Slide 1: Q3 presentation
Q3 presentation 16 November 2022
Slide 2: Four attractive niches of animal health
Four attractive niches of animal health Specialty Pharma MedTech Veterinary Services Diagnostics 44% revenue 36% revenue 13% revenue 7% revenue 320 employees 240 employees 220 employees 105 employees Leading global provider of ⁄ Leading provider of veterinary ⁄ Membership platform for ⁄ Livestock an
Slide 3: With a global footprint and network of KOLs
With a global footprint and network of KOLs 3Q 22 Europe 45% 2021 3Q 22 USA 58% 47% 2021 35% 3Q 22 APAC 7% 2021 7% Offices Vimian companies HQ (Stockholm, Sweden) Direct sales markets Page 3 * Revenue split based on 3Q 2022 reported revenue
Slide 4: Third Quarter 2022
Third Quarter 2022 Page 4
Slide 5: Q3 highlights
Q3 highlights / Acceleration of growth, solid performance in largest segments / Focus on integrating acquired companies / Welcomed heiland.com – strategic milestone to digitalise service offering for clinics / Strengthened position in customised specialty pharmaceuticals / Successful capital raise –
Slide 6: Group Financial Highlights Q3 2022
Group Financial Highlights Q3 2022 Revenue and Adj. EBITA Adj EBITA (EURm) Revenue (EURm) x% Adj EBITA margin x% Organic growth (%) / Total revenue growth 70.9% 80 35 / Organic growth 5.2%, companion 70,9 animal businesses 8.3% 70 67,9 67,0 30 60 / Pro-forma organic growth ~7%, 25 companion animal b
Slide 7: Group Financial Highlights YTD 2022
Group Financial Highlights YTD 2022 / Total revenue growth 65.1% Revenue and Adj. EBITA Adj EBITA (EURm) Revenue (EURm) x% Adj EBITA margin x% Organic growth (%) / Organic growth 4.0%, companion animal 9.5% +65% 220 70 / Acquired growth 54.8% 205,9 65 200 55,4 60 / FX tailwind 6.3%, mainly USD/EUR 1
Slide 8: Strong track record since 2016
Strong track record since 2016 44X +109% 288 / High-growth verticals with untapped white space 215 / Growth driven both by strong organic performance and continuous M&A / Multiple organic growth initiatives 138 underway and synergy potential 103 83 67 45 49 37 Revenue CAGR Adj. EBITDA margin Adj. EB
Slide 9: Specialty Pharma
Specialty Pharma 3Q 44% revenue / Solid quarter with 9% pro-forma organic growth giving YTD 17.5% ✓ >40% growth in Specialty Pharmaceuticals (Bova UK) - strengthened market positions and innovation capabilities, 24% of 3Q sales from new products ✓ Double digit growth in GlobalOne Pet Products, 12% o
Slide 10: MedTech
MedTech 3Q 36% revenue / Solid quarter with 9.9% organic growth giving YTD 10.1% / Strong momentum in US, high activity among surgeons and patients on waitlists – education key to unlock higher caseload / Back orders reduced to $600k. Mid-term price increases on parts of portfolio / All acquired dis
Slide 11: Educations to unlock market growth
Educations to unlock market growth / 94 physical surgery trainings YTD / 1130 veterinary professionals attended / Movora Symposium in September - 120 attendees from 15 countries / Inauguration of new Movora education center in Boston in summer / True surgical suite experience, lecture classroom, dem
Slide 12: Veterinary Services
13% Veterinary Services 3Q revenue / 2.5% organic growth impacted by timing of revenue bookings last year, strong underlying organic growth / Strong member growth despite clinic summer holidays / Strengthened team around heiland.com to prepare expansion and unlock full potential / Launched new marke
Slide 13: Diagnostics
7% Diagnostics 3Q revenue / 16.9% organic decline due to Covid phase out, excluding Covid impact organic growth around 10% / Strong execution in all regions have offset macroeconomic headwinds in livestock diagnostics / Focus on new growth segments and cost synergies in acquired companies across pro
Slide 14: Twelve acquisitions signed YTD with combined revenue EUR 54m
Twelve acquisitions signed YTD with combined revenue EUR 54m Revenue Closing Portfolio Geographic Channels / New capabilities Segment Company Geography Integration status EURm month expansion expansion Customers / Technology Foundation for geographic expansion, EUR 10m UK February accelerated produc
Slide 15: Case Study. Distributor acquisition – drive growth and profitability
Case Study. Distributor acquisition – drive growth and profitability Improved gross margin from ~40% in 2020 to ~57% LTM 3Q22 EBITDA increased by 135% 9.2x MoM in 1.5 years (at current Vimian valuation) +135% 90 80 70 57% 60 50 40% 40 30 20 10 0 2020 LTM 3Q22 Gross margin Adjusted EBITDA Page 15
Slide 16: Vimian has created a unique platform across the value chain
Vimian has created a unique platform across the value chain VIMIAN PRODUCT PORTFOLIO VIMIAN SERVICE PLATFORM VET CLINICS PET PARENTS Category Comment Community Specialty Pharma Allergy diagnostics & treatment Dermatology & specialty care Specialised nutrition NEW 2022 Online Speciality Pharmaceutica
Slide 17: Third Quarter Financials
Third Quarter Financials Page 17
Slide 18: Income Statement
Income Statement EUR m 2022 2021 2022 2021 / Strong growth in revenue and adjusted EBITA Jul – Sep Jul – Sep Jan – Sep Jan – Sep / Significant uplift in operating profit Revenue 70.9 41.5 205.9 124.6 Adjusted EBITA 17.2 11.6 55.4 41.4 / Loss before tax of EUR 0.6m due to high financial items Operati
Slide 19: Cash Flow and Financial Position
Percent 2022 2021 2022 2021 Cash Flow and Financial Position Jul-Sep Jul-Sep Jan-Sep Jan-Sep / Cash conversion of 5% in 3Q, 39% YTD Cash Conversion 5% 61% 39% 68% / Operating cash flow 3Q EUR 1m (9M 24) 2022 2021 2022 2021 EUR m Jul-Sep Jul-Sep Jan-Sep Jan-Sep Cash flow from operating / Change in NW
Slide 20: Net Debt and Leverage
Net Debt and Leverage Leverage Net Debt (EUR m) 360 340 341 / Net debt per 30 September 2022 EUR 340.9m 340 320 300 / Cash and cash equivalents EUR 51.2m 280 267 4.3x 260 4.1x 255 240 3.6x / Net Debt / LTM Pro-forma EBITDA 4.1x 220 200 ~3x 168 / Including second tranche of directed share issue appro
Slide 21: Current trading in Q4
Current trading in Q4 / Companion animal health market shows resilience with growth / October shows similar trend in organic growth as in Q3 / Strengthened market positions / Continued higher levels of inventory ahead of annual ordering programme in MedTech Page 21
Slide 22: Q3 summary
Q3 summary / Withstanding period of exceptional uncertainty – accelerated organic growth vs Q2 / Solid performance in largest segments / Margin reflects consolidation of acquired companies, and high level of market activity / Focus on integration and selective execution of M&A pipeline / Completed s
Slide 23: Q&A
Q&A Page 23