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Eurobio Scientific: Results for the first semester of fiscal year 2026
RESULTS FOR THE FIRST SEMESTER OF FISCAL YEAR 2026
- Revenue up 4.5% to 84.5 M€
- Proprietary products account for 37% of revenue
- 46% of revenue generated outside France
- Free cash flow of €4 million after investments
- Net debt of €147.4 million, including the EB Development shareholder loan
- Acquisition of CareDx’s Lab Solutions business finalized on June 30, 2026
Paris, September 24, 2026 – 17h40 - Eurobio Scientific (FR0013240934, ALERS), a leading French group in in vitro medical diagnostics and life sciences, today presents its consolidated results as of June 30, 2026, prepared in accordance with French standards and approved by the company's Board of Directors at its meeting on September 24, 2026.
Eurobio Scientific’s results as of June 30, 2026 show growth in business activity. Revenue reached €84.5 million, up 4.5%, driven by recent acquisitions and growth in proprietary products. EBITDA stood at €15.8 million, and net income reached €4.7 million, compared to €2.4 million in the first half of 2025.
| In €m | June 30, 2026 | June 30, 2025 | Change | |
| Revenue | 84.5 | 80.8 | +5% | |
| Cost of goods sold | (44.4) | (42.9) | +3% | |
| Gross margin | 40.1 | 37.8 | +6% | |
| Gross margin rate | 47.5% | 47.3% | +0.2 pt | |
| Sales and Marketing expenses | (16.6) | (18.1) | -8% | |
| General and administrative expenses | (8.4) | (7.7) | +9% | |
| Other operating income and expenses | (4.8) | (4.3) | +12% | |
| Of which Research and Development expenses | (2.4) | (2.2) | +9% | |
| Amortization of goodwill | (1.9) | (1.9) | - | |
| Operating income | 8.5 | 5.8 | +45% | |
| Amortization of intangible assets arising from the PPA | (2.4) | (2.6) | - | |
| Amortization of other intangible assets | (3.2) | (2.9) | ||
| EBITDA | 15.8 | 13.2 | +20% | |
| Net financial income | (1.2) | (2.1) | -43% | |
| Net exceptional income | - | - | - | |
| Taxes | (2.5) | (1.4) | +76% | |
| Net income | 4.7 | 2.4 | +96% | |
| June 30, 2026 | Dec. 31, 2025 | |||
| Cash | 26.3 | 20.7 | ||
| Financial debt excluding finance leases | (9.0) | (10.1) | ||
| EB Development current account | (164.7) | (12.4) | ||
| Shareholders' equity | 191.4 | 183.9 |
Business Performance
Eurobio Scientific reported revenue of €84.5 million for the first half of 2026, compared to €80.8 million in the first half of 2025, representing an increase of €3.6 million (+4.5%).
On a comparable pro forma basis—that is, excluding the impact of changes in scope resulting from acquisitions—revenue remained stable.
The impact of changes in scope primarily relates to the inclusion of the acquisition in Italy of the Life Sciences unit of Voden Medical Instruments Spa, which generated revenue of €3.8 million during the period.
Revenue from proprietary products totaled €31.3 million as of June 30, 2026, up 10% compared to the first half of 2025. Excluding the impact of changes in the scope of consolidation, growth stood at 7%. Proprietary products account for approximately 37% of the Group’s revenue, up one percentage point, thanks in particular to GenDx’s contribution in the field of transplantation and the product lines in infectious diseases and quality control. Revenue from distributed products reached €53.2 million, up 2%. Excluding changes in scope, it declined by 5%, primarily due to the end of tenders awarded to Eurobio Scientific for One Lambda products.
Internationally, revenue generated in Europe (excluding France), the United States, and Australia totaled €39.1 million, representing 46% of the Group’s revenue, compared to €32.8 million and 41% in the first half of 2025.
