Core Insights - Eurobio Scientific reported consolidated results for the first half of fiscal year 2025, showing a revenue increase of 10.4% compared to the same period in 2024, driven by recent acquisitions and a higher share of proprietary products [2][5][7]. Financial Performance - Revenue reached €81.2 million, up from €73.5 million in the first half of 2024, with a comparable growth of €4.5 million (+6.1%) when excluding acquisitions [4][5]. - Adjusted gross margin improved by 14% to €38.2 million, reflecting a gross margin of 47.4%, up from 45.6% in the previous year [4][10]. - EBITDA decreased to €13.2 million from €13.9 million year-over-year, while operating income fell to €10.3 million from €11.2 million [12]. - Net income dropped by 40% to €2.4 million compared to €4 million in the first half of 2024 [13]. Cost Structure - Cost of goods sold increased by 8% to €43 million, while research and development expenses decreased by 27% to €2.1 million [4][11]. - Sales and marketing expenses surged by 52% to €18.1 million, attributed to strengthening sales teams and scope effects from acquisitions [4][11]. - General and administrative expenses remained stable at €7.7 million, including costs related to the transfer of production lines [11]. Cash Flow and Debt - Free cash flow declined to €4.4 million, impacted by changes in working capital and net investment flows [14]. - As of June 30, 2025, the company had cash and cash equivalents of €26.7 million and financial debt of €11.3 million, resulting in net debt of €2.2 million [15]. Strategic Outlook - Eurobio Scientific aims to increase the share of proprietary products to around 50% of its revenue over the next four years, focusing on product development and international expansion [16].

Core Business Growth - Eurobio Scientific reported a revenue increase of 19% to €154.2 million in 2024, compared to €130 million in 2023, with organic growth at 9% [4][5][6] - Proprietary products accounted for 31% of total sales, remaining stable compared to the previous year, while international sales represented 41% of group revenue, up from 38% in 2023 [5][6] Financial Performance - Total operating income rose by 19% to €154.9 million, with a gross margin of 46.6%, down approximately 1% from 2023 due to pressure on margins and challenges faced by some European subsidiaries [4][7] - Adjusted EBITDA was €27.7 million, a slight increase from €27.3 million in 2023, while operating income was stable at €22.1 million [10][11] Cost Management - Research and development expenses decreased to €4.6 million, primarily due to reduced activity in France, while marketing and sales expenses increased by €10.1 million, driven by strengthening sales teams and new acquisitions [8] - General and administrative expenses rose by €1.8 million, attributed to new premises and acquisitions [8] Strategic Developments - The company completed the acquisition of EndoPredict® and Prolaris® in August 2024, generating sales of €3.8 million, although this was a 10% decline compared to 2023 [9] - Eurobio Scientific is focused on strategic priorities including the development of proprietary products, internationalization, and market expansion to enhance growth in sales and margins [16] Cash Flow and Debt Management - Free cash flow for 2024 was €6 million, with cash flow from operations amounting to €16.7 million [12][13] - At the end of December 2024, the company had cash and cash equivalents of €23.1 million and net debt of €3.9 million [15]