Faes Farma (FAE) Q3 2025 earnings summary

Executive summary

• Total revenues for the nine months ended 2025 increased by 15.5% year-over-year to €454.0M, surpassing guidance, with organic growth of 10.6% excluding M&A activity.

• Pharma revenues rose 13% to €399.5M, led by strong performance in LATAM (+16%) and Licenses (+17%).

• Animal Nutrition revenues surged 48% to €57.8M, driven by ISF business and the new Huesca plant.

• Strategic molecules Bilastine, Calcifediol, and Mesalazine saw combined revenue growth of over 15%.

• Integration of Laboratorio Edol (June) and SIFI S.P.A. (September) is advancing, supporting the 2025–2030 Strategic Plan.

Financial highlights

• Adjusted EBITDA reached €112.8M (+3%), in line with expectations and excluding extraordinary costs and recent acquisitions.

• Reported EBITDA was €106.5M (-2.7%), exceeding the most positive guidance range.

• Net profit was €73.6M, down 7.6% year-over-year, reflecting higher costs and depreciation.

• Gross margin improved by 11.2% to €300.4M.

Outlook and guidance

• Full-year 2025 guidance targets income growth of 8–10% and adjusted EBITDA growth of 3–5%.

• The company is progressing towards 2025–2030 targets of €1B in revenue and €240M in EBITDA.

• EBITDA is expected to decline by 6–9% for the year, mainly due to integration and plant-related costs.