EKF Diagnostics (EKF) H2 2025 earnings summary

Executive summary

• Strategy targets leadership in point-of-care hemoglobin and ketone testing by 2029, with Life Sciences to become a leading CDMO for diagnostics and pharma markets.

• 2025 marked a foundational year, focusing on strategic alignment, operational simplification, and execution readiness for future growth.

• Expanded commercial teams, completed product portfolio simplification, and initiated capacity increases in Hematology.

• Significant progress in U.S. blood bank market, LATAM expansion, and NGO partnerships in Africa.

• Share buyback program executed, repurchasing nearly 20 million shares (4.4% of business) for GBP 5 million to enhance shareholder value.

Financial highlights

• Revenue increased 3% year-over-year to GBP 51.6 million.

• Gross margin improved to 51% from 48% in 2024.

• EBITDA reached GBP 12.4 million, meeting internal targets.

• Cash at year-end was GBP 15.8 million after share buybacks.

• Profit before tax was GBP 7.1 million (2024: GBP 6.3 million).

Outlook and guidance

• 2026 objectives focus on commercial development in strategic markets, operational excellence, and CapEx to support growth.

• Continued double-digit BHB growth targeted in the U.S., with new product launches scheduled for 2027 and 2028.

• Life Sciences to relaunch as a value-enhancing CDMO, with expected growth in contract manufacturing.

• Q1 2026 trading is positive, but geopolitical risks remain.