Earnings release
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bioMérieux – First-Half 2026 Results • Solid Q2 26 performance: +5% organic sales growth • Confirmation of the 2026 financial guidance • Adjustment of 2027 and 2028 financial outlook +0.2% organic sales growth in H1 26, at €1,965 million driven by a +6% organic sales increase across the four growth drivers of the GO•28 strategic plan while the sales of the BIOFIRE ® respiratory panels were negatively impacted by a lower respiratory epidemiology in H1 26 versus H1 25: • Microbiology: +4.3% organic sales growth, supported by strong momentum in reagent sales , particularly BACT/ALERT® bottles; • SPOTFIRE®1: €90 million in revenues with reagents sales up 35% despite a lower respiratory epidemiology than in the prior year period; • BIOFIRE®2 non-respiratory panels: +5.5% organic sales growth, with acceleration in Q2 2026; • Industrial Applications: +7% organic sales growth, driven by double-digit growth in reagents sales; • BIOFIRE® respiratory panels: -17% organic sales decline, reflecting a significantly softer respiratory epidemiological activity in H1 26 compared