FamiCord (V3V) Q3 2025 earnings summary

Executive summary

• Revenue and EBITDA improved year-over-year, with net profit turning positive and earnings per share rising to €0.10 from -€0.01, despite challenging economic conditions and low birth rates.

• Recurring revenues from annual payment and subscription contracts increased, enhancing long-term visibility and revenue stability.

• Eastern Europe and the GCC region drove growth, while Germany and Southern Europe remained weak or flat.

• Ten consecutive quarters of improving results, with strong performance in key regions.

Financial highlights

• Group revenue for the first nine months of 2025 rose 10.1% year-over-year to €66.4m, with Q3 revenue at €22.8m.

• EBITDA from continuing operations increased to €8.7m, with margin improving to 17.3% from 13.1% year-over-year.

• Net profit turned positive at €1.8m versus a loss of €0.1m in the prior year period.

• Three new CDMO contracts signed in Q3, worth over €1 million in total, with revenue recognition expected to be delayed.

• Operating cash flow declined 56% to €3.4m, and cash & equivalents fell to €11.3m, mainly due to M&A activity.

Outlook and guidance

• Full-year 2025 guidance confirmed: group revenues expected at €85–95m and EBITDA at €8.7–10.3m.

• Q3 performance provides momentum for a strong year-end, but Q4 is typically less predictable and costlier.

• Acquisitions in 2025, including "novum" in Poland, expected to contribute to growth from 2026.