Slide 1: Q3/9M 2023 Results
Q3/9M 2023 Results Matthias Gaertner, CEO Falk Neukirch, CFO November 14, 2023
Slide 2: Executive summary, financial overview, guidance 2023, appendix
1 Executive summary 2 Financial overview 3 Guidance 2023, growth story 4 Appendix 2
Slide 3: Executive summary: Highlights 9M 2023
Executive summary Highlights 9M 2023 • Strong Pharmaceutical Supply (PS) business also benefiting from destocking at higher prices; Patient-Specific Therapies (PST) still impacted by regulatory headwinds • Increasing diversification & realization of synergies: e.g., parenteral nutrition for prematur
Slide 4: YoY & QoQ - Excellent revenue and EBITDA pre growth
Executive Summary YoY & QoQ - Excellent revenue and EBITDA pre growth Revenue in €m EBITDA pre¹ €m 17.2 490 15.3 15.0 419 431 422 14.1 14.1 14.3 393 399 399 354 369 11.1 316 319 10.0 10.2 9.5 8.8 2.7 3.0 3.6 3.6 3.6 3.4 3.5 3.3 3.5 Margin 2.8 2.8 2.8 3.5 2.8 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3
Slide 5: Continuous and sustainable growth YoY
Executive Summary Continuous and sustainable growth YoY Revenue in €m EBITDA pre¹ in €m +10.9% +5.7% 1,211 1,343 43.8 46.3 9M 2022 9M 2023 9M 2022 9M 2023 ¹ EBITDA pre is adjusted for special charges for stock options and expenses for M&A activities as well as from 2023 additionally for one-time per
Slide 6: Split by operative segments for 9M 2023: Increased share of PS business
Executive Summary Split by operative segments for 9M 2023: Increased share of PS business Revenue by segment2 EBITDA pre1 by segment2 14% 13% 39% Patient-Specific Therapies (PST) 73% 87% Pharmaceutical Supply (PS) ¹ EBITDA pre is adjusted for special charges for stock options and expenses for M&A ac
Slide 7: Excellent geographic coverage through strong nationwide network of partners
Executive Summary Excellent geographic coverage through strong nationwide network of partners and own compounding facilities • 7 GMP1 labs/ 1 blistering lab • 2 central / 2 regional warehouses Hamburg • Innovative IT-based platform mediosconnect in 5 federal states Osnabruck Berlin (HQ) • Around 750
Slide 8: Agenda: Financial overview
1 Executive summary 2 Financial overview 3 Guidance 2023, growth story 4 Appendix 8
Slide 9: 9M 2023 – Financials
Financial overview 9M 2023 – Financials In € million 9M 2023 9M 2022 ∆% Comments Revenue 1,343.5 1,211.4 10.9% • Record revenue driven by PS segment and inclusion of bbw in consolidated accounts Gross profit1 83.6 81.5 2.6% gross margin in % 6.2% 6.7% • Gross profit and EBITDA pre further in- crease
Slide 10: 9M 2023 – Ongoing organic and inorganic revenue growth
Financial overview 9M 2023 – Ongoing organic and inorganic revenue growth Inorganic Comments 9M YoY revenue in €m 9M 2022 Organic 9M 2023 (bbw/AfS) Pharmaceutical Supply 1,044.4 90.1 33.5 1,168.0 • bbw acquisition led to revenue contribution of €40.9m mainly in PS Patient-specific Therapies 166.6 1.
Slide 11: 9M 2023 – Ongoing organic and inorganic EBITDA pre growth
Financial overview 9M 2023 – Ongoing organic and inorganic EBITDA pre growth Inorganic 9M YoY EBITDA pre1 in €m 9M 2022 Organic (bbw/AfS) 9M 2023 Comments Pharmaceutical Supply 28.2 4.4 1.1 33.7 • EBITDA pre of PS grew mainly organically but also inorganically Patient-specific Therapies 19.3 -2.3 0.
