Medical Developments International Limited · ASX:MVP
Medical Developments International — H1 FY2026 Earnings Presentation
17 slides from Medical Developments International's earnings presentation, Feb 19, 2026
Slide 1: FY26 Half Year Results
ASX:MVP FY26 HALF YEAR RESULTS 19 February 2026
Slide 2: Important notice and disclaimer
Important notice and disclaimer This presentation contains summary information about Medical Developments International Limited (ACN 108340667) and its related bodies corporate (together, MVP) and MVP’s activities as at the date of this presentation. It is information given in summary form only and
Slide 3: Key messages
Key messages Growth in Penthrox volumes, positive operating cashflow, good progress on strategy • Group revenue of $21.6m (+8%) with strong growth in Pain Management (+18%) mitigating soft demand in Respiratory (-10%) FY26 first half results1 • Disciplined cost management Positive operating • EBIT o
Slide 4: FY26 Half Year Results
FY26 Half Year Results Revenue Pain Management revenue Respiratory revenue $21.6m $15.4m $6.2m +8% +18% -10% EBIT Reported NPAT Operating cashflow $0.3m loss $0.2m loss $0.3m (pcp $0.2m profit) (pcp $0.3m profit) +$1.0m 4
Slide 5: FY26 priorities
FY26 priorities Accelerating volume growth is the key priority 1. Local and international knowledge exchange • Strong partner engagement • Support launch of paediatric label in priority European markets (following national approvals) • Publish MAGPIE study results, partnering with paediatric emergen
Slide 6: FY26 progress: Accelerate penetration of Penthrox
Accelerate penetration of Penthrox ® Paediatric label to be launched in select European countries by the end of FY26 Local and international Medical and Evidence generation knowledge exchange commercial investment • MAGPIE paediatric study • Health economic study completed • Targeted medical and com
Slide 7: FY26 progress: Enhance margins and deliver operational efficiency
Enhance margins and deliver operational efficiency New capital light partner distribution arrangements in France and Switzerland performing well Cost and operating Pricing Capital efficiency leverage • Penthrox® pricing in Australia • Strong cost discipline maintained • Transition to capital light p
Slide 8: Results
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Slide 9: Results summary
Results summary 1H26 half year results Commentary $million 1H25 1H26 Change $m Revenue 20.0 21.6 1.6 • Group revenue up 8% EBITDA 1.8 1.0 (0.8) • Pain Management revenue up 18% driven by EBIT 0.2 (0.3) (0.5) higher volume and higher average prices in Australia NPAT 0.3 (0.2) (0.5) • Successful trans
Slide 10: Pain Management segment revenue
Pain Management segment revenue Revenue up 18%, higher volumes in all regions $million 1H25 1H26 Change % Commentary Europe 4.6 4.6 - Europe Australia 7.3 8.6 18% Rest of World 1.1 2.1 88% • Revenue in line with pcp, with benefit of higher volumes offset by lower average transfer prices Product reve
Slide 11: Respiratory segment revenue
Respiratory segment revenue Revenue down 10%, soft demand conditions in the US $million 1H25 1H26 Change % Commentary Australia 1.9 1.9 (3%) Australia USA 4.0 3.4 (16%) • Steady demand conditions Europe 0.7 0.1 (79%) Rest of World 0.3 0.8 175% USA Respiratory 6.9 6.2 10% • Soft demand conditions thr
Slide 12: EBIT bridge
EBIT bridge Stronger Penthrox volume and pricing Underlying EBIT Commentary ($million) Volumes 0.7 (0.6) • Stronger Penthrox volumes in all regions • Lower Respiratory volumes in the US (0.5) 1.0 Pricing and European transition • Higher pricing in Pain Management, particularly (1.1) in Australia • L
Slide 13: Cashflow
Cashflow Free cashflow improved $1.0 million, positive operating cashflow Commentary $million 1H25 1H26 Change • Positive operating cashflow Operating cash flow (0.8) 0.3 1.0 • Disciplined working capital management • Free cashflow improved by $1.0 million Capital expenditure (0.5) (0.3) 0.2 • Closi
Slide 14: Closing remarks and outlook
Closing remarks and outlook • Stronger Penthrox volumes 1H26 Progress • Positive operating cashflow • Free cashflow improved by $1.0 million Good momentum in strategy • Good momentum in strategy • Strong balance sheet, with cash of $16.9 million FY26 Outlook • Expect to finalise approvals for paedia
Slide 15: Appendices
APPENDICES
Slide 16: Business overview
Appendices Business overview The Pain Management segment delivers more than 70% of Group revenue, driven by demand for Penthrox® in Australia and global markets Pain Management Respiratory Supplies pharmacies, medical clinics and hospitals with a range of Description Manufactures Penthrox®, an inhal
Slide 17: Penthrox overview
Appendices Penthrox overview ® Efficacy, safety and administration benefits of Penthrox® • Inhaled needle-free analgesic 1 The iconic Green Whistle • Non-opioid1 • Portable, self administered device1 • Effective pain relief within 6–10 breaths1-4 • Established safety profile with over 11 million use
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