Uniphar Plc · EURONEXT:UPR
Uniphar — H1 2026 Earnings Presentation
39 slides from Uniphar's earnings presentation, Sep 8, 2026
Slide 1: Solving problems for healthcare: H1 26 Preliminary Results Presentation
Solving problems for healthcare H1 26 Preliminary Results Presentation
Slide 2: Important Notice
This presentation has been prepared solely in connection with the financial results of Uniphar plc (the "Company") for the period ended 30 June 2026 and should be read in conjunction with the announcement of the interim results of the Company for the period ended 30 June 2026, released 08 September
Slide 3: Agenda
Agenda Overview & Highlights Call Participants 01 Ger Rabbette 02 Divisional Review Chief Executive Officer Tim Dolphin 03 Investment Update Chief Financial Officer 04 Financial Review Brian O'Shaughnessy Chief Commercial Officer 05 Capital Allocation & Investment Case Dermot Ryan Chief Operating Of
Slide 4: Overview & Highlights
Overview & Highlights 4
Slide 5: Uniphar at a glance
Uniphar at a glance A diversified international healthcare services provider Supporting 200 multinational pharmaceutical and medtech 200 manufacturers across €200m three divisions EBITDA target by 2028 Active in Europe, North America, 4 APAC and MENA At least80% of growth to be organic 160+ Deliveri
Slide 6: Solving problems for healthcare
Solving problems for healthcare Healthcare manufacturers Healthcare stakeholders Large pharma All of the top 10 Product approval Patients are Uniphar clients Pricing and payment Access key opinion leaders Doctors / Biotech consultants We are the leading global player in Cell Finding patients and Gen
Slide 7: Financial Highlights
Financial Highlights Strong progress during the period Organic gross profit growth across all divisions Organic gross EBITDA profit growth growth of 6.2%, of 6.9% to accelerate H2 6.9% organic €2m (€1m) €236m growth €6m M&A FX EPS growth ROCE of 14.7% €5m of 11.2% within our 12-15% SC&R target2 €4m
Slide 8: Our strong track record since IPO
Our strong track record since IPO Gross Profit (€m) EBITDA (€m) 457.7 130.9 180.6 58.6 2019 2025 2019 2025 Margins (%) EPS1 (cent) Gross margin EBITDA margin 4.3 14.9 3.5 24.8 10.8 10.1 2019 2025 2019 2025 2019 2025 1. Adjusted EPS has been calculated based on 2025 weighted average shares in issue 8
Slide 9: Sustainability Highlights
Sustainability Highlights Sustainability is at the core of what we do and is deeply embedded in our business strategy Environment Social Governance • Climate Change • Our People • Business Conduct • Resource Use & Circular • Workers in our Supply Chain • Compliance with UK code Economy • Our Patient
Slide 10: Divisional Review
‘Divisional Review wie 10
Slide 11: 3 divisions serving our healthcare customers
3 divisions serving our healthcare customers Global Speciality Europe Speciality Ireland Mass market 29% 27% 44% High growth % of Group High growth % of Group Infrastructure % of Group gross profit gross profit play gross profit 11
Slide 12: Structural Drivers
Structural Drivers Supply chain Patient/HCP Biotech Large pharma complexity awareness Account for 85% of Increasingly focused Consolidation of generic Greater patient and global development on larger markets only manufacturing and HCP awareness of new pipeline and 60% greater product medicines avail
Slide 13: How Uniphar Pharma wins
How Uniphar Pharma wins Services for Support for speciality medicines Pharma/Biotech from pre-reimbursement access Customers through to peak sales Global platform Leveraging global capabilities and a common platform to deliver high value solutions to manufacturers and hospitals We accelerate patient
Slide 14: Providing access to unlicensed and specialty medicines globally
