Sandoz Group Ag S/Adr (SDZNY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Sandos call today. I will now pass on to Craig Marks, Head of Investor Relations, for his opening remarks. Thank you, and welcome to the Sandos H1 2025 results call. Earlier today, we published a results announcement and an accompanying presentation on our website, which will follow today. You can find these documents at sandos.com.invest. Joining me today are Richard Senor, Chief Executive Officer, and Remco Steenbergen, Chief Financial Officer. Please turn to slide two. Our results announcements, presentation, and discussion include forward-looking statements. Please see our disclaimer here. Please turn to slide three. Richard will begin today's presentation with a summary of the highlights in the first half of the year. followed by an update on the business. Renko will cover the financial performance, as well as our full year guidance. Following a wrap-up of the presentation, we'll be happy to take your questions. With that, I'll now hand over to Richard. Please turn to slide four. Thank you, Greg, and hello, everybody. It's a pleasure to welcome you all to today's call, and I'm looking forward to taking you through the strong progress we're making as well as the significant opportunities that lie ahead for Sando. Please turn to slide five. I'm pleased to provide an update on our strong performance in the first half and the continued execution of our long-term strategy. We delivered 4% sales growth, which on an underlying basis amounted to 6%. The performance included accelerated sales growth in the second quarter, a period when 30% of our net sales came from buyer similars. Our core EBITDA margin in H1 expanded by 2.5 percentage points, reaching 20%, reflecting an improving sales mix and operating leverage. O...