Slide 1: H1-2025 results Presentation
H1-2025 results Presentation July 30, 2025
Slide 2: Forward looking statements
Forward looking statements Certain information contained in this presentation is forward looking and not historical data. These forward-looking statements are based on opinions, projections and current assumptions including, but not limited to, assumptions concerning the Group’s current and future s
Slide 3: Introduction
Introduction David Seignolle Chief Executive Officer P. 3
Slide 4: H1 2025 Key Figures
H1 2025 Key Figures Net Sales Core EBITDA CAPEX €412.1m €39.5m €37.8m (8.2)% Core EBITDA margin Sanofi €176.1m 9.6% -15.3% 60% dedicated to EBITDA growth Other Clients €236.0m €5.0m -2.0% €39.3m exceptional items P. 4
Slide 5: H1 2025 key takeaways
H1 2025 key takeaways Thorough execution of the FOCUS-27 plan Sales to Sanofi APIs sales affected by unfavorable comparison base and lower sales from Sevelamer Strong performance of the CDMO activity driven by large-scale contracts in anti-infective and skin care Resilience Sales to Other Clients So
Slide 6: Operational and Financial performance
H1 2025 Operational and Financial performance Olivier Falut Chief Financial Officer P. 6
Slide 7: Consolidated Net Sales
H1 2025 Consolidated Net Sales 448.7 M€ 412.1 M€ (8.2%) CDMO Other 72.3 Clients CDMO Other -24.4% +4.3% +18.4% -16.7% 60.2 Clients CDMO Sanofi 44.1 52.2 CDMO Sanofi • -29% volume decrease in • ~8% of Net Sales from • Strong demand for Poly- • Downsizing and API Sevelamer (Haverhill) Cross Selling L-
Slide 8: Change in Core EBITDA margin
H1 2025 Results Change in Core EBITDA margin Rounded figures +2.4 pts 10.6% + 2.1 pts 9.6% - 1.9 pts + 0.2 pts + 2.2 pts - 1.2 pts - 2.2 pts - 0.6 pts -1.9 pts 9.2% H1 2024 Core Buserelin Stock Volume Impact Price & Mix Discontinued Industrial Energy & Raw OPEX Brindisi Site Haverhil Site H1 2025 Co
Slide 9: From Net Sales to Core EBITDA
From Net Sales to Core EBITDA In € millions H1-2025 H1-2024 Net sales 412.1 448.7 Gross profit 76.6 98.0 Gross profit margin 18.6% 21.8% Core EBITDA 39.5 47.6 39.3 million in exceptional items in H1 2025 • €20.6 million of idle costs Core EBITDA margin 9.6% 10.6% • €4.1 million of internal and exter
Slide 10: From EBITDA to Net Income and EPS
From EBITDA to Net Income and EPS In € millions H1-2025 H1-2024 EBITDA 5.0 (1.4) Depreciation and Amortization 32.7 32.0 Operating Income (27.8) (33.4) Decrease in Financial expenses following the financing of Financial Result (2.3) (8.1) the plan Income before Tax (30.1) (41.5) Income Tax expenses
Slide 11: CAPEX Focus on strategic priorities
H1 2025 CAPEX Focus on strategic priorities CAPEX Evolution Breakdown of H1 2025 CAPEX FY 2024 H1 2025 €108.0m Growth and Performance 60% €80m to €90m expected for FY 2025 46.7 22% 18% Maintenance 61.3 37.8 Compliance 2022 2023 H1 H2 P. 11
Slide 12: Net Cash evolution
H1 2025 Net Cash evolution € millions – rounded figures Of which €(7.2)m inventories €24.7mreceivables €2.7m payables €(10.8)m Other Current Assets & Liabilities 171.0 Free Cash Flow Before Financing: €(20) million P. 12
Slide 13: 2025 outlook and conclusion
2025 outlook and conclusion David Seignolle Chief Executive Officer P. 13
Slide 14: 2025 outlook adjusted
2025 outlook adjusted H2 underlying assumptions Stronger HP API sales Net Sales now expected to Ongoing inventory build-up of discontinued APIs decrease low single digit Improved contract manufacturing (CMO) activity, on a comparable basis* including continued momentum in Pristinamycin and Poly-L-La
Slide 15: Appendix
eCULOAPI Appendix
Slide 16: Net sales breakdown
H1 2025 Net sales breakdown By Activity CDMO Other Clients 14% CDMO API Solutions 27% Other Clients 43% CDMO Sanofi 13% API By Customer Solutions 73% Sanofi 43% Others Clients API Solutions 57% Sanofi 30% P. 16
Slide 17: CDMO projects portfolio
H1 2025 CDMO projects portfolio By platform H1 2025 58 projects Highly potent APIs 4% H1 2024 50 projects 3% Phase 1 17 Complex Chemical Molecules 64% 22% Large Molecules By phase and earlier 60% 25% 11% 9 Phase 2 Biochemistry Molecules H1 2025 14 12% 12 Phase 3 6 By customer H1 2024 Early-stage 40%
Slide 18: Working capital
Working capital In € millions Inventory - Months on Hand1 Receivables – DSO2 8.5 7.8 6.9 43 43 39 H1 2024 FY 2024 H1 2025 H1 2024 FY 2024 H1 2025 1. MOH: Months on Hands-Inventories in value on Net Sales 2. DSO: Receivables in Day of Sales – excluding factoring P. 18
Slide 19: Glossary
Glossary Net Sales at Constant Exchange Rate (CER) H1 2025 sales are calculated at H1 2024 Exchange rates On a comparable basis At constant perimeter and constant exchange rates. Figures at constant perimeter exclude the impact of acquisitions and disposals that occurred during the current year or d
Slide 20: Contacts
Contacts Sophie Palliez-Capian Léa Massonneau + 33 6 87 89 33 51 + 33 7 60 32 29 50 sophie.palliez@euroapi.com lea.massonneau@euroapi.com ir@euroapi.com ir@euroapi.com P. 20
Slide 21: euroapi.com
euroapi.com Photo credit Euroapi - Getty Images – J. Chiscano