Krka (KRK) Q3 2025 earnings summary

Executive summary

• Record 1–9 2025 sales reached €1,534m, up 7% YoY; volume grew 5% and net profit rose 15% to €323.7m.

• Product and service sales were €1,529.1m, with 94% generated outside Slovenia and 96% of product sales from exports.

• Sales increased across all regions except Overseas markets and across product and service groups; prescription pharmaceuticals led the increase.

• Seventeen new products were added, including thirteen prescription pharmaceuticals; the share price rose 54% to €214.00 by 30 September 2025.

Financial highlights

• Revenue was €1,534.0m, up 7% YoY; gross profit increased 8% to €884.9m.

• Operating profit rose 10% to €367.2m; profit before tax increased 17% to €395.5m.

• EBITDA grew 9% to €436.7m; net profit was €323.7m, up 15%, with a 21.1% margin.

• Net financial result was €28.3m, mainly from €34.0m in net foreign exchange gains.

• R&D expenses were €143.7m, or 9.4% of revenue; investments totaled €66.7m, including €48.0m in the controlling company.

Outlook and guidance

• 2025 estimate: sales of products and services of €2,020m, up 6%, net income of €383m, up 8%, and CAPEX of €95m.

• 2026 guidance: sales of products and services of €2,132m, up 6%, net income of €405m, up 6%, and CAPEX of €140m, mainly for production expansion.

• 2026–2030 targets include average annual sales growth of at least 5%, R&D spending of 10% of sales, average annual CAPEX of €150m and EBITDA margin above 25%.

• Dividend target is at least 50% of majority-shareholder net profit.