Faes Farma (FAE) Q3 2025 earnings summary

Executive summary

• Total revenues rose 15.5% year-over-year to €454.0M, reaching the high end of guidance, with growth across all business areas and strong contributions from recent M&A activity.

• Pharma revenues increased 13%, led by LATAM (+16%) and Licenses (+17%), with top molecules showing robust performance.

• Adjusted EBITDA grew 3% excluding M&A and one-off costs, while reported EBITDA declined 2.7% due to extraordinary expenses.

• Net profit decreased 7.6% year-over-year, impacted by higher costs from new production plants and M&A integration.

• Strategic acquisitions of Laboratorio Edol and SIFI S.P.A. completed, expanding the international footprint and strengthening the portfolio.

Financial highlights

• Income reached €454.0M (+15.5% year-over-year); pharma revenues €399.5M (+13.4%).

• Adjusted EBITDA was €112.8M (+3.0%), while reported EBITDA was €106.5M (-2.7%).

• Net profit totaled €73.6M, down 7.6% from the previous year.

• Gross margin increased 11.2% to €300.4M.

• Ordinary income from sales grew 16.2% year-over-year.

Outlook and guidance

• Full-year income growth expected at +8–10%, with 9M performance already at +15.5%.

• EBITDA guidance for 2025 is -6% to -9%, with adjusted EBITDA expected to grow 3–5%.