Eckert & Ziegler (EUZ) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached €68.2 million, up 1% year-over-year, and net profit rose 14% to €9.7 million, despite a February cyber attack and temporary delivery stops.

• Adjusted EBIT increased 8% to €16.2 million, with Medical segment margins driving growth, while Isotope Products faced margin pressure from a weaker product mix.

• Management remains optimistic and reaffirmed 2025 guidance, supported by new partnerships and licensing agreements, including a €10 million one-time payment from a Chinese joint venture.

• Both pharma and industry segments remain important, with a balanced revenue split and Medical segment outperforming.

• Strategic supply agreements and CDMO partnerships with companies such as Actinium Pharmaceuticals, AtomVie, and Bicycle Therapeutics contributed to results.

Financial highlights

• Revenue: €68.2 million (+1% year-over-year); Net income: €9.7 million (+14%); EPS: €0.46 (+12%).

• Adjusted EBIT: €16.2 million (+8%); EBIT margin improved to 24% (from 22%); Medical segment gross margin rose to 54%.

• Cash flow from operating activities increased to €7.0 million (+69%); cash and securities at €118.2 million.

• Loan liabilities reduced to €18.5 million; equity ratio stable at 51.5%.

• Group headcount grew to 1,094, reflecting CMO demand.

Outlook and guidance

• 2025 guidance reaffirmed: group net sales expected at €320 million and adjusted EBIT at €78 million.

• Medical segment projected to grow 28% in adjusted EBIT; Isotope Products EBIT adjusted expected to decline 5%.

• Management expects to recover from Q1 delays and maintain an optimistic outlook.