NEUCA (NEU) Q1 2026 earnings summary

Executive summary

• Group revenues rose 5.7% year-over-year to PLN 3.56 bn in Q1 2026, with market share at 28.7% overall and 38.0% in independent pharmacies.

• Net profit attributable to shareholders increased 41.3% year-over-year to PLN 68.3 m, driven by improved financial revenues and positive exchange rate effects.

• EBITDA rose 16.7% year-over-year to PLN 129.0 m, with all major business segments contributing to growth, especially pharmaceutical production and medical care.

• Customer satisfaction improved, with Net Promoter Score up 3 points to 70.

• All major business segments, except clinical trials, reported revenue and operating profit growth.

Financial highlights

• Gross profit on sales increased 9.5% year-over-year to PLN 428.0 m, with margin rising to 12.0%.

• Operating profit rose 22.0% year-over-year to PLN 96.7 m, with an operating margin of 2.72%.

• Medical Operator segment revenues grew 20.0% to PLN 148.2 m, with EBITDA up 191.0% to PLN 15.6 m.

• Insurance segment revenues rose 10.1% to PLN 56.7 m, with operating profit up 362% to PLN 3.4 m.

• Wholesale distribution revenues increased 5.3% to PLN 3,085.4 m; operating profit up 1.3%.

Outlook and guidance

• Dividend per share recommended at PLN 17.80, continuing a CAGR of 11.2% since 2005.

• Management expects slight market revival based on April's preliminary results, with ongoing focus on digital health, e-commerce, and clinical trials.

• No official financial forecasts for 2026 were published.