Biohit (BIOBV) H1 2024 earnings summary

Executive summary

• Revenue grew 14.0% year-over-year to EUR 7.4 million for H1 2024, with international operations accounting for 98.6% of total revenue.

• Operating profit decreased 12.5% to EUR 1.3 million, with an operating margin of 17.8% compared to 23.2% in H1 2023.

• Growth was driven by OEM product sales and offset a temporary dip in GastroPanel sales due to a product improvement and regulatory compliance testing.

• Personnel increased by 11.9% to support growth strategy, with average headcount at 46.

• Balance sheet remains strong with an equity ratio of 76.0% and financial assets of EUR 4.8 million.

Financial highlights

• Revenue: EUR 7.4 million (up 14.0% year-over-year).

• Operative EBITDA: EUR 1.5 million (down 14.7%), 20.9% of revenue.

• EBIT: EUR 1.3 million (down 12.5%), 17.8% of revenue.

• Net profit: EUR 1.2 million (down 10.8%), 16.8% of revenue.

• Earnings per share: EUR 0.08 (down 13.4%).

Outlook and guidance

• 2024 revenue expected at EUR 15.1–15.7 million, with operating profit margin at least 10%.

• Strategic targets for 2024–2028: annual revenue growth of 15–20% and EBIT at least 10% of revenue.