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Euroapi
Euroapi (EAPI) investor relations material
Euroapi H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary30 Jul, 2026
Executive summary
Net sales for H1 2026 were €356.5 million, down 13.5% year-over-year, reflecting challenging market conditions, planned product discontinuations, and a portfolio shift toward higher value-added products.
Core EBITDA dropped to €20.7 million (5.8% margin) from €39.5 million (9.6% margin) in H1 2025, with EBITDA at €(43.1) million due to €42.5 million in exceptional employee-related expenses and non-recurring FOCUS-27 costs.
Transformation initiatives progressed, including the divestment agreement for the Brindisi site to Huvepharma and operational streamlining in Germany and France.
The period was marked by €63.8 million in restructuring costs under the FOCUS-27 transformation plan, including personnel-related charges and under-activity costs.
Net income was €(141.5) million, significantly lower than €(28.5) million in H1 2025, impacted by impairments and restructuring costs.
Financial highlights
Net sales declined 13.5% year-over-year to €356.5 million; on a comparable basis, sales were down 11.8%.
Core EBITDA margin decreased to 5.8% from 9.6% year-over-year.
Gross profit was €55.8 million, down from €76.6 million in H1 2025; gross margin declined to 15.7% from 18.6%.
Net debt position at June 2026 was €(37.9) million, compared to a net cash position of €68.2 million at December 2025.
Free cash flow before financing activities was €(103.4) million, versus €(19.9) million in H1 2025.
Outlook and guidance
FY 2026 net sales expected to be in line with initial outlook, representing a decrease of around 10% on a comparative basis.
FY 2026 Core EBITDA margin now expected to be around 6%, reflecting adverse FX impacts, particularly from the Hungarian Forint.
Cost discipline and commercial execution remain key priorities for the next phase of development.
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Latest events from Euroapi
- All resolutions passed as board and executive changes, Focus-27 strategy, and pay policies were approved.EAPI
AGM 2026 - Core EBITDA margin rose to 7.8% in 2025 despite a 7% sales drop and ongoing net losses.EAPIH2 2025
- Lock-up extended to 2026; 2025 sales outlook lowered, EBITDA margin target maintained.EAPITrading Update
- Net sales fell 8.2% and Core EBITDA margin dropped to 9.6%, with improved net loss.EAPIH1 2025
- Net sales fell 9.6% and net loss reached €34.8 million as transformation advanced.EAPIH1 2024
- Transformation targets €75–80M incremental EBITDA by 2027, with €200M hybrid bond support.EAPIInvestor Update
- All AGM resolutions passed as new leadership and strategic focus drive transformation and growth.EAPIAGM 2025
- 2024 sales fell 10%, but 2025 targets margin recovery and positive cash flow.EAPIH2 2024
Next Euroapi earnings date
H2 20263 Mar, 2027
Euroapi
Next Euroapi earnings date
H2 20263 Mar, 2027
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Frequently asked questions
Euroapi S.A., operating under the brand EUROAPI, is a global leader in the production of active pharmaceutical ingredients (APIs). The company boasts an extensive portfolio of over 200 products, serving the healthcare industry by developing, manufacturing, and distributing APIs and intermediates. These ingredients are crucial for the formulation of medicines intended for both human and veterinary use, catering to a broad spectrum of therapeutic areas including small molecules, lipids, microbial fermentation, and more. EUROAPI's offerings also encompass Contract Development and Manufacturing Organization (CDMO) services. The company is headquartered in Paris, France, and its shares are listed on the Euronext Paris stock exchange.