SKAN Group AG

Investor Presentation • Aug 19, 2025

SKAN Group AG Presentation of the HY 2025 Financial Results

19 August 2025

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This presentation ( the "Presentation"), contains information regarding SKAN Group AG (the "Company") and each of its subsidiaries and affiliates (the "Group"). The information and opinions contained in this Presentation do not purport to be comprehensive and are provided as at the date of this Presentation or as of the date specified herein. Certain financial information (including percentages) in this Presentation may have been rounded according to commercial standards. As a result, the aggregate amounts may not correspond in all cases to the aggregated amounts of the underlying (unrounded) figures appearing elsewhere in this Presentation.

The financial information presented herein has been prepared in accordance with Swiss GAAP FER. Certain financial data included in this Presentation consists of non-Swiss GAAP FER financial measures. These non-Swiss GAAP FER financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with Swiss GAAP FER. In addition, certain financial information contained herein has not been audited, confirmed or otherwise covered by a report by independent accountants and, as such, actual data could vary, possibly significantly, from the data set forth herein. None of the Company, the Group, and any other person is under any obligation to update or keep current the information contained in this Presentation or to correct any inaccuracies which may become apparent, and any opinions expressed herein are subject to change without notice.

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Agenda

• 2.
• 3.
• 4.

Highlights of the first half year

Order Intake	Net Sales
in CHF million	in CHF million
213.0	134.6
+20.2%(1)	-17.8%(1)
EBITDA	EBITDA-Margin
in CHF million	as % of Net Sales
0.9	0.7
-95.7%(1)	-12.4pp(1, 3)
Investments	Order Backlog
in CHF million	in CHF million
21.5	386.4

• SKAN recorded strong order intake in the first half year.
• Order backlog climbed to a new record high and book-to-bill ratio at 1.6 provides good visibility.
• Net sales and EBITDA are below the previous year's levels due to project postponements, which reflect the highly cyclical nature of SKAN's equipment business.
• Full order books and a high-quality order pipeline will enable the company in the second half of the year to compensate for the temporary shortfalls and achieve its growth targets.
• Total investments of CHF 21.5 million mainly related to the strategic initiative Pre-Approved Services.

SKAN

Both segments drive strategic initiatives forward

Equipment & Solutions

• Strong order intake in the first half of 2025 (+28.4%).
• Lower net sales and negative segment EBITDA due to project postponements and continued investments in strategic initiatives.
• R&D expenses (9.8% of sales) were mainly allocated to Integrated Process Solutions (flexible integrated systems for smaller batches) and standardization.

Services & Consumables

• Steady order intake and net sales as well as lower margin due to high comparative basis from H1 2024 (large order for high-margin AT consumables).
• Thanks to many new service orders and growing installed base, service business is expected to pick up in H2 2025.
• The development of Pre-Approved Services was driven forward in H1 2025 and is on track for regulatory approval in Q1 2026.

Stronger customer proximity through accelerated decentralization and expanded offering

Allschwil CH

Headquarters / production sites Engineering, sales, service, assembly, R&D, laboratories

Stein CH

Production site Prototype construction, steelwork, ebeam competence

São Paulo BR Sales & services office Sales and life cycle support South America

Raleigh US Sales & services office Sales and life cycle support US

Görlitz DE

Production site Focus: steelwork, production, assembly, qualification

Okinawa JP Production site Sales, assembly, and life cycle support Far East

ABC Transfer® Chambray-lès-Tours FR

Transfer-Systems & Betabag Designing, manufacturing and distributing sterile transfer solutions for pharmaceutical applications

Aseptic Technologies Gembloux & Ans BE Aseptic manufacturing process Aseptic Filling equipment & Closed Vial® Technology

Metronik Ljubljana SI & Zagreb HR

Software solutions Manufacturing digitalization of lifesciences industry (Manufacturing Execution System (MES))

Another step towards the «one-stop-shop» solution provider for our customers

19 August 2025 SKAN Group AG Presentation of the HY 2025 Financial Results

Extension of service offering for customers with immediate value contribution

Objectives:

Continue growth track-record Increase recurring revenue base Expand profitability

• Investment in production capacity expansion and scale-up
• Continuous innovation to meet customer's demand and to maintain technical leadership
• Continuous active contribution to new guidelines & regulations
• Grow service revenues with everincreasing installed base of isolators

• Scale-up of Aseptic Technologies
• Intensified joint developments with established fill-finish partners
• In-house development of automated process equipment in combination with isolator technology
• Increase exposure to aftermarket services & consumables revenues
• Expand offering to include software and digital integration services
• Increasing, global product lifecycle support with expanding installed base
• Further development of innovative consumables (e.g. closed vials, transfer systems, filling kits)
• Additional service offerings of "pre-approved" solutions to help customers shorten time-to-market

• Accelerate digital transformation
• Offer proprietary Manufacturing execution system (MES)
• Industry 4.0
  • "One button release" paperless GMP compliant documentation
  • Artificial Intelligence for preventive maintenance
• Increased augmented reality service and virtual reality design support

Metronik – a leading software provider and integrator for production processes in the life science industry

• Leading provider of software for the digitization, automation and control of production and building management processes.
• Modular, proprietary and web-based software for manufacturing operations management and execution systems (MES).
• Proven expertise with >100 life sciences clients including Novartis, Sandoz and Stada – and >1'000 completed projects.
• Extensive expertise in software development, process automation, IoT(1) integration and energy management.
• Entrepreneurial culture with uncompromising customer focus.
• Headquartered in Ljubljana, Slovenia, with a subsidiary in Zagreb, Croatia, and partners across Europe.

