BioGaia (BIOG) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 reached SEK 440.9 million, up 12% year-over-year excluding currency effects, with strong growth in both Pediatrics and Adult Health segments.

• EBIT margin improved to 30%, with adjusted EBIT margin at 33% for the quarter.

• Operating profit rose 22% to SEK 132.1 million; adjusted operating profit increased 32% to SEK 143.4 million.

• Growth was driven by product launches, scientific advancements, and robust performance in EMEA and Americas, offsetting APAC declines.

• Year-to-date net sales were SEK 813.4 million, up 13% excluding currency effects.

Financial highlights

• Q2 2026 net sales: SEK 440.9 million (up 9% including FX); H1 2026 net sales: SEK 813.4 million (up 6% including FX).

• Q2 operating profit: SEK 132.1 million (up 22%); adjusted operating profit: SEK 143.4 million (up 32%).

• Q2 profit after tax: SEK 103.2 million (up 17%); Q2 EPS: SEK 1.02 (up from 0.87).

• Gross margin stable at 73% for Q2; H1 gross margin at 72%.

• Cash and cash equivalents at June 30, 2026: SEK 446.3 million.

Outlook and guidance

• Expectation for China distributor orders to resume in Q3 and increase further in Q4, with Q3 sales in China anticipated to be up year-over-year.

• Long-term target: operating margin of at least 34% with continued growth and increased investments.

• Dividend policy: 50% of profit after tax, with potential extra dividends of 50–100% if cash flows allow.

• Investments in manufacturing capacity to continue, with CapEx for the year estimated at SEK 30–40 million.

• Commitment to keeping total OpEx flat for the year despite increased sales and marketing in direct markets.