Vimian Group AB (publ)

Good morning and welcome to Vimean's second quarter earnings call 2026. I'm Ali Taybach, Group CEO, and together with me I have our CFO Khalil Ansattabai Budhi presenting our results for the second quarter. We at Vimean continue building upon a good start of the year and report a second quarter with strong revenue and earnings growth as well as margin expansion. Our double-digit growth in the quarter is well ahead of the global animal health market coupled with strong adjusted EBITDA growth. We have also closed four acquisitions here today and continue to advance our M&A pipeline with active discussions across all four segments. We've also achieved recognition for our ESG achievements with a new AAA rating with MSCI. Turning to the numbers a bit more in detail, we report 17% revenue growth and reach 121.6 million euros in revenue in the second quarter. Organic growth was 12% with double-digit growth in specialty pharma, medtech and veterinary services, our three largest segments. 6% contribution from acquisitions and we had a 1% negative impact from currency movements. Adjusted EBITDA grew 17% to 29.7 million with strong earnings Growth ACROSS ALL FOUR SEGMENTS. MARGIN IMPROVED TO 24.5% DRIVEN BY THE CONSOLIDATION OF ACQUIRED BUSINESSES IN MEDTECH DENTAL SEGMENT. MOVING INTO SPECIALTY PHARMA, SPECIALTY PHARMA DELIVERS ANOTHER STRONG QUARTER WITH ORGANIC GROWTH OF 14%. ALL FOUR THERAPEUTIC AREAS DELIVER SOLID GROWTH AND THE STRONGEST CONTRIBUTION IN THIS QUARTER COMES FROM SPECIALTY PHARMACEUTICALS AND SPECIALIZED NUTRITIONS. In Specialized Nutrition, we completed another successful sales campaign together with a US retailer. A similar campaign took place in the third quarter of 2025. These campaigns make growth vary between quarters, but the underlying business momentum is continued good. During the quarter, we also launched 25 new products and opened our new R&D hub in France, focused on developmental biological pharmaceuticals. Adjusted the beta group 13% to 15.4 million euros, and we maintain a strong margin at 30.1%. Before we move on to the other segments, in our last quarter presentation, we gave you a short business snapshot about our Medtech dental platform and veterinary services upcoming market expansion. In this quarter, we will continue our series of business snapshots by having Kaliwan giving some more insights into our innovation work within specialty pharma.

Thank you, Olli. And let me spend a few minutes on innovation as I've had the pleasure for the last couple of months to be close to the specialty pharma team and segment working as the interim responsible for the specialty pharma segment. So innovation is really at the heart of specialty pharma's growth strategy. Innovation is one of the four pillars of our strategy. We focus on identifying unmet clinical needs and bringing differentiated products to market through internal R&D, scientific collaborations, and selective partnerships. This approach is delivering consistent output. Over the last 12 months, we've launched 75 new products and have more than 60 additional products in the pipeline. These products span multiple therapeutic areas and technologies, creating a balanced and sustainable innovation engine. As you can see from the quarterly launch cadence, innovation remains a continuous process supporting long-term organic growth and reinforcing our leadership positions in attractive specialty markets. Let me now make our innovation strategy a little bit more tangible by looking at two of our therapeutic areas, allergy and specialty pharmaceuticals. In allergy, Our ambition is to further strengthen our position as the global leader in veterinary allergology. PAX2 is a great example of that and a further innovation of PAX, the Pet Allergy Explorer that we launched three years ago. By incorporating an additional 25 novel allergens identified by NexMune, we're further enhancing the clinical value of our diagnostics platform with commercial launch targeted around one of the world's largest dermatology congresses, ESVD-ECVD, in the autumn of 2026. In specialty pharmaceuticals, our ambition is to build differentiated compounded drugs portfolio through internal innovation, combined with partnerships with biotech companies and leading universities. One example of how we're delivering on this ambition is through our newly established division Nexium Bio. NextBeanBio significantly strengthens our biological capabilities through a dedicated R&D team, a development facility and an established biologics pipeline, creating a platform for future prescription innovation across therapeutic areas. Our innovation strategy extends beyond prescription diagnostics and prescription drugs and into our OTC portfolio, where we continue to develop differentiated products addressing clear unmet needs. In dermatology, our ambition is to strengthen our leading position in skin and ear care through continued innovation, while leveraging that expertise to expand into adjacent therapeutic areas. A good example is Irilac, our first in-eye ophthalmology OTC product. It expands our presence into eye care with a preservative-free formulation designed to restore tear film stability and improve patient comfort. In specialized nutrition, our ambition is to continue building a differentiated portfolio of nutritional solutions based on scientific evidence and targeted innovation. A good example is UNA10, a microbiota-focused supplement supporting gut health. Its differentiated formulation enables targeted release and reflects our focus on translating science into products that address real clinical needs. Across our therapeutic areas, our approach is consistent. Focused R&D investments, a deep understanding of unmet clinical needs, and a steady pipeline of differentiated innovations. Together, these capabilities provide a strong foundation for sustainable organic growth in specialty farming.

Thank you very much, Colin Wong. Moving on to Medtech. Medtech returned to double-digit growth of 11% with double-digit growth both in the dental and orthopedic businesses. As expected, our U.S. orthopedic business returned to growth on the back of our consistent efforts to strengthen commercial performance and operation despite unchanged market conditions. Our focus on education to unlock long-term market growth in both orthopedics and dental remains, and we educated over 1,300 veterinarians in the quarter. Adjusted EBITDA grew 27% to 11.2 million euros and adjusted EBITDA margin improved to 25.8%. mainly driven by the consolidation of acquired businesses in the veterinary dental part of the segment. Moving on to veterinary services, veterinary service continues its momentum and delivers a strong organic growth of 10% with continued momentum in new member growth and strategic partnerships. At the end of the quarter, we reached 11,900 members across four continents. Adjusted EBITDA grew 18% and the adjusted EBITDA margin reached 28.2%. As expected, somewhat lower than previous year due to mixed effects from acquisitions and our communicated growth investments in new markets and services. Looking into diagnostics, diagnostics delivered 7% organic growth in the quarter, adjusted the beta group 32% and adjusted the beta margin of 9% was driven by product mix with higher level of extraction sales. We communicated earlier this year that we entered 2026 with a stronger M&A pipeline and we see continued improvement in our M&A activities and momentum. We have year-to-date closed four acquisition and continue to have a very active Activity and pipeline going forward as well across all four segments. The latest acquisition is the crematorial business Verona PEP within our diagnostic business in Italy. From a sustainability perspective, we continue to deliver our sustainability agenda. In spring, we received further recognition through the rating upgrade from AA to AAA within MSCI. We are now among top 19 of MSCI-rated peers globally and a leader among 153 healthcare equipment and supplies companies. This concludes the run-through of the quarter, and I will hand over to Columa for deeper insights into the financials. Thank you again, Olli.