bioMérieux (BIM) investor relations material

Executive summary

• Q2 2026 delivered a strong rebound with 5% organic sales growth, offsetting a weak Q1 impacted by low respiratory epidemiology and confirming 2026 guidance.

• H1 2026 organic sales growth was +0.2% to €1,965 million, with CEBIT at €313 million (15.9% margin), down 4.9% organically.

• Free cash flow surged 76% year-over-year to €299 million, driven by efficient cash collection and favorable tax impacts.

• Net income rose 41% year-over-year to €226 million, reflecting the absence of prior year impairment charges.

• The company confirmed 2026 guidance and revised the 2027-2028 outlook downward due to slower market growth and macroeconomic pressures.

Financial highlights

• H1 2026 net sales: €1,965 million (+0.2% organic), impacted by €87 million negative currency effect.

• CEBIT margin at 15.9% of sales, down 100 bps organically; adjusted EPS down 4% organically, -17% reported.

• Gross profit margin declined 70 bps like-for-like to 55.9%, mainly due to unfavorable product mix and higher manufacturing costs.

• Free cash flow reached €299 million, net cash position €236 million at June-end.

• CapEx at 7.1% of sales, focused on manufacturing automation and instrument placements.

Outlook and guidance

• 2026 organic sales growth guidance confirmed at +3% to +5%, CEBIT growth 0%-10%.

• Full-year 2026 currency effect on CEBIT expected at -€40 to -€50 million, mostly absorbed in H1.

• 2027-2028 annual organic sales growth target revised to 3%-6%, with CEBIT growth above sales.

• If Q4 respiratory season matches 2025, expect sales at the lower end of guidance.

• CapEx guidance for 2026 revised down to ~8% of sales.