Biohit (BIOBV) H2 2024 earnings summary

Executive summary

• Revenue increased by 9.2% year-over-year to EUR 14.3 million, with operating profit up 40.1% to EUR 2.6 million and operating margin rising to 17.9% from 14.0% in 2023.

• Profitability improved, driven by higher-margin in-house production in H2 and additional sales to existing customers.

• International operations accounted for 98.5% of total revenue, with significant sales growth in Asia (+13.3%) and other countries (+25.6%).

• Major developments included European distribution rights for Biomedal's gluten tests and the launch of the patented FAEX sample tube.

• Cash at period end was EUR 3.7 million, and the equity ratio improved to 78.6% from 73.0% year-over-year.

Financial highlights

• H2 2024 revenue grew 4.6% to EUR 6.9 million; operative EBITDA rose 152.6% to EUR 1.5 million.

• Full-year EBITDA was EUR 2.9 million (+32.4%), and operative EBITDA reached EUR 3.0 million (+25%).

• Earnings per share increased 38% to EUR 0.17 (undiluted and diluted).

• Cash flow from operating activities was EUR 0.6 million for the year, with EUR 2.1 million generated in H2.

• Gross investments totaled EUR 0.4 million, mainly in R&D and product development.

Outlook and guidance

• 2025 revenue expected to rise 10–20% to EUR 15.7–17.1 million, with operating profit margin guidance of 10–20%.

• Growth risks remain in the Middle East due to ongoing payment and delivery challenges; guidance assumes no recovery in sales volumes there in H1 2025.