Medios AG

Welcome everybody to our conference call on our results for the third quarter and first nine months of this year. As always, all relevant documents can also be downloaded from our investor relations website. Additionally, this presentation can be followed in parallel via the internet link provided to you in the invitation. Today, with me is our CEO, Matthias Gärtner, and for the first time, our new CFO, Falk Neuterich. Matthias will start with an executive summary, followed by Falk, who will then explain the financials, and finally Matthias will comment on the outlook for the full year. Both gentlemen will be then available to answer your questions. I would now like hand over to Matthias.

Okay, thank you, Claudia, and also a warm welcome from my side.

Thank you for attending this call and for your interest in Meteos. Once again, I'm proud to present excellent results to you today. Meteos' best nine months ever. Not only in our M&A strategy, paying off, we also have delivered strong organic growth. And even more important, our margins are continuing to improve. This positive development goes along with strong operating and free cash flows. I will start with a short summary of the achievements and highlights for the third quarter of this year. Today and in the future, we will outline only the highlights for the respective quarter and no longer the events of the entire reporting period. That should make this call more efficient. As usual, I will be referring to the slides of the presentation. So let's go directly to slide three. How can the third quarter be best summarized? Again, record sales and EBTA numbers. We continued the growth and success story. We have set ambitious targets and confirmed our guidance. I would like to point out one thing in particular. From a corporate perspective, we have left the corona pandemic behind us and do not expect any material effects on our business development in the future. We are now in a position to fully cope with the situation and we are no longer burdened by negative influences. Our growth continues, as the figures impressively show. We delivered strong inorganic and organic growth in the first nine months of the current fiscal year. What are the reasons for the excellent nine-month results with profitable and sustainable growth? Strong inorganic growth, to a huge extent driven by the ongoing and successful integration of Ghana Pharma. Strong organic growth, also adjusted for M&A effects We grew at a rate of around 22% in the first nine months of 2021, as well as in the third quarter of 2021. Focus on higher margin products. This was again impressively illustrated by our compounding business. Falk will give you the detailed figures later on. Addition of further specialized pharmacies to our network of now 550 partner pharmacies. New partners were also gained through our innovative platform, Meteos Connect, as we rolled out the platform in an additional fourth federal state in Germany and included an additional indication as well. Ongoing improved working capital management and free cash flow. The good results as well as the cash inflow from the consolidation of Ghana Pharma led to an excellent free cash flow of over 60 million euros. Ongoing expansion of our market position in indications like hemophilia. Successful further integration of our acquisition with cross-selling already picking up. And finally, no more corona effects, as just mentioned. In a nutshell, we are showing dynamic and profitable growth and are excellently positioned for the future. The new authorized capital and our strong cash position ensure the financing of further potential acquisitions and organic growth. Our new labs in Berlin currently being set up, new partner pharmacies, cross-selling opportunities, and the digitalization of the healthcare system of our ongoing attractive growth potentials. Slide four illustrates the impressive continuous growth of revenue and EBITDA spree, reflecting the de facto end of the corona impact on our business. Also compared to the first nine months of last year and the second quarter of this year, most of the KPIs have improved. The same picture on slide five. Again, substantial growth year on year. Revenue more than doubled and EBT pre even more than tripled. Both slides show the very impressive development since the beginning of 2020. Strong sales growth, significant expansion of our market leadership with the integration of Ghana Pharma acquisition and an increase in profitability. Let's switch to slide six. providing a revenue and EBDA pre-breakdown per segment for the first nine months of this year, which is more or less unchanged compared to the split for the first half of 21. Pharmaceutical supply generated 95% of revenues and 80% of EBDA pre. Our target remains to grow the share of the higher margin segment patient-specific therapies in line with the strategy to focus on higher margin but usually lower revenue indications in this segment. I will now provide a short update on our ESG strategy, illustrated on slide 7. What are the next steps with regard to ESG? We meanwhile established a sustainable committee and I'm happy to chair this committee. The task of the sustainability committee is in particular to define the key areas of our ESG strategy and to monitor the implementation of the ESG program. Within the next weeks, we will publish our ESG strategy, including concrete measures and targets. This is an important milestone for us in 2021. Furthermore, we will gradually align our ESG reporting with the internationally applied reporting standard, GRI, which stands for Global Reporting Standard. The first report in accordance with GRI is planned for 2023. I cannot repeat this often enough. Sustainability has and will be an integrated part in our corporate strategy. ESG is of top priority for us. This is all from my side for the moment. I now hand over to Falk to explain the financial.