Bastide Le Confort Médical (BLC) H2 2026 earnings summary

Executive summary

• FY2025-26 continuing-operations revenue reached €482.4m, up 7.7% reported and 7.9% organically; recurring operating margin was 9.2%, 20 bps above the 9.0% target.

• Operating free cash flow rose to €38.4m; net financial debt fell €134.7m to €250.9m, while total net profit included €49.7m from discontinued operations.

Financial highlights

• Revenue was €482.4m versus restated €448.1m; EBITDA increased 9.9% to €107.9m, with margin up 50 bps to 22.4%.

• Gross margin was 67.6%; recurring operating profit rose 7.4% to €44.2m and operating profit increased to €38.7m.

• Continuing-operations net profit was €10.0m, up from €2.5m; total net profit was €59.7m and Group-share profit €58.1m.

• Cash flow from operating activities was €106.7m; operating free cash flow reached €38.4m versus €22.4m.

Outlook and guidance

• FY2026-27 revenue target is at least €500m, with recurring operating margin expected to remain at the FY2025-26 level.

• Guidance calls for strong operating free cash flow, further debt reduction and continued cost control; financial expenses are expected to decline by €2m, assuming constant Euribor rates.

• No significant further price adjustments are expected at this stage; no further sleep-apnoea pricing changes are currently anticipated after the 4% CPAP reduction effective April 1, 2026.