Medacta Group (MOVE) Q2 2026 TU earnings summary

Executive summary

• H1 2026 revenue reached €368 million, up 9.7% in constant currency and 7.0% in EUR, outperforming the market across all geographies and business lines.

• Major expansion projects included completion of manufacturing in Ticino, Switzerland, and land acquisition in Tennessee, US, for new capacity.

• Growth was driven by innovation, surgeon education, and sales force expansion, resulting in higher volumes from new surgeons.

• Strategic investments included a new automated warehouse in Italy and up to $85 million investment planned for US manufacturing.

Financial highlights

• H1 2026 revenue grew 9.7% in constant currency to €368.2 million, up from €344.1 million in H1 2025.

• Regional growth: EMEA 10.0% (€185M), North America 6.6% (€102M), Asia Pacific 13.1% (€73M), Latin America 16.4% (€8M).

• Product line growth: Hip 8.1% (€145M), Knee 10.8% (€154M), Extremities 15.9% (€40M), Spine 4.5% (€29M).

• Extremities and sports medicine segments delivered more than 2x market growth.

Outlook and guidance

• FY 2026 revenue growth targeted at 10–14% in constant currency, with adjusted EBITDA margin expansion of around 50bps versus prior year (27.9%).

• Mid-term (2024–2027E) revenue CAGR expected between 12–15%, with gradual adjusted EBITDA margin improvement.

• H2 2026 expected to accelerate, driven by new product launches, U.S. market recovery, and India market entry.