Mabion (MAB) Company presentation summary

Company overview and strategy

• Over 17 years of experience in developing and manufacturing biological drugs, with comprehensive CDMO services and robust quality management systems certified by multiple authorities.

• Strategic transformation into a fully integrated CDMO focused on biologics, targeting small and medium-sized projects from early discovery to commercial production.

• Strong alignment with long-term biotech trends, especially in monoclonal antibodies and recombinant proteins, leveraging flexible production and regulatory-compliant facilities.

• Business development targets small and medium pharma clients in highly regulated markets, offering end-to-end services from cell line development to fill & finish.

Financial performance and operations

• Revenue dropped in 2024 due to the end of a guaranteed period with Novavax and delayed recognition of new UK CDMO contracts, but high gross margins were maintained.

• Strict cost discipline continued despite inflationary pressures, with OPEX up 4.5% year-over-year mainly due to increased business development spending.

• Strong operating cash flow in the first nine months of 2024 offset nearly 49 million PLN in investment and financing outflows, ending with 47 million PLN in cash.

• No outstanding bridge loan at the end of Q3 2024, following full repayment of a 15 million USD EBRD facility.

Shareholding and capital structure

• Listed on the Warsaw Stock Exchange main market since 2013, with a diversified shareholder base; largest stakes held by Twiti Investments, Maciej Wieczorek, and Polfarmex.

• Share capital consists of over 16 million shares, including privileged shares with double voting rights, totaling over 17.7 million votes.

• No dividend paid in the last five years; profits are retained to support ongoing development and investment.