Chemical Works Of Gedeon Richter Plc · BET:RICHTER
Chemical Works Of Gedeon Richter — Gedeon Richter Ltd S/Gdr — Q3 2025 Earnings Presentation
36 slides from Chemical Works Of Gedeon Richter's earnings presentation, Nov 6, 2025
Slide 1: Q1-Q3 2025 Earnings Report
Q1-Q3 2025 Earnings Report 6 November 2025
Slide 2: Q1-Q3 2025 highlights – temporarily slowing dynamics in Q3
Q1-Q3 2025 highlights – temporarily slowing dynamics in Q3 Q1-Q3 2025 CER revenue grew by 5.4% YoY guidance Pharma Revenues (CER*) close to EUR 2.3bn (to EUR 1.67bn) 2025 1 Q1-Q3 2025 CER Clean EBIT rose by 5.9% Clean EBIT (CER*) + 8-10% (to EUR 534mn) Q1 HUF 668.8bn HUF 214.4bn HUF 204.5bn 1 EBIT:
Slide 3: Financial and operational highlights
Financial and operational highlights Financial highlights • Pharma revenues declined by 1% YoY to HUF 211.2bn in Q3 2025, bringing Q1-Q3 2025 revenues to HUF 669bn (+7% YoY) • CER (ex-FX) revenue growth was 5.4% in Q1-Q3 2025, lagging the annual plan due to the weaker Q3; FX turned into a headwind i
Slide 4: Financial Highlights
Financial Highlights 4 4
Slide 5: Pharmaceutical revenues (CER) rose by 5.4% in Q1-Q3 2025
Pharmaceutical revenues (CER) rose by 5.4% in Q1-Q3 2025 Pharmaceutical Revenues, cumulative (HUF bn, EUR mn) Pharmaceutical Revenues by region (HUF bn) +6.7% +5.4% Western Europe 114.7 128.9 668.8 660.8 1,671 626.9 Central Europe 131.3 131.1 Eastern Europe 130.1 135.2 North America 184.1 200.8 Asia
Slide 6: WHC (and Vraylar) sustains double-digit growth, other segments behind plan
WHC (and Vraylar®) sustains double-digit growth, other segments behind plan WHC Revenues CNS ex-Vraylar® Revenues Key messages +12.5% +10.8% • WHC sales growth kept its strong momentum in -0.8% -3.2% Q3, growing double-digit, keeping the ytd 244.3 10.5 10.4 increase at 11% (CER). The leading product
Slide 7: Lower opex in Q3 reflects efficiency gains, temporarily lower R&D
Lower opex in Q3 reflects efficiency gains, temporarily lower R&D Operating costs as a % of Pharma revenues (%) Operating expenses (pharma) (HUFbn) 40 -5.2% 36 35 33 90.5 31 30 31 31 83.1 30 30 30 30 81.9 30 28 74.7 16.3 14.1 14.3 70.8 25 12.9 20 20 21 20 13.5 19 19 19 18 18 20 18 17 29.0 23.8 25.1
Slide 8: Weaker Q3 implies CER Clean EBIT growth of 6% in Q1-Q3
Weaker Q3 implies CER Clean EBIT growth of 6% in Q1-Q3 Pharmaceutical Clean EBIT*, cumulative (HUF bn, EUR mn) Key messages +6.8% +5.9% • Clean EBIT (pharma) declined by 7% YoY in Q3 2025 to HUF 213.1 66bn, bringing the Q1-Q3 2025 Clean EBIT to HUF 213bn, up 199.6 211.3 534 6.8% YoY 26.4 33.2 38.3 •
Slide 9: Below-the-line: FX losses and a higher effective tax rate
Below-the-line: FX losses and a higher effective tax rate Net Profit in Q1-Q3 2025, below-Clean EBIT items (HUF bn) 214.4 -9.9 204.5 Includes taxes calculated in line with Global Minimum Tax and some 2.2 deferred tax expenses -24.7 10.8 4.3 -33.6 163.3 -0.2 Including: - HUF 9.9bn FX gain in Q1, - HU
Slide 10: Outstanding cash generation in 2025 to date
Outstanding cash generation in 2025 to date Free Cash Flow in Q1-Q3 2025 (HUF bn) Key messages Application of Cash Flow • Free Cash Flow was HUF 200bn in Q1-Q3 229.8 215.0 2025, 22% higher YoY, driven by higher 14.8 9.8 24.8 200.0 operating profit, lower capex and a much 14.6 1.0 smaller build in NW
Slide 11: Research and Development
Research and Development R&D 11 11
Slide 12: R&D pipeline – changes during Q3 2025
R&D pipeline – changes during Q3 2025 Market Preclinical phase Clinical phase Regulatory & Launch Phase 1 Phase 2 Phase 3 Own Technology Development Clinical phase Neuropsychiatry Biotechnology Women’s Healthcare Own RSL* General Medicines new discontinued License 12 * Ready-to-Sell Licensed pipelin
Slide 13: Neuropsychiatry
Neuropsychiatry CNS 13 13
Slide 14: CNS revenues grew by 10% YTD
CNS CNS revenues grew by 10% YTD CNS | HUF mn Q3 2024 Q3 2025 Ch. % YoY Q1-Q3 2024 Q1-Q3 2025 Ch. % YoY Revenue (HUFbn) Revenues 65 026 67 072 3 174 444 191 466 10 Cost of Sales -320 -363 13 -1 102 -1 151 4 +9.8% +3.1% Gross Profit 64 706 66 709 3 173 342 190 315 10 Gross Margin % 99.5 99.5 99.4 99.
