Modern Dental Group (3600) H1 2026 earnings summary

Executive summary

• Record H1 2026 revenue of HK$2,032.5m (+10.8% YoY), EBITDA of HK$560.7m (+22.8%) and net profit of HK$377.6m (+30.8%), supported by digitalization and operational efficiency.

• Digital solution cases reached 627,773, up 29.2% YoY, reflecting adoption of intraoral scanners and digital workflows.

• Stronger results in Europe and Australia and improved geographic mix contributed to margin expansion; North America remained challenged.

• Results benefited from foreign-currency appreciation against HKD; trade and macroeconomic uncertainties persist.

Financial highlights

• Revenue was HK$2,032.5m (+10.8% YoY); gross profit rose 17.4% to HK$1,180.9m and gross margin increased to 58.1% from 54.8%.

• EBITDA rose 22.8% to HK$560.7m; adjusted EBITDA was HK$566.1m (+23.7%), with an adjusted margin of 27.9%.

• Net profit increased 30.8% to HK$377.6m; net profit margin was 18.6%, and basic EPS rose 31.9% to HK40.07 cents.

• Interim dividend was HK14.0 cents per share, up from HK10.7 cents in H1 2025.

Outlook and guidance

• Geopolitical and macroeconomic uncertainties persist; diversified production and global distribution support resilience.

• Priorities include digital workflows, AI, automation, R&D, scanner partnerships, proprietary solutions and customer-facing platforms.

• Growth plans include TrioClear, education-center expansion, capacity investment and selective acquisitions, JVs and partnerships.