EKF Diagnostics (EKF) Trading Update summary

Financial performance

• H1 2025 revenues were £25.2m, matching H1 2024, with improved gross margins at 50% versus 48% last year.

• Adjusted EBITDA grew 9% year-on-year in constant currency, with revenues up 2%.

• Cash balances rose to £16.9m as of 30 June 2025, after share buybacks and ongoing investment.

• No bank borrowings, maintaining a strong financial position.

Operational highlights

• Hematology revenue increased 8% and B-HB revenue rose 12% year-on-year.

• Diabetes sales stabilized, providing steady performance.

• Contract manufacturing and fermentation pipeline includes several high-value prospects in advanced discussions.

Outlook and guidance

• On track to deliver FY 2025 revenue and adjusted EBITDA growth in line with market expectations.

• Consensus forecasts for FY 2025 are £53.6m revenue and £12.4m adjusted EBITDA.

• Five-year strategic plan implementation continues as planned.

• H1 2025 unaudited results to be announced on 16 September 2025.