Slide 15: Vraylar: continued strong demand growth
CNS Vraylar®: continued strong demand growth Vraylar® Key messages • Royalty income from Vraylar® in Q3 2025 +3.9% +10.4% exceeded HUF 64bn, up nearly 4% YoY 61.7 65.1 60.7 64.1 163.9 181.0 • In Q1-Q3 comparison, royalty revenues 56.2 136.3 showed double-digit increase, exceeding HUF 180bn in 2025 •
Slide 16: Women's Healthcare
Women’s Healthcare WHC 16 16
Slide 17: Sustained strong momentum with double-digit topline growth
WHC Sustained strong momentum with double-digit topline growth WHC | HUF mn Q3 2024 Q3 2025 Ch. % YoY Q1-Q3 2024 Q1-Q3 2025 Ch. % YoY Revenue (HUFbn) Revenues 67 607 75 548 12 217 126 244 309 13 Cost of Sales -24 127 -28 078 16 -69 647 -80 972 16 +12.5% Gross Profit 43 480 47 470 9 147 479 163 337 1
Slide 18: Focus TAs delivering on target; Strong EM and Menopause
WHC Focus TAs delivering on target; Strong EM and Menopause Total WHC revenues by therapeutic areas (quarterly, HUF bn)* Key messages +11.7% The positive trend of fast-growth focus TAs, Uterine Fibroids 89.9 (UF)/Endometriosis (EM) and Menopause are in line with Other WHC strategic plans. Both EM an
Slide 19: Highlighted brands | Ryeqo very strong; Drovelis supported by partner businesses
WHC Highlighted brands | Ryeqo® very strong; Drovelis® supported by partner businesses Ryeqo® Drovelis® +99.0% +69.4% 8.7 7.8 7.4 6.5 6.6 6.5 6.2 5.5 4.6 4.4 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 +97.3% +67.0% 22.6 20.7 11.5 12.4 8.2 4.1 Q1-Q3 2023 Q1-Q3 202
Slide 20: Lenzetto in territorial expansion; Bemfola needs more time; EVRA on track
WHC | Lenzetto® in territorial expansion; Bemfola® needs Highlighted brands more time; EVRA® on track EVRA® Bemfola® Lenzetto® +27.8% -12.6% +69.8% 10.1 5.3 5.6 9.6 4.9 7.9 8.2 4.1 4.3 7.7 4.4 3.6 3.7 3.3 3.5 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4
Slide 21: Biotechnology
Biotechnology BIO 21 21
Slide 22: Slowing revenues in Q3; preparing for new product launches
BIO Slowing revenues in Q3; preparing for new product launches BIO | HUF mn Q3 2024 Q3 2025 Ch. % YoY Q1-Q3 2024 Q1-Q3 2025 Ch. % YoY Revenues 14 203 13 751 -3 40 724 43 194 6 Revenue (HUFbn) Cost of Sales -7 642 -10 389 36 -24 441 -29 413 20 +6.1% Gross Profit 6 561 3 362 -49 16 283 13 781 -15 -3.2
Slide 23: Teriparatide keeps on growing; CDMO revenues lower than expected
BIO Teriparatide keeps on growing; CDMO revenues lower than expected Teriparatide Key messages +9.5% • Teriparatide biosimilar (incl. +5.1% Terrosa®) revenues are up by nearly 8.5 22.3 10% YoY for the cumulative period of Q1- 7.7 20.4 7.3 7.1 16.6 Q3. Slightly lower Q3 2025 dynamics were 6.1 due to
Slide 24: General Medicines
General Medicines GM 24 24
Slide 25: Multiple headwinds hit GenMed revenues in Q3
GM Multiple headwinds hit GenMed revenues in Q3 GM | HUF mn Q3 2024 Q3 2025 Ch. % YoY Q1-Q3 2024 Q1-Q3 2025 Ch. % YoY Revenue (HUFbn) Revenues 64 773 53 561 -17 186 193 184 391 -1 Cost of Sales -32 772 -28 447 -13 -87 289 -87 768 1 -1.0% Gross Profit 32 001 25 114 -22 98 904 96 623 -2 -17.3% Gross M
Slide 26: Weakness in two largest TAs drove sales lower in Q3
GM Weakness in two largest TAs drove sales lower in Q3 Total GenMed revenues by therapeutic areas (quarterly, HUF bn) Key messages -17.3% • Blood&metabolic category was helped by the strong positive 64.8 64.5 65.5 65.3 impact of NOAC launches in PL and HU, partly offset by the Blood&metabolic 4.4 5.
