UK's EKF Diagnostics H1 revenue flat, gross margin rises
UK's EKF Diagnostics H1 revenue flat, gross margin rises
Overview
UK diagnostics maker's H1 revenue was flat yr/yr, while gross margin improved
Adjusted EBITDA rose 2.4%, driven by higher margin product revenues
Company continued share buyback programme during H1 2026
Outlook
EKF expects FY 2026 revenue and adjusted EBITDA in line with market expectations
Company sees stronger H2 performance driven by Point-of-Care Hematology shipments and β-HB growth
Company maintains five-year plan to exceed £80 mln revenue and £20 mln adjusted EBITDA by 2029
Result Drivers
PRODUCT MIX - Co said gross margin and adjusted EBITDA were driven by higher margin product revenues, especially β-HB and consumables
LIFE SCIENCES GROWTH - Growth in β-HB and Contract Manufacturing revenues contributed to H1 performance, with β-HB up 4% and Contract Manufacturing up 25%
ORDER TIMING - Point-of-Care revenue was flat, impacted by timing of customer orders and tender awards; delayed revenue expected to be recognised in H2
Company press release: ID:nRSO7166Ua
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Adjusted EBITDA |
| GBP 5.90 mln |
|
H1 Gross Profit |
| GBP 13.30 mln |
|
H1 Pretax Profit |
| GBP 3.40 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
Wall Street's median 12-month price target for EKF Diagnostics Holdings PLC is GBp35.00, about 34.6% above its September 14 closing price of GBp26.00
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago
Reuters Recommended Reads
Sept 14 - Hain Celestial Q4 sales miss estimates on divestiture impact
Sept 14 - Marine tech firm Coda Octopus Q3 revenue rises on defense segment growth
Sept 13 - GE HealthCare in talks over possible $1 billion deal for Sofie Biosciences, FT reports
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)