Medios Achieves Solid Revenue Growth In A Challenging Market Environment And Confirms Full-Year Forecast
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Medios AG
/ Key word(s): Quarterly / Interim Statement/Quarter Results
Medios Achieves Solid Revenue Growth in a Challenging Market Environment and Confirms Full-Year Forecast 10.11.2026 / 07:05 CET/CEST The issuer is solely responsible for the content of this announcement. Press Release Medios Achieves Solid Revenue Growth in a Challenging Market Environment and Confirms Full-Year Forecast
EBITDA pre1 amounted to €66.7 million (9M 2025: €70.4 million); the EBITDA pre1 margin was 4.1% (9M 2025: 4.6%). Profitability was impacted by price declines for selected products in the Pharmaceutical Supply segment and temporarily higher material costs in the International Business. Thomas Meier, CEO of Medios AG:“Despite a challenging market environment, we are growing in all operating segments. In Patient-Specific Therapies, we improved the EBITDA pre1 margin quarter-over-quarter for the third consecutive time. The consistent implementation of our efficiency program, Avanti Medios!, is contributing to this. Furthermore, with our new Medios Next Level strategy, we are streamlining our structure and placing a clear investment focus on expanding our compounding business.” Segment Performance: Revenue Above Prior-Year Level In the Pharmaceutical Supply segment, revenue rose by 6.8% to €1,323.5 million (9M 2025: €1,239.5 million). EBITDA pre1 declined by 9.1% to €35.3 million (9M 2025: €38.8 million). Price declines for selected products could not be fully offset by higher business volume. Additional earnings contributions from new business counteracted the price pressure, while personnel and other operating expenses increased at the same time. Since September, initial improvements in prices have become apparent. The Patient-Specific Therapies segment increased its revenue by 8.4% to €180.0 million (9M 2025: €166.0 million). EBITDA pre1, at €17.7 million, was 2.3% below the prior-year level (9M 2025: €18.1 million), primarily due to drug price regulation. Higher sales volumes across all customer groups and the measures to improve operations helped offset this, but were unable to fully compensate for the decline. In the International Business segment, external revenue grew by 4.1% to €129.3 million. EBITDA pre1 decreased by 7.7% to €20.3 million. In addition to temporarily higher material costs – particularly in connection with eye injections – increased personnel expenses weighed on the segment's earnings. Furthermore, portfolio and divestment effects from the sale of non-core businesses in the prior year had positively impacted the previous year's earnings by €2.6 million. Measures to improve profitability in the current financial year have been initiated. Focus on Cash Flow Operating cash flow for the first nine months of 2026 amounted to €26.2 million (9M 2025: €52.7 million). The 50.2% decline is primarily attributable to higher tax payments, lower earnings, cash proceeds from the sale of non-core businesses in the previous year and later payments to suppliers in the prior year. Working capital as of September 30, 2026, stood at €169.2 million (September 30, 2025: €136.8 million). To improve operating cash flow, Medios is focusing on optimizing capital tied up and cash conversion. Capital expenditures (CapEx) totaled €10.3 million from January through September and were primarily attributable to the construction of a new building in Breda, the Netherlands. Free cash flow before acquisitions amounted to €15.9 million (9M 2025: €47.9 million). At the end of the reporting period, Medios had cash and cash equivalents of €92.2 million (9M 2025: €93.4 million). The net debt-to-EBITDA ratio stood at 1.2x, slightly below the prior-year level of 1.3x; the internal ceiling is 2.0x. Stefan Bauerreis, CFO of Medios AG:“We are working intensively to ensure that our revenue growth is reflected more strongly in earnings and cash flow. That is why we are focusing on our operating cost base, capital tied up, and the swift implementation of the efficiency measures already initiated. At the same time, we continue to make targeted investments in the infrastructure we need for profitable growth.” “Avanti Medios!” Is Having an Impact As part of the“Avanti Medios!” efficiency program, Medios discontinued its activities in the Advanced Therapies business area and implemented restructuring measures at its Belgian subsidiary Magis Pharma in the third quarter. Prior to this, the closure of the Aschaffenburg site was completed. Total savings generated by the program amounted to €2.7 million as of September 30, 2026. Savings of €5 million are expected for the full year 2026. Beyond these individual measures, Medios is focusing on higher capacity utilization, efficient cost management, and the further optimization of its production network in Germany. The rollout of SAP S/4HANA is scheduled for January 1, 2027. It is intended to support process harmonization and thereby contribute to efficiency gains. New“Medios Next Level” Strategy Unveiled On September 29, 2026, Medios unveiled its new 2031 strategy,“Medios Next Level,” at its Capital Markets Day. It calls for a simplification of the Group's structure and a clearly focused business model with two operating segments starting in 2027: Specialty Pharma Supply and Compounding. The focus is on profitable growth and targeted investments in the expansion of the European compounding business. Operational improvements, organic growth, and selective acquisitions are intended to strengthen profitability and cash generation. By 2031, Medios is targeting consolidated revenue of approximately €3.1 billion; at the same time, EBITDA adjusted2 is expected to double to around €170 million. Caelo Strengthens the Compounding Business Following the completion of the acquisition of a majority stake in Caesar & Loretz GmbH (Caelo), Medios has begun integrating the company. The initial consolidation took place on October 1, 2026; as a result, Caelo's contribution is not yet included in the nine-month figures. Through this acquisition, Medios is expanding its Compounding Essentials business. Following a ramp-up phase, annual synergies of €3.4 million are expected from 2028/29 onwards. Enhanced Financial Flexibility All lending consortium banks have approved the increase and extension of Tranche B (RCF) under the existing term loan. The RCF (revolving credit facility) has thereby been increased to up to €125 million, with a further option to increase it to €150 million. The refinancing of the Caelo acquisition is thus already secured; at the same time, additional financial flexibility has been created under unchanged loan terms. Full-Year Forecast Confirmed Despite“Hilfstaxe” Medios confirms its forecast for the 2026 financial year, excluding M&A, with consolidated revenue between €2.10 and €2.16 billion and EBITDA pre1 between €88 and €92 million. The adjustment to the“Hilfstaxe” in Germany – the agreement between health insurance companies and pharmacists regarding the prices of preparations manufactured in pharmacies – is expected to place an additional burden of approximately €1.2 million on EBITDA pre1 in the Patient-Specific Therapies segment in the fourth quarter. The Executive Board therefore expects EBITDA pre1 to be at the lower end of the range.
10.11.2026 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| Language: | English |
| Company: | Medios AG |
| Heidestraße 9 | |
| 10557 Berlin | |
| Germany | |
| Phone: | +49 30 232 566 - 800 |
| Fax: | +49 30 232 566 - 801 |
| E-mail: | ...p |
| Internet: | |
| ISIN: | DE000A1MMCC8 |
| WKN: | A1MMCC |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate BSX |
| LEI Code: | 391200Z7Z09IHDBT2L23 |
| EQS News ID: | 2431178 |
| End of News | EQS News Service |
2431178 10.11.2026 CET/CEST
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