Dishman Carbogen Amcis Ltd

- Dishman Carbogen Amcis Limited has an enabling resolution in place for a potential fundraise. - The company is planning a fundraise, but specific details and timelines are not disclosed yet. - The primary intention of the fundraise appears to be debt reduction to lower interest costs. - No explicit mention of fresh capital expenditure funding through fundraising at this time. - The company is focused on reducing net debt, with a target of reducing debt by at least 10 million Swiss francs in the current year. - The first quarter has already seen a substantial reduction in net debt, close to 8 million Swiss francs.

- Co-investment in new facility in Switzerland with a large Japanese customer focused on ADC products. - Japanese customer's investment: 15 million CHF initially; second round investment 25 million CHF, with Dishman contributing internal hours, not cash. - Full-year CAPEX guidance reduced to below initial 25 million Swiss francs estimate; Q1 CAPEX was around US$5.6 million (~4 million CHF). - Focus on expanding soft gel manufacturing in India (Bavla) targeting semi-regulated markets with growing commercial quantities. - Efforts ongoing to restart and generate revenues from the HiPo facility in Bavla, India. - Fundraise plans underway with an enabling resolution taken; main aim includes debt reduction to improve financial flexibility. - Integration efforts among Switzerland, India, and France aiming to enhance capacity and profitability in upcoming quarters.

- Development pipeline at approximately 117 million Swiss francs as of June 30, 2025; commercial order book around 77 million Swiss francs (Q2 2025). - Full-year revenue and profitability expected to increase compared to the previous year; Q2 likely to pick up with integration efforts between Switzerland, India, and France facilities. - France facility expects revenue growth to reduce current EBITDA losses over the year. - HiPo facility in India (Bavla) is being evaluated for new projects; positive outlook for re-starting operations soon. - Soft-gel business and CRAMS in India are expanding, with increasing commercial quantities and market interest in semi-regulated markets. - Market focus on U.S., Europe, and Japan, with significant growth potential especially in Japan. - No specific quarterly guidance given, but overall growth trajectory and mid- to long-term outlook is positive.

- Revenue and profitability are expected to keep increasing overall, though no specific quarterly guidance is provided due to business nature. - Integration efforts between Switzerland, India, and the French facility are ongoing to boost revenue. - The French facility, currently making EBITDA losses, is expected to reduce these losses as business increases through the year. - Swiss RFPs (requests for proposal) are increasing, indicating growing demand. - Japan market share is expected to grow significantly over time. - Marketable molecules segment, especially vitamin D analogs and cholesterol business, is expected to see growth in remaining quarters. - Debt reduction plans and possible fundraise aim to lower finance costs, potentially improving profitability. - CAPEX is lower than expected this year, indicating controlled expenditures. - Overall, mid- to long-term view is positive with growth in revenues and profits anticipated.

- As of June 30, 2025: - Development pipeline: Approximately 117 million Swiss francs. - Commercial order book: Roughly 77 million Swiss francs (for Carbogen Amcis). - The order book reflects ongoing healthy demand and robust pipeline for the company’s CDMO business. - There is optimistic visibility on increased revenues driven by integration of Swiss, Indian, and French facilities, and ramp-up of the French facility and Swiss RFPs. - No specific quarter-wise order book growth guidance is provided due to the business nature, but overall full-year revenue and profitability are expected to improve.