)
UCB (UCB) investor relations material
UCB H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales grew 35% year-over-year at constant exchange rates, driven by five key growth drivers, with BIMZELX® net sales exceeding €2.2 billion and strong global uptake, especially in the U.S.
Significant pipeline progress included U.S. approval and CHMP positive opinion for Kygevvi, positive phase II for bepranemab in Alzheimer's, and advancement of galvokimig in atopic dermatitis and respiratory indications.
Strategic $5 billion investment announced for a U.S. manufacturing site and expansion of the CMO network to support future BIMZELX® production and innovation.
Fully deleveraged balance sheet, supported by strong cash flow and disciplined cost management.
Specialty and rare disease portfolio (RYSTIGGO, ZILBRYSQ, Fintepla) delivered over €500 million in combined net sales, with expanding patient reach.
Financial highlights
Total revenues reached €7.7 billion, up 26% (29% at constant exchange rates); net sales were €7.4 billion, up 32% (35% at constant exchange rates).
Adjusted EBITDA margin improved to 34% (31.4% excluding one-offs), up from 24% in FY 2024.
Core EPS more than doubled to €9.99, with a tax rate of 14%.
Adjusted gross margin improved to 79.2%, driven by favorable product mix.
Operating expenses were €3.7 billion, up 5% year-over-year.
Outlook and guidance
2026 revenue expected to grow high single to low double digits at constant exchange rates, led by BIMZELX® and other growth drivers.
Adjusted EBITDA growth projected in the high teens to high twenties percent, outpacing revenue growth.
Tax rate expected to rise to around 20%, with foreign exchange potentially impacting growth by -3 ppts on revenue and -7 ppts on EBITDA.
Guidance excludes potential impacts from MFN or tariffs; external environment closely monitored.
Continued investment in five growth drivers, R&D, and expansion of BIMZELX® access.
Next UCB earnings date
Next UCB earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage