Medicover Ab Class B · OMXSTO:MCOV_B

Medicover Ab Class B — Q2 2026 Earnings Presentation

18 slides from Medicover Ab Class B's earnings presentation, Jul 22, 2026

  1. Slide 1: Results presentation Q2

    Results presentation Q2 John Stubbington CEO Anand Patel CFO 22 July 2026

  2. Slide 2: Disclaimer regarding forward-looking statements

    DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS This presentation may contain certain forward-looking statements and opinions. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, by example, conta

  3. Slide 3: Business overview – Q2

    Business overview – Q2 3

  4. Slide 4: Another quarter of double-digit organic revenue growth and margin expansion

    Another quarter of double-digit organic revenue growth and margin expansion  Strong organic revenue growth of 11.8%. Revenue Organic revenue growth  Continued solid execution with sixth consecutive quarter €640.4m 11.8%1 of improved margins YoY. (+7.3%)1  Results delivered against a strong compar

  5. Slide 5: Strong FFS growth and outstanding India performance drives growth

    Strong FFS growth and outstanding India performance drives growth Revenue breakdown Revenue by country1 Revenue by payer1 700 -23%2 +7.3% 640.4 +20% 5% +1% 596.7 0.7 600 +17.1% +23%3 4% 20% +20.0% 509.4 10% 500 424.7 400 +14% 639.7 +4% 13% 53% 300 60% 20% 200 +10% -2%2 100 15% +3% 0 Q2 2023 Q2 2024

  6. Slide 6: Healthcare Services – Solid performance against demanding base

    Healthcare Services – Solid performance against demanding base Revenue by country1 Revenue  Revenue growth at 6.9% with organic growth of 12.2%. -44%3 Price accounted for approximately 5.2pp of the organic €442.8m +4% 11% 4% growth. Total growth negatively impacted by fx effects. (+6.9%)1 +23% 14%

  7. Slide 7: Diagnostic Services – Strong growth and improved profitability

    Diagnostic Services – Strong growth and improved profitability Revenue by country1 Revenue  Revenue increased by 8.5%, organic growth was +8% 10.9%. Price accounted for approximately 5.2pp of the €205.1m 14% organic increase. Total growth negatively impacted by fx (+8.5%)1 +20% +7% 12% 42% effects.

  8. Slide 8: Financial overview – Q2

    Financial overview – Q2 8

  9. Slide 9: Consistent double-digit organic revenue growth and margin expansion

    Consistent double-digit organic revenue growth and margin expansion Group revenue and EBITDA margin development by quarter 700 18%  Revenue increased by 7.3% with an organic growth of 11.8%. 600 16%  EBIT was €51.2m (€41.7m), a margin of 8.0% (7.0%). 14%  Net profit amounted to €23.9m (€18.0m), a

  10. Slide 10: Healthcare Services – strong profitability maintained

    Healthcare Services – strong profitability maintained Revenue and EBITDA margin development by quarter 500 20%  Organic revenue growth of 12.2%, with price representing approximately 5.2pp of this growth. 450 18% 400 16%  EBITDA grew by 5.3% to €81.3m (€77.2m), a margin of 18.4% (18.6%). 350 14% 

  11. Slide 11: Diagnostic Services – profitability improvement supported by synergies

    Diagnostic Services – profitability improvement supported by synergies Revenue and EBITDA margin development by quarter 250 25%  Organic revenue growth of 10.9%, with price representing approximately 5.2pp of this growth. 200 20%  EBITDA grew by 15.2% to €38.6m (€33.5m), a margin of 18.8% (17.7%).

  12. Slide 12: Other financial metrics

    Other financial metrics  Leverage1 decreased to 2.9x from 3.1x at YE 25.  Liquidity was strengthened by a new €450.0m RCF (up from €300.0m).  Dividend of €30.2m (€22.5m) distributed to shareholders.  Effective tax rate at 28.0% (28.0%).  Net cash flow from operating activities was €73.6m (€57.3

  13. Slide 13: Capex and investments

    Capex and investments Free recurring cash flow and organic growth capex, €m Capex, €m Free recurring cash flow Organic growth investment FR C/F % of revenue 40 Maintenance Growth Healthcare Services Diagnostic Services 40 35 % of revenue 35 60 9.4% 10% 8.4% 9% 4.6% 30 30 50 4.5% 8% 25 25 7% 40 28% 6

  14. Slide 14: Financial targets 2026-2028

    Financial targets 2026-2028 Organic revenue, €m Adj. organic EBITDA, €m  Leverage1: 3,250 600 2,378 2.9x 388 ≤3.0x can exceed over shorter periods  Dividend: ≤50% share of net profit for the year 2025 base 2028 target 2025 base 2028 target Organic revenue Adjusted organic EBITDA Illustrative equiv

  15. Slide 15: Key takeaways

    Key takeaways 15

  16. Slide 16: Key takeaways

    Key takeaways  Solid performance with double-digit organic revenue growth.  Sixth consecutive quarter of improved margins YoY.  FFS revenue growth and synergies from last years acquisitions good contributors to growth and improved results.  India continued its very strong double-digit revenue gr

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  18. Slide 18: Financial calendar

    Financial calendar Date and time Silent period Monday 5 October Interim report Q3 / Webcast Wednesday 4 November, 07.45 / 09.30 CET Interim report Year-end 2026 / Webcast Wednesday 10 February 2027, 07.45 / 09.30 CET Annual report Week 13 2027 Interim report January-March 2027 / Wednesday 28 April 2

Medicover — Q2 2026 Earnings Presentation on 6ix