Medacta Group Sa · SIX:MOVE
Medacta Group Sa — FY2025 Earnings Presentation
25 slides from Medacta Group Sa's earnings presentation, Mar 13, 2026
Slide 1: Full Year 2025 Results
Full Year 2025 Results SUSTAINABLE INNOVATION, WORLD-CLASS SURGEON EDUCATION, AND AN UNWAVERING COMMITMENT TO IMPROVING PATIENT OUTCOMES 13 March 2026
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Medacta operates; manufacturing or logistics disruptions; the impact of Group SA (“Medacta” and together with its subsidiaries, “we”, “us” or fluctuations in foreign exchange rates; and such other factors as the “Group”). The inf
Slide 3: Francesco Siccardi, Chief Executive Officer
FRANCESCO SICCARDI Chief Executive Officer
Slide 4: Highlights – Full Year 2025 Results
Highlights – Full Year 2025 Results Revenue in EUR Adjusted EBITDA margin** 683.8 m 29.0 % in c.c. * 18.5 % growth in c.c.* 27.9 % in EUR Adj. EBITDA of EUR 190.8 m Net profit of EUR 95.5 m Proposed dividend of CHF 1.10 per share rise of 19.1% yoy increase of 31.0 % yoy, or increase of 59.4% yoy 14.
Slide 5: Continued high teens revenue growth
Continued high teens revenue growth 700 600 500 • FY 2025 revenue growth* of Revenue in EUR m 18.5% yoy 400 • Outgrowing market** by 4.3x 300 200 • Revenue CAGR* (FY 2021 - FY 2025) of 17.4% 100 0 2021 2022 2023 2024 2025 5 Notes • In constant currency ** The Orthopaedic Industry Annual Report® publ
Slide 6: Medacta's success pillars for above-market growth
Medacta’s success pillars for above-market growth Differentiating innovations 1 with aim to improve patient outcomes & healthcare sustainability Education and personalized training of surgeons 2 thereby acquiring new surgeons across all business lines Team expansion 3 to increase network of surgeons
Slide 7: Substantial growth across all geographies
Substantial growth across all geographies 18.5%* FY 2025 geographic revenue distribution LATAM 699.6 683.8 EUR 17.0m, 26.5 5.2 2% 43.2 34.1 590.6 -15.7 Revenue in EUR m APAC EUR 134.8m, 20% EMEA 15.2% 19.0% 23.0% 42.2% EUR 327.5m, Growth rate in constant currency NORAM 48% EUR 204.5m, 30% FY 2024 EM
Slide 8: Excellent above-market growth across all business lines
Excellent above-market growth across all business lines 18.5%* FY 2025 revenue distribution by business line Spine 699.6 683.8 EUR 57.0m, 590.6 23.2 6.3 Extremities** 8% 49.9 29.5 EUR 72.1m, -15.7 10% Revenue in EUR m Hip, EUR 270.5m, 40% 11.9% 20.7% 46.2% 12.2% Knee EUR 284.1m, Growth rate in const
Slide 9: Continued double-digit growth in Hip
Continued double-digit growth in Hip 300 250 Revenue in EUR m 200 150 100 50 0 2021 2022 2023 2024 2025 Hip – FY 2025 • Growth mainly attributable to Medacta’s Anterior Minimally Invasive Surgery (AMIS) platform • Outstanding growth in APAC and NORAM • Almost 3 x above-market growth 2025E** yoy 9 No
Slide 10: Excellent expansion in Knee
Excellent expansion in Knee 300 250 Revenue in EUR m 200 150 100 50 0 2021 2022 2023 2024 2025 Knee – FY 2025 • Outstanding performance due to GMK SpheriKA and MyKA, Medacta’s personalized Kinematic Alignment platform • NORAM and EMEA grew in low twenties, closely followed by APAC • 4.6x above-marke
Slide 11: Outstanding growth in Spine
Outstanding growth in Spine 70 60 50 Revenue in EUR m 40 30 20 10 0 2021 2022 2023 2024 2025 Spine – FY 2025 Selection of pre-contoured rods • Solid revenue growth strongly supported by Medacta’s technologies, particularly by NextAR Spine and the NextAR Rod Optimizer • Particularly strong performanc
Slide 12: Continued superior growth in Extremities
Continued superior growth in Extremities 80 70 60 Revenue in EUR m 50 40 30 20 10 0 2021 2022 2023 2024 2025 Extremities – FY 2025 • Expansion primarily due to Medacta Shoulder System, supported by advanced technologies such as MyShoulder and NextAR • Sportsmed portfolio strengthened with acquisitio