Slide 27: Appendix
Appendix 27 27
Slide 28: Further FX losses added to financial expenses in Q3
Further FX losses added to financial expenses in Q3 Q3 2024 Q3 2025 Diff Q3 Q1-Q3 2024 Q1-Q3 2025 Diff Q1-Q3 2025 -20.8 -10.6 10.1 Unrealised exchange (loss)/gain -0.6 -4.0 -3.5 1.2 -8.3 -9.5 Realised exchange (loss)/gain 2.4 -20.6 -23.0 Result of realised & unrealised 0.1 2.0 1.9 -0.3 4.3 4.6 forwa
Slide 29: Business units' P&L in Q1-Q3 2025
Business units’ P&L in Q1-Q3 2025 Pharma Pharma Q1-Q3 2025 WHC CNS BIO GM Other Eliminations Group total other total Revenues 244.3 191.5 43.2 184.4 5.4 668.8 19.2 -7.8 680.2 Cost of Sales -81.0 -1.2 -29.4 -87.8 -6.4 -205.7 -15.3 8.5 -212.5 Gross Profit 163.3 190.3 13.8 96.6 -0.9 463.1 3.9 0.6 467.7
Slide 30: Strategic positioning and vision of the business units
Strategic positioning and vision of the business units Pharma | Pharmaceuticals segment Name of the Business Units Brief description Key strategic goal Therapeutic areas Leveraging our world class early phase R&D capability Maximize the potential of cariprazine, while developing in the central nervo
Slide 31: Consolidated Income Statement
Consolidated Income Statement 2024 Q1-Q3 2025 Q1-Q3 2024 Change Consolidated P&L HUFm HUFm HUFm % 857 545 Revenues 680 201 636 423 6.9% 236 591 of which royalty 190 427 168 927 12.7% (266 807) Cost of Sales (212 514) (196 783) 8.0% 590 738 Gross Profit 467 687 439 640 6.4% (163 808) Sales & marketin
Slide 32: Consolidated Balance Sheet - ASSETS
Consolidated Balance Sheet - ASSETS 30 Sep 2025 31 Dec 2024 Change Consolidated Balance Sheet HUFm HUFm % ASSETS 1 641 567 1 602 991 2.4% Non-current assets 908 647 961 934 -5.5% Property, plant and equipment 377 391 378 860 -0.4% Goodwill 35 972 38 777 -7.2% Other intangible assets 295 404 306 189
Slide 33: Consolidated Balance Sheet - EQUITY AND LIABILITIES
Consolidated Balance Sheet - EQUITY AND LIABILITIES 30 Sep 2025 31 Dec 2024 Change Consolidated Balance Sheet HUFm HUFm % EQUITY AND LIABILITIES 1 641 567 1 602 991 2.4% Capital and reserves 1 335 345 1 303 862 2.4% Share capital 18 638 18 638 0.0% Treasury shares (33 903) (33 852) 0.2% Share premiu
Slide 34: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement 31 Dec 2024 30 Sep 2025 30 Sep 2024 Change Consolidated cash flow HUFm HUFm HUFm % Operating activities 281 077 Profit before income tax 197 158 202 521 -2.6% 49 521 Depreciation and amortisation 44 276 36 318 21.9% 4 180 Non cash items 6 800 3 393 100.4% (5 692) Net
Slide 35: Contacts and Financial calendar
Contacts Financial calendar Company name: Gedeon Richter Plc. | 6 November 2025 – Q1-Q3 2025 results Sector: Pharmaceutical Company address: 1103 Budapest, Gyömrői street 19-21., Hungary Telephone: +36 1 431 5764 Investor relations manager Róbert Réthy, CFA +36 20 342 2555 investor.relations@richter
Slide 36: Disclaimer
Disclaimer This presentation may contain forward-looking statements, that may include, but are not limited to, those regarding capital, investment, cash flows, demand, earnings, efficiency, production, profits. These forward-looking statements are subject to risks, uncertainties, and other factors,
Gedeon Richter Ltd S/Gdr — Q3 2025 Earnings Presentation on 6ix