Uniphar (UPR) investor relations material

Executive summary

• Achieved revenue of €3.1bn, gross profit of €457.7m, and EBITDA of €130.9m for FY25, with strong organic growth across all divisions.

• EPS grew 21% year-over-year, with free cash flow conversion at 99%.

• ROCE reached 16.3%, exceeding the 12–15% target range.

• Strategic investments in infrastructure, IT, and people to support long-term scaling and future growth.

• Ambitious target to reach EUR 200 million EBITDA by 2028, primarily through organic growth.

Financial highlights

• Revenue increased 11% to €3,074.7m compared to FY24.

• Group gross profit rose 7% to EUR 457.7 million; organic gross profit growth was 8.9%.

• EBITDA increased by 6% to EUR 130.9 million; organic EBITDA growth was 9%.

• Adjusted EPS up 21% to EUR 0.248; Return on Capital Employed at 16.3%.

• Free cash flow conversion at 99.1%, with reported free cash flow of EUR 129.7 million.

Outlook and guidance

• Targeting €200m EBITDA by 2028, with over 80% of growth expected to be organic.

• Medium-term guidance includes ROCE of 12–15%, FCF conversion of 60–70% at €200m EBITDA, and net bank debt/EBITDA not to exceed 2.5x.

• Supply Chain & Retail guidance to be updated post-integration of new distribution center.

• Progressive dividend policy and continued investment in infrastructure and talent.

• Free cash flow conversion expected to normalize to 60%-70% by 2028.