Eurofins Scientific Se · EURONEXT:ERF
Eurofins Scientific — Investor Day (October 2025)
28 slides from Eurofins Scientific's investor day presentation, Oct 24, 2025
Slide 1: 2025 European Investor Day
CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd, 2025. All rights reserved. This document contains information that is confidential and proprietary to Eurofins Scientific SE and / or its affiliates and is solely for the use of the personnel of Eurofins Scientific SE and all its af
Slide 2: Disclaimer
Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for or purchase securities in Eurofins Scientific S.E. and neither this document nor anything contained or referred to in it shall form the basis of, or be relied on
Slide 3: CEO Presentation
CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd, 2025. All rights reserved. This document contains information that is confidential and proprietary to Eurofins Scientific SE and / or its affiliates and is solely for the use of the personnel of Eurofins Scientific SE and all its af
Slide 4: Eurofins: The World Leader in Testing for Life
Eurofins: The World Leader in Testing for Life Key Figures 35+ years of value creation • Long-term track record of turning investments into growth, productivity, margin expansion and Return on 950+ Capital Employed laboratories 450,000,000+ tests performed each year • Competitive advantages based on
Slide 5: Performance in 2024 demonstrated resumption of pre-COVID profit and cash flow growth trends
Eurofins' performance in 2024 demonstrated resumption of pre-COVID historic profit and cash flow growth trends CAGR Δ 20193 20193 2020 2021 2022 2023 2024 20193- to 2024 2024 Revenues (m€) 4,563 5,439 6,718 6,712 6,515 6,951 +52% +9% (COVID revenues) (~€800m) (~€1,400m) (~€600m) Adj. EBITDA (m€) 931
Slide 6: Trajectory continuing in 2025, demonstrating progress to our target financial profile
Trajectory continuing in 2025, demonstrating progress to our target financial profile Key figures H1 H1 In €m except otherwise stated +/- % 2024 2025 Revenues 3,419 3,612 +5.7% On track for organic growth guidance of mid-single- Organic Growth +3.9%1 digit in 2025, with expected acceleration in H2 A
Slide 7: Continued strong secular growth outlook in all Eurofins activities
Continued strong secular growth outlook in all Eurofins activities Long-term objective: 6.5% p.a. average organic growth Revenue share Organic growth Activities in H1 2025 Growth drivers outlook • Rising awareness and demand for food safety & quality • Food and Feed Testing and contamination & pollu
Slide 8: Europe is starting to close the profitability gap
Europe is starting to close the profitability gap – further opportunities from network leverage and IT costs in spite of significant start-up costs Europe North America Rest of the World 40% 40% 40% COVID revenue peak COVID revenue peak COVID revenue peak 30% 30% 30% 20% 20% 20% 10% 10% 10% 0% 0% 0%
Slide 9: Headwind from recent investments also reducing as non-mature assets ramp
Headwind from recent investments also reducing as non-mature assets ramp Mature scope Non-mature scope Total (€m) FY 2023 FY 2024 H1 2025 FY 2023 FY 2024 H1 2025 FY 2023 FY 2024 H1 2025 Revenues 6,189 6,555 3,361 325 396 251 6,515 6,951 3,612 Reported EBITDA 1,326 1,511 793 -92 -71 -20 1,234 1,439 7
Slide 10: Allocating growth capital with high incremental returns, with minimal external capital requirements
Allocating growth capital with high incremental returns, with minimal external capital requirements CAGR 20191 2023 2024 H1 2025 20193-2024 Adjusted EBITAS (m€) 574 842 1,017 531 +12% Capital discipline: Capital Employed (m€) 6,304 8,085 8,338 8,488 +6% ~22% return on Returns ROCE (%) 9.1% 10.4% 12.
