OrbusNeich Medical (6929) H1 2026 earnings summary

Executive summary

• H1 2026 revenue rose 18.1% YoY to US$98.707m; gross profit increased 21.0% to US$67.660m, while profit attributable to owners rose 9.0% to US$21.569m.

• Growth spanned all reported geographic markets, supported by core products, newer launches, OEM sales and third-party product revenue.

• First interim dividend of HK8 cents per share declared; cash and bank balances were US$224.3m at June 30, 2026.

Financial highlights

• Revenue was US$98.707m, cost of sales US$31.047m and gross profit US$67.660m, up 18.1%, 12.3% and 21.0%, respectively.

• Operating profit was US$21.195m versus US$16.833m; profit before tax rose 16.5% to US$24.208m. Basic EPS was US2.62 cents and diluted EPS US2.61 cents.

• Profit attributable to owners increased 9.0% to US$21.569m; adjusted core operating profit rose 20.1% to US$18.144m.

• Net cash from operating activities was US$19.4m; period-end cash and cash equivalents were US$70.1m, while cash and bank balances including deposits were US$224.3m.

Outlook and guidance

• Near-term growth expected from eucatech AG and Scoreflex QUAD sales and faster commercialization of third-party products, including IVUS.

• Coronary drug-coated balloon trial enrollment began in July 2026; completion is expected in ~16 months, with Japan launch targeted for 2030 and China studies planned for H2 2026.

• Hangzhou site expected to receive final acceptance in September 2026 and become operational by end-2027; an Indonesian production site is planned, with investment estimated at US$2m.

• TricValve China trial enrollment is expected to finish by end-2026; Singapore approval in May 2026 marked overseas progress.