Lavipharm (LAVI) Q3 2025 earnings summary

Executive summary

• Adjusted EBITDA from continuing and discontinued operations rose 11.2% year-over-year to €10.47 million.

• Net profit after taxes dropped to €3.51 million from €9.22 million, due to last year's extraordinary deferred tax asset recognition.

• Consolidated sales before clawback and rebates increased 4.8% to €47.74 million.

Financial highlights

• Adjusted EBITDA from continuing operations grew 2.7% to €9.52 million.

• Gross profit decreased 3.6% to €18.81 million.

• Net sales rose 5.5% to €41.61 million.

• Earnings before tax from continuing operations fell 4.9% to €4.33 million.

• Net debt as of September 30, 2025, was €29.78 million.

Outlook and guidance

• Export sales decline in the first nine months is expected to fully reverse in Q4, with projected export sales of €10.5 million.

• Accelerated growth in domestic prescription drug sales anticipated in Q4, driven by medical cannabis.

• Substantial increase in adjusted EBITDA expected in Q4 compared to both last year and the first nine months of 2025.