Navamedic Asa · OSL:NAVA
Navamedic Asa — Q2 2025 Earnings Presentation
24 slides from Navamedic Asa's earnings presentation, Aug 14, 2025
Slide 1: Q2 and H1 2025 results
Q2 and H1 2025 Second quarter and first half year 2025 results 14 August 2025 Kathrine Gamborg Andreassen, CEO Lars Hjarrand, CFO
Slide 2: Stable growth in first half year, strategic levers set for continued growth
Q2/H1 2025 Stable growth in first half year, strategic levers set for continued growth HIGHLIGHTS FOR Q2 • First approval of OraFID® as REVENUE1 GROSS MARGIN1 EBITDA1 primary package for Flexilev Q2 137.3 MNOK 37.3% 10.1 MNOK • Acquisition of dne pharma and partly underwritten 2025 -12.2% YoY 46.1%
Slide 3: Prescription Drugs (RX): Mixed performance in the quarter
Prescription Drugs (RX) Mixed performance in the quarter Revenues Comments Q2 MYSIMBA® WHOLESALER Q2 68.2 MNOK Imdur® delivered strong revenues in the period and is up VOLUME Vol. (units 000) 2025 -2.8% YoY 101.0% YoY 200 150 Flexilev® continues to deliver revenue growth and is up 4.8% YoY 100 H1 13
Slide 4: Consumer Health: Varied development in the business area
Consumer Health Varied development in the business area Revenues Comments Q2 Q2 33.3 MNOK Eroxon® revenues increased by 10.7% YoY, after successful 2025 -3.5% YoY launch in Denmark Revenues of Modifast slightly down in the quarter (-1.1%) H1 ThermaCare stable YTD, but down in the quarter(-11.8%) 67.
Slide 5: Hospital: Strong segment growth led by antibiotics portfolio
Hospital Strong segment growth led by antibiotics portfolio Revenues Comments Q2 Q2 35.7 MNOK Recent tender wins have driven sales growth 2025 +23.5% YoY for the antibiotics portfolio, which is up 48.4% YoY H1 68.8 MNOK The Medical Nutrition portfolio showed 3.3% growth 2025 +19.4% YoY 5
Slide 6: Financials
mialelarelelis @ Navamedic
Slide 7: Key consolidated profit and loss figures
Financials Key consolidated profit and loss figures Comparison period Q2 2024 included license fee of 22.7 MNOK from Orion Pharma. (in NOK '1000) Q2 2025 Q2 2024 YTD 2025 YTD 2024 Year 2024 Adjusted for this, Q2 2025 was 2.8% Operating revenues 137 277 156 305 269 301 277 178 531 436 above LY and 5.
Slide 8: Assets
Financials Assets Inventory is mostly unchanged from (in NOK '1000) 30.06.2025 30.06.2024 31.12.2024 last quarter Goodwill 163 666 155 347 159 051 Deferred tax assets 934 930 934 Cash level at end of quarter solid at Other intangible assets 89 944 92 316 92 561 42.7 MNOK Property, plant and equipmen
Slide 9: Equity and liabilities
Financials Equity and liabilities (in NOK '1000) 30.06.2025 30.06.2024 31.12.2024 Total equity 216 553 226 291 216 673 Non-current interest-bearing borrowings 70 714 87 078 78 571 Non-current license liabilities 22 023 4 105 21 360 Equity ratio of 45%. Non-current right of use liabilities 595 2 914
Slide 10: Cash flow Group – total operations
Financials Cash flow Group – total operations Net cash from operating activities is the result of Profit Before Tax of -1.8 (in NOK '1000) Q2 2025 Q2 2024 YTD 2025 YTD 2024 Year 2024 MNOK, adjustments for non-cash items of 5.6 MNOK, Taxes of -2.0 Net cash flow from operating activities 373 11 104 9
Slide 11: Growth strategy
Growth strategy @ Navamedic
Slide 12: Delivering on our strategy: Becoming a NOK billion revenue company
Delivering on our strategy Becoming a NOK 1 billion revenue company GROWTH BASED ON A STRONG FOUNDATION 1 Unlocking the potential of existing products, categories, and territories. Strengthening the core through disciplined portfolio management, including the addition of attractive new products with
Slide 13: Mysimba – Reposition with local insights
Mysimba – Reposition with local insights Strategy: Reposition Mysimba for optimal patient, treatment, and timing alignment • Mysimba is uniquely aimed to aid patients struggling with Emotional Eating • Individual reimbursement in Norway and Finland • Transform efficacy perceptions (10-15% weight los
Slide 14: Q4 2025: Commercial launch of Flexilev in OraFID across the Nordics
Q4 2025: Commercial launch of Flexilev® in OraFID® across the Nordics Commercial update: Regulatory status: • 27 June 2025: First approval of the medical device OraFID® as primary package for a pharmaceutical FlexiLev®: product, enabling personalized, fine-tuned treatment with minitablets • It is ap
Slide 15: Continuing growth through M&A: Closed acquisition of dne pharma
Continuing growth through M&A 15 July 2025: Closed acquisition of dne pharma For better days OPIOD ADDICTION TREATMENT dne pharma is a Norwegian pharma company focusing addiction and pain therapies, including opioid substitution treatments and emergency overdose medications. The acquisition encompas
Slide 16: dne pharma is among the market leaders in opioid substitution treatment across the Nordics
#3 – Continuing growth through M&A dne pharma is among the market leaders in opioid substitution treatment across the Nordics 2024 Revenue split Key products Commercialisation status Product launched Methadone Currently Ventizolve® MA in Levopidon 30% Ventizolve Ventizolve® 39% NOK 62m Naloxone nasa
Slide 17: Key strategic benefits of acquiring dne pharma
#3 – Continuing growth through M&A Key strategic benefits of acquiring dne pharma 1 GROWTH THROUGH FULLY OWNED PRODUCTS Expands Navamedic’s portfolio of owned products, in line with the long-term strategy, with an expected annual EBITDA contribution of approx. NOK 25 million based on 2024 net sales.
Slide 18: Our ambition and vision
Our ambition Become a NOK 1 billion revenue company through profitable, sustainable growth Our vision Build a leading Nordic pharmaceutical company – a Proud Contributor to Public Health
Slide 19: Q&A
Q&A
Slide 20: Want to know more?
Want to know more? Visit our website www.navamedic.com/ Follow us on LinkedIn #InvestInNavamedic Navamedic’s Q3 2025 presentation will be held on October 28, 2025
Slide 21: Appendix
Appendix
Slide 22: Condensed consolidated statement of cash flows
Navamedic ASA Condensed consolidated statement of cash flows (in NOK '1000) Q2 2025 Q2 2024 YTD 2025 YTD 2024 Year 2024 Cash flow from operating activities Profit before tax -1 810 25 842 -3 608 24 044 -1 610 Adjusted for: Depreciation, amortization and impairment 4 240 3 761 7 911 7 322 40 342 Fina
Slide 23: Basis for preparation and Definitions of Alternative Performance Measures
• Appendix Basis for preparation This presentation provides financial highlights for the quarter for Navamedic Group. The financial information is not reported according to the requirements in IAS 34 (Interim Financial Reporting) and the figures are not audited. The same measurement principles as pr
Slide 24: Copyright and disclaimer
• Appendix Copyright and disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Navamedic and third-party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in a