Strong execution in service of patients and sustainable value

2025 was a year that tested resilience across healthcare systems worldwide. In this environment, we delivered strong performance and sustained growth, supported by disciplined execution and a clear sense of purpose.

As Chief Financial Officer, I see this performance as confirmation that our strategy is working and that our focus on long-term value creation is translating into tangible results.

Our financial performance in 2025, with revenues of €7.7 billion and adjusted EBITDA margin of 34%, was driven by strong execution across our five growth drivers and a diversified portfolio. We operated at increased scale, delivering multiple launches across regions, while maintaining operational rigor and investment discipline. This gives us confidence as we look ahead, reflected in our financial guidance for 2026 of revenues growing in a high single-digit to low double-digit percentage range at CER.

At the heart of this performance is our commitment to patients. Every investment decision and execution choice is guided by the question of how we can best serve people living with severe diseases. In 2025, we continued to advance a clinical pipeline of nine molecules, reflecting our determination to bring meaningful innovation to areas of high unmet need. At the same time, we worked to ensure that innovation reaches patients who need it.

I am also pleased to share that we also progressed in reducing our environmental footprint, with a particular focus on engaging suppliers who contribute significantly to emissions. This work supports our ambition to build a healthier future and has been recognized externally through strong environmental, social and governance ratings, including leading recognition for climate performance.

The strength of our results in 2025 gives us confidence for the future. We are moving forward with a resilient business model, strong execution capabilities and a clear commitment to patients, society and long-term sustainability. By continuing to collaborate with patients, caregivers, partners and health system stakeholders, we aim to ensure that our performance translates into lasting impact where it matters most.

I would like to thank all UCB colleagues for their dedication this year. The quality of your work and collaboration gives me great confidence in our ability to keep delivering sustainable value for patients, society, and the company.