Laboratorios Farmaceuticos Rovi, S.a. · BME:ROVI
Laboratorios Farmaceuticos Rovi — FY2025 Earnings Presentation
23 slides from Laboratorios Farmaceuticos Rovi's earnings presentation, Feb 25, 2026
Slide 1: Full year 2025 Financial Results
Full year 2025 FINANCIAL RESULTS 25 FEBRUARY 2026
Slide 2: Disclaimer
DISCLAIMER This Presentation has been prepared by Laboratorios Farmacéuticos ROVI, S.A. (the “Company”) and comprises the slides for a presentation concerning the Company and its subsidiaries (the “Group”). For the purposes of this disclaimer, “Presentation” means this document, its contents or any
Slide 3: 2025 financial results - highlights
2025 financial results - highlights Total revenue decreased 1% to €756.1 Mn in 2025. Operating revenue in 2025 was €743.5 Mn, a 3% decrease on 2024, mainly due to the performance of CDMO. However, sales of the specialty pharmaceutical business increased 11% to €473.9 Mn in 2025. Okedi® (Risperidone
Slide 4: 2025 was a pivotal year in laying the foundations for our future growth
2025 was a pivotal year in laying the foundations for our future growth November ROVI announces a collaboration with Roche for the manufacture of a new medicine in development • For 2030, ROVI estimates that the agreement will contribute with a minimum increase of between 20% and 25% in CDMO busines
Slide 5: Operating Results
OPERATING RESULTS Juan López-Belmonte Chairman and Chief Executive Officer
Slide 6: Full year sales drivers: Okedi, LMWH, Neparvis, and contrast agents
Full year sales drivers: Okedi®, LMWH, Neparvis®, and the contrast agents and other hospital products division 2025 sales variation: -3% Specialty pharmaceutical business: +11% 3.9 27.9 5.4 1.4 5.8 12.5 0.1 (0.4) (8.2) (2.0) (66.7) €Mn 763.7 743.5 2024 Op. Enoxaparin Bemiparin Okedi® Neparvis® Volut
Slide 7: ROVI aspires to become a benchmark player in the LMWH field worldwide
ROVI aspires to become a benchmark player in the LMWH field worldwide Prescription-based sales Heparin franchise sales LMWH sales +11% +7% +9% 157.7 266.8 145.2 414.1 248.7 +4% 373.4 96.4 100.3 €Mn €Mn €Mn Enoxaparin Bemiparin biosimilar 2024 2025 2024 2025 2024 2025 • Sales of prescription-based ph
Slide 8: Growth evolution of enoxaparin biosimilar
Growth evolution of enoxaparin biosimilar Well-established network to minimize time-to-market Expansion in other Directly marketed in markets through out Approved in 26 countries Germany, UK, Italy, licensing agreements in Europe and 33 in the France, Austria, Portugal with international rest of the
Slide 9: Okedi, Neparvis and contrast agents key drivers of specialty pharma
Okedi®, Neparvis® and contrast agents and other hospital products, key drivers of the strong performance of the specialty pharmaceutical business +97% +10% +11% 80 56.7 56.7 58.8 60 51.4 53.0 -38% €Mn 40 28.8 -4% 21.5 20 13.4 9.4 9.0 0 (1) (2) Okedi® Neparvis® Orvatez® Volutsa® Contrast agents and o
Slide 10: Value added CDMO services
Value added CDMO services Latest CDMO contract wins with key clients(1) CDMO evolution (Sales) • Moderna: 10-year global agreement covering end-to-end manufacturing of COVID-19 and RSV(2) vaccines, including API COVID-19 production in Granada and fill-and-finish in Madrid and SSRR. Also includes the
Slide 11: ISM Platform opens up new avenues of growth for ROVI
ISM® Platform opens up new avenues of growth for ROVI Overview Key Company Highlights of ISM® Platform • Internally-developed and patented innovative drug-release technology, ISM®(1), which allows for the sustained release of compounds administered by Pop PK(3) model & Expected high injection simula
Slide 12: Outlook 2026
