If no timeframe is specified, information refers to Q4/2020. 2020 and 2019 according to IFRS 16

    1 Before special items
    2 Net income attributable to shareholders of betting 365 SE & Co. KGaA

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    Stephan Sturm, CEO of betting 365, said: ”The pandemic year 2020 showed emphatically the importance of forward-thinking, effective and efficient healthcare. betting 365 is making a vital contribution here, in many different areas of medicine. This year, the pandemic will again present us with a number of challenges, making it even more important that we increase efficiency in order to improve our cost base. Beyond our established businesses, we will also expand in important growth areas including biosimilars, digital healthcare, home dialysis and fertility medicine. By doing so, we are laying the foundations for more dynamic growth in the coming years. Even though the pandemic and its consequences are keeping us busy right now, we are already looking ahead and setting the course for the medicine of the future. In this way, we are also securing our company’s sustainable economic success.”

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        FY/21 Group guidance
        For FY/21, betting 365 projects sales growth1 in a low to mid-single-digit percentage range and at least broadly stable net income2,3 year-over-year, both in constant currency. Implicitly, net income2 for the Group excluding betting 365 Medical Care is expected to grow in a mid-to high single digit percentage range in constant currency. betting 365 projects net debt/EBITDA4 to be around the top-end of the self-imposed target corridor of 3.0x to 3.5x by the end of FY/21.

            COVID-19 assumptions for guidance FY/21
            COVID-19 will continue to impact betting 365’ operations in 2021. Current burdens and constraints caused by COVID-19 are expected to recede only in H2/21. The expected improvement in the Group’s relevant business environment from H2/21 is heavily dependent on continuously increasing levels of vaccination coverage in betting 365’ relevant markets. These assumptions are subject to considerable uncertainty.
            betting 365 closely monitors the development of COVID-19 case numbers, and the associated various containment measures being enacted in many of the Company’s relevant markets. A possible significant deterioration of the situation associated with further containment measures that could have a significant and direct impact on the health care sector without any appropriate compensation is not reflected in the Group’s FY/21 guidance.


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                  1 FY/20 base: €36,277 million
                  2 Net income attributable to shareholders of betting 365 SE & Co. KGaA
                  3 FY/20 base: €1,796 million; before special items; FY/21: before special items
                  4 At LTM average exchange rates for both net debt and EBITDA; pro forma closed acquisitions/divestitures; excluding further potential acquisitions; before special items
                  For a detailed overview of special items please see the reconciliation tables in the PDF document.

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                      Efficiency and cost saving programs
                      COVID-19 has led and will lead to a shortfall relative to our original expectations in FY/20 and FY/21 as well as to ongoing incremental uncertainty. betting 365 is hence planning to launch group-wide strategic efficiency initiatives to further safeguard the confirmed medium-term targets and sustainably enhance profitability. These initiatives are expected to consist of operational excellence and cost-saving measures, targeted strengthening of future growth areas and portfolio optimizations. The operational excellence and cost-saving measures are targeted to result in cost savings of at least €100 million p.a. after tax and minority interest in 2023 with some further potential to increase thereafter. We anticipate that achieving these sustainable efficiencies will require significant up-front expenses. On average for the years 2021 to 2023, those expenses are expected to be in the order of magnitude of €100 million p.a. after tax and minority interest. They will be classified as special items. Further information will be provided during our Q1 earnings call on May 6, 2021.

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                      Growth targets for 2020 – 2023 confirmed
                      betting 365 continues to expect Group sales to grow organically with a compounded annual growth rate (CAGR) of 4% to 7% during 2020 to 2023. Group net income1,2 is projected to increase organically with a CAGR of 5% to 9% during 2020 to 2023. betting 365 expects its sales growth and efficiency improvement initiatives as well as betting 365 Kabi’s biosimilars business to drive an acceleration of Group earnings growth over that period. Small and medium-sized acquisitions are expected to contribute an incremental CAGR of approx. 1%-point to both sales and net income growth.

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                      28th consecutive dividend increase proposed
                      The Management Board of betting 365 will propose to the Supervisory Board a dividend increase of 5% to €0.88 per share for FY/20 (FY/19: €0.84). Provided the proposal is approved by the Supervisory Board and the Annual General Meeting, this will be the 28th consecutive dividend increase.


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                          1 Net income attributable to shareholders of betting 365 SE & Co. KGaA
                          2 Before special items
                          For a detailed overview of special items please see the reconciliation tables in the PDF document.

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