EKF Diagnostics (EKF) H2 2025 earnings summary

Executive summary

• Strategy targets leadership in point-of-care hemoglobin and ketone testing by 2029, with transformation of Life Sciences into a contract development and manufacturing organization.

• Achieved 3% revenue growth to GBP 51.6 million in 2025, with improved profitability and operational focus.

• Expanded commercial teams, completed product portfolio simplification, and initiated capacity increases in Hematology.

• Significant progress in U.S. blood bank market, LATAM expansion, and NGO partnerships in Africa.

• Share buyback program executed, repurchasing nearly 20 million shares (4.4% of business) for GBP 5 million.

Financial highlights

• Revenue increased 3% to GBP 51.6 million compared to 2024.

• Gross margin improved to 51% from 48% in 2024.

• EBITDA reached GBP 12.4 million, meeting targets.

• Cash at year-end was GBP 15.8 million after GBP 5 million spent on buybacks.

• Profit before tax improved; higher tax charge due to German tax provisions.

Outlook and guidance

• 2026 objectives focus on commercial development in strategic markets, operational excellence, and CapEx investment.

• Scheduled product launches in 2027 and 2028, with continued investment in R&D and new product development.

• Life Sciences strategy realignment and relaunch as a value-enhancing CDMO planned for 2026.

• Double-digit BHB growth in the U.S. expected to continue.