product mix in % of net sales, rounded -2.1 PP − H1 gross margin 3.0% 82.8 -0.1% -0.8% impacted by FX and new -0.5% US tariffs (each -0.5 PP) -0.4% -0.3% 80.7 -1.2% 80.3 -0.5% − KeriMedical margin 79.5 impact will revert in
Slide 13: US tariffs | H1 impact and H2 Outlook
US tariffs | H1 impact and H2 Outlook ⎼ H1 impact amounted to 0.5 percentage points, reflecting 10% tariffs since April ⎼ Various short-term mitigation actions taken to offset a ~1.2 percentage points impact in H2 ⎼ US production ramp-up to reduce FX exposure and customs impact: • started in late 20
Slide 14: EBITDA | Core profitability increased
EBITDA | Core profitability increased thanks to balanced cost management in % of net sales, rounded 21.4 -1.4 − Core EBITDA margin -3.6 +1.4 PP increased +1.4 PP at CER 3.0 0.2 0.0 17.8 -0.8 17.0 − 1.4 PP adverse FX impact 16.4 -1.8 − Balanced OPEX management: Focus on growth investments while keepi
Slide 15: Net result impacted by FX and financing costs
Net result impacted by FX and financing costs In CHF million -7.7m 0.2 -8.5 − CHF 5m mostly unrealised 0.9 FX losses resulting mainly from decrease of USD and 4.7 7.3 AUD 2.6 − New financing costs after issuance of convertible last year (Keri financing) -0.3 -1.3 -0.9 -0.4 Reported Non-core Core net
Slide 16: Stable cashflow – sufficient cash reserves
Stable cashflow – sufficient cash reserves In CHF million Cash balance − Stable cashflow yoy at year-end − Improved receivables and 127.1 inventory management 120.5 − New set investments in growth markets and fast-moving product categories − Net investment of CHF 14.2 0.6 -1.0 million related to Neo
Slide 17: Strategic direction: from head to toe
Strategic direction: from head to toe Matthias Schupp, CEO 17
Slide 18: Creating the Medartis Group structure
Creating the Medartis Group structure Brand Ownership 100% 100% 51% stake 18
Slide 19: Our strategic priorities
Our strategic priorities CUSTOMERS AT THE CENTRE OF WHAT WE DO Accelerate Keri Medical Value Regional Innovation & Improve US Strategy share gains Digitalisation Cashflow HIGH PERFORMANCE CULTURE with a high-performance team 19 19
Slide 20: US growth strategy progressing to plan
US growth strategy progressing to plan ⎼ US distribution network optimised with 20 underperforming partners changed (out of 57) ⎼ Territory reassignment completed with T&E department actively onboarding new distribution partners ⎼ An additional 6th sales region established in Southeast to enhance co
Slide 21: KeriMedical delivers dynamic expansion
KeriMedical delivers dynamic expansion with increasing user adoption and procedure volumes Share of business (SOB) in active countries, i.e. Austria, Germany, Australia & UK ⎼ KeriMedical maintained its strong momentum and contributed ¼ to overall growth in EMEA ~x2 ⎼ Growth resulting from the recru
Slide 22: US and Australian market launches underway
US and Australian market launches underway ⎼ Preparing for US market entry of its flagship product TOUCH following FDA approval on 10 July ⎼ Commercial director appointed, recruited five clinical specialists, and expanded its education team ⎼ 45 KOLs across 30 US reference centers designated to serv
Slide 23: NeoOrtho acquisition completed and integration on plan
NeoOrtho acquisition completed in May and integration on plan Back-office functions consolidation for Medartis Brazil and NeoOrtho scheduled for January HR strategy focuses on retaining key talents and aligning leadership structures New Curitiba production facility targeted for completion in early 2
Slide 24: Closing important portfolio gaps in elbow
Closing important portfolio gaps in elbow ⎼ Dorsal Olecranon System addition establishes Medartis as comprehensive elbow partner for specialists and trauma surgeons ⎼ Anatomically designed plate provides stable fixation across various proximal ulna fracture patterns ⎼ Coronoid support focus compleme
Slide 25: Outlook 2025
Outlook 2025 25
Slide 26: New Outlook 2025
New Outlook 2025 (barring any unforeseen circumstances) ORGANIC1 GROWTH CORE EBITDA MARGIN (at CER) 14%-16% High teens range Core Sales Outlook maintained despite additional US tariff headwinds through operating leverage, disciplined cost management and countermeasures 1 "Organic growth" denotes the
Slide 27: Q&A
&A medartis 27
Slide 28: Upcoming corporate events
Upcoming corporate events Date Event Broker Destination 2025 19 August 2025 first-half results publication Online 20 August Non-deal roadshow Octavian Frankfurt 21 August Non-deal roadshow Octavian Zurich 17 September Non-deal roadshow Bank of America London 18 September Convertible conference Bank
Slide 29: Analyst coverage
Analyst coverage: For independent research opinions Broker Analyst Email Telephone Octavian Sandra Dietschy sandra.dietschy@octavian.ch +41 44 518 08 27 Research Partners AG Ilya Burgansky ilya.burgansky@researchpartners.ch +41 44 533 40 30 Stifel Nicolaus Europe Ltd. Dylan Van Haaften dylan.vanhaaf
Slide 30: APM | Overview of all non-core items
APM | Overview of all non-core items In CHF million IFRS Adjustments Core Core Core as reported 3rd party M&A effects Other H1 2025 H1 2024 Change H1 2025 business Net revenue 123,0 (1,0) 122,1 107,6 Gross profit 97,8 0,7 98,5 89,7 Gross Margin % 79,5% 80,7% 83,4% -2,7% Selling and distribution (56,
Slide 31: Thank you!
THANK YOU! info@medartis.com +41 61 633 37 36 Hochbergerstrasse 60E 4057 Basel/Switzerland M E D A R T I S . C O M 31