Bastide Le Confort Médical (BLC) H2 2025 earnings summary

Executive summary

• Revenue grew 6.3% year-over-year to €491.2 million, with organic growth of 8.0% driven by home healthcare services and Homecare segment momentum.

• Recurring operating profit rose 12.6% to €44.2 million, with a recurring operating margin of 9.0%, in line with targets.

• EBITDA increased 11.4% to €104.2 million, and operating free cash flow more than doubled to €23.3 million.

• Net profit reached €1.6 million, up 29.3% year-over-year, despite higher financial expenses.

Financial highlights

• Revenue: €491.2 million (+6.3% year-over-year, +8.0% organic).

• EBITDA: €104.2 million (+11.4%), margin 21.2%.

• Recurring operating profit: €44.2 million (+12.6%), margin 9.0%.

• Net profit: €1.6 million (+29.3%).

• Operating free cash flow: €23.3 million (more than double previous year).

Outlook and guidance

• 2025-2026 revenue expected to exceed €510 million, with recurring operating margin around 9%.

• Leverage targeted below 3x and financial expenses expected to decrease.

• Guidance incorporates a 5% price cut in sleep apnea segment from April 2025 and a further 4% cut in April 2026.