Providing access to unlicensed Growth drivers during H1 2026 and specialty medicines globally Revenue Gross profit • Solid organic gross profit growth. New business Revenue and momentum supports an acceleration in H2 26 Gross Profit €370m €69m Reported Organic • Leading platform meeting high demand
Slide 15: Structural Drivers
Structural Drivers Large and fragmented Shift from direct Smaller players Portfolio change European market to indirect/hybrid lack infrastructure The total European Large manufacturers are There are a growing number Manufacturers are Medtech distribution moving from direct to of small, innovative in
Slide 16: How Uniphar Medtech wins
How Uniphar Medtech wins High value specialisms; Orthopedics European platform Connected Care Full service medical device commercialisation model Leading Hospital medtech Interventional Expanding into new regions, specialties and services consultants manufacturers Diagnostic Imaging Multi-decade rel
Slide 17: Sales, marketing and distribution solutions for manufacturers
Sales, marketing and distribution Growth drivers during H1 2026 solutions for manufacturers • Very strong organic growth, with a healthy pipeline Revenue Gross profit Revenue and supporting continued momentum Gross Profit €152m €63m • Growth in all specialities Reported Organic Gross Profit Growth 9
Slide 18: How Uniphar SC+R wins
How Uniphar SC+R wins Buying groups Ireland only platform Franchise groups Leading player in the Irish pharmaceutical market Wholesale Retail market Direct pharmacy ownership market Vertically integrated across wholesale and retail channel leadership leadership Consumer brands Strong moat, high barr
Slide 19: Leader in the Irish pharmaceutical market
Leader in the Irish pharmaceutical market. Growth drivers during H1 2026 Supported by a network of 512 pharmacies1 • We continue to win market share in a Revenue Gross profit Revenue and growing Irish wholesale market Gross Profit €1,069m €105m • Strong wholesale growth across all categories Reporte
Slide 20: Investment Update
Investment Update 20
Slide 21: Infrastructure for €200m EBITDA and beyond
Infrastructure for €200m EBITDA and beyond Dublin, Ireland Lelystad, The Netherlands Ireland expansion: European expansion: • LEED Gold standard • BREEAM Excellent standard distribution centre distribution centre • 330k square feet • 85K square feet • 440,000 ambient • 10,000 ambient storage locatio
Slide 22: Flagship Irish Distribution Facility
Flagship Irish Distribution Facility Aging population Doubled our Transform customer Drivers market growth at market share in experience ≈2% annually 10 years to 50%+ Distribution Capabilities Capacity Reduces direct pick costs by Futureproof 50% & deliver better efficiency capacity by >2x Return 12
Slide 23: Irish Distribution Facility Update
Irish Distribution Facility Update • Go live in February 2027 Feb 27 Go Live commences • Phased roll-out during H1 2027 • Extended timeline allows for additional end- to-end testing and minimises execution risk during peak operational period in Q4 Feb – Aug 27 Dual Running • Incremental capital expe
Slide 24: Financial Review
Financial Review 24
Slide 25: Financial Highlights
Financial Highlights % Growth Organic gross profit growth across all three Constant divisions (€m) H1’26 H1’25 Reported Organic2 6.9% currency1 Revenue 1,591.8 1,485.5 7.2% 7.4% Gross profit 236.5 219.7 7.7% 8.2% 6.9% Double-digit adjusted EPS growth 11.2% Gross profit 14.9% 14.8% margin EBITDA 61.1
Slide 26: Divisional Performance
Divisional Performance Diversified healthcare services business Divisional Composition focused on higher margin opportunities 29% Gross profit EBITDA H1’26 €236.5m 44% Growth Organic Growth GP €’m Margin €’m Margin % Growth % % 68.5 7.0% 7.0% 18.5% 14.0 3.9% 3.8% 27% 62.7 9.0% 9.0% 41.2% 24.1 11.5%
