Medios AG

Ladies and gentlemen, welcome to the conference call of Medios AT. At a customer's request, this conference will be recorded. As a reminder, all participants will be in the listen-only mode. After the presentation, there will be an opportunity to ask questions. If any participant has difficulties hearing the conference, please press zero, followed by the hash key for operator assistance. May I now hand you over to Claudia Nicolaus, Head of Investor and Public Relations and EFT Communications at Medios.

Welcome, everybody, to our earnings call for the first quarter of 2025. As always, all relevant documents can 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 Wiertner and our CFO Falk Neukirch. Matthias will start with an executive summary followed by Falk who will then provide details on the financials of the first quarter and the guidance for 2025. Finally Matthias will comment on a few items of MEDEOS forthcoming AGM on May 27 and after the presentation we will begin the Q&A session. I would now like to hand over to Matthias.

Thank you, Claudia. Ladies and gentlemen, welcome to our conference call for the first quarter of 2025. Let me start with the latest news, published just yesterday evening. As stated in the announcements, I have decided to step down as CEO and not stand for another term of office. As agreed with the supervisory board, I will take care of the handover to a successor for smooth transition and will remain in office until December 31st, 2025, as the latest. Also, Miong Mila, our COO, has decided not to extend her contract and will leave on June 30th this year. A very part of the great development of Meteos that I was part of over the past 10 years. METEOS has developed from the start up into the market leader in specialty pharma in Germany and to one of the leading players in Europe with an accepted 2 billion Euro in sales in 2025. I am equally proud that we have built a highly competent international management team of 40 people. That gives me great confidence and optimism for Meteor's future and further sustainable growth. Now that this development and establishment phase has been completed, it is a logical time to place management responsibility for the next development crisis in new hands. I have known many of you for many years and look back on a great time and very good cooperation and conversations. Without you, the growth of NETOS would not have been possible. You as our investors and analysts have also significantly contributed to the growth and success of NETOS. I would like to express my sincere thanks for this. Thanks to NETOS' first quarter development. On slide 3, starting with an overview of the highlights and achievements of 2025. Overall, we had a successful quarter with a significant improvement in profitability. Revenue grew by 6.2% to almost 485 million euros and was driven by the international business segment. EBITDA-3 increased disproportionately by more than 50% to 23.1 million euros. All three urban agro-operational segments contributed to this strong EBITDA-free increase, including an organic EBITDA-free growth of 4.6%. International business, reflecting the state-run acquisitions, contributed significantly to the good business performance. Consequently, we substantially improved our EBITDA-free margin from 3.3% for the first quarter of 2024 to 4.8% for the first quarter 25. Furthermore, earnings per share increased by almost 60% in the first quarter to 25 cents. The decrease in the operational cash flow compared to the first quarter of 24 is due to changes in net working capital as of the reporting date. On the basis of these results, we fully confirm our guidance for the year 25. but will provide more insights on the financials later. We have also made progress in implementing our strategy. With the acquisition of CETAN, we created the European Specialty Pharma platform. The integration steps are close to being fully implemented. We will now shift our focus more and more towards commercial and business development opportunities. utilizing the strong and leading platforms of both Mateos and SEBAN. At the same time, SEBAN is also finalizing several standalone strategic and inter-integration projects. These originate from acquisitions SEBAN made before joining Mateos in June 24. The teams of both, SEBAN and Mateos, have dedicated significant efforts to delivering these projects and the integration methods, all while continuing to manage day-to-day business operations effectively. Having already realized the first synergies in the first quarter, we look forward to fully unlocking the synergies between the two companies. This process is strongly supported by our European platform, giving us a leading position in the specialty pharma compounding in Europe. This network is an excellent basis for further international expansion, the realization of synergies and cross-selling opportunities. Furthermore, it will support the development of our activities in the field of advanced therapies, the future of individualized medicine. Now some further comments on the financials for the first quarter of 2025. Slide 4 shows the quarter-on-quarter development of our two KPIs, revenue and EBITDA-free. In Q1, 25 EBITDA-free and the respective margin grew significantly compared to last year. We reached an EBITDA-free margin of 4.8%. This was driven by positive momentum from all operating segments. and our strategic focus on higher-margin products. As a result, we have already achieved the margin that we are targeting for the full year 2025. This positive development is also reflected on slide 5, illustrating the revenue and disproportionate EBITDA3 growth. Whereas revenue increased by 6.2%, EBITDA3 increased strongly by 52.9%. with a corresponding margin of 4.8% compared to 3.3% first quarter last year. This is fully in line with our strategy to focus on higher margin products to achieve an overall margin improvement. This is all from my side for the moment. I now hand over to Falk to provide more details on the financials for the first quarter 25 and the guidance for 25.