Slide 1: Investors' and Analysts' Conference Call H1 2025
INVESTORS’ AND ANALYSTS’ CONFERENCE CALL H1 2025 Grünwald, 26 August 2025
Slide 2: Agenda H1 2025
AGENDA H1 2025 1. Financial figures 2. Outlook 2025 2
Slide 3: 1 Financial figures
1 Financial figures 3
Slide 4: Highlights H1 2025
Highlights H1 2025 Stable business development with EBITDA growth in Q2 despite extraordinary effects Strong organic growth in high-margin branded pharmaceuticals driven by international business and therapeutic area allergology almost compensating for revenue decline in vaccine business,
Slide 5: Dermapharm Group Q2
Dermapharm Group Solid revenue growth in branded and other healthcare driving an adj. EBITDA margin improvement by 1.5%-points Total Revenue EBITDA1 EAT2 Solid Q2 revenue growth in branded products €m €m, adjusted €m (+7% ex vaccine) and other healthcare (+4%) -2.8% EBITDA 24.5% driven by all sub-
Slide 6: Dermapharm Group H1
Dermapharm Group Accelerating revenue growth in branded products and other healthcare segments offsets lower revenues from the parallel import business Total Revenue EBITDA1 EAT2 Revenue of €574.5m is -0.7% or €4.0m behind €m €m, adjusted €m prior year due to -0.7% EBITDA1 Margin accelerating orga
Slide 7: Earnings after tax (EAT)
Earnings after tax (EAT) Lower EAT attributable to exceptional income items recorded H1 2024 and below EBITDA items with the valuation of the interest hedges EAT €m ∆ Reported EBITDA ∆ Financial result 59.9 -6.8 54.1 -0.9 +9.7 -8.0 +3.2 -4.0 -1.6 +2.6 Q1 2024 comprised Exceptional revenue relating t
Slide 8: EBITDA adjustments attributable to optimisation measures
Dermapharm Group EBITDA adjustments attributable to optimisation measures €m H1 2025 H1 2024 Restructuring 2.8 axicorp, mibe Vertrieb, Arkopharma Reduction in shareholding 2.2 Wellster Additional cost of property 1.8 Arkopharma (Carros) Relocation to Friedrichsdorf 1.0 Candoro ethics Derecognition o
Slide 9: Net debt
Net debt Reduction by €127m since Sep 2023 underscores the strong cash generation capabilities Net debt Net debt decreases in Q2 2025 €m mainly driven by 984 937 reduced working capital (lower trade 921 919 919 receivables and increased payables) and 891 869 lower tax payments compared to Q1 2
Slide 10: Balance Sheet of Dermapharm Group
Balance Sheet of Dermapharm Group Increased current assets as of June in line with underling seasonality Total assets Total equity and liabilities Increased current assets, esp. trade €m €m receivables, inventory and liquid funds, in line with revenue seasonality Non-current assets, largely unch
Slide 11: Working capital
Working capital Stable net working capital in line with revenue generation €m 6M 2025 6M 2024 YoY Trade receivables increase in line with revenue growth in branded products and Inventory 350.3 350.7 -0.1% other healthcare; offset by higher trade Trade receivables 117.6 111.8 5.2% payables (cut-off)
Slide 12: Cash flows and cash conversion
Cash flows and cash conversion increasing cash conversion driven by higher cash flow from operating activitiers Cash flow and cash conversion1 CF from operating activities increased €m and in % of Group EBITDA due to €22.8m lower build up in broad working Cash 47.4% capital compared to prior yea
Slide 13: Cash Flow from operating activities
Cash Flow from operating activities mainly impacted by lower build up of working capital compared to prior year 6M 2025 6M 2024 YOY EBT 82.2 90.7 -8.5 Depreciation / amortisation fixed 40.0 41.9 -1.9 Largely unchanged to prior year, capex characterised by replacement assets capex in H1 2025 Net in
Slide 14: 2 Outlook 2025
2 Outlook 2025 Image: Günther Fotodesign
Slide 15: Outlook 2025
Outlook 2025 Current trading in line with budget, Management confirms the guidance for full year 2025 H1 2025 developed according to plan and lays a solid foundation for the second half of the year Growth $ Against this background, Management confirms the guidance for the full year 2025 strategy
Slide 16: Backup
Backup Image: Günther Fotodesign
Slide 17: Branded pharmaceuticals
Branded pharmaceuticals Strong organic growth in core portfolio and international business Revenue EBITDA1 Revenue increase of 4.0% to €288.2m, €m €m, adjusted driven by +4.0% YoY strong organic growth of 6.8% without 45.5% vaccine business in both, 277.1 288.2 EBITDA existing portfolio, esp. al
Slide 18: Other healthcare products
Other healthcare products Depreciation of the USD drives the decline in the Segment’s EBITDA inH1 2025 Revenue EBITDA1 Revenue increases slightly by +0.2% to €m €m, adjusted €179.9m, driven by organic growth of +0.2% Euromed’s B2B business and YoY 15.9% the German food supplements business 179.5
Slide 19: Parallel import business
Parallel import business Monthly EBITDA trend and operational KPIs confirm the effectiveness of the portfolio optimisation Revenue EBITDA1 Revenues decreases by -12.7% to €106.5m €m €m, adjusted -12.7% Contribution margin driven portfolio YoY optimisation initiated end of Q1 2025 0.9% 122.0 106.5
Slide 20: Earnings before tax (Group EBT)
Earnings before tax (Group EBT) Result decreases mainly due to exceptional revenues and interest income in Q1 2024 Earnings before tax (EBT)1 EBT decreases by -9.4% to €82.2m €m translating to an EBT margin of 14.3% 15.7% Lower EBT result mainly driven by EBT 14.3% lower vaccine related revenues (
Slide 21: Financial calendar
Financial calendar 2025 Annual Report 2024 Sustainability Report 2024 Analysts‘ and Half-year Investors‘ Call Annual General Financial Report Quarterly Statement FY 2024 Meeting 2025 as of June 2025 for Q3 2025 2025 28 March 26 June 26 August 13 November 14 March 15 May 12 August 2026 Quarterly Stat
Slide 22: Disclaimer
Disclaimer This publication includes statements, estimates, opinions and projections with respect to the anticipated future performance of Dermapharm Holding SE (together with its consolidated subsidiaries, “Dermapharm”) and such statements, estimates, opinions and projections (“Forward-Looking Stat
Slide 23: For information, please contact
For information, please contact Britta Hamberger Investor Relations & Corporate Communications Dermapharm Holding SE E-Mail: ir@dermapharm.com Phone: +49 (0) 89 641 86 233 Dermapharm FY 2021 23