Biohit (BIOBV) H2 2025 earnings summary

Executive summary

• Revenue for 2025 reached EUR 15.7 million, up 10.1% year-over-year, with strong H2 growth of 20.7% compared to H2/2024.

• Operating profit for 2025 was EUR 2.9 million, with an operating margin of 18.6%.

• Royalty income surged to EUR 5.4 million from EUR 2.8 million, driven by an extended agreement with Hefei.

• Rapid tests sales grew 28.7% year-over-year; GastroPanel sales above minimum volumes rose 96.8%.

• GastroPanel was included in Chile's national clinical guidelines, with pilots underway in other South American countries.

Financial highlights

• EBITDA for 2025 was EUR 3.5 million (22.0% of revenue), up 19.7% year-over-year.

• Profit for the period was EUR 2.7 million, up 6.6% year-over-year.

• Earnings per share (undiluted) were EUR 0.18, up 6.4% year-over-year.

• Cash at year-end was EUR 3.5 million, slightly down from EUR 3.7 million.

• Net cash flow from operating activities was negative at EUR -0.7 million, mainly due to timing of OEM deliveries and increased contract assets.

Outlook and guidance

• 2026 revenue expected at EUR 16.5–17.3 million (5–10% growth), with operating margin at least 10%.

• Guidance is cautious due to slower-than-expected GastroPanel implementations and declining royalty recognition from the Hefei agreement.