Vimian Group AB (publ)

Strong Q3 performance with double-digit organic growth (and good cash conversion) - Revenue +15% to €120m in Q3; organic +11% (acquisitions +3%, FX +1%). - Adjusted EBITDA +14% to €29.2m, margin 24.3% (driven by all 4 segments). - Operational cash conversion 71% (operating cash flow €22.6m), with net working capital €123m (~25% of revenue).

Outlook / guidance: margins expected stable for FY26; growth expectations reiterated - Management expects stable full-year 2026 adjusted margin vs ~25%, despite a slightly lower Q3 margin YoY (explained by higher central costs). - North America Orthopaedics (MedTech): reiterated low single-digit growth expectation in Q4 with unchanged market conditions; acceleration to higher growth would require market inflection in 2027+. - Veterinary services: Q4 margins expected roughly at year-to-date average around ~28.5–29%.

Specialty Pharma: campaign timing explained; underlying growth still solid - Reported specialty pharma growth affected by prior-year national sales campaign timing; management confirmed no remaining campaign distortion in Q4. - Underlying growth, adjusted for timing: Specialty Pharma organic 11% in Q3 (vs 7% reported “underlying” momentum as stated, then normalized for campaign effects). - Key product update: launched expanded PAX allergy test covering +25 allergens.