Pharmanutra (PHN) H1 2026 earnings summary

Executive summary

• Consolidated sales revenues reached €73M, up 17.9% year-over-year, with strong international expansion and launches of Sidevit® B12 and SiderAL® in new markets, supported by new distribution agreements in France and Switzerland.

• EBITDA rose to €17.5M (24% margin), and net result increased to €9.9M, with EPS at €1.04.

• New Business Units contributed €5M, doubling their share to 6.8% of total revenues and growing 102% year-over-year.

• Achieved ISO13485 certification, AEOF qualification, FDA registration, and entry into the Euronext Tech Leaders segment.

• Filed 2 new patent applications and 7 new trademark registrations.

Financial highlights

• Net revenues reached €73M, up 17.9% year-over-year from €61.8M in H1 2025.

• EBITDA was €17.5M (24% margin), up from €16.4M; margin rises to 30% excluding New Business Units.

• Net result was €9.9M (13.6% of net revenues), up from €9.1M; EPS increased to €1.04 from €0.96.

• Net financial position (NFP) declined to -€2.9M from €11.4M net cash at year-end 2025, mainly due to €11.5M dividend distribution.

• Cash and cash equivalents at period end were €7.2M, down from €18.6M at year-end 2025.

Outlook and guidance

• Further significant revenue growth expected in H2 2026, driven by recurring business and new BUs.

• Profitability on revenues anticipated to remain in line with the previous year.

• Management expresses strong confidence in future growth, supported by solid foundations and growth drivers.