Slide 1: Q1 2024 Results
Q1 2024 Results Matthias Gaertner, CEO Falk Neukirch, CFO May 07, 2024
Slide 2: Agenda
1. Executive summary 2. Financial overview 3. Guidance 2024, growth story 4. Appendix 2
Slide 3: Highlights Q1 2024
Executive summary Highlights Q1 2024 Solid Group financials for Q1 2024 driven by PS business: • Revenue increase of 5.8% to c. €456m; EBITDA pre increased by 0.8% to €15.1m • Strong operating CF due to positive operating result and actively managed working capital on Financials the reporting date •
Slide 4: Snapshot Ceban Pharmaceuticals
Executive summary Snapshot Ceban Pharmaceuticals Ceban Pharmaceuticals • Leading full-service compounding services platform • Diversified business model covering the full compounding value chain: Founded Headquarters Employees · Compounding Services (non-sterile and sterile) 2004 Breda, Netherlands
Slide 5: Excellent geographic coverage through a market leading German and strong European network
Executive summary Excellent geographic coverage through a market leading German and strong European network With the acquisition of Hamburg Ceban*, Medios will have a leading position in Osnabrueck Berlin (HQ) Specialty Pharma compounding Bonn in Europe Aschaffenburg Mannheim Saarlouis Magstadt Germ
Slide 6: QoQ – Revenue and EBITDA pre growth
Executive summary QoQ – Revenue and EBITDA pre growth Revenue (€m) EBITDA pre¹ €m 17.2 490 15.3 15.0 15.1 456 14.1 14.3 14.1 14.3 431 422 441 419 393 399 399 11.1 3.6 2.7 3.6 3.6 3.4 3.5 3.3 3.5 3.2 3.3 3.0 3.6 3.6 3.4 3.4 3.0 2.8 2.8 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 2
Slide 7: YoY: Continuous revenue growth
Executive summary YoY: Continuous revenue growth Revenue in €m EBITDA pre¹ in €m +5.8% 0.8% 431 456 15.0 15.1 Q1 2023 Q1 2024 Q1 2023 Q1 2024 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization. EBITDA pre is adjusted for special charges for stock optio
Slide 8: Agenda
1. Executive summary 2. Financial overview 3. Guidance 2024, growth story 4. Appendix 8
Slide 9: Q1 2024 – Solid Group financials and strong operating CF
Financial overview Q1 2024 – Solid Group financials and strong operating CF In € million Q1 2024 Q1 2023 ∆ in % Comments Revenue 456.2 431.2 5.8% • Revenue driven by PS segment Gross profit1 27.6 27.9 -0.9% • Gross profit almost flat; growth in PS segment consumed by lower gross profit of PST due to
Slide 10: Q1 2024 – Strong PS business; PST impacted by regulatory effects
Financial overview Q1 2024 – Strong PS business; PST impacted by regulatory effects Pharmaceutical Patient-specific Internal Services IFRS consolidation Group Supply ‘PS‘ Therapies ‘PST’ FY YoY in € million Q1 24 Q1 23 Q1 24 Q1 23 Q1 24 Q1 23 Q1 24 Q1 23 Q1 24 Q1 23 Total segment revenue 436.3 401.9
Slide 11: Agenda
1. Executive summary 2. Financial overview 3. Guidance 2024, growth story 4. Appendix 11
Slide 12: New Group: Significant revenue & EBITDA pre increase expected
Guidance 2024, mid-term outlook 2025 Guidance 2024 & growth story 2.15 New Group: Significant revenue & Revenue (€bn) + ~7.5% EBITDA pre* increase expected 1.90 - 2.10 + ~11.1% Guidance FY2023 met ~1.80 Guidance FY 2024 based on: • Ceban expected to be fully consolidated beginning of May, 2024 • EBI
Slide 13: Clear strategy to build the leading European Specialty Pharma Platform
Guidance 2024, growth story Clear strategy to build the leading European Specialty Pharma Platform Continue evolving our Specialty Pharma business in Germany Building the leading Target for 2025 Expand compounding within European ~ €2.15bn Revenue Europe to gain continued growth, Specialty while inc
Slide 14: Agenda
1. Executive summary 2. Financial overview 3. Guidance 2024, growth story 4. Appendix 14
Slide 15: Ceban: Transformative and value enhancing acquisition
Executive summary - Events after the consolidated balance sheet date Ceban: Transformative and value enhancing acquisition • First step in Medios internationalization Internationalization • Immediate market entry into three European countries: NL, BE, ES • A leading position in compounding in Northw
Slide 16: Ceban operates synergistic positions across the compounding value chain
Ceban – Deep dive Ceban operates synergistic positions across the compounding value chain Compounding Services API Services Pharmacies • Tailor-made medication • Sourcing, repacking and • 23 owned pharmacies across compounded at GMP-compliant distributing APIs and excipients the Netherlands under th
Slide 17: Debt financing and repayment
Financial overview Debt financing and repayment Financing of Ceban acquisition and €m available funds • Bridge loan of 200m€ to be replaced by €200m syndicate loan or bond by end of 2024 • expected positive annual free cash flow after interest payments (c. €30- 40m) fully available for redemption of
Slide 18: Key figures (1/2)
Appendix Key figures (1/2) in € thousand Q1 2024 Q1 2023 ∆ in % Revenue 456,224 431,238 5.8% Pharmaceutical Supply 401,042 368,144 8.9% Patient-Specific Therapies 55,061 62,937 -12.5% Services 121 158 -23.4% EBITDA 11,733 13,293 -11.7% Margin (in % of Revenue) 2.6% 3.1% -16.1% EBITDA pre1 15,076 14,
Slide 19: Key figures (2/2)
Appendix Key figures (2/2) in € thousand Q1 2024 Q1 2023 ∆ in % Earnings per share (in €) Undiluted 0.17 0.20 -16.2% Diluted 0.17 0.20 -16.2% Investments (CAPEX) 466 275 69.5% Cash flow from operating activities 43,385 -25,338 <-100.0% Free cash flow3 (before M&A) 42,919 -25,613 <-100.0% Extraordina
Slide 20: Contact
Contact Claudia Nickolaus Head of Investor & Public Relations, ESG Communications Phone +49 30 232 566 800 c.nickolaus@medios.ag
Slide 21: 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 22: Q1 2024 Results
Q1 2024 Results Matthias Gaertner, CEO Falk Neukirch, CFO May 07, 2024