Galenica : Investor Presentation (Version August 2021)

Galenica Group

Investor Presentation

August 2021

Galenica - Health and wellbeing are at the heart of what we do.

Agenda

1	History	3
2	Galenica at a glance	7
3	Main business areas	9
4	Strategy and organisation update	16
5	Financial results H1 2021	23
6	Market update	39
7	Regulatory projects update	43
8	Outlook for 2021	47

August 2021 © Galenica Group

2

1 Building the leading Swiss healthcare platform over 90 years

Relaunch

Foundation of

Organic and

Creation of

Acquisition of

Amavita uniform

Vita-Merfen®

Galenica as a

acquisition-led

Merfen® and

brand in

wholesaler

expansion of

Vita-Merfen®

Switzerland

pharmacies network

Acquisition of

Acquisition of

IPO of

Acquisition

pharma business

Sun Store

Galenica

Acquisition of

Joint Venture

of Dr. Wild

of Mediservice

pharmacies

Santé

Bichsel Group

with Coop Vitality

7.4.2017

1927

1995

2000

2002 / 2004

2005

2007

2008

2009

2013

2017

2018

2019

2020

2021

Strategy to

Acquisition of

Opening of highly

Acquisition

Acquisition of

engage in the

Anti-Brumm®

automated

of medifilm

Hedoga Group

entire Swiss

and Perskindol®

distribution centre in

Acquisition of

healthcare value

Niederbipp

Bahnhof

Acquisition of

chain

Apotheke

Acquisition of

Zürich

Lifestage

Corporate

Segment Logistics & IT

Segment Products & Care

Pharmapool

Solutions AG

August 2021 © Galenica Group

3

1 History of resilient growth and margin improvement…

2010-20

sales CAGR

2010-20

EBIT CAGR3

2010-20 EBIT

margin

improvement3

2020 cash

conversion4

Employees as of 31 December 2020

Logistics, HealthCare	Galenica
Information & Retail1,4

3.3%	2010-20 CAGRs		2.0%
Retail market sales2
	Galenica net sales	3.3%
	Galenica EBIT3		8.7%							3'480
8.7%								3'141	3'165	3'301	6.0%
						3'009
					2'826	2'915
				2'766
		2'603	2'661
	2'526
+195bps
												3.0%
73%
7'205	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	0.0%
				Net sales (CHFm)		EBIT margin %

Source:

Company information, Galenica Annual Reports, IQVIA (former IMS Health)

1. Business segments were newly defined in 2014, the financial information until 2013 does not include Products&Brands
2. Retail market sales include direct and indirect pharmaceutical sales through pharmacies, self-dispensing doctors and drugstores (IQVIA Market Prognosis 2020-2024, Switzerland, published September 2020)
3. 2014-16reported EBIT, 2017-2020 adjusted EBIT (excluding IAS 19 impact and effects of IFRS 16 leasing (since 2019))
4. Calculated as (EBITDA-capex)/EBITDA. EBITDA is adjusted for IAS 19 impact and effects of IFRS 16 leasing, see page 89 of annual report 2020

August 2021 © Galenica Group

4

1 … demonstrating strong performance in both segments

	Products & Care			Logistics & IT
Retail	Products & Care1		Logistics and HCI	Logistics & IT1

(CHFm)		4.6%				3.9%						1.5%					3.2%
															2'245	2'329	2'362	2'372	2'441	2'625
								1'621	1'683		2'064		2'158	2'171
						1'479	1'525
Net sales				1'335	1'393	1'437
1'090		1'246
	2010	…	2013	2014	2015	2016	2017	2018	2019	2020		2010	…	2013	2014	2015	2016	2017	2018	2019	2020
(CHFm)		7.4%				7.7%
							124	124			0.8%					3.9%
						100	110	10%									10%
					93
adjusted2					89
		63	80
51							7.6%
							5%							513
																	5%
										34		35	36	36	40	44	45	45
EBIT
										0%										1.7%	0%
	2010	…	2013	2014	2015	2016	2017	2018	2019	2020	2010	…	2013	2014	2015	2016	2017	2018	2019	2020
		…								EBIT margin (%)
										CAGRs

	Source:	Company information, Galenica Annual Reports
	Note:	Business segments were newly defined in 2014, the financial information until 2013 for Health&Beauty does not include Products&Brands
August 2021 © Galenica Group	1	Segment reporting was revised as at 1 Jan 2021: segments were renamed (former segment "Health&Beauty" renamed to "Products&Care", former "Services" segment renamed to "Logistics&IT"), previous periods were not restated	5
2	2014-16 reported EBIT, 2017-2020 adjusted EBIT (excluding IAS 19 impact and effects of IFRS 16 leasing (since 2019))
	3	2017 including one-off effects (CHFm7.0), comparable EBIT CHFm 43.6 and ROS 1.8%