Eckert & Ziegler (EUZ) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue was €149.3 million, nearly unchanged year-over-year, with Medical segment growth offsetting weaker product mix in Isotope Products.

• Net profit rose 4.5% to €22.4 million, with EPS up to €0.36, driven by improved Medical margins and positive currency effects.

• Adjusted EBIT declined 5.9% to €33.3 million, mainly due to margin pressure in Isotope Products.

• Growth momentum is driven by lutetium, actinium, and CDMO businesses.

• The company remains confident in achieving full-year guidance, expecting a stronger second half due to anticipated license payments and improved product mix.

Financial highlights

• Revenue for H1 2026 was €149.3 million (+0.4% year-over-year), with underlying growth positive when adjusted for prior-year license deals.

• Radiopharmaceuticals grew 3% year-over-year, or 11% when license-adjusted.

• EBIT adjusted margin was 22% (down from 24%), with Medical segment EBIT margin at 31% and Isotope Products at 13%.

• Net income rose 4.5% to €22.4 million.

• Cash and equivalents at €110.2 million, with loan liabilities reduced to €10 million.

Outlook and guidance

• Full-year 2026 guidance maintained at €320 million revenue and €80 million EBIT adjusted.

• €5 million license payment expected in H2 to support EBIT growth.

• Radiopharmaceutical sales targeted at €160 million for the year, implying strong H2 acceleration.

• Management expects improved product mix and higher order intake in industrial and oil well logging products in H2.

• Underlying growth projected at 9% for revenue and 21% for EBIT adjusted, excluding FX and license effects.