Information on Seegene
Eurobio Scientific reminds that it has been in partnership with the South Korean company Seegene since 2011 under a distribution agreement that generated approximately €48 million in revenue for fiscal year 2025 and €25.6 million as of June 30, 2026, representing a 12% increase compared to the first half of 2025.
As previously indicated, Seegene has expressed its desire to enter the French market directly effective January 1, 2027. The distribution agreement provides for Eurobio Scientific, with Seegene’s consent, to fulfill its private commercial contracts entered into prior to the distribution agreement’s expiration date for a maximum period of 3 years, as well as its public contracts for the duration of the awarded tenders.
The parties are continuing discussions to define the terms of this transition in accordance with the contractual provisions and applicable regulations. Eurobio Scientific reaffirms its strong commitment to continuing to serve its customers with high-quality products and services.
Changes in Operating Income and Net Income
The gross margin rate stood at 47.5%, up slightly from the first half of 2025 (47.3%), primarily due to the increase in the share of proprietary products in the revenue mix.
Operating expenses totaled €29.7 million, down €0.4 million compared to the first half of 2025 (-1.3%), and represented 35.1% of revenue, compared to 37.2% a year earlier.
Research and Development expenses totaled €2.4 million, compared to €2.2 million.
Marketing and sales expenses decreased by €1.6 million to €16.5 million, primarily due to the reorganization of the EndoPredict® and Prolaris® oncology sales activities that took place in the first half of 2025.
General and administrative expenses totaled €8.4 million, compared to €7.7 million.
Consequently, as of June 30, 2026, EBITDA reached €15.8 million, compared to €13.2 million as of June 30, 2025. Operating income after amortization and impairment of goodwill amounted to €8.5 million, compared to €5.8 million as of June 30, 2025.
Net financial income was negative at -€1.2 million, compared to -€2.1 million in the first half of 2025, primarily due to interest payments on the financial debt owed to EB Development. Extraordinary income was zero due to changes in accounting standards.
Net income thus totaled €4.7 million as of June 30, 2026, compared to €2.4 million as of June 30, 2025.
Free cash-flow of €4.0 million
The Group generated net operating cash flow of €7.5 million for the half-year, compared with €5.4 million in the first half of 2025. After €3.5 million in capital expenditures net of disposals, free cash flow before acquisitions amounted to approximately €4.0 million. The change in working capital had a negative impact of €5.0 million.
As of the end of June 2026, Eurobio Scientific had gross cash of €26.3 million. Loans and financial debt totaled €15.0 million, including approximately €4.8 million in finance leases, resulting in positive net cash of €17.3 million, excluding financing received from EB Development, which is classified as other liabilities.
The funding received from EB Development totaled €164.7 million, including €154.4 million received in June 2026 to finance the acquisition of CareDx’s Lab Solutions business.
Acquisition of CareDx’s Lab Solutions Business
On June 30, 2026, Eurobio Scientific completed the acquisition of CareDx’s Lab Solutions business, comprising the operations, products, technologies, and related assets primarily dedicated to transplant diagnostics. The transaction notably includes the AlloSeq® portfolio, designed specifically for HLA typing and chimerism monitoring, the associated software solutions, the QTYPE® product line, and other laboratory diagnostic assets transferred as part of the transaction. The corresponding assets and liabilities have been consolidated into the financial statements as of June 30, 2026; the acquisition therefore did not contribute to revenue or earnings for the first half of 2026.
Outlook and Proposed Public Tender Offer
Eurobio Scientific has a policy of not disclosing targets for the current fiscal year. In the medium term, the Group is pursuing its strategic priorities: developing proprietary products, expanding internationally, and entering new markets. In particular, the acquisition of Lab Solutions from CareDx strengthens its international position in transplant diagnostics.