SKAN

Digital backbone of modern pharma production environments

MePIS is a suite of modular software solutions that enable manufacturing companies to digitalize and optimize production processes and facility buildings, while achieving full data integrity and regulatory compliance .

SKAN

MePIS provide cutting edge solutions in manufacturing operations and execution management (all-inclusive MES), in the acquisition, archiving and analysis of process data, as well as in recipe management, operational excellence, Track & Trace, serialization and aggregation, advanced process control and building management systems.

MePIS features unique technology for integration of Supervisory/Control level with MES (IT/OT integration layer).

MePIS is 100% web-based and can be easily implemented and integrated into existing infrastructure.

ABC Transfer – specialized in transfer systems for the aseptic filling of pharmaceuticals

• Leading innovator in patented secure rapid transfer systems, enhancing efficiency in pharmaceutical production.
• Offers several types of registered products: sterile transfer ports, sterile transfer bags and sterile containers, widely compatible with existing market solutions and meeting Annex 1 requirements.

• 5'000 single-use Betacleanbag and >200 Alpha Ports sold, recurring revenues are well anchored.

• 75 customers, including renowned blue-chip clients such as GSK, Sanofi, Lilly and Merck.

• Entrepreneurial culture with uncompromising customer focus.
• Headquartered in Tours, France.

SKAN

Transfer systems for sterile pharmaceutical manufacturing

01

Alpha port

• Stainless steel port integrated into isolators
• Connects to beta containers or beta bags

Beta container

• Connects to alpha port
• Ensures the safe transfer of sterilized tools or components into isolator filling lines

Single-use beta bags

• Connects to alpha port
• Ensures the safe transfer of stoppers, media plates or other components into filling lines

Agenda

• 1.
• 1. Financial Results HY 2025 Burim Maraj (CFO)
• 3.
• 4.

Strong order intake momentum in the reporting period

Order intake by regions

41.5%

73.6

-10.2%

31.0%

66.1

Americas

(CHFm and ∆ in%)

Comments

• Robust growth fueled by high demand for ADC (Antibody Drug Conjugates) filling lines.
• With a book-to-bill ratio of 1.6x, visibility for net sales development remains strong.
• The order pipeline remains at a high level, and the win rate exceeded 40%, reinforcing confidence in continued growth.
• Strong European order growth fueled by significant capacity expansions at our customers.
• US demand potential remains high, with decision-making expected to pick up following a cautious start to the year.
• Asian market at 9.8% of total volume with fluctuations caused by a few larger individual orders.

6.6%

11.7

Asia

+78.5%

9.8%

20.8

1.7% 0.4% Others

2.9 0.8

-71.8%

SKAN's project business characterized by non-linearity of value creation and cash-in

General value creation structure

(in % per project milestone)

• Net sales and EBIT recognition is closely linked to value creation based on project progress using the cost-to-cost PoC method.
• During the design & development phase, value added is low and accordingly net sales and EBIT are also lower.
• During value-added manufacturing & assembly, the net sales and EBIT curve rises steeply, while it flattens out again towards the end of a project.
• Cash-in through advance payments from customers at the beginning of a project and at milestones (start of manufacturing, factory acceptance test, site acceptance test, project completion).

SKAN

Record backlog drives growth outlook for H2 and beyond

Order backlog

(CHFm and ∆ in%)

Net sales (CHFm and ∆ in%)

Comments

• Net sales decrease mainly driven by project postponements.
• Additionally, more projects in lower value creation phases weighed on net sales.
• Adjusted for currency effects, the net sales decline amounted to -16.9%.
• Record CHF 386.4m backlog provides good visibility for the rest of the year and beyond.

Growth target on track for H2 despite temporary margin dip

EBITDA

(CHFm and margin in %)

Comments

EBITDA declined to CHF 0.9m, resulting in a margin of 0.7%, primarily driven by non-linearity of value creation of the project business.

Development of cost elements:

• Material costs are below prior-year levels due to project phase timing, with an increase expected in H2 as projects move into production and boost net sales and margin.
• Personnel expenses below prior year due to lower provision requirements.
• Other operating expenses rose mainly due to higher travel activity, increased maintenance and IT-related costs, reflecting the continued expansion of SKAN's operational activities.
• Continued investments (9.8% of net sales) in strategic initiatives directly expensed.

