Faes Farma (FAE) Q2 2025 earnings summary

Executive summary

• Total revenues increased by 12.3% to €307.4 million, reaching or exceeding guidance, with growth across all business areas and segments.

• Pharma revenues rose 9% to €269 million, led by LATAM (+17%), Licences (+13%), and supported by the Edol acquisition.

• Animal Nutrition and Health revenues surged 48% to €38.3 million, driven by ISF business integration.

• Adjusted EBITDA grew 2.5% to €80.5 million, while reported EBITDA declined 6.6% to €73.3 million due to extraordinary and M&A costs.

• Major acquisitions included Laboratorios Edol (completed) and SIFI (contract signed, closing expected Q3 2025), marking a strategic move into ophthalmology.

Financial highlights

• Total income reached €307.4 million (+12.3% YoY); ordinary revenues were €296.2 million (+13.4%).

• Adjusted EBITDA was €80.5 million (+2.5%), reported EBITDA €73.3 million (-6.6%).

• Net profit was €52.2 million, down 10.5% year-over-year due to extraordinary costs.

• Top 3 molecules (Bilastine, Calcifediol, Mesalazine) generated €127.7 million (+16%).

• Cash and equivalents at period end were €103.4 million, up from €64.2 million at year-end 2024.

Outlook and guidance

• Full-year 2025 income expected to grow 8–10%, with adjusted EBITDA guided to increase 3–5%.

• Reported EBITDA for 2025 expected to decline 6–9% due to extraordinary items.

• Strategic plan targets €1 billion in revenue and €240 million in EBITDA by 2030 (CAGR 11–12% and 10–11%, respectively).

• Growth expected to continue, driven by international expansion and integration of recent acquisitions.

• SIFI acquisition expected to close in Q3 2025, further strengthening the ophthalmology portfolio.