M1 Kliniken (M12) Q1 2026 earnings summary

Executive summary

• Completed strategic refocusing on the high-margin Beauty business after selling HAEMATO Pharm GmbH, fully aligning the portfolio with aesthetic medicine.

• Beauty segment continues as the main growth and earnings driver, supported by operational efficiency and expanded medical capacity.

Financial highlights

• Beauty segment revenue increased by 5.7% to EUR 27.1 million compared to Q1 2025.

• Beauty segment EBIT rose by 37.6% to EUR 9.2 million, with EBIT margin improving to 33.9% from 26.0% year-over-year.

• Group revenue declined to EUR 46.8 million from EUR 92.7 million year-over-year due to the sale of HAEMATO Pharm GmbH.

• Group EBIT was EUR 5.0 million, down from EUR 8.8 million in Q1 2025.

Outlook and guidance

• Plans to expand clinics in Germany and internationally, aiming for Beauty segment revenue of EUR 200–300 million by 2029.

• Targeting a sustainable EBIT margin of at least 20% for the Beauty segment.

• Strategic goal to establish M1 Med Beauty as the world's leading brand for aesthetic medicine.