Bastide Le Confort Médical (BLC) Q4 2026 TU earnings summary

Executive summary

• Annual revenue for 2025-2026 reached €482.9 million, up 7.6% year-over-year, with organic growth at 7.8%.

• Revenue excluding the impact of the EXPERF sale was €526 million, surpassing the initial target of €510 million.

• The sale of EXPERF on June 1, 2026, led to restated figures for continuing operations.

Financial highlights

• Fourth-quarter revenue was €122.2 million, up 6.4% as reported and 6.5% organically, despite a 4% price cut in the sleep apnea segment.

• Homecare revenue for the year was €201.7 million, up 5.2%; healthcare institutions revenue was €94.3 million, up 10.5%.

• Stores/online revenue reached €107.4 million, up 0.9%, impacted by regulatory changes.

• Respiratory business revenue was €177.1 million, up 10.5% as reported and 11.1% organically.

• Nutrition-Perfusion-Diabetes-Stomatherapy revenue was €104.2 million, up 7.7%, with Diabetes up 20%.

Outlook and guidance

• Recurring operating margin target of around 9% for 2025-2026 is confirmed.

• For 2026-2027, revenue is expected to again surpass €500 million, with specific guidance to be announced in October.

• Sale of EXPERF expected to reduce expenses and improve financial leverage to below 2.5x post-IFRS 16.