Krka (KRK) Q3 2026 earnings summary

Executive summary

• Jan–Sep 2026 revenue rose 8% to EUR 1,660.0m; EBIT increased 24% to EUR 455.5m and net profit rose 13% to EUR 364.2m.

• Sales outside Slovenia represented 94% of product and service sales; East Europe was the largest region at 36.7% of total sales.

• Growth across five of six regions, improved product mix and operating efficiency supported higher profitability; full-year 2026 estimates were raised.

Financial highlights

• Revenue was EUR 1,660.0m, up 8%; product and service sales were EUR 1,652.8m, also up 8%.

• Gross profit rose 14% to EUR 1,009.9m; operating expenses increased 3% to EUR 1,208.8m.

• EBITDA increased 21% to EUR 527.9m; EBIT rose 24% to EUR 455.5m; net profit increased 13% to EUR 364.2m.

• Operating cash flow was EUR 363.1m, versus EUR 382.1m a year earlier; closing cash and cash equivalents were EUR 336.2m.

Outlook and guidance

• FY2026 revenue is estimated at EUR 2,179m, up 7%; net profit is forecast at EUR 439m, up 9% and EUR 34m above plan; planned investment is just under EUR 115m.

• 2027 revenue is planned at EUR 2,308m, up 6%; net profit at EUR 474m, up 8%; investment at EUR 141m, primarily for production and infrastructure expansion.

• Long-term objectives target average annual sales growth of at least 5% and an EBITDA margin of ~25%, supported by R&D, capacity and portfolio investment.

• Q4 is expected to grow year over year, but less strongly than the first nine months, partly due to wholesaler inventory optimization; ruble movements may affect results. Q1 2027 is expected to be strong.