va-Q-tec AG — Earnings Release 2020

Nov 6, 2020

va-Q-tec AG 9M 2020 Earnings Release

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November 6^th, 2020

• Highlights and Business Update
• Financial Performance 9M 2020
• Outlook 2020
• Q&A

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

• CoVid-19 Impact mostly relevant in business line "Products", yet
• Systems and Services with slight tailwind (Healthcare logistics)
• Supply chain stable – no business interruptions
• Production and service continued
• TempChain Service Network up and running
• All customer orders could be fulfilled
• No worktime reduction
• Second lockdown – VQT producing at full speed

va-Q-tec with dynamic growth in 9M 2020

Good growth performance Revenue +13% to 52.3 Mio. EUR (9M 2019: 47.3 Mio. EUR)

Systems revenue up 51% YOY to 14.4 Mio. EUR

(9M 2019: 9.1 Mio. EUR)

EBITDA +44% to 9.6 Mio. EUR* (9M 2019: 6.7 Mio. EUR)

Positive EBIT*

*adj. for F/X effects

Healthcare Business with 75% Revenue share (9M 2019: 65%)

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Group revenues grew by 13%, Healthcare & Logistics with 75% Revenue share

Strong growth fuelled by Services and Systems

Strong EBITDA increase by 44% YOY

Cash Flow Summary: Continued strong operating CF performance

in EUR Mio.	9M 20	9M 19
Operating cash flow before changes in Working Capital	6.5	3.6
Operating cash flow	5.9	3.2
Investing cash flow	-6.6	-6.7
thereof payments for investments in property, plant and equipment	-6.0	-6.5
Financing cash flow	4.0	-2.5
Net change in cash	3.3	-6.0
Free Cash flow	-0.7	-3.5

Comments

• Operating CF before and after WC positive, clear upward trend
• Investing CF similar to 9M 2019
• Free CF only slightly negative and significantly improved,

Solid equity ratio of 38%, no goodwill

Outlook 2020 confirmed: 10-15% topline growth, improved margin

Revenue

EBITDA

FY 2019	FY 2020 Outlook incl. possible CoVid-19 effects
64,7 Mio EUR	10-15% growth
13% on Total income, 15% on Revenue	Improved margin

Advanced passive packaging solutions

Very low temperatures required for novel mRNA vaccines…

…yet dry ice is toxic and becoming scarce

DHL's assessment of vaccine distribution viability for mRNA (ultra-low temperature vaccines) COVID vaccines

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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