va-Q-tec AG

Earnings Release • Aug 11, 2022

va-Q-tec H1 2022 Earnings Release Presentation

2022-08-11

VQT with continued strong growth in H1

Revenue up +17 % in H1 2022 to EUR 55,4 million compared to EUR 47,3 million in H1 2021

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Outstanding growth in the Services (+30 %) and Systems (+21 %) divisions

Strong growth in the non-Covid-related TempChain business of +28% y-o-y in the first half of 2022, above growth of overall TempChain business of +25%

Significantly improved operating cash flow and capex reduction; free cash flow in H1 2022 up by around EUR 7.5 million year-on-year, FCF break-even in sight

Revenues by business line

Group revenues grew by 17%

Group revenues grew by 17%

Revenue Shares TempChain 74% Corona-related Business 13% Revenue Shares TempChain 78% Corona-related Business 13% H1 2021 47,3 Mio. EUR H1 2022 55,4 Mio. EUR +17% Services Systems Products 17,4 25,9 Services 10,6 Systems Products 12,5 14,4 19,9 H1 2021 H1 2022

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Consolidated income statement

Breakdown by cost position

	H1 22 In TEUR	H1 21 In TEUR	Difference in %
Revenue	55.421	47.288	+17%
Total income	65.608	59.063	+11%
Cost of Materials and Services	-25.268	-25.009	-
Gross profit	40.340	34.054	+18%
Personnel expenses	-18.608	-16.390	+14%
Other operating expense	-12.604	-8.541	+48%
EBITDA	9.128	9.123	0%
Depreciation & amortization	-7.316	-6.487	+13%
EBIT	1.812	2.636
Financial result	-1.277	-1.052
EBT	535	1.584

Anticipated future business Higher logistics and energy costs, normalized travel costs

Cash flow summary

Cash generation strongly improved

In Mio. EUR	H1 22	H1 21		Comments
Operating cash flow before changes in Working Capital	6,9	7,4
Operating cash flow	1,8	0,4		term growth mainly done
Investing cash flow	-5,4	-11,5
Thereof payments for investments in property, plant and equipment*	-5,4	-10,9		improvement
Financing cash flow	4,4	2,0		2022
Net change in cash	0,2	-5,8
Free cash flow	-3,6	-11,1
Cash and cash equivalents	10,8	8,0		Available lines + cash =

Comments

• Operating CF with a good improvement
• Accelerated investments to ramp-up capacity for CoVid-19 logistics and midterm growth mainly done
• Strongly improved FCF, +7.5 Mio. EUR improvement
• Continuing to expect a positive FCF in 2022

c. 25 Mio. EUR

Solid equity ratio of 34%, no goodwill No Goodwill, Net Debt excl. mortgage loans: 2.1 x last 12 months EBITDA

Short-term outlook

Guidance confirmed

	Guidance FY22e	Assumptions
Revenues	115-122 Mio. EUR	• With ~75% Healthcare revenues in 2022E, stable business assumed • No major negative impact from geopolitical tensions • Supply chain constraints and increased inflation considered to some extent
EBITDA	Growing – stable Margins

Game changer for secure transport and delivery of frozen food

Blue-Chip partnerships for secure TempChains

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

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