Chemical Works of Gedeon Richter PLC · BET:RICHTER
Chemical Works of Gedeon Richter — Gedeon Richter — Q3 2026 Earnings Presentation
37 slides from Chemical Works of Gedeon Richter's earnings presentation, Nov 10, 2026
Slide 1: Q3 2026 Earnings Report
Q3 2026 Earnings Report 10 November 2026
Slide 2: Q3 2026 highlights – upgraded guidance on strong YTD delivery
Q3 2026 highlights – upgraded guidance on strong YTD delivery Upgraded to guidance Pharma Revenues (CER*) Q1-Q3 2026 CER revenue growth 11.7% above 10% growth 2026 1 Upgraded to Q1-Q3 2026 CER Clean EBIT growth 25% Pharma Clean EBIT (CER*) high-teens growth Q1 HUF 686.5bn HUF 229.9bn HUF 216.8bn 1 E
Slide 3: Financial and operational highlights
Financial and operational highlights Financial highlights • CER revenue growth was 11.7% in Q1-Q3 2026, slightly above the full-year guidance of high-single-digit growth. FX remained a major headwind with c. -9ppt negative impact on reported revenues in both Q3 and Q1-Q3. Hence, reported Pharma reve
Slide 4: Celebrating 10 Years of Advancing Fertility Care
Celebrating 10 Years of Advancing Fertility Care A decade of growth: From the acquisition of Finox Biotech in 2016 to a diversified, multi-product fertility portfolio with an expanding international presence, led by Richter's dedicated Global Fertility Hub in Geneva Building a More Connected Fertili
Slide 5: Financial Highlights
Financial Highlights 5 5
Slide 6: Jump in Q3 boosts Q1-Q3 CER revenues growth to 11.7%
Jump in Q3 (from a low base) boosts Q1-Q3 CER revenues growth to 11.7% Key messages • WHC sales growth accelerated further in Q3 Revenues, Reported CER (+19%, from a low base), bringing Q1-Q3 CER Q1-Q3 2026 HUFbn growth, % growth, % revenue growth to 11%. In Q3 sales grew in all regions and all ther
Slide 7: FX headwind remains; Eastern Europe, APAC slightly down YTD
FX headwind remains; Eastern Europe, APAC slightly down YTD Pharmaceutical Revenues, cumulative (HUF bn), reported Pharmaceutical Revenues by region (HUF bn) +2.6% Western Europe 128.9 686.5 139.9 668.8 3.3 131.1 43.2 5.4 53.6 Central Europe 133.4 184.4 176.1 Pharma other Eastern Europe 135.2 127.4
Slide 8: Opex on a steady and benign trajectory
Opex on a steady and benign trajectory Operating costs as a % of Pharma revenues (%)* Operating expenses (pharma) (HUFbn)* +5.8% 35 33 32 S&M expenses 31 31 32 79.3 30 30 30 30 30 76.1 74.9 29 73.9 R&D expenses 30 70.8 13.4 15.0 G&A expenses 25 12.6 14.4 13.5 21 20 19 19 18 18 20 17 18 17 16 22.6 23
Slide 9: Continued outstanding CER Clean EBIT growth (+25% in 2026 YTD)
Continued outstanding CER Clean EBIT growth (+25% in 2026 YTD) Pharmaceutical Clean EBIT, cumulative (HUF bn) Key messages Q1-Q3 2025 +7.9% • CER Clean EBIT growth further accelerated in Q3 – Q1-Q3 2026 213.1 229.9 supported by a lower Q3 base a year ago – and reached 26.4 25.4 25% in Q1-Q3 2026 YoY
Slide 10: Below-the-line: no large unusual items, net profit up 7% YoY
Below-the-line: no large unusual items, net profit up 7% YoY Net Profit in Q1-Q3 2026, below-Clean EBIT items (HUF bn) 229.9 Includes taxes calculated in line -13.1 216.8 with Global Minimum Tax -18.2 0.6 2.0 8.1 Including HUF -34.1 8.8bn restructuring 174.9 expenses -0.2 Including Q1: HUF 5.0bn FX
Slide 11: Strong cash generation, record-high FCF YTD (+12% YoY)
Strong cash generation, record-high FCF YTD (+12% YoY) Free Cash Flow in Q1-Q3 2026 (HUF bn) Key messages Application of Cash Flow • Free Cash Flow was HUF 223bn in Q1-Q3 240.0 2026, 12% higher YoY and a new record- 230.5 14.3 9.5 21.5 223.4 high level, primarily driven by stronger 11.9 3.7 operatin
Slide 12: Research and Development
Research and Development R&D 12 12
Slide 13: R&D pipeline – changes during Q3 2026
R&D pipeline – changes during Q3 2026 Market Preclinical phase Clinical phase Regulatory & Launch Phase 1 Phase 3 Phase 2 Own Technology Development Clinical phase Neuropsychiatry Biotechnology Women’s Healthcare Own RSL* General Medicines new discontinued License 13 * Ready-to-Sell Licensed pipelin
Slide 14: Neuropsychiatry
Neuropsychiatry CNS 14 14
Slide 15: CNS: continued strong CER revenue growth, robust profitability
CNS CNS: continued strong CER revenue growth, robust profitability CNS | HUF mn Q3 2025 Q3 2026 Ch. % YoY Q1-Q3 2025 Q1-Q3 2026 Ch. % YoY Revenue (HUFbn) Revenues 67 072 69 011 3 191 466 201 970 5 +5.5% Cost of Sales -363 -498 37 -1 151 -1 478 28 (CER: +18.7%) +2.9% (CER: +13.7%) Gross Profit 66 709
Slide 16: Vraylar: double-digit demand growth, raised guidance; Reagila flies
CNS Vraylar®: double-digit demand growth, raised guidance; Reagila® flies Vraylar® Key messages • Vraylar® royalty income reached HUF 64bn in Q3 +4.3% +0.4% and HUF 189bn in Q1-Q3 (+4% YoY); hedging 68.9 188.7 helped to mitigate the impact of FX fluctuations. 64.1 65.7 64.3 181.0 58.7 163.9 • Vrayla
Slide 17: Women's Healthcare
Women’s Healthcare WHC 17 17
Slide 18: Double-digit (CER) revenue growth, higher R&D, flattish EBIT
WHC Double-digit (CER) revenue growth, higher R&D, flattish EBIT WHC | HUF mn Q3 2025 Q3 2026 Ch. % YoY Q1-Q3 2025 Q1-Q3 2026 Ch. % YoY Revenue (HUFbn) Revenues 75 548 84 205 11.5 244 309 251 509 2.9 +2.9% Cost of Sales -28 078 -29 922 7 -80 972 -85 965 6 (CER +10.9%) Gross Profit 47 470 54 283 14 1
Slide 19: All TAs saw higher sales in Q3 YoY, UF/EM growth stands out
WHC All TAs saw higher sales in Q3 YoY, UF/EM growth stands out Total WHC revenues by therapeutic areas (quarterly, HUF bn) Key messages +11.5% Diversification of WHC portfolio towards the fast-growing focus 87.9 TAs was, overall, in line with expectations in Q3 2026. Uterine Other WHC 84.3 84.2 79.
Slide 20: Ryeqo outstanding; Lenzetto faces demand-supply challenges
WHC | Ryeqo® outstanding; Lenzetto® faces demand- Highlighted brands supply challenges Ryeqo® Lenzetto® +46.3% +13.2% 12.8 6.8 11.8 6.1 6.4 10.7 5.6 9.6 5.1 8.7 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 +55.7% +32.8% 35.3 18.2 13.7 22.6 8.4 11.5 Q1-Q3 2024 Q1-Q3
Slide 21: Drovelis slightly weaker; EVRA solid; Bemfola affected by seasonality
WHC | Drovelis® slightly weaker; EVRA® solid; Bemfola® Highlighted brands affected by seasonality in Q3 – all to be on full-year target (CER) EVRA® Drovelis® Bemfola® -6.0% -4.6% +6.6% 10.1 8.7 5.5 9.5 7.8 7.8 5.1 5.0 7.5 8.1 8.1 8.1 7.0 3.6 3.8 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 202
Slide 22: Biotechnology
Biotechnology BIO 22 22
Slide 23: Breaking even in Q3 on strong revenues, gross margin, lower R&D
BIO Breaking even in Q3 on strong revenues, gross margin, lower R&D BIO | HUF mn Q3 2025 Q3 2026 Ch. % YoY Q1-Q3 2025 Q1-Q3 2026 Ch. % YoY Revenue (HUFbn) Revenues 13 751 18 380 34 43 194 53 592 24 +24.1% (CER: +34.9%) Cost of Sales -10 389 -11 514 11 -29 413 -33 245 13 +33.7% (CER: +44.6%) Gross Pr
Slide 24: Biosimilars, CDMO revenues all contribute to strong YTD growth
BIO Biosimilars, CDMO revenues all contribute to strong YTD growth Teriparatide Key messages +16.3% • Teriparatide biosimilar (incl. Terrosa®) +4.7% revenues are essentially steady. Although Q3 9.3 25.9 sales growth was still double-digit YoY (CER), 8.4 8.6 7.7 8.0 22.3 but revenues were slightly lo
Slide 25: General Medicines
General Medicines GM 25 25
Slide 26: Improving from a low base; opex discipline keeps cEBIT flat YTD
GM Improving from a low base; opex discipline keeps cEBIT flat YTD GM | HUF mn Q3 2025 Q3 2026 Ch. % YoY Q1-Q3 2025 Q1-Q3 2026 Ch. % YoY Revenue (HUFbn) Revenues 53 561 58 666 10 184 391 176 076 -5 -4.5% Cost of Sales -28 447 -29 395 3 -87 768 -86 536 -1 (CER: +1.4%) +9.5% (CER: +16.6%) Gross Profit
Slide 27: Improving performance in core TAs; weaker OTC/non-strategic
GM Improving performance in core TAs; weaker OTC/non-strategic Total GenMed revenues by therapeutic areas (quarterly, HUF bn) Key messages +9.5% • Pain & neurology category continued to build on the Blood&metabolic 65.1 stabilization of our market position for Mydocalm/Mydeton 4.9 59.7 57.7 58.7 and
Slide 28: Appendix
Appendix @ GEDEON RICHTER
Slide 29: Net financials expenses broadly unchanged in Q1-Q3 YoY
Net financials expenses broadly unchanged in Q1-Q3 YoY Q3 2025 Q3 2026 Diff Q3 Q1-Q3 2025 Q1-Q3 2026 Diff Q1-Q3 -10.6 10.5 21.1 Unrealised exchange (loss)/gain -4.0 -6.0 -1.9 -8.3 -1.5 6.7 Realised exchange (loss)/gain -20.6 -12.3 8.4 Result of realised & unrealised 2.0 -2.6 -4.5 4.3 -3.4 -7.7 forwa
Slide 30: Business units' P&L in Q1-Q3 2026
Business units’ P&L in Q1-Q3 2026 Adjustments Q1-Q3 2026 Reported Intangible Restructuring Other Non- Clean WHC CNS BIO GenMed Pharma & PPE cost items pharma Pharma other impairment segment Revenues 695.9 0.0 0.0 0.0 9.4 686.5 251.5 202.0 53.6 176.1 3.3 Cost of Sales -221.8 0.0 -3.9 0.0 -5.9 -212.0
Slide 31: Strategic positioning and vision of the business units
Strategic positioning and vision of the business units Pharma | Pharmaceuticals segment Name of the Business Units Brief description Key strategic goal Therapeutic areas Leveraging our world class early phase R&D capability Maximize the potential of cariprazine, while developing in the central nervo
Slide 32: Consolidated Income Statement
Consolidated Income Statement 2025 Q1-Q3 2026 Q1-Q3 2025 Change Consolidated P&L HUFm HUFm HUFm % 928 962 Revenues 695 878 680 201 2.3% 259 719 of which royalty 197 194 190 427 3.6% (288 051) Cost of Sales (221 764) (212 514) 4.4% 640 911 Gross Profit 474 114 467 687 1.4% (166 128) Sales & marketing
Slide 33: Consolidated Balance Sheet - ASSETS
Consolidated Balance Sheet - ASSETS 30 Sep 2026 31 Dec 2025 Change Consolidated Balance Sheet HUFm HUFm % ASSETS 1 763 212 1 698 220 3.8% Non-current assets 907 371 918 967 -1.3% Property, plant and equipment 373 455 383 667 -2.7% Goodwill 41 947 42 155 -0.5% Other intangible assets 275 645 293 428
Slide 34: Consolidated Balance Sheet - EQUITY AND LIABILITIES
Consolidated Balance Sheet - EQUITY AND LIABILITIES 30 Sep 2026 31 Dec 2025 Change Consolidated Balance Sheet HUFm HUFm % EQUITY AND LIABILITIES 1 763 212 1 698 220 3.8% Capital and reserves 1 441 136 1 400 889 2.9% Share capital 18 638 18 638 0.0% Treasury shares (34 166) (34 021) 0.4% Share premiu
Slide 35: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement 31 Dec 2025 30 Sep 2026 30 Sep 2025 Change Consolidated cash-flow HUFm HUFm HUFm % Operating activities 284 747 Profit before income tax 209 282 197 158 6.1% 60 463 Depreciation and amortisation 45 343 44 276 2.4% 9 690 Non-cash items 17 838 6 800 162.3% (5 402) Net
Slide 36: Contacts and Financial calendar
Contacts Financial calendar Company name: Gedeon Richter Plc. | 10 November 2026 – Q3/Q1-Q3 2026 results Sector: Pharmaceutical Company address: 1103 Budapest, Gyömrői street 19-21., Hungary Telephone: +36 1 431 5764 Investor relations manager Róbert Réthy, CFA +36 20 342 2555 investor.relations@ged
Slide 37: Disclaimer
Disclaimer This presentation may contain forward-looking statements, that may include, but are not limited to, those regarding capital, investment, cash flows, demand, earnings, efficiency, production, profits. These forward-looking statements are subject to risks, uncertainties, and other factors,