Advanced Medical Solutions Group Plc · LSE:AMS
Advanced Medical Solutions — FY2025 Earnings Presentation
22 slides from Advanced Medical Solutions's earnings presentation, Mar 18, 2026
Slide 1: Results Presentation
Results Presentation Diversified growth and accelerating synergies position AMS for sustained value creation 12 months ended December 2025 18 March 2026
Slide 2: Summary – 2025 strategic objectives met
Summary – 2025 strategic objectives met • Portfolio expansion and growth • Group revenue doubled in four years AMS revenue (£m) • 2025 group revenue increased by 29% 250 • 10% underlying growth in 2025 from AMS legacy business • Strong pipeline of new products expected to sustain strong long-term 20
Slide 3: LiquiBand – US: Momentum building
LiquiBand® – US: Momentum building • US LiquiBand® revenues up 13%* to £29.4m • Partner commitment remains very strong. • LiquiBand XL® continues to improve competitive position • Phasing of 2025 revenue weighted heavily towards H1 due to partner inventory build at new distribution centre US Liq
Slide 4: LiquiBand – ROW: Growth supported by synergies and launches
LiquiBand® – ROW: Growth supported by synergies and launches • ROW LiquiBand® revenues up 11%* to £18.4m • Europe – commercial synergies supporting growth • Successful cross-selling into strong Peters cardiac surgeon base • Exploiting new direct selling in France, India and Poland • APAC – market sh
Slide 5: Internal Fixation – Increasing adoption offsets effect of inventory sell-down
Internal Fixation – LiquiBand Fix8® / LIQUIFIXTM: Increasing adoption offsets effect of inventory sell-down • Internal Fixation revenue up 3%* to £8.3m • US: • Approval established from three of largest Group Purchasing Organisations (GPOs) • Formation of dedicated AMS Hernia Clinical team supportin
Slide 6: Sealants – SEAL-G: Confidence increasing
Sealants – SEAL-G®: Confidence increasing • Low level revenues gaining momentum as early users gain confidence • Encouraging clinical evidence continues to emerge: • Four year follow up of 167 patient bowel surgery study showed leakage rate of 1.3% compared with 5.7% in control group • Some KOLs rep
Slide 7: Sutures: Supply chain and portfolio optimisation offset partner destocking
Sutures: Supply chain and portfolio optimisation offset partner destocking • Sutures, Clips and VTO revenue up 64%* to £82.7m • Significant advances with the harmonisation, rebranding and operational optimisation of RESORBA® and Peters Surgical suture portfolio • Reported revenues impacted by sell-d
Slide 8: Clips and VTO: Plans to expand global reach
Clips and VTO: Plans to expand global reach • High quality range of market leading design cardiovascular clamps • Market leader in France for cardiovascular clips • Stronger growth returning following Resolution of VTO technology supply chain issue that had impacted H1 2025, and unwinding of high di
Slide 9: Biosurgical: improved operations and efficiency
Biosurgical: improved operations and efficiency • Biosurgical revenue up 22%* to £27.8m • Increasing demand for Resorba® antibiotic collagens • New product approvals in APAC and LATAM • Significantly improved operational capability and efficiency with Syntacoll’s specialist expertise supporting abil
Slide 10: Woundcare: Restructuring completed, cost savings secured
Woundcare: Restructuring completed, cost savings secured • Woundcare revenue up 9%* to £45.4m • Restructuring of business unit successfully completed in Q1 2025, targeted cost savings secured • Focus on higher margin business and profitability – double digit margins achieved • Increasing commercial
Slide 11: R&D pipeline: New products set to drive long-term growth
R&D pipeline: New products set to drive long-term growth Product Region Category Est 2026 2027 2028 2029 2030 approval Resorba® dental collagen USA Biosurgical 2026 Resorba® non-antibiotic surgical USA Biosurgical 2027+ collagens Topical Adhesives China Adhesives 2026-2027 Peters sutures range compl
Slide 12: Integration: Synergies on track
Integration: Synergies on track • Enlarged Group working well under unified structure – following successful integration of AMS, Peters Surgical and Syntacoll key function teams in 2024 • Commercial synergies: • Direct sales teams and distributors benefiting from larger portfolio • Cross-selling alr
Slide 13: Financial Review
Financial Review 12 months ended December 2025
Slide 14: Financial highlights
Financial highlights AMS EBITDA (£m) 50 • Group revenue increased by 29% to £228.9 million 40 • Revenue doubled in 4 years 30 20 • Adjusted EBITDA increased by 24% to £49.9 million 10 • EBITDA increased by £10m p.a. 2023-2025 0 2023 2024 2025 • Adjusted Pre-tax profit growth of 15% to £33.9 million
Slide 15: Revenue growth driven by Surgical and Woundcare units
Revenue growth driven by Surgical and Woundcare units • Group revenue up by 29% to £228.9 2024 2025 Growth at million (2024: £177.5 million) Division (£m) (£m) constant currency • Surgical revenue up by 35% to £183.5 AMS Surgical 98.6 108.5 +10% million (2024: £135.8 million) Peters Surgical 37.2* 7
Slide 16: Surgical EBITDA margin
Surgical EBITDA margin • Surgical EBITDA increased by £8.2m to Surgical Business unit £44.7m 250 30 • Surgical EBITDA margin reduced to 24.4% with a full year effect of the lower-margin 200 25 Syntacoll and Peters Surgical business 20 acquired in H1 2024 Margin (%) 150 (£m) • Seal-G® and FDBS are al
Slide 17: Woundcare EBITDA margin
Woundcare EBITDA margin • Woundcare EBITDA increased by £1.4m to £6.2m Woundcare Business unit • Woundcare EBITDA margin increased to 60 16 13.6% following its successful restructuring effective end of Q1 2025 50 14 12 • Woundcare margin target of minimum 10% 40 net operating margin met from Q2 2025
Slide 18: Exceptional items, US tariffs and Middle East conflict
Exceptional items, US tariffs and Middle East conflict • Exceptional Items • 2025 - £5.8m for Peters Surgical and Syntacoll transformation projects: – Integration (£5.1m) relating to consultancy plus dedicated internal team – Restructuring (£0.7m) employee related reorganisation costs • 2026-2027 –
Slide 19: Strong cash generation and improving leverage
Strong cash generation and improving leverage £ million 2024 2025 • Operating activities - generated £29.7m (2024: £16.8m) Cash flows from operating activities: Profit from operations 11.2 22.7 • Working capital movement - includes Depreciation and Amortisation 16.3 21.4 inventory build for the fact
Slide 20: Key drivers 2026-2028
Key drivers 2026-2028 Revenue growth Margin Cashflow • Strong end user • Operational synergies • Declining net debt and demand leverage • Benefits of scale • Market growth • Dividend stable and • Increased direct growing • Increasing market share marketing • 2027 inflexion point • Commercial synergi
Slide 21: Summary and Outlook
Summary and Outlook • 2025 record results and strategic objectives met • Surgical business expected to drive continued strong growth through: • Increased user demand • Geographic expansion • New product approvals • Strong pipeline of new products on track to deliver exciting opportunities in the lon
Slide 22: Contact
Contact Advanced Medical Solutions plc Premier Park, 33 Road One, Winsford Industrial Estate, Winsford, Cheshire W7 3RT, UK Chris Meredith (Chief Executive Officer) corporate@admedsol.com Eddie Johnson (Chief Financial Officer) +44 (0)1606 863500 Michael King (Investor Relations) 22 admedsol.com
Advanced Medical Solutions Group — FY2025 Earnings Presentation on 6ix