Slide 12: 9M 2023 – Strong PS business; PST impacted by regulatory effects
Financial overview 9M 2023 – Strong PS business; PST impacted by regulatory effects Pharmaceutical Patient-specific Services IFRS consolidation Group Supply ‘PS‘ Therapies ‘PST’ In € million 9M 23 9M 22 9M 23 9M 22 9M 23 9M 22 9M 23 9M 22 9M 23 9M 22 Total segment revenue 1,271.8 1,097.0 201.3 202.1
Slide 13: Ongoing strong financing power – to invest in future growth
Financial overview Ongoing strong financing power – to invest in future growth Available and future funds Financing power in €m • Approx. €+37m annual operating cash flow in 2023 Step up • Approx. €-5m annual operating capex need 50 Revolver • Approx. €70m available cash end of Sep 2023 • Revolving
Slide 14: Agenda: Guidance 2023, growth story
1 Executive summary 2 Financial overview 3 Guidance 2023, growth story 4 Appendix 14
Slide 15: Narrowed guidance for FY 2023
Guidance 2023, growth story Narrowed guidance for FY 2023 Revenue in €bn EBITDA pre1 in €m Comments • Revenue expected to reach approx. + ~12% + ~9% €1.8bn in 2023 representing a growth of ~12% compared to 2022 • EBITDA pre1 expected to be approx. 1.6 1.8 €60m in 2023 representing a growth 60 of ~9%
Slide 16: Clear strategy to build the European Specialty Pharma Platform
Guidance 2023, growth story Clear strategy to build the European Specialty Pharma Platform with over €2bn in revenue Continue evolving our Specialty Pharma business in Germany Building the leading Mid-term Ambition Expand compounding within European >€2bn Revenue Europe to gain continued growth, Spe
Slide 17: New markets: Strategic M&A approach with focus on compounding
Guidance 2023, growth story New markets: Strategic M&A approach with focus on compounding Entering stable countries with favourable regulatory environment (allowing e.g. import/export, broad product range) Profile M&A targets • Top-3 market position • Experienced team with strong cultural fit • Reve
Slide 18: Conclusion 9M 2023
Guidance 2023, growth story Conclusion 9M 2023 • Excellent performance in 9M and Q3 2023 - strengthening our market leadership in Specialty Pharma • Strong 9M: Revenue up by 10.9% to €1.3bn; EBITDA pre increased by 5.7% to €46.3m • Excellent Q3 results and record quarter: €490m revenue (+16.9%), EBI
Slide 19: Agenda: Appendix
1 Executive summary 2 Financial overview 3 Guidance 2023, growth story 4 Appendix 19
Slide 20: Q3 / 9M 2023 - Key figures (1/2)
Appendix Q3 / 9M 2023 - Key figures (1/2) in € thousand 9M 2023 9M 2022 ∆ in % Q3 2023 Q3 2022 ∆ in % Revenue 1,343,458 1,211,397 10.9% 489,942 419,218 16.9% Pharmaceutical Supply 1,168,005 1,044,383 11.8% 433,860 361,926 19.9% Patient-Specific Therapies 174,961 166,626 5.0% 56,012 57,141 -2.0% Serv
Slide 21: Q3 / 9M 2023 - Key figures (2/2)
Appendix Q3 / 9M 2023 - Key figures (2/2) in € thousand 9M 2023 9M 2022 ∆ in % Q3 2023 Q3 2022 ∆ in % Earnings per share (in €) Undiluted 0.69 0.67 3.0% 0.30 0.25 20.0% Diluted 0.69 0.66 4.5% 0.30 0.25 20.0% Investments (CAPEX) 861 3,576 -75.9% 314 712 -56.0% Cash flow from operating activities 10,8
Slide 22: Q3 2023 – Record quarter driven by organic growth in PS segment
Appendix Q3 2023 – Record quarter driven by organic growth in PS segment Inorganic Comments Q3 YoY Revenue in €m Q3 2022 Organic Q3 2023 (bbw/AfS) • Inorganic growth driven by bbw/AfS Pharmaceutical Supply 361.9 61.6 10.4 433.9 integration (PST value is an Patient-specific Therapies 57.1 -3.6 2.5 56
Slide 23: Q3 2023 – Record quarter driven by organic growth
Appendix Q3 2023 – Record quarter driven by organic growth Inorganic Comments Q3 YoY EBITDA pre1 in €m Q3 2022 Organic Q3 2023 (bbw/AfS) • Successful integration of bbw and Pharmaceutical Supply 10.7 3.0 0.1 13.8 compounding from AfS led to EBITDA Patient-specific Therapies 6.1 -1.1 0.3 5.3 pre1 con
Slide 24: Q3 2023 – Strong financials driven by PS segment
Appendix Q3 2023 – Strong financials driven by PS segment Pharmaceutical Patient-specific Services IFRS consolidation Group Supply ‘PS‘ Therapies ‘PST’ In € million Q3 23 Q3 22 Q3 23 Q3 22 Q3 23 Q3 22 Q3 23 Q3 22 Q3 23 Q3 22 Total segment revenue 471.1 382.1 60.8 68.4 2.1 1.9 -44.1 -33.3 490.0 419.2
Slide 25: Guidance FY 2023 narrowed – Main assumptions
Appendix Guidance FY 2023 narrowed – Main assumptions Main Assumptions for 2023 Synergy effects as a result Especially in purchasing and Regulatory price reductions effective since Sep 1, 2022 of the integration of logistics – negative impact on the PST* segment Cranach Pharma, Newco Pharma, bbw inc
Slide 26: Advanced therapies manufacturing represents a highly attractive market opportunity
Appendix Advanced therapies manufacturing represents a highly attractive market opportunity, aligned with Medios’ strengths Focus on Focus on patient- Why advanced Focus on patient-specific specific therapies? specialty therapies therapies pharma 2022 2025 Medios is already Advanced therapies a trus
Slide 27: Contact
Contact Claudia Nickolaus Head of Investor & Public Relations, ESG Communications Phone +49 30 232 566 800 c.nickolaus@medios.ag 27
Slide 28: Disclaimer
Disclaimer This presentation has been produced by Medios AG (the „Company“). The facts and information The forward-looking statements, including but not limited to assumptions, opinions and views of contained herein are as up to date as is reasonably possible and are subject to revision in the the C
Slide 29: Q3/9M 2023 Results
Q3/9M 2023 Results Matthias Gaertner, CEO Falk Neukirch, CFO November 14, 2023