MedCap : Presentation MedCap Q1 2024

Q1 Presentation 2024

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

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Sales and EBITA rolling 12 months by quarter

The Group's net sales LTM (MSEK)	The Group's EBITDA and EBITA (line) LTM (MSEK)
excluding one-time effects	excluding one-time effects

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MedCap | An active investor in Life Science companies

Last Twelve Months, Q1 2024

Sales by Business Area

Specialty
Pharma		Assistive
29%
	Tech
	1 669	38%
	MSEK

MedTech

33%

Sales by Market

RoW 4%

Europe

21%

Sweden

51%

Nordic

24%

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MedCap Business Areas - three platforms

Position

Drivers

Assistive Tech		Med Tech

Diagnostic ECG

Simplifying life for people	Digitalizing work-flow
with special needs	with easy to use ECG
• Prevalence of e,g, Autism,	•	Cardio
	ADHD, Dementia		diagnostics
•	Independence, accessibility,	•	Hospital digitalization
	and mobility		and integration
•	Aging population

Probiotics,		Components for		Ultra clean air for
Nutrition CDMO		medical imaging		infection control
and Packaging

Partner for contract	Partner for carbon	Improving cost &
manufacturing	fiber engineering &	quality of operating
		manufacturing	room sterile air
•	Wellness	•	Medical imaging	•	Infection control
•	Fitness	•	Mammography	•	Operating room
					capacity & cost
				•	Office-based
					surgery

Specialty Pharma

Developing and marketing specialty pharma in Nordics

(Pharma; Non-License; CDMO)

• Pharmaceutical demand in e,g, Infection; Acute care; ADHD; Substance abuse
• Pharmaceutical shortages

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Group Highlights Q1

• Sales growth by 21%; organic 12%
• Strong growth for Assistive Tech and MedTech, weaker quarter for Specialty Pharma
• EBITA increased by 46% excluding one-time effects from Q1 2023
• Overall margin improvement driven by Assistive Tech and MedTech
• Strong balance sheet; Net Debt/EBITDA -0.3

(excl IFRS16)

• Healthy market for M&A

Q1 2024 excl one-time effects

Net Sales	461.7	+21%
(MSEK)
EBITA	88.5	+46%
(MSEK)
EBITA-margin	19.2%	+3.2 ppt

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Sales and EBITA by quarter

Net sales per quarter (MSEK)										+21%
500																						457 462
450																		380	386	365
400
																323
350													258 263	284
300					211 206 201		227 223 233		242
250		200	186			202
	160	175
200
150
100
50
0
	Q1	Q2	Q3	Q4	Q1	*Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1
		19				20				21				22				23
EBITA per quarter (MSEK)											+46%	92
100
																					89
90																				72	66
80
70																	60	61
60									50				51
											45	43
50											36			39
40		33			29		32			30
	27					27
30				18		22		21
20
10
0
Q1	Q2	Q3	Q4	Q1	*Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1
		19				20

	Q1-24	R12
Net Sales	+21%	+36%
growth
EBITA growth	+46%	+57%
EBITA-margin	19%	19%

Excluding one-time effects

• Excluding one-time effects
• IFRS16 incl, from Q1 2019

Assistive Tech Q1

• EBITA growth of 85%, driven by sales growth
• EBITA margin at 28%
• Abilia had good demand in Norway and Sweden
• Abilia acquired Kompany which adds a communication product to assist in social interaction and reduce elderly's involuntary isolation
• Erimed, Huka, Trident & Swedelift developed mostly well and improved margins in several of the entities. The acquisition of Swedelift contributed to sales and profit growth

	Q1 2024	R12
Net Sales	184.3 +33%	636.1 +84%
(MSEK)

EBITA	50.8	+85% 167.9 +75%
(MSEK)

EBITA-	28% +8 ppt 26% -1.5 ppt
margin

Excluding one-time effects

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Assistive Tech | Sales and EBITA rolling 12 months by quarter

Net Sales and EBITA-margin - Rolling 12 months

MSEK

700										50%
										636
									591	45%
600
										40%
500									492	35%
									420	30%
400
								345		25%
300		230	231				270			20%
			242	249
	224	237
211
205									15%
200
										10%
100
										5%
0										0%

• R12 Net sales +84%, primarily driven by good demand and the acquisition of Swedelift
• R12 EBITA +75%

Excluding one-time effects

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MedTech Q1

• EBITA growth of 77%, driven by sales growth
• EBITA margin at 18%
• Cardiolex: Good demand and sales growth in both Germany and Sweden. Demand for vacuum systems stabilized. Progress in Germany with digital offering
• Inpac: Increased sales of nutrition and other packaging solutions. Initiated investments related to new manufacturing site
• Multi-Ply:Achieved record sales based on good demand and rebound of key customer
• Toul Meditech & Surgicube: Good sales in current main markets, while adding resources and activities to open new distribution channels / markets for the long-term

	Q1 2024	R12
Net Sales	160.5 +33%	551.9 +22%
(MSEK)

EBITA	28.9	+77%	91.0 +45%
(MSEK)

EBITA-	18% +4.5 ppt 17% +3 ppt
margin

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