Note: Rounding differences may occur (1) CHF 2.1m change in inventory of finished, unfinished goods & work in progress not considered (HY 2024: CHF 3.4m)

Segment Equipment & Solutions (E&S)

• (CHFm and margin in %)
  • -202.3%

-9.1

EBITDA Comments

• Strong increase of +28.4% YoY in order intake reflecting strong demand.
• Net sales & EBITDA impacted by the postponement of a major order scheduled for the valueintensive phase in H1, along with the shift of multiple projects currently in the lower value-intensive commissioning and qualification phase.
• As a result, approximately 20% of net sales and corresponding margin recognition have been shifted.
• Increased order backlog of CHF 346.0m (+22.3%) provides good visibility for H2 and beyond.

Segment Services & Consumables (S&C)

EBITDA Comments

10.0

• Stable order intake and net sales mainly due to high comparative basis from H1 2024:
  • extraordinary performance of Aseptic Technologies.
  • Large single orders of spare parts packages.
• Net sales impacted by the timing of maintenance contracts and retrofit projects execution, which are scheduled for the second half of the year. This increased order backlog to CHF 40.4m (+19.5%)
• EBITDA margin decline impacted by the product mix, with a rebound anticipated in H2 2025.

Cash flow driven by non-linearity of projects

Cash flow (CHFm)

Net-working-capital (NWC)

(CHFm and in %)

Comments

• Free cash flow reached CHF 9.2m, compared to CHF -29.5m in the same period last year.
• Financing CF is mainly driven by the payout of the dividend in May.

Note: Rounding differences may occur. 20 (1) including other current liabilities, accrued liabilities and deferred income

Trade payables & advance payments

(1)

Other current liabilities

Strong balance sheet & finance structure

Balance sheet as of 30th June 2025

(CHFm)

Comments

• position of CHF 42.9 million as of 30th June 2025. As a result, the SKAN's net liquidity remained stable. Total equity amounted to CHF 183.4 million, which corresponds to a very solid equity ratio of 48.1%.
• Financial structure remains strong

Note: Rounding differences may occur.

• (1) Includes trade receivables, other current receivables, inventories, work in progress and prepayments & accrued income.
• (2) Includes property, plant and equipment, financial assets, intangible assets and deferred tax assets.

(3) Includes trade payables, advance payments from customers, other current liabilities, current provisions, and accrued liabilit ies & deferred income. (4) Includes other non-current liabilities, deferred tax liabilities and non-current provisions.

• 1.
• 2.

• 4.

• Outlook 2025 Thomas Huber (CEO)

Confident market and business outlook

Market development

• SKAN continues to operate in a structurally growing market. Main drivers are:
  • The underlying growth of the global pharmaceutical and biotech market;
  • The reinforcing trend towards injectable drugs (three quarters of drugs in development are designed for injectable dosage form);
  • The shift from traditional cleanrooms to the safer and more sustainable isolator technology;
  • The reshoring of pharmaceutical production.
• As a consequence, demand for process solutions for the aseptic filling of drugs and for the associated services and consumables will continue.

Business development

• Even though the cyclical nature of the first half of the year, which is typical for the business, was more pronounced than in previous years, we are confident that in the second half of the year the temporary gaps in net sales and EBITDA caused by project postponements will be closed.
• Optimism is fueled by the strong order intake, the high order backlog and the full pipeline of requests for quotations.
• In addition, pre-production of standard isolators can be sold in the second half of the year.
• Together with Metronik, SKAN can now offer customers a comprehensive solution along the entire pharmaceutical value chain – from isolator technology and automation to fully digitalized and integrated manufacturing processes.

Stability

With our global presence and focus on customer proximity, SKAN is well positioned to ensure stability and delivery reliability even under changing trade and customs regulations.

Expanding the SKAN location in the US

Strategic relevance

Current developments in US customs policy confirm the strategic relevance of our plan to expand the SKAN location in the US and establish local production. We are currently reviewing suitable options.

Supply of US customers from Görlitz (DE)

We will continue to reliably supply our US customers from our location in Görlitz (DE). This allows SKAN to export to the US on the same terms as its competitors, all of whom are based in the EU.

Financial targets and guidance confirmed

Together always one step ahead!

Abbreviations and Definitions

Alternative Financial Performance Measures (APM)

• EBITDA: Operating result (EBIT) plus depreciation, amortisation.
• EBITDA margin: EBITDA as a percentage of net sales from goods.
• EBT: Profit before income taxes.
• Equity ratio: Equity at the end of the period divided by total assets at the end of the period.
• Headcount: Number of people employed by SKAN Group at the time indicated (i.e. excluding contractors).
• Book-to-bill ratio: Order intake divided by net sales.
• Net Cash: Cash and cash equivalents including liquid funds investment less current and non-current financial liabilities.
• Net working capital (NWC): Total current assets (excluding cash and cash equivalents) minus trade payables, advance payments from customers, other current liabilities, current provisions and accrued liabilities and deferred income.
• Operating result (EBIT): Earnings before total financial result and income taxes.
• Return on capital employed (ROCE): Operating result (EBIT) divided by the sum of the average total assets minus the average current liabilities, expressed as a percentage.