Revenue at constant currency rates
|
kEUR |
H1 2026 |
H1 2025 |
|
|
|
|
|
Revenue at constant currency rates 1 |
240,098 |
166,511 |
|
Impact from changes in exchange rates compared to prior period |
-3,470 |
585 |
|
Revenue reported (IFRS) |
236,628 |
167,096 |
1 Revenue translated into the presentation currency, EUR, using the weighted average EUR currency exchange rate from the prior period.
Change in revenue
|
|
H1 2026 vs H1 2025 |
H1 2025 vs H1 2024 |
|
|
|
|
|
Change in revenue reported (IFRS) (%) |
41.6% |
23.7% |
|
Change in revenue at constant currency rates (%) 1 |
43.7% |
23.3% |
1 The change is calculated as: (Current period's revenue at constant currencies) / (Prior period's revenue reported (IFRS)) - 1.
Revenue by business area, excl. coronavirus pandemic (H1 2026 vs H1 2025 and H1 2021)
|
kEUR |
H1 2026 |
H1 2025 |
H1 2021 |
|
|
|
|
|
|
Commercial revenue |
147,012 |
108,249 |
58,929 |
|
Development revenue, excl. revenue associated with the coronavirus pandemic |
89,616 |
58,847 |
43,988 |
|
Revenue associated with the coronavirus pandemic |
– |
– |
32,219 |
|
Revenue reported (IFRS) |
236,628 |
167,096 |
135,136 |
Revenue by therapeutic area, excl. coronavirus pandemic (H1 2026 vs H1 2025 and H1 2021)
|
kEUR |
H1 2026 |
H1 2025 |
H1 2021 |
|
|
|
|
|
|
Metabolic |
161,740 |
93,651 |
35,647 |
|
Oncologic |
12,266 |
22,452 |
15,483 |
|
Other, excl. revenue associated with the coronavirus pandemic |
62,622 |
50,993 |
51,787 |
|
Revenue associated with the coronavirus pandemic |
– |
– |
32,219 |
|
Revenue reported (IFRS) |
236,628 |
167,096 |
135,136 |
Operating result to EBITDA
|
kEUR |
H1 2026 |
H1 2025 |
|
|
|
|
|
Operating result (EBIT) |
21,979 |
-13,723 |
|
Depreciation, amortization and impairment charges (if any) |
27,112 |
18,157 |
|
EBITDA |
49,091 |
4,434 |
Return on net operating assets (RONOA)
|
kEUR |
H1 2026 |
H1 2025 |
|
|
|
|
|
Operating result (EBIT) |
21,979 |
-8,516 |
|
Average 1 Net operating assets: |
|
|
|
Total non-current assets (average) |
482,836 |
412,785 |
|
Total current assets (average) |
334,084 |
306,234 |
|
Cash and cash equivalents (average) |
-67,863 |
-62,585 |
|
Total current liabilities (average) |
-204,508 |
-190,265 |
|
Average 1 Net operating assets |
544,549 |
466,169 |
|
Return on net operating assets (RONOA) |
4.0% |
-1.8% |
1 The average amounts are calculated as: (Current period's figures + prior period's figures) / 2.
Free Cash Flow
|
kEUR |
H1 2026 |
H1 2025 |
|
|
|
|
|
Net cash flows from operating activities |
25,219 |
49,656 |
|
Acquisition of intangible assets |
-603 |
-457 |
|
Acquisition of property, plant and equipment |
-43,718 |
-48,683 |
|
Free Cash Flow |
-19,102 |
516 |
Net Cash
|
kEUR |
As at 30 June 2026 |
As at 31 December 2025 |
|
|
|
|
|
Cash and cash equivalents |
59,031 |
74,589 |
|
Interest-bearing liabilities (Total financial debt): |
|
|
|
Interest-bearing loans and borrowings (Non-current) |
-98,841 |
-109,034 |
|
Lease liabilities (Non-current) |
-15,106 |
-15,979 |
|
Other financial liabilities (Non-current) |
-8,799 |
-9,435 |
|
Interest-bearing loans and borrowings (Current) |
-20,700 |
-544 |
|
Lease liabilities (Current) |
-4,435 |
-5,008 |
|
Other financial liabilities (Current) |
-1,328 |
-1,361 |
|
Interest-bearing liabilities (Total financial debt) |
-149,209 |
-141,361 |
|
Net Cash / (debt) |
-90,178 |
-66,772 |
Capital expenditures (Capex)
|
kEUR |
H1 2026 |
H1 2025 |
|
|
|
|
|
Property, plant and equipment assets capitalized |
40,483 |
45,631 |
|
Intangible assets capitalized |
835 |
477 |
|
Capital expenditures (Capex) |
41,318 |
46,108 |