Siegfried Holding Ag · SIX:SFZN
Siegfried — H1 2025 Earnings Presentation
18 slides from Siegfried's earnings presentation, Aug 21, 2025
Slide 1: Siegfried on track to deliver profitable growth
Siegfried on track to deliver profitable growth Half-Year Results 2025 August 21, 2025
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 H1 2025
Key highlights H1 2025 Siegfried on track to deliver profitable growth: Outlook confirmed Net sales Core EBITDA margin Net working capital CHF 619.5 million 21.6% More than CHF 35 + 1.6% in LC prior year: 21.3% million cash released - 0.1% in CHF Core net profit EVOLVE+ Outlook 2025 confirmed CHF 65
Slide 4: Financial update
Financial update 4 | H1 2025 presentation
Slide 5: H1 2025: Solid performance sets foundation for full-year delivery
H1 2025: Solid performance sets foundation for full-year delivery A reflection of the strength of our diversified customer portfolio across multiple markets Net sales H1 2025 vs H1 2024 Currency split H1 2025 CHF million H1 2025 H1 2024 Change 31% Drug Substances 413.8 411.1 +0.6% (+2.1% in LC) EUR
Slide 6: Reconciliation for H1 2025
Reconciliation for H1 2025 From Swiss GAAP FER to core results CHFm Adjustments to core EBITDA CHF 1.6m 140 132.3 1.6 133.9 – Reclassification current net interest foreign 130 pension plan (CHF 1.2m) 120 – Transaction costs (CHF 0.4m) 110 100 Adjustments to core net profit CHF 1.2m 89.9 90 -43.9 − C
Slide 7: H1 2025: Profitability further increased
H1 2025: Profitability further increased Increased profitability through operational excellence, portfolio optimization, and cost discipline CHF million H1 2025 H1 2024 Comments Net sales 619.5 619.9 Cost of goods sold -456.5 -460.4 – Core gross profit further increased Core gross profit 163.0 159.5
Slide 8: Continued to deliver significant improvement in operating cash flow
Continued to deliver significant improvement in operating cash flow True cash generation masked by an increase in the inventory position, to be converted into cash in H2 2025 CHF million H1 2025 H1 2024 Comments Operating cash flow before changes in NWC 147.9 124.8 Change in NWC 1.7 -5.9 – Substanti
Slide 9: Capital allocation framework for long-term value creation
Capital allocation framework for long-term value creation Laser focus on M&A and margin expansion 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 10: H2 is usually stronger than H1 due to campaign duration and timing
H2 is usually stronger than H1 due to campaign duration and timing As previously highlighted, the seasonality is stronger in 2025 compared to previous years Revenue recognition: Typically at end of campaign with Resulting revenue profile: majority of campaigns ending in H2 H2 usually stronger than H
Slide 11: Delivering profitable growth
Delivering profitable growth 11 | H1 2025 presentation
Slide 12: Siegfried is set to outpace market growth across our key segments
Siegfried is set to outpace market growth across our key segments EVOLVE+ is geared towards capitalizing on positive long-term trends + Siegfried EVOLVE Industry outlook estimates (CAGR 2024 – 2030) Small molecules Oral solids Injectables Ophthalmic Cell & gene therapy 5–7% 4–6% 7–9% 5–7% >25% Incre
Slide 13: Strategic technology upgrades targeting growth opportunities
Strategic technology upgrades targeting growth opportunities Fast-track through M&A is always an option Drug substance Bridging Drug product development and technologies development and manufacturing manufacturing Recent strategic expansions 2023-2026 Early phase development Spray drying Sterile oin
Slide 14: Net working capital: More than CHF million cash released in H1
Net working capital: More than CHF 35 million cash released in H1 Despite significant increase of inventories due to ongoing production cycles extending into H2 Change in NWC YoY Rolling 12-month delta in NWC (%) 7 Project FALCON 9 Change in NWC 31 2 NWC Inventories Payables Pre- Receivables NWC mon
Slide 15: Siegfried is set to outpace market growth across key segments
Siegfried is set to outpace market growth across key segments On track to meet our full-year targets and mid-term guidance Outlook 2025 confirmed Positive mid-term outlook confirmed Net sales: mid-single-digit growth (LC) Continued profitable growth Stepwise expanding above market (excl. M&A) profit
Slide 16: Q&A
Q&A 16 |
Slide 17: Thank you for your attention
September 22, 2025 Baader Investment Conference, Munich September 24 & 25, 2025 UBS – Best of Switzerland Conference November 19, 2025 Jefferies Global Healthcare Thank you for Conference, London February 20, 2026 your attention Full-Year Results 17 |
Slide 18: Thank you for your attention
Siegfried | Thank you for your attention