Slide 13: Corrado Farsetta, Chief Finance Officer
Corrado Farsetta Chief Finance Officer
Slide 14: Gross profit rising by almost 15.0%
Gross profit rising by almost 15.0% 500 458.7 399.4 • Gross profit of EUR 458.7 m vs. 400 EUR 399.4 m in 2024, an increase Gross profit in EUR m of 14.8 % yoy 300 • Gross profit margin was 67.1% compared to 67.6 % the prior year 200 • The adverse FX impact, causing 100 the softening, was partially o
Slide 15: Adj. EBITDA margin rising to 29.0%
Adj. EBITDA margin rising to 29.0% * Adj. EBITDA and EBITDA margin in cc* continue to increase • Adj. EBITDA of EUR 190.8 m compared to EUR 160.2 m in 2024, an increase of 19.1% yoy 33.7% 35% 240 31.8% 30.5% 29.8% 30.1% 29.0% 200 27.9% 30% • Adj. 2025 EBITDA margin of 29.5% 29.0% in constant currenc
Slide 16: Net profit increasing by 31.0%
Net profit increasing by 31.0% 120 95.5 • Profit before tax was EUR 100 115.3 m compared to EUR 87.8 Net profit in EUR m 80 m in 2024, up 31.4% yoy 72.9 60 • Net profit for the period was EUR 95.5 m compared to EUR 40 72.9 m, up 31.0% yoy 20 • Net profit margin was 14.0% in 2025 vs. 12.3% in 2024 0
Slide 17: CAPEX for future growth
CAPEX for future growth Cash consideration for acquisitions • Total CAPEX was EUR 137.0 m as EUR 4.2 m Instruments Medacta continues to invest in growth Other intangibles EUR 78.2 m EUR 5.0 m • Investments in instruments were EUR 78.2 m and other tangibles were EUR R&D investments 34.5 m; these toge
Slide 18: Operating cash flow advancing by more than 42%
Operating cash flow advancing by more than 42% • Cash flow from operating activities increased by 42.5% to EUR 152.7 m compared to EUR 107.1 m in 2024 (EUR m) • Cash flow from investing activities was EUR 137.0 m vs. EUR 98.9 m in the Cash Flow 2025 2024 prior year mainly reflecting a) Cash Flow fro
Slide 19: Maintaining a strong balance sheet
Maintaining a strong balance sheet Net debt / adj. EBITDA (x) 1.01 0.99 1.0 0.93 0.87 0.88 0.8 • Continued strong balance sheet 0.6 • 2025 net debt / adj. EBITDA was 0.88x 0.4 • Net debt / adj. EBITDA on 0.2 average at 0.94x over the past five years 0.0 2021 2022 2023 2024 2025 19 Notes Definitions
Slide 20: Dividend per share (CHF)
Dividend per share 1.2 1.10 1.0 Dividend per share (CHF) 0.8 • Proposed dividend of CHF 1.10 0.69 per share by Board of Directors to 0.6 0.54 0.54 0.55 Annual General Meeting on 5 May 2026 0.4 • Proposal reflects dividend increase of 59.4% over prior year 0.2 0.0 2021 2022 2023 2024 2025 20 Notes De
Slide 21: Francesco Siccardi, Chief Executive Officer
FRANCESCO SICCARDI Chief Executive Officer
Slide 22: Outlook
Outlook Outlook 2026 Medacta is targeting a revenue growth in the range of 10% to 14% in constant currency and an expansion of the adjusted EBITDA margin of around 50bps vs. the prior year (27.9%), in constant currency, subject to unforeseen events. Mid-term outlook Revenue compound annual growth ra
Slide 23: Key messages
Key messages Strong financials: Excellent continued above market soaring profitability, OCF and Our aim growth of 18.5%* yoy as result of dividend ▪ Differentiating innovations to ▪ Expansion of adj. EBITDA ▪ Continuing to improve patient outcomes and margin** in c.c.* to 29.0% outgrow the healthcar
Slide 24: Thank you
Thank you to all our employees, clients, suppliers and partners worldwide.
Slide 25: Calendar 2026
Calendar 2026 Date Event Location 13. March FY 2025 Results 16. March Roadshow Switzerland Zurich 17. March Roadshow Switzerland Geneva 18. March Roadshow Italy Milan 24. March BNP Paribas Healthcare Conference London 25. March Roadshow UK London 08. April Roadshow Germany Frankfurt 09. April Roadsh