Vimian Group (VIMIAN) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 15% YoY to €120.3m, including 11% organic growth; adjusted EBITA increased 14% to €29.2m.

• Organic growth was positive across all four segments, and adjusted EBITA increased in each segment.

• Operating cash flow reached €22.6m; net debt fell to €262.4m and leverage to 2.0x.

Financial highlights

• Q3 EBIT increased to €20.5m from €17.5m; profit for the period was €9.3m versus €6.8m, and diluted EPS was €0.02 versus €0.01.

• Adjusted EBITA margin was 24.3% versus 24.5%; EBIT margin was 17.0% versus 16.8%.

• Net financial items were -€6.9m, including €4.2m financing expense, €2.2m negative contingent-consideration adjustments and €0.5m negative FX impact.

• Tax expense was €4.3m, with a 31% effective rate; contingent-consideration adjustments and other non-deductible expenses affected the rate.

• Nine-month revenue rose 13% to €357.9m and adjusted EBITA increased 11% to €88.1m.

Outlook and guidance

• Management expects sustainable, volume-led growth alongside value-creating M&A; a Capital Markets Day on 24 November 2026 will detail strategy and the 2030 target roadmap.

• FY2026 margin development is expected to be more stable than FY2025; MedTech investments are expected to cause a slight full-year segment margin decline.

• U.S. Orthopedics is expected to maintain low-single-digit Q4 growth under unchanged market conditions; higher growth depends on market improvement in 2027 or later.

• Veterinary Services Q4 margin is expected at 28.5%–29%, in line with its YTD average.

• Diagnostics margins are expected to improve as companion-animal business scales, with a pickup anticipated from 2027 onward.