Avantor Inc 2025年度报告

[THIS PAGE INTENTIONALLY LEFT BLANK] Avantor2025performance snapshot We serve customers in 180 countries across three end markets: Biopharma &Healthcare Advanced Technologies& Applied Materials Education &Government FULL YEAR$6.55BReported revenue $496MFree cash flow2 Bioscience Production Laboratory Solutions $2,153MReported revenue $4,400MReported revenue A message toour stockholders Emmanuel Ligner President and Chief Executive Officer To our stockholders, customers and colleagues: We have a significant opportunity ahead of us.Thiscontinues to be a compelling industry supported bystrong secular tailwinds, and we have confidence in thelong-term trajectory of our end markets. With cutting-edge science and technology advancing ata historically rapid pace, Avantor’s role in empoweringthe world’s disruptors and innovators has never beenmore important. We are proud to stand as a partnerto companies in the life sciences and advancedtechnologies industries, and a catalyst for innovationthat contributes to a better, healthier world. In 2026, we are single-mindedly focused on strengtheningour platform through our Revival program, which welaunched last October, to drive better top- and bottom-lineperformance. Capitalizing on Avantor’s compelling opportunities Five pillars to drive meaningful performance improvement In the months since my appointment as Avantor’sChief Executive Officer in August of 2025, I have beenenergized and invigorated by the countless ways ourcompany sets science in motion. We are stewards ofmany of the premier brands in scientific and laboratoryproduction, and these brands will serve as the foundationof our program to accelerate value creation. Revival centers on five key pillars that will drive meaningfulperformance improvements across our business. Evolving our go-to-market strategyto ensure thateach business line, product and service reaches theright customers. We are embracing VWR, Avantor’sleading distribution channel, and will continue toelevate our key product and channel brands goingforward. Our leadership team has listened carefully to ourstakeholders, including stockholders, customers,suppliers, and employees. Two consistent themes haveemerged across our conversations: Strategically investingin our manufacturing andsupply chain organization. We have launched acomprehensive manufacturing improvement programto remove costs, improve the throughput and quality ofour facilities, and simplify our supply chain. Customers value the unique capabilities Avantordelivers to them.They continue to place their trustin our ability to support their work with our leadingbrands. We serve 300,000 customer locationsglobally, and our brands are used every day —embedded in every stage of our customers’ activities. Optimizing our portfolioto focus our operating modelaround our core distribution and product businesses. "We are single-mindedlyfocused on strengtheningour platform through ourRevival program, which welaunched last October, to drivebetter top- and bottom-lineperformance." Simplifying processesacross the organization todrive net cost savings. We are also establishing newoperating norms that will better align priorities acrossour organization. to deliver. We strive to exceed our customers’ expectations.And we seek to be worthy of the trust our investors place inus. Our board, our management team and our organizationare committed to the execution of this strategy, and welook forward to sharing our progress with you. Strengthening our talentat Avantor and improvingaccountability. For example, last quarter, weannounced the appointment of Mary Blenn as COOand new roles leading our Digital and Quality /Regulatory efforts – leadership changes that weexpect will strengthen execution across the business. Thank you for your continued support of Avantor. Together,we are setting science in motion and driving innovationacross the life sciences and advanced technologyindustries. Our role is to empower progress, which we doevery day in hundreds of thousands of customer locationsacross the globe. We are privileged to partner with theinnovators, pioneers and disruptors working tirelessly tocreate a better world. Our focus for 2026 We are acting with urgency to advance the Revivalprogram and drive profitable top-line growth across thebusiness. We know that the market opportunity is there — we need Forward-Looking Statements Non-GAAP Financial Measures See “Cautionary factors regarding forward-looking statements” and “Item 1A:Risk Factors” in the enclosed Annual Report on Form 10-K for a discussion of risksand uncertainties relating to the forward-looking statements contained herein.Such statements speak only as of the date of this Annual Report and, exceptto the extent required by applicable law, the Company does not assume anyobligation to update or revise any forward-looking statement, whether as aresult of new information, future events or otherwise. As appropriate, we sup