Laboratorios Farmaceuticos Rovi, S.a. · BME:ROVI
Laboratorios Farmaceuticos Rovi — H1 2025 Earnings Presentation
25 slides from Laboratorios Farmaceuticos Rovi's earnings presentation, Jul 24, 2025
Slide 1: First half 2025 Financial Results
First half 2025 FINANCIAL RESULTS 24 JULY 2025
Slide 2: Disclaimer
DISCLAIMER This Presentation has been prepared by Laboratorios Farmacéuticos ROVI, S.A. (the “Company”) and comprises the slides for a presentation concerning the Company and its subsidiaries (the “Group”). For the purposes of this disclaimer, “Presentation” means this document, its contents or any
Slide 3: 2025 first half financial results - highlights
2025 first half financial results - highlights Operating revenue in H1 2025 was €314.6 Mn, a 4% decrease on H1 2024, mainly due to the performance of the CDMO business ("CDMO"). However, sales of the specialty pharmaceutical business increased 13% to €237.4 Mn in H1 2025. Positive evolution of Okedi
Slide 4: Key milestones achieved in H1 2025 - CDTI subsidy and CellsIA acquisition
Key milestones achieved in H1 2025 - subsidy awarded by CDTI, and acquisition of majority stake in CellsIA Final Decision to award aid of €36.3 Mn for ROVI’s LAISOLID project subsidised by the CDTI • On 9 July 2025, the Technological Development and Innovation Centre (CDTI) published the final decis
Slide 5: Operating results
OPERATING RESULTS Juan López-Belmonte Chairman and Chief Executive Officer
Slide 6: Key growth drivers within the specialty pharma business
LMWH, Okedi®, Neparvis®, and the contrast agents and other hospital products division, key growth drivers within the specialty pharma business H1 2025 sales variation -4% 14.4 2.7 1.0 2.3 10.0 4.3 329.3 (0.2) (5.9) (1.7) 314.6 (41.7) €Mn H1 2024 Op. Enoxaparin Bemiparin Okedi® Neparvis® Volutsa® Orv
Slide 7: Evolution of EBITDA and net profit
Evolution of EBITDA and net profit EBITDA Margin 21.2% -0.4 pp 20.9% 75 20% 69.9 65.6 15% 50 €Mn 44.3 39.7 10% 25 5% EBITDA Net Profit EBITDA Net Profit 0 0% H1 2024 H1 2025 • EBITDA was €65.6 Mn in H1 2025, a decrease of 6% compared to H1 2024. ◦ EBITDA margin decreased 0.4 pp to 20.9% in H1 2025 f
Slide 8: ROVI aspires to become a benchmark player in the LMWH field worldwide
ROVI aspires to become a benchmark player in the LMWH field worldwide Prescription-based sales Heparin franchise sales LMWH sales +14% +12% +14% 135.2 79.8 120.7 208.1 69.8 +9% 183.4 51.5 47.2 €Mn €Mn €Mn Enoxaparin Bemiparin biosimilar H1 2024 H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 • Sales of pres
Slide 9: Internationalisation strategy as a pillar of future growth
ROVI's internationalisation strategy as one of its pillars of future growth • Well positioned to drive long-term leadership in low-molecular-weight heparins (LMWH). • Sales outside Spain decreased 8% in H1 2025, mainly due to the decrease in sales from the CDMO business. • Sales outside Spain repres
Slide 10: Growth evolution of enoxaparin biosimilar
Growth evolution of enoxaparin biosimilar Well-established network to minimize time-to-market Expansion in other Directly marketed in markets through out Approved in 26 countries Germany, UK, Italy, licensing agreements in Europe and 33 in the France, Austria, Portugal with international rest of the
Slide 11: Okedi, Neparvis and contrast agents key drivers of specialty pharma
Okedi®, Neparvis® and contrast agents and other hospital products, key drivers of the performance of the specialty pharma business +115% +11% +9% 40 30 27.7 28.7 26.9 26.4 25.0 -46% €Mn 20 12.5 13.0 -4% 10 7.1 4.7 4.5 0 (2) (1) Okedi® Neparvis® Orvatez® Volutsa® Contrast agents and other hospital pr
Slide 12: Value added CDMO services
Value added CDMO services CDMO business CDMO evolution (Sales) ROVI and Moderna continue along the path of their long-term collaboration: • ROVI collaborates with Moderna in the end-to-end supply chain, including the active substance at the Granada plant and fill-and-finish at the Madrid facilities.