On September 16, 2026, EB Development, the majority shareholder of Eurobio Scientific, announced its intention to file a voluntary tender offer followed by a mandatory tender offer for the Eurobio Scientific shares it does not yet hold, at a proposed price of €25.30 per share. On May 19, 20251, EB Development had declared it individually exceeded the thresholds of 90% of the Company’s share capital and voting rights and held, directly and by assimilation, 90.01% of Eurobio Scientific’s share capital and theoretical voting rights. Following the cancellation of 180,592 treasury shares decided on September 16, 2026, EB Development now directly holds 9,075,433 shares, representing 90.14% of the share capital and voting rights.
Upon the recommendation of the ad hoc committee established by the Company’s Board of Directors and composed of a majority of independent directors in accordance with the provisions of Article 261-1 of the General Regulations of the Autorité des Marchés Financiers (the “AMF”), the Board of Directors ofEurobio Scientific has appointed Ledouble, represented by Mr. Olivier Cretté and Mr. Jonathan Nilly (64, rue de la Boétie, 75008 Paris), as the independent appraiser responsible for drafting a report including a fairness opinion on the financial terms of the offer.
The documentation relating to the public buyout offer will be submitted to the AMF for review, and the completion of the offer remains subject to the AMF’s determination of compliance following its review.
Following the closing of the Offer, EB Development will initiate a mandatory buyout procedure, as minority shareholders hold less than 10% of Eurobio Scientific’s capital and voting rights. Minority shareholders will receive compensation equal to the price of the public buyout offer as part of the mandatory buyout procedure.
Availability of the 2026 half-yearly financial report
Eurobio Scientific made available to the public and filed with the French Financial Markets Authority (AMF) on 24 September 2026 its half-year financial report as at 30 June 2026.
The half-year financial report can be found on the company’s website at: www.eurobio-scientific.com under the heading “investors” / “regulated information” / “half-year financial reports”.
Disclaimer :
This press release has been prepared for information purposes only. It does not constitute an offer to purchase or exchange, or a solicitation of an offer to sell or exchange securities of Eurobio Scientific S.A.. The dissemination, publication or distribution of this press release may be restricted by law in certain jurisdictions and, consequently, any person in possession of this press release located in such jurisdictions must inform themselves about and comply with applicable legal restrictions. Neither Eurobio Scientific S.A., nor EB Development, nor its respective shareholders, advisors, or representatives accept any responsibility for the use by any person of this press release or its content, or more generally relating to this press release.
| About Eurobio Scientific Eurobio Scientific is a key player in the field of specialty in vitro diagnostics. It is involved from research to manufacturing and commercialization of diagnostic tests in the fields of transplantation, oncology, immunology and infectious diseases, and sells instruments and products for research laboratories, including biotechnology and pharmaceutical companies. Through many partnerships and a strong presence in hospitals, Eurobio Scientific has established its own distribution network and a portfolio of proprietary products in the molecular biology field. The Group has approximately 290 employees and four production units based in the Paris region, in Germany, in the Netherlands and in the United States, and several affiliates based in Milan in Italy, Dorking UK, Sissach Switzerland, Bünde Germany, Antwerp Belgium, and Utrecht in The Netherlands. Eurobio Scientific’s controlling shareholder is the holding company EB Development, acting in concert with funds managed by NextStage AM and IK Partners, as well as members of the Company’s Board of Directors and senior management. For more information, please visit: www.eurobio-scientific.com The company is publicly listed on the Euronext Growth market in Paris Euronext Growth BPI Innovation, PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech label. Symbol: ALERS - ISIN Code: FR0013240934 - Reuters: ALERS.PA - Bloomberg: ALERS:FP |
| Contacts |
| Groupe Eurobio Scientific Denis Fortier, Chairman and CEO Olivier Bosc, Deputy CEO/ CFO Tel. +33(0) 1 69 79 64 80 | Actus Mathieu Calleux Investors Relations Tel. +33(1) 53 65 68 68 - eurobio-scientific@actus.fr |
1 Threshold crossing declaration by the Offeror dated June 2, 2025 (D&I 225C0881).
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