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Medartis (MED) investor relations material
Medartis H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Organic revenue grew 15.3% at constant exchange rates, reaching CHF 123 million in H1, with strong contributions from recent acquisitions and robust regional performance, notably EMEA and US each up 16%.
Integration of NeoOrtho in Brazil and full acquisition of KeriMedical are progressing as planned, with US launch of TOUCH prosthesis underway.
Management team strengthened with new CHRO and EVP R&D appointments, supporting innovation and digital transformation.
Digital offering CMX expanded across all segments, with continued investments in R&D and sales force.
Financial highlights
Core gross margin at 80.7–81%, down year-over-year due to FX, US tariffs, and business mix; core EBITDA margin stable at 17.8%.
Core EBIT margin at 8.5% (flat year-over-year).
Net result impacted by CHF 5–5.2 million unrealized FX losses and higher financing costs from convertible bond.
Cash position at CHF 120.5–121 million as of June 2025, supporting acquisitions.
Operating and free cash flow stable, with disciplined working capital and higher CAPEX.
Outlook and guidance
Full-year 2025 organic sales growth guidance raised to 14–16% at constant exchange rates.
High-teens EBITDA margin guidance reaffirmed, with mitigation actions for US tariffs and FX headwinds.
US market expected to grow above 16% in H2, with gradual progress in Japan, LATAM, and Australia.
Keri TOUCH US launch to ramp up, aiming for 10% market share by 2030.
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