Outlook 2026 2026 operating revenue growth rate Increase by between a high single-digit and low double-digit percentage vs 2025 2026 key performance drivers and strategic levers: Specialty Pharma CDMO Launch and commercialization of Manufacturing agreement with Risperidone ISM® Moderna LMWH franchis
Slide 13: Financial Results
FINANCIAL RESULTS Javier López-Belmonte Deputy Chairman and Chief Financial Officer
Slide 14: Revenue level affected by the performance of the CDMO business
Revenue level affected by the performance of the CDMO business Operating revenue LMWH sales -3% 300 241.6 +7% 258.1 40.7 5.7 250 763.7 0.1 743.5 200 (66.7) 145.2 157.7 150 €Mn 100 €Mn 50 96.4 100.3 2024 Prescription Contrast CDMO Other 2025 0 operating products agents & operating operating 2024 2025
Slide 15: Gross margin uplift from R&D aid, Okedi growth and lower LMWH material prices
Gross margin uplift from R&D aid, Okedi® growth and lower LMWH material prices Gross profit and Gross margin Gross margin impacts 750 +3.9 pp Gross profit increased 3% to €494.7 Mn in 2025. Gross margin increased from 62.7% in 2024 to 66.5% in 2025, an increase of 3.9 pp. This increase was impacted
Slide 16: Operational efficiency with continued R&D commitment
Operational efficiency with continued R&D commitment SG&A expenses R&D expenses 32.1% 32.4% 40% 250 30% €Mn -2% 37.8 €Mn 2025 20% 245.2 240.7 10% 0 0% +47% 2024 25.8 2024 2025 SG&A SG&A/Operating revenue 0 10 20 30 40 SG&A expenses decreased by 2% to €240.7 Mn in 2025 compared to R&D expenses increa
Slide 17: EBITDA, EBIT & Net Profit analysis
EBITDA, EBIT & Net Profit analysis EBITDA EBIT +4% +4% 29.1% 23.5% 25.0% 30% 250 27.2% 200 20% €Mn €Mn 0% 207.4 216.2 179.4 185.8 10% 0 0 0% 2024 2025 2024 2025 EBITDA EBITDA Margin EBIT Margen EBIT Net Profit 16.1 4.5 0.2 216.2 200 207.4 (12.0) +3% €Mn €Mn 100 136.9 140.4 0 0 EBITDA Gross SG&A R&D
Slide 18: Pre-R&D analysis
Pre-R&D analysis(1) +9% +9% 300 +8% 254.0 250 233.2 223.6 205.2 €Mn 200 169.3 156.7 150 100 50 0 EBITDA pre-R&D EBIT pre-R&D Net profit pre-R&D 2024 2025 (1) EBITDA, EBIT and Net profit "pre-R&D" calculated excluding R&D expenses in 2025 and 2024. To obtain further information on the alternative per
Slide 19: Capital expenditure and Cash Flow
Capital expenditure and Cash Flow CAPEX evolution Cash Flow evolution 187.1 75 +9% 67.8 (67.8) 62.2 (3.5) (47.8) 60 €Mn (4.8) (21.9) €Mn 45 (85.1) 30 Net debt (-)/ Net cash Capex Invts. in Dividends Other Net debt (-)/ 15 cash (+) FY from joint paid cash (+) FY 2024(1) operating ventures 2025(1) act
Slide 20: Debt analysis
Debt analysis Debt breakdown by source (%) Debt maturities 0% 40.0 Total debt 28.6 28.8 €121.8 Mn 13% 30.0 27.1 9% 21.1 Financial liabilities for leases 20.0 16.2 €Mn Debt with public administration Bank borrowings Financial derivatives 78% 10.0 0.0 2026 2027 2028 2029 2030 + • Net debt of €21.9 Mn
Slide 21: News flow 2026
News flow 2026 Additional new products to be launched Specialty pharma Granting by the competent local authorities of the marketing authorisation of an enoxaparin biosimilar outside Europe Production progress of key manufacturing agreements CDMO ROIS Phoenix Marketing of Okedi® in Europe and rest of
Slide 22: Alternative performance measures
Alternative performance measures In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRSs”) taken from our financial statements, this document includes certain alternative performance measures (“APMs”) as defined in the ESMA (European S
Slide 23: For further information, please contact
For further information, please contact: Juan López-Belmonte Chairman and Chief Executive Officer www.rovi.es Javier López-Belmonte Deputy Chairman and Chief Financial Officer www.rovi.es Marta Campos Head of Finance mcampos@rovi.es www.rovi.es Beatriz de Zavala Investor Relations Analyst bdezavala@
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