France · Delayed Price · Currency is EUR Euroapi Earnings Call Transcripts
Fiscal Year 2026
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The meeting reviewed a challenging year marked by declining revenues, increased losses, and major restructuring. Strategic transformation under the FOCUS-27 plan was accelerated, with a renewed executive team and board, while all resolutions—including compensation and governance changes—were approved.
Fiscal Year 2025
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Net sales declined 7% to EUR 848 million in 2025, with core EBITDA up 31% to EUR 66.2 million and a margin of 7.8%. Portfolio rationalization and cost discipline drove improved profitability, but a 10% sales decrease is expected in 2026 due to continued Sanofi decline and API discontinuations.
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Net sales declined 8.2% year-over-year to EUR 412 million, with core EBITDA margin at 9.6% and a net loss of EUR 28.5 million. H2 is expected to strengthen, driven by HP API sales, CMO activity, and vitamin B12 recovery, while cost discipline and strategic investments continue.
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The AGM reviewed a challenging 2024 with declining revenues and profitability, but highlighted progress on the Focus 27 transformation plan, improved working capital, and strong support from Sanofi. All resolutions were approved, and management reaffirmed its commitment to profitability, ESG, and growth beyond Sanofi.
Fiscal Year 2024
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Net sales fell 10% to EUR 911.9 million in 2024, with core EBITDA margin at 5.5% and a net loss of EUR 130.6 million. Focus 27 plan advanced, with 2025 guidance for steady sales and improved 7-9% EBITDA margin, supported by ongoing cost and portfolio optimization.
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H1 2024 saw a 9.6% drop in net sales and a 23.8% decline in core EBITDA, mainly due to lower Sanofi volumes and Brindisi suspension, but gross margin improved. FOCUS-27 transformation is progressing, with restructuring and financing on track, and full-year guidance confirmed despite ongoing challenges.
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FOCUS-27 will transform operations by discontinuing loss-making APIs, divesting two sites, and focusing on profitable products and CDMO growth. 2024 guidance anticipates lower sales and EBITDA, with significant restructuring and capital investments planned.