Eurofins Scientific : Q1 2022 Results Presentation

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Q1 2022 Trading Update

Eurofins Core Business delivers strong organic revenue growth in Q1 2022, in line with its recently upgraded organic growth objective of 6.5% p.a.

21 April 2022

www.eurofins.com

Disclaimer

This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for or purchase securities in Eurofins Scientific S.E. and neither this document nor anything contained or referred to in it shall form the basis of, or be relied on in connection with, any offer or commitment whatsoever.

The statements made during this presentation or as response to questions during the Question & Answers period that are not historical facts are forward looking statements. Furthermore, estimates and judgements may be made based on market and competitive information available at a certain time. Forward looking statements and estimates represent the judgement of Eurofins Scientific's management and involve risks and uncertainties including, but not limited to, risks associated with the inherent uncertainty of research, product/service development and commercialisation, the impact of competitive products and services, patents and other risk uncertainties, including those detailed from time to time in period reports, including prospectus and annual reports filed by Eurofins Scientific with the Luxembourg Stock Exchange and regulatory authorities, that can cause actual results to differ materially from those projected. Eurofins Scientific expressly disclaims any obligation or intention to release publicly any updates or revisions to any forward looking statement or estimate.

Eurofins provides in the Income Statement certain alternative performance measures (non-IFRS information as "Adjusted Results and Separately Disclosed Items") that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. (Please refer to description of these terms in the Company's Annual Report). The management believes that providing this information enhances investors' understanding of the company's core operating results and future prospects, consistent with how management measures and forecasts the company's performance, especially when comparing such results to previous periods or objectives and to the performance of our competitors. This information should be considered in addition to, but not in lieu of, information prepared in accordance with IFRS. These APMs are described in more detail in the Consolidated Financial Statements 2021 in Notes 1.20 and

1.21.

Key financial highlights

Reported Revenues	Reported Org. Growth2	Core Business3 Org. Growth2
€1,760▲9.1%1	1.1% vs. Q1 2021	6.5% vs. Q1 2021

• • COVID-19 related clinical testing and reagents activities contributed revenues of over €300m in Q1 2022 significantly down from €400m in Q1 2021

• • FY 2022 COVID revenue objective of €300m upgraded to €400m, assumes an acceleration of ongoing testing ramp down without further significant waves of COVID infections or a new Variant of Concern nor continuation of significant medically prescribed COVID or multi-pathogen testing

1Quarter on quarter change - Q1 2022 vs. Q1 2021

2Organic Growth - Organic growth for a given period (Q1, Q2, Q3, Half Year, Nine Months or Full Year) - non-IFRS measure calculating the growth in revenues during that period between 2 successive years for the same scope of businesses using the same exchange rates (of year Y) but excluding discontinued operations.

For the purpose of organic growth calculation for year Y, the relevant scope used is the scope of businesses that have been consolidated in the Group's income statement of the previous financial year (Y-1). Revenue contribution from companies acquired in the course of Y-1 but not consolidated for the full year are adjusted as if they had been consolidated as of 1st January Y-1. All revenues from businesses acquired since 1st January Y are excluded from the calculation.

3Core Business - excludes COVID-19 clinical testing and reagents revenues

Key operational highlights

• • Eurofins Viracor and Cornell University signed an exclusive agreement to commercialise novel assays to detect organ and tissue damage in transplant and COVID-19 patients

• • Eurofins Genomics will conduct genotyping for up to 5 million participants of Our Future Health, the UK's largest ever health research programme

• • Eurofins Megalab will provide clinical analyses, genomic and pathological studies for the DIPCAN study in Spain, which aims to develop more personalised oncological treatment through the integration of clinical, genomic and radiological image data

• • Significant COVID volumes in early Q1 2022 testing for Omicron in particular

  • • Reduced volumes since then in-line with the relaxation of national testing policies

  • • Should a new significant wave or another more pathogenic variant arise, for instance in the Fall season or medically prescribed COVID or multi- pathogen testing continue at significant levels, we might need to upgrade this new €400m objective further

• • Organic investment plans continuing at pace, expanding BioPharma services laboratories worldwide

• • Strategic acquisitions in biopharma and clinical genetics testing markets - Inpac Medizintechnik (Germany), Genetic Lab Co (Japan) and Genetic Testing Service (Vietnam)

1Core Business - excludes COVID-19 clinical testing and reagents revenues

Outlook

Financial objectives unchanged

• • 2022 has started well and strong financial performance continues with 6.5% Core Business organic growth in Q1 2022

• • Following the significant upgrade in objectives for long-term organic growth rates announced at the FY 2021 results presentation on last 22nd February 2022, the financial objectives of the Group, including M&A, are revised upwards due to the 33% upwards revision of Covid revenues objective for 2022 from €300m to €400m as follows:

  Objectives (including €250m revenues acquired from M&A at mid-year)

€m	FY 20221	FY 20231	FY 20241
Revenues	6,325 (was 6,225) (incl. €400m COVID revenues3 (was €300m))	6,550 (zero COVID revenues3)	7,250 (zero COVID revenues3)
Adjusted EBITDA	1,525 (was 1,500)	1,575	1,725
FCFF before investment in owned sites2	865 (was 850)	900	950

• • Outlook for 2022 and beyond remains strong

1 2022, 2023 & 2024 objectives at average 2021 currency exchange rates, assuming 6.5% organic growth per year and including potential pro-forma revenues from acquisitions of €250m in each of 2022, 2023 and 2024 (consolidated at mid-year), assuming full return to normal of economies/ markets to pre-pandemic situation

• 2 FCFF before investment in owned sites - FCFF less Net capex spent on purchase of land, buildings and investments to purchase, build or modernise owned sites/buildings (excludes laboratory equipment and IT)

• 3 Revenues from COVID-19 clinical testing and reagents