Otofarma (OTO) H1 2026 earnings summary

Executive summary

• HY26 sales revenue rose 19.1% to €8.692m; comparisons were affected by changes in consolidation scope.

• Net loss was €517k, versus €33k profit in HY25; operating costs and impairment charges weighed on results.

• Investment in sales and distribution capacity supported channel expansion but temporarily compressed operating margins.

Financial highlights

• Value of Production was €9.596m; reported EBITDA was €497k and adjusted EBITDA was €686k.

• EBIT was a €236k loss and adjusted EBIT a €37k loss; EBT was a €342k loss.

• Service costs rose 23.6% to €5.177m and personnel costs increased 94.9% to €1.760m, partly reflecting commercial consulting for sales-network growth.

• Depreciation, amortization and write-downs totaled €0.73m, including €0.2m of goodwill impairment and €0.15m of receivables.

Outlook and guidance

• H2 priorities include improving sales-network productivity, growing active pharmacies, developing the optical channel, increasing volumes and improving product mix.

• Focus on monetizing prior investments, increasing operating efficiency and progressively normalizing margins while maintaining financial discipline.

• A Business Plan with strategic priorities was being prepared for presentation to the Board and financial community.

• Market growth drivers include aging demographics, low hearing-aid penetration, greater awareness of hearing loss, tele-audiology and pharmacy synergies.