Pharmanutra (PHN) H2 2025 earnings summary

Executive summary

• Achieved solid organic growth in revenues (+14%) and EBITDA (+10.2%) year-over-year, with new business units contributing about 20% of total revenue growth.

• Operating activities generated €19.5 million in cash, and net financial position improved to €11.4 million net cash from €5.4 million.

• International expansion continued, with significant revenue growth in China (€3.2M) and the US (€1.3M).

• Sidevit B12 marked the best product launch in company history; Sucrosomial Iron® cited in WHO guidelines.

Financial highlights

• Net sales revenues reached €131.7M (+14% YoY); EBITDA was €34.2M (+10% YoY), with a 26% margin.

• Net result was €20M (15.1% of net revenues), up from €16.6M in FY 2024.

• EPS increased to €2.09 from €1.73; proposed dividend of €1.20 per share (up from €1.00).

• Revenues from foreign markets grew 23.6%, while domestic market revenues rose 8.6%.

• Akern contributed €6.8M in net revenues (+15.1%), about 5.2% of group total.

Segment performance

• Sideral® products accounted for 69.7% of total revenues and 94% of foreign market sales.

• New business units generated €5.9M in revenues (+117% YoY), representing 4.5% of total.

• Recurring business revenues were €125.8M (+11.5% YoY); new business revenues grew sharply in both Italy and abroad.