Slide 13: ISM Platform opens up new avenues of growth for ROVI
ISM® Platform opens up new avenues of growth for ROVI Overview Key Company Highlights of ISM® Platform • Internally-developed and patented innovative drug-release technology, ISM®(1), which allows for the sustained release of compounds administered by Pop PK(3) model & Expected high injection simula
Slide 14: Outlook 2025
Outlook 2025 2025 operating revenue growth rate Decrease by a mid-single-digit percentage vs 2024 The key growth levers in 2025 Specialty Pharma CDMO Launch of Risperidone ISM® in new Agreement with Moderna countries LMWH franchise Capacity increase Existing portfolio of specialty New formats (cartr
Slide 15: Financial results
FINANCIAL RESULTS Javier López-Belmonte Deputy Chairman and Chief Financial Officer
Slide 16: Revenue level affected by the performance of the CDMO business
Revenue level affected by the performance of the CDMO business Operating revenue LMWH sales -4% 150 +12% 131.3 116.9 329.3 24.8 2.2 100 314.6 79.8 69.8 €Mn €Mn (41.7) 50 47.2 51.5 0 H1 2024 Prescription Contrast agents CDMO H1 2025 H1 2024 H1 2025 operating products & hospital operating revenue prod
Slide 17: Gross margin positively impacted by CDMO, Okedi and lower LMWH raw material prices
Gross margin positively impacted by the CDMO business, the increased contribution of Okedi®'s sales and the decrease in LMWH raw material prices Gross profit and Gross margin Gross margin impacts 250 +3.0 pp Gross profit increased 0.3% to €196.2 Mn in H1 2025. Gross margin was 62.4% in H1 2025, an i
Slide 18: SG&A and commitment to R&D
SG&A and commitment to R&D SG&A expenses R&D expenses 34.5% 36.1% 119.364 40% 30% €Mn 16.8 €Mn H1 2025 113.5 113.7 20% 10% +38% 0 0% H1 2024 12.2 H1 2024 H1 2025 SG&A SG&A/Operating revenue 0 10 20 SG&A expenses remained stable at €113.7 Mn in H1 2025 vs H1 2024. Within R&D expenses increased 38% to
Slide 19: EBITDA, EBIT & Net Profit analysis
EBITDA, EBIT & Net Profit analysis EBITDA EBIT -6% -10% 100 17.1% 16.2% 20% 21.2% 20.9% 50 56.5 €Mn €Mn 50 69.9 65.6 0% 50.9 10% 0 0 0% H1 2024 H1 2025 H1 2024 H1 2025 EBITDA EBITDA Margin EBIT EBIT margin Net Profit 100 69.9 0.5 65.6 -10% 50 €Mn €Mn (0.2) (4.6) (0.05) 50 44.3 39.7 0 EBITDA Gross SG
Slide 20: Pre-R&D analysis
Pre-R&D analysis(1) +0.4% -1% 100 82.1 82.4 -2% 68.6 67.7 54.0 53.1 €Mn 50 0 EBITDA pre-R&D EBIT pre-R&D Net profit pre-R&D H1 2024 H1 2025 • EBITDA “pre-R&D” increased by 0.4%, from €82.1 Mn in H1 2024 to €82.4 Mn in H1 2025. • EBIT “pre-R&D” decreased by 1%, from €68.6 Mn in H1 2024 to €67.7 Mn in
Slide 21: Capital expenditure and Cash Flow
Capital expenditure and Cash Flow CAPEX evolution Cash Flow evolution 30 +12% 40.6 (12.6) 1.6 20.8 (20.8) (3.5) (79.7) 18.7 (85.1) €Mn €Mn 15 Net debt (-)/ Net cash Working Capex Invts. in Other Net debt (-)/ cash (+) FY from capital joint cash (+) H1 2024(1) operating ventures 2025(1) activities an
Slide 22: Debt analysis
Debt analysis Debt breakdown by source (%) Debt maturities 0.05% 40.0 36.5 Total debt €129.3 Mn 11% 30.0 25.8 26.3 26.8 8% Financial liabilities for leases 20.0 €Mn Debt with public administration Bank borrowings 13.9 Financial derivatives 81% 10.0 0.0 2025 2026 2027 2028 2029 + • Debt with public a
Slide 23: News flow 2025
News flow 2025 Additional new products to be launched Specialty pharma Granting by the competent local authorities of the marketing authorisation of an enoxaparin biosimilar outside Europe Moderna's product manufacturing progress CDMO Announcement of new contracts Marketing of Okedi® in Europe and r
Slide 24: Alternative performance measures
Alternative performance measures In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRSs”) taken from our financial statements, this document includes certain alternative performance measures (“APMs”) as defined in the ESMA (European S
Slide 25: For further information, please contact
For further information, please contact: Juan López-Belmonte Chairman and Chief Executive Officer www.rovi.es Javier López-Belmonte Deputy Chairman and Chief Financial Officer www.rovi.es Marta Campos Head of Finance mcampos@rovi.es www.rovi.es Beatriz de Zavala Investor Relations Analyst bdezavala@
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