Otofarma (OTO) H1 2025 earnings summary

Executive summary

• Pro forma H1 2025 production value was €8.529m, up 20% YoY; pro forma sales were €8.041m, up 19.3%.

• Commercial expansion, pharmacy-network growth and the Odiens optical channel launch accompanied plans for a Milan hub to double production capacity.

Financial highlights

• Consolidated sales revenue was €7.297m and production value €7.778m; reported EBITDA was €644k and EBIT €406k.

• Pro forma adjusted EBITDA was €827k, with a 9.7% margin; adjusted EBIT was €578k, with a 6.8% margin.

• Consolidated adjusted EBITDA was €984k and adjusted EBIT €746k; consolidated net profit was €33k.

• Pro forma results included a €180k net loss; the management letter separately cited a €177k loss on a different basis.

Outlook and guidance

• Management expects H2 turnover growth more than proportional to H1, supported by increased production and sales hires; no numerical H2 guidance was stated.

• Lower service-cost incidence, fewer trade fairs and conferences, and fixed costs spread over higher turnover are expected to support H2 margin recovery.

• H2 priorities include selective spending, containing non-strategic costs, capturing synergies and expanding pharmacy coverage, production capacity and distribution channels.