Financial Performance - Revenue grew by 8% year-over-year in Q2 2025, driven by a 10% increase in the BDS (Biopharmaceutical and Diagnostic Solutions) segment, offsetting a 2% decline in the Engineering segment[12, 30] - High-Value Solutions (HVS) accounted for 42% of total revenue in Q2 2025[12] and increased 13% year-over-year to €116.8 million[30] - Gross profit margin increased by 210 bps to 28.1%[31] - Adjusted EBITDA increased to €65.1 million, with an adjusted EBITDA margin increase of 240 bps to 23.2%[31] - Net profit was €29.7 million, or €0.11 of diluted EPS[31] Segment Performance - BDS segment revenue increased by 10% to €244 million, with a gross profit margin increase of 350 bps to 31.2%[33, 34, 35] - Engineering segment revenue decreased by 2% to €36.5 million, with a gross profit margin decrease to 6.6%[36, 37] Capacity Expansion and Investments - Capital expenditure (CAPEX) in Q2 2025 was €69.1 million[40] - Net cash generated from operations in Q2 2025 was €44.9 million[40] - Free cash flow in Q2 2025 was negative €13.0 million[40] - The company announced financing agreements totaling €200 million to support capacity expansion in Latina and Fishers facilities[40] Outlook - The company maintains its FY 2025 revenue guidance of €1.160 billion - €1.190 billion, representing a year-over-year growth of 5% to 8%[42] - The company expects HVS to account for 40% to 42% of revenue in FY 2025[42] - Adjusted diluted EPS is projected to be €0.50 - €0.54 for FY 2025[42] - Adjusted EBITDA is projected to be €288.5 million - €301.8 million for FY 2025[42]

Q1 2025 Financial Performance - Revenue increased by 9% to €256.6 million, driven by an 11% growth in the Biopharmaceutical and Diagnostic Solutions (BDS) segment, offsetting a 4% decline in the Engineering segment[27, 30, 36, 57] - High Value Solutions (HVS) increased 25% year-over-year to €110 million, representing 43% of total revenue, fueled by strong demand for high-value PFS and a partial recovery in EZ-fill® vials[12, 30] - Adjusted EBITDA increased 13% to €57.4 million, with the adjusted EBITDA margin increasing 100 bps to 22.4%[31] - Net profit was €26.5 million, or €0.10 of diluted EPS, while adjusted net profit was €28.1 million, or €0.10 of adjusted diluted EPS[31] Segment Trends - BDS segment revenue increased 11% to €221 million, with a gross profit margin increase of 420 bps to 31.3%, driven by improvements in Latina and Fishers facilities and a higher mix of accretive HVS[33, 34] - Engineering segment revenue decreased 4% to €35.7 million, with a gross profit margin decrease to 10.7%, impacted by project mix as the company prioritized the completion of legacy projects in Denmark[35, 36] Balance Sheet and Cash Flow - Total cash and cash equivalents stood at €90.7 million, with net debt at €300.2 million[39] - Capital expenditures (CAPEX) amounted to €69.7 million, with net cash generated from operations at €99.8 million and free cash flow at €29.7 million[39] FY 2025 Guidance - Revenue is projected to be between €1.160 billion and €1.190 billion, implying a revenue growth of 5% to 8%[41] - Adjusted diluted EPS is expected to be between €0.50 and €0.54, with adjusted EBITDA between €288.5 million and €301.8 million[41]