Pharmanutra (PHN) Q3 2025 earnings summary

Executive summary

• Net revenues reached €94.6M, up 13.3% year-over-year, with strong growth in both domestic and foreign markets, including first US sales of about €0.5M.

• EBITDA increased by 2.5% to €24.8M, with a margin of 26% of revenues, despite investments in new business units.

• Net profit rose 6.4% to €14.0M, with EPS at €1.46.

• Significant cash generation from operations (€8M in Q3), turning net financial position positive at €2.3M.

• Maintained leadership in iron supplements and expanded presence in the US, Spain, and China.

Financial highlights

• Net revenues: €94.6M (+13.3% YoY); total revenues: €95.7M (+13.2% YoY).

• EBITDA: €24.8M (+2.5% YoY), margin at 26%.

• Net profit: €14.0M (+6.4% YoY), EPS at €1.46.

• Positive net financial position of €2.3M, improved from -€5.1M at June 30, 2025, and -€5.6M at year-end 2024.

• Operating costs rose 17.5% to €70.9M, reflecting investments in marketing and personnel.

Outlook and guidance

• Continued sales growth expected in Q4, especially in foreign and US markets.

• Ongoing investments in new projects anticipated to modestly reduce profitability.

• Further cash generation expected in the next quarter.