Slide 11: Moving to self-financing of all needs, by increasing cash conversion
Moving to self-financing of all needs, by increasing cash conversion and disciplined use of capital FY 2023 FY 2024 Δ Δ% €m €m €m Reported EBITDA 1,234 1,439 • Eurofins was self-financing before share Change in net working capital (NWC) -65 44 buybacks in 2024, with improvement Income taxes paid -14
Slide 12: Credit profile remains strong and maturities extended through long-term refinancings
Credit profile remains strong and maturities extended through successful long-term refinancings Leverage1 Debt maturity profile2 (€m) Key Highlights Target range Hybrid (1st call) Eurofins’ balance sheet remains very solid FY 2027 as of the end of June 2025: 1.5x-2.5x objective: Schuldschein 2.1x to
Slide 13: Mid-term objectives – continued improvement in profitability and cash flow
Mid-term objectives – continued improvement in profitability and cash flow, with lower cost of growth • Long-term average organic growth target of 6.5% p.a. and potential average revenues from acquisitions of Revenue growth €250m p.a. over the period consolidated at mid-year. • Adj. EBITDA margin1 o
Slide 14: Actions have been taken on subjects of greatest importance to key stakeholders
Actions have been taken on subjects of greatest importance to Eurofins’ key stakeholders Subjects Actions taken • Following a shareholder vote at the 2025 Annual General Meeting, Eurofins increased the proportion of independent, non- executive directors on its Board of Directors to 67% by appointing
Slide 15: Summary
Summary Continued strong secular growth outlook in all Eurofins activities; mid-term Biopharma outlook is strong beyond current market headwinds Financial performance showing return to pre-COVID profit and cash flow trends Demonstrating leverage from volume and personnel costs across regions Further
Slide 16: Eurofins Food & Feed Testing Europe
CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd, 2025. All rights reserved. This document contains information that is confidential and proprietary to Eurofins Scientific SE and / or its affiliates and is solely for the use of the personnel of Eurofins Scientific SE and all its af
Slide 17: Eurofins operates the best-in-class Food & Feed Testing network in Europe
Eurofins operates the best-in-class Food & Feed Testing network in Europe Eurofins Food and Feed Testing European Network Market leader in all major regions • Germany • Spain, Portugal & Italy • UK & Ireland • Eastern Europe • France • Benelux • Nordics >100 laboratories throughout Europe 5 hubs off
Slide 18: Eurofins' Food & Feed Testing offering is the most comprehensive in the market
Eurofins’ Food & Feed Testing offering is the most comprehensive in the market Testing services throughout the Food & Feed value chain Agricultural production, Production Retail and distribution product development Comprehensive range of analytical techniques and services Microbiology Sensorial Diox
Slide 19: Our leading market position is underpinned by the trust of our customers
Our leading Food & Feed Testing market position is underpinned by the trust of our customers Food & beverage Agriculture Retailers Restaurants & Caterers producers Customers1 & Contracts Global players International conglomerates Supermarket chains Major operators Caterers + local farms & food + reg
Slide 20: Resilient broad-based revenue profile, with opportunities from consolidation
Resilient broad-based revenue profile, with opportunities from consolidation and deeper customer base Europe Food & Feed testing market1 Market segmentation – example of Germany1 Mix of end markets Eurofins customer concentration Wholesale 10 largest Retail Producers: customers 10 largest segments*
Slide 21: Why customers choose Eurofins
Why customers choose Eurofins Leading expertise One-stop-shop Customer service • Comprehensive portfolio of state-of-the-art • We test almost all types of products that are • Fast and swift local service - in the laboratory and analytical techniques, always up to date with consumed or used in food &
Slide 22: Finishing the Food & Feed Testing European Hub & Spoke network
Finishing the Food & Feed Testing European Hub & Spoke network will unlock further opportunities Europe-wide reach uniquely positions Eurofins to drive network efficiency: Target network profile Top 5 players’ presence by region1 • Standardised network composed of: Competitor Competitor Competitor C
Slide 23: Beyond Hub & Spoke, we continue to optimise our production footprint
Beyond Hub & Spoke, we continue to optimise our production footprint of specialty tests on a regional level Illustrative example of footprint consolidation of tests in a given sub area of activity (AoA), e.g. Pesticides Testing Start footprint Target footprint Benefits • Cluster of activities to Sub
Slide 24: Driving profitability by leveraging network scale and reach
Driving profitability by leveraging network scale and reach Shifting Europe mix to lower-cost Productivity from scale and technology locations Europe Food & Feed Testing Share of revenue in 2025 relative Revenue/FTE lower-cost locations cost per FTE ~30% increase 2020-25E ~6pt increase 2020-25E ~35%
Slide 25: Next steps in digitalisation, with complete suite of bespoke IT solutions
Next steps in digitalisation, with complete suite of bespoke IT solutions Why move to a single proprietary suite of IT solutions? Customer service benefits • Global clients expect the same service everywhere, with common interface, platform and delivery across countries Best functionality everywhere
Slide 26: Improving IT costs as a driver of profitability
Improving IT costs as a driver of profitability – new digital platform completion a key enabler Starting point Current transition phase End state • Europe Food & Feed Testing IT spend is above eLIMS-NG and other group average, with a ~€25m annualised cost Eurofins proprietary IT reduction opportunit
Slide 27: Differentiators and unique positioning
Differentiators and unique positioning Market leader, operating best-in-class Hub & Spoke Food & Feed Testing laboratory network in Europe Provider of choice to customers, with full offering and leading service Market Resilient and diverse demand drivers, with opportunities from leadership market co
Slide 28: Definitions / Alternative Performance Measures (APMs)
Definitions / Alternative Performance Measures (APMs) Adjusted results – reflect the ongoing performance of the mature and recurring activities excluding “separately disclosed items”. Separately disclosed items – include one-off costs from network expansion, integration and reorganisation, discontin