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Werfen Presentacion

President’s letter

Marc Rubiralta

Dear All,

I feel very privileged to have been a member of the Werfen team in 2020. With humility, passion, dedication, and teamwork our 5,501 employees gave their all, every day, to support healthcare professionals on the frontline of the worst pandemic in recent history.

The last 16 months have been tremendously challenging for the world and its healthcare systems. COVID-19 unquestionably pushed both to their limits. Throughout, we have been playing a key role, every single day, providing specialized diagnostic solutions which save lives.

The virus impacted every Werfen department, in every location. To continuously put forth our best effort -- these many months -- we had to repeatedly reinvent ourselves. I hope our spirit of collaboration and steadfast attitude are evident to you as you read our Annual Report.

Our success was hard-won. It was thanks to the Herculean efforts of every Werfen employee, worldwide, as well as 55 years of solid investment and innovation. We navigated the turmoil of 2020 and emerged stronger than ever.

We are proud of our financial results and even prouder of the key role Werfen played in intensive care units, clinics, hospitals and laboratories around the world.

To strengthen our organization and ensure that it becomes more dynamic, connected, and agile, we have decided to unify under the single brand name of Werfen. After many years, we feel the time is right to introduce a structural change and begin operating as One Company under the leadership of Carlos Pascual. To successfully achieve the goals of this transition, our One Team culture will be more important than ever. We will leverage our team orientation and spirit of cross collaboration.

We know that to be successful we must rely on the best talent the market has to offer. The challenges and uncertainties we faced in 2020 were an incentive, not a deterrent to welcoming 192 new members to our team; all of whom have a passion for innovation and enduring entrepreneurial spirit. Capital investments, which have increased every year, topped €230 million in 2020; of which €106 million was earmarked for R&D. Despite the numerous challenges, projects moved at a solid pace and our development pipeline looks stronger than ever. Finally, we are actively pursuing new opportunities to enhance our current areas of specialty, and also exploring new disciplines to expand our portfolio of diagnostic specializations.

In closing, it is with sincere gratitude that I thank the entire Werfen team for its outstanding efforts and ongoing commitment to our company and society. 2020 will be remembered for many things, but let’s not forget how we all came together to give our very best every day with humility, innovation, and passion for every patient.

Sincerely,

Marc Rubiralta

President

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