va-Q-tec AG

Earnings Release • May 11, 2020

va-Q-tec AG Q1 2020 Earnings Release

May 11th, 2020

• Highlights and Business Update
• Financial Performance Q1 2020

Today's presenters

• Outlook 2020
• Q&A

Dr. Joachim Kuhn (CEO) Stefan Döhmen (CFO)

• CoVid-19 Impact mostly relevant in business line "Products"
• Systems and Services with slight tailwind (Healthcare logistics)
• Supply chain stable – no business interruptions
• Production and service continued
• No positive tested cases currently @ VQT
• TempChain Service Network up and running
• All customer orders could be fulfilled
• No worktime reduction

Growth continues despite CoVid-19

Good growth performance Revenue +15% to 17.6 Mio. EUR (Q1 2019: 15.2)

Systems revenue up 92% YOY to 4.8 Mio. EUR

(Q1 2019: 2.5 Mio. EUR)

EBITDA +27% to 2.8 Mio. EUR (Q1 2019: 2.2)

Healthcare & Logistics with >70% Revenue share

(Q1 2019: 59%)

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Group revenues grew by 15%, Healthcare & Logistics with 73% Revenue share

In EUR Mio.

Q1 2020: 17.6 Mio. EUR

Strong growth fuelled by Services and Systems, "Products" with CoVid-19 impact

Strong EBITDA increase by 27% YOY

Cash Flow Summary: Strong operational CF development

in EUR Mio.	Q1 20	Q1 19
Operating cash flow before changes in Working Capital	2.0	0.5
Operating cash flow	1.5	-0.9
Investing cash flow	-2.1	-1.3
thereof payments for investments in property, plant and equipment	-1.8	-1.4
Financing cash flow	2.3	-2.0
Net change in cash	1.6	-4.3
Free Cash flow	-0.6	-2.2

Comments

• Operating CF before and after WC positive, clear upward trend
• Investing CF on low level, similar to Q1 2019
• Free CF still slightly negative, but approaching the zero line
• Cash position of 9.2 Mio. EUR at the end of Q1 2020

Solid equity ratio of 39%, no goodwill

Outlook 2020 confirmed

FY 2019 FY 2020 Outlook incl. possible CoVid-19 effects FY 2020 Outlook excl. CoVid-19 effects 64,7 Mio EUR +28% Moderate to medium growth Medium to strong revenue growth 13% on Total income, 15% on Revenue Stable margin Margin increase Revenue EBITDA

Our portfolio plays a significant role along the entire COVID-19 healthcare logistics

Currently >50% of all intl. transported testkits use VQT solutions

Temperature – Time – Testified Precision

Thank you for your attention!

va-Q-tec AG

Alfred-Nobel-Straße 33 97080 Würzburg Tel.: +49 931 35942-1616 Fax: +49 931 35942-0 IR@va-Q-tec.com

TICKER

Symbol: VQT Bloomberg: VQT:GY Reuters: VQTG:DE ISIN: DE0006636681 WKN: 663668

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