Medcap Ab · OMXSTO:MCAP

Medcap Ab — Q2 2022 Earnings Presentation

16 slides from Medcap Ab's earnings presentation, August 2022

  1. Slide 1: Q2 Presentation 2022

    aQ, MO P MEDCAP INVESTOR IN LIFE SCIENCE Q2 Presentation 2022

  2. Slide 2: We create value and contribute to improved quality of life in Life Science

    We create value and contribute to improved quality of life in Life Science 2

  3. Slide 3: MedCap | An active investor in Life Science companies

    MedCap | An active investor in Life Science companies MedTech Business Area Specialty Pharma Business Area Sales by Segment (MSEK) Geographies Employees 4% 369 18% Sweden 35% Nordic 1 007 53% Europe 65% Listed on Stockholm 25% RoW Nasdaq Mid Cap MedTech Specialty Pharma 3

  4. Slide 4: Highlights Q2

    Highlights Q2 Q2 2022 • Sales growth by 22% • EBITDA increased by 29% Net Sales (MSEK) 284.1 +22% • Strong performance across the portfolio companies EBITDA • Price increases partially offset (MSEK) 59.4 +29% • Strong margin (21% EBITDA-margin (20%)) EBITDA- • Net Debt / EBITDA ratio margin 20.9% +1

  5. Slide 5: Sales and EBITDA by quarter

    Sales and EBITDA by quarter +22% Net sales per quarter (MSEK) 284 300 258 263 Q2 YTD R12 250 227 223 233 211 206 209 202 183 173 188 200 186 Net Sales 200 166 160 175 +22% 20% +17% 150 120 growth 100 EBITDA +29% 34% +35% 50 growth 0 Q4* EBITDA- Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2

  6. Slide 6: Sales and EBITDA rolling 12 months by quarter

    Sales and EBITDA rolling 12 months by quarter MSEK (Net sales) MSEK (EBITDA) / % 1 100 Sales CAGR: 12% 1 007 250 1 000 EBITDA CAGR: 32% 956 916 885 232 900 858 817 834 218 801 200 786 800 757 763 203 726 739 734 699 709 186 700 672 639 171 596 166 150 600 564 155 157 525 540 147 508 513 140 141 500

  7. Slide 7: MedTech Q2

    MedTech Q2 • EBITDA growth of 13% Q2 2022 YTD • Margin at 26% Net Sales • Good performance across the companies (MSEK) 181.5 +18% 356.7 +18% • Abilia: Key markets perform well EBITDA • Cardiolex: Solid performance in German (MSEK) 47.9 +13% 97.0 +16% entities; won frame agreement • Inpac: Strong dem

  8. Slide 8: MedTech | Sales and EBITDA rolling 12 months by quarter

    MedTech | Sales and EBITDA rolling 12 months by quarter Net Sales and EBITDA-margin – Rolling 12 months MSEK 700 35%  R12 Net sales +20%, primarily 655 627 driven by good demand 600 600 577 30%  R12 EBITDA +17% 544 504 500 483 25% 456 444 451 431 419 424 400 410 400 381 20% 364 312 336 296 280 300

  9. Slide 9: Specialty Pharma Q2

    Specialty Pharma Q2 Q2 2022 YTD • EBITDA growth of 45% Net Sales • Sales growth, driven by the registered pharma (MSEK) 102.7 +29% 190.2 23% portfolio (representing 49% of Sales) and non- license, which is characterized by fluctuating sales EBITDA (MSEK) 16.3 +45% 28.3 44% • Growth of top 8 products

  10. Slide 10: Specialty Pharma | Sales and EBITDA rolling 12 months by quarter

    Specialty Pharma | Sales and EBITDA rolling 12 months by quarter Net Sales and EBITDA-margin – Rolling 12 months MSEK 400 18%  R12 Net sales +12% 352 346 16%  R12 EBITDA +34% 350 335 335 331 331 329 327 318 316 321 310 320 317 309 309 302 308 14% 300 284 265 269 258 256 12% 250 10% 200 8% 150 6% 1

  11. Slide 11: Sales development for portfolio of Specialty Pharma products

    Sales development for portfolio of Specialty Pharma products Portfolio of attractive products Sales development for selection of key products R12 MSEK Attractive platform of own & partner products, 140.0 pipeline with new product launches, 33% top 8 (R12 months) established expertise in product deve

  12. Slide 12: Sales and EBITDA over time

    Sales and EBITDA over time Net sales (MSEK) EBITDA (MSEK) / % 1 150 Sales CAGR: 14% 1 050 EBITDA CAGR: 30% 1 007 250 956 950 916 232 850 817 218 200 757 203 750 709 650 596 150 157 550 525 466 149 450 406 423 337 349 100 350 316 259 250 78 187 59 50 150 47 45 43 38 41 50 33 27 22 -50 08/09 09/10 10/

  13. Slide 13: Working capital and Cash flow

    Working capital and Cash flow Working capital/Net sales R12 Operating cash flow R12 180 29% 160 27% 140 25% 120 23% 100 21% 80 60 19% 40 17% 20 15% 0 Working capital defined as inventory + account receivables – account payables 13

  14. Slide 14: Financial Targets

    Financial Targets Net sales in 3 years Annual EBITDA growth Net debt / EBITDA 1,500 MSEK >15% <3x 14

  15. Slide 15: Investment strategy

    Investment strategy Scope What we look for Life Science Small and mid-sized MedTech, Specialty Pharma Private companies (<25 mEUR) Market fundamentals Value creation journey Clear value proposition Scalable business Life science M&A possibilities Majority Long-term ESG Innovative Ownership No exit h

  16. Slide 16: Thank You! Q&A

    Thank You ! Q&A Anders Dahlberg Kristina Ekblad CEO CFO [email protected] [email protected] +46 704 269 262 +46 703 322 167 16

MedCap — Q2 2022 Earnings Presentation on 6ix