Bioretec (BRETEC) investor relations material

Executive summary

• Net sales for Q1 2026 were EUR 1,220 thousand, down 12.6% year-over-year, but with strong growth in the U.S. (449%) and Europe (203.3%).

• Adjusted sales margin improved to 70.1% from 56.7% year-over-year, reflecting a shift to industry-standard reporting.

• EBITDA was EUR -1,375 thousand and net loss for the period was EUR -1,371 thousand, both slightly worse than the prior year.

• Commercial reset and expanded distribution channels have reduced revenue concentration risk and improved resilience.

Financial highlights

• Net sales declined 12.6% year-over-year to EUR 1,220 thousand.

• Adjusted sales margin rose to 70.1% of net sales, up from 56.7% a year ago.

• EBITDA was EUR -1,375 thousand, EBIT EUR -1,435 thousand, and net loss EUR -1,371 thousand.

• R&D expenditure was 47.3% of net sales, up from 45.7% year-over-year.

• Cash and cash equivalents at period end were EUR 1,880 thousand, down 57.5% year-over-year.

Outlook and guidance

• Focus remains on commercial growth, operational excellence, and advancing the near-term product pipeline.

• Strengthened financial position post-rights issue supports execution of the 2026-2028 strategy.