Ypsomed Holding AG is a Swiss med‑tech innovator focused on self‑injection and drug delivery systems, primarily serving diabetes and expanding into other therapeutic areas. Listed on SIX under YPSN, the company reported CHF 748.9 M revenue and CHF 87.5 M net income in FY 2024/25, employing ~2,800 staff globally.
📈 Pitch Deck: Investment Case
Strategic Re‑Focus
- April 2025: Divested Diabetes Care unit to TecMed (~CHF 420 M) to concentrate on high-growth, high-margin Delivery Systems (pens, autoinjectors, pumps).
- Delivered 30%+ y/y revenue surge in Delivery Systems during FY 2024/25.
Growth & Infrastructure
- New production sites: Changzhou (June 2025) and expanded Schwerin facility to support GLP‑1 and diabetes device demand.
- Ypsomed 2030 capex program (~CHF 100 M+) focusing on scalability and innovation.
Financial Performance & Upside
- FY 2024/25: Revenue CHF 748.9 M, Net income CHF 87.5 M, EBIT CHF 112.9 M, with EBIT margin ~33%+.
- EPS grew to CHF 6.41; dividend increased 10% to CHF 2.20.
Growth Drivers & Analyst Outlook
- GLP‑1 boom: Autoinjectors sales +49.8%, pump business +81%.
- Forecasts: Earnings +29% p.a., EPS +27%, ROE ~19.8% by 2028; consensus price target ~CHF 430–450 (+6–12%) .
Risks
- Cyclicality & integration: Shift post-divestment, timing of ramping new plants.
- Regulatory & supply-chain: Compliance challenges, medical device approvals, global logistics.
✅ Investment Summary
Ypsomed is a compelling long-term growth play in med‑tech, exposed to secular drivers like GLP‑1 and diabetes care. With strong margins, capital discipline, global footprint, and robust EPS/dividend momentum, it offers well-defined upside, tempered by say timing and regulatory execution risks.