Slide 27: Net Bank Debt Analysis
Net Bank Debt1 Analysis 12.5 11.6 275.7 €275.7m 9.3 Net bank debt at 30 Jun 2026 9.1 27.5 9.1 86.5 171.1 €36.6m Capital Expenditure (61.1) (€47.0m) Free cashflow (FCF %: (77.1%)) YE 2025 EBITDA Net Working Capex Strategic Tax Finance Lease Other2 H1 2026 Capital Capex Costs Payments 27 1. Net bank d
Slide 28: FCF Conversion
FCF Conversion Free cash flow Free Cashflow (FCF) H1’26 H1’25 €’m 2028 Target 60-70% EBITDA 61.1 57.5 conversion at €200m Net Working Capital (86.5) (17.1) Capital expenditure (9.1) (8.5) Lease payments (12.5) (11.7) We target FCF1 Reported free conversion of 60-70% cashflow during the at €200m EBIT
Slide 29: Capital Allocation & Investment Case
Capital Allocation & Investment Case 29
Slide 30: Creating shareholder value
Creating shareholder value Discipline and balanced investment approach Organic Investment Growth Through M&A Net Bank Debt Capital Allocation • Continue to invest in • Fundamental component of • Not to exceed 2.5x in the • Progressive dividend reflecting infrastructure, digital compounding growth st
Slide 31: M&A: Pipeline focus
M&A: Pipeline focus Acquisition Pipeline Criteria Retention of Cultural fit: Target ROCE Divisional management talent Innovative 12%-15% focus and expertise and ambitious within 3 years Market Access European distributors Independent across core specialities retail pharmacies Commercialisation platf
Slide 32: Ambition to deliver €200m EBITDA by 2028
Ambition to deliver €200m EBITDA by 2028 We expect over 80% EBITDA growth to be organic Group guidance | medium term metrics €200m >80% organic growth ROCE FCF Conversion Dividend At €200m M&A EBITDA Pharma 12% - 15% 60% - 70% Dividend Net Bank Debt / Medtech EBITDA not to €99m exceed SC&R Progressi
Slide 33: Investment Case
Investment Case Experienced Strong Compelling Each Clear Greater senior team, track record market division has pathway capabilities tried and tested opportunity in an attractive for success = bigger all 3 divisions competitive opportunities moat 33
Slide 34: Appendices
Appendices 34
Slide 35: Summary Management Balance Sheet
Appendices Summary Management Balance Sheet1 Balance Sheet (€’000) 30 Jun 2026 31 Dec 2025 Goodwill and acquired intangible assets 520,732 519,474 IFRS 16 Right of Use Asset 145,738 145,536 Other non-current assets 274,810 238,328 Total non-current assets 941,279 903,338 Inventory 308,438 295,276 Tr
Slide 36: Return on Capital Employed
Appendices Return on Capital Employed 12-Month Rolling 30 Jun (€’000) H1'24 H1’25 H1’26 Numerator Rolling 12 months operating profit 82,369 79,669 Adjustment for exceptional costs 4,806 14,087 Amortisation of acquisition related intangibles 3,432 3,547 Adjusted 12 months operating profit 90,607 97,3
Slide 37: Summary Group Financial Information
Appendices Summary Group Financial Information Six months ended 30 June (€’000) H1’26 H1’25 Reported % Growth Revenue 1,591,855 1,485,492 7.2% Gross profit 236,490 219,651 7.7% Overheads & operating income1 (175,431) (162,156) 8.2% EBITDA 61,059 57,495 6.2% Depreciation & amortisation (18,380) (17,1
Slide 38: EBITDA Reconciliation
Appendices EBITDA Reconciliation EBITDA is earnings before interest, tax, depreciation, amortisation, share-based payments and exceptional items Six months ended 30 June (€’000) H1’26 H1’25 Operating profit pre-exceptional 40,796 38,472 Share-based payments 1,883 1,883 Depreciation 14,520 13,777 Amo
Slide 39: Contact Details
Contact Details Allan Smylie Head of Strategy and Investor Relations +353 (0)1 428 7777 investor.relations@uniphar.ie Q4 PR Public Relations Adviser to Uniphar Iarla Mongey +353 (0)1 475 1444 39