Fagron Sa · EURONEXT:FAGR
Fagron Sa — Fagron Sa Ord — FY 2025 Earnings Presentation
18 slides from Fagron Sa's earnings presentation, Feb 12, 2026
Slide 1: FY 2025 results
FY 2025 results Rafael Padilla CEO Karin de Jong CFO 12 February 2026
Slide 2: Disclaimer
Disclaimer The contents of this document, including all statements made therein, are based on estimates, assumptions and other information currently available to the management of Fagron. Certain statements in this presentation may be deemed to be forward-looking. Such forward-looking statements are
Slide 3: Key highlights
Key highlights Rafael Padilla | CEO 3
Slide 4: Outstanding FY 2025 performance supported by all regions and segments
Outstanding FY 2025 performance supported by all regions and segments 9.1% organic growth at CER, broad based across regions and segments FY 2025 YoY change REBITDA margin up 30bps to 20.3%, driven by operational leverage and Total revenue €952.2m 9.2% sales mix Organic revenue growth 9.1% -3.9pp Fr
Slide 5: FY 2025 regional performance highlights
FY 2025 regional performance highlights EMEA Latin America North America – Pacific +4.2% 21.9% 7 +14.1% 18.3% 2 +10.8% 19.7% 3 Organic revenue REBITDA margin M&A announced Organic revenue REBITDA margin M&A announced Organic revenue REBITDA margin M&A announced growth at CER growth at CER growth at
Slide 6: M&A activity in line with strategic objectives
M&A activity in line with strategic objectives 12 transactions announced in 20251 Key integration Active Pharma (B&E) levers EuroOTC2 (B&E) Uni-Chem (B&E) & SB Trade (B&E) Procurement Amara’s BoB (B&E) & Magilab (B&E) savings Guinama (B&E) CareFirst (CS) & UCP (CS) Product breadth Bella Corp (B&E) P
Slide 7: Financial review
Financial review Karin de Jong | CFO 7
Slide 8: FY 2025 financial highlights
FY 2025 financial highlights +9.2% +10.9% 952.2 200.0 192.9 21.0% 872.0 20.8% 174.0 20.6% 175.0 20.4% +9.1% 20.2% Org. growth CER 150.0 20.3% 20.0% 20.0% 19.8% 19.6% 125.0 19.4% 19.2% 100.0 19.0% FY 2024 FY 2025 FY 2024 FY 2025 Revenue in €m REBITDA in €m REBITDA margin Broad based revenue growth; F
Slide 9: FY 2025 Revenue bridge and P&L statement
FY 2025 Revenue bridge and P&L statement Profit & loss account (€m) FY 2025 FY 2024 Δ in €m Net revenue 952.2 872.0 9.2% 300.0 33.4 -32.1 Gross margin 596.0 543.7 9.6% Operating expenses 400.7 366.6 9.3% 41.1 Share-based payments and LTI 2.3 3.0 -24.0% 250.0 EBITDA before non-recurrent result 192.9
Slide 10: EMEA: Further diversification strengthens platform
EMEA: Further diversification strengthens platform Revenue Profitability +12.6% +14.9% 90.0 24.0% 77.9 23.5% 355.1 80.0 315.4 23.0% 70.0 67.8 114.4 22.5% 109.0 +4.2% 60.0 22.0% 54.9 48.6 Org. growth CER 50.0 21.9% 21.5% 21.5% 21.0% 157.8 185.8 40.0 20.5% 30.0 20.0% FY 2024 FY 2025 FY 2024 FY 2025 Es
Slide 11: Latin America: Strong organic revenue growth partly offset by FX
Latin America: Strong organic revenue growth partly offset by FX Revenue Profitability +5.4% +6.3% 40.0 20.0% 38.0 240.0 183.0 19.5% 173.6 36.0 33.6 3.9 34.0 200.0 4.2 31.6 19.0% 32.0 160.0 59.8 +14.1% 69.7 30.0 18.5% 120.0 28.0 Org. growth CER 18.3% 18.2% 18.0% 26.0 80.0 40.0 109.5 109.4 24.0 17.5%
Slide 12: North America – Pacific: Robust revenue and profitability momentum
North America – Pacific: Robust revenue and profitability momentum Revenue Profitability +8.1% +9.1% 22.0% 90.0 480.0 414.1 81.4 383.0 440.0 74.6 21.0% 80.0 400.0 360.0 70.0 20.0% 320.0 280.0 284.7 +10.8% 306.5 19.7% 60.0 19.5% 240.0 19.0% 200.0 Org. growth CER 50.0 160.0 120.0 23.5 21.4 40.0 18.0%
Slide 13: High free cash flow conversion reflects strengths of business model
High free cash flow conversion reflects strengths of business model Cash flow from operating activities development (€m) 170.0 €m FY 2025 FY 2024 150.0 1.5 22.7 130.0 EBITDA 192.6 171.5 21.2 110.0 153.8 155.3 Changes to working capital1 (11.6) (34.3) 90.0 131.1 109.9 109.9 Income tax paid (25.8) (27
Slide 14: Lower net debt to EBITDA ratio enables opportunities
Lower net debt to EBITDA ratio enables opportunities Net debt evolution €m 12.5 24.1 27.0 26.0 30.6 155.3 76.9 270.7 283.3 8.3 4.1 On 31 Dec 2024 Operational cash Capital increases Purchase own Acquisitions Capital expenditure Dividends paid Net interests FX IFRS 16 On 31 Dec 2025 flow shares Net fi
Slide 15: Outlook
Outlook FY 2026 Mid-term (2025 – 2030) Revenue: High single-digit to low double-digit organic CAGR at CER Revenue REBITDA Capex REBITDA margin: margin c.21.0% by 2027. Progressive step-up to 2030 Mid- to high-single Slight increase in ~3.5% digit organic profitability y-o-y of revenue1 Capex: growth
Slide 16: Conclusion
Conclusion Rafael Padilla | CEO 16
Slide 17: Together we create the future of personalized medicine
Global leader in the niche pharmaceutical compounding market Together we create the future of personalized medicine Defensive Business Strong Cash Operational Model Generation Excellence Disciplined Sustainability Unique Market M&A Focus Positioning 17
Slide 18: Questions
Questions Financial calendar 2026 9 April 2026 Trading update first quarter 2026 11 May 2026 Annual General Meeting 2025 30 July 2026 Half year results 2026 8 October 2026 Trading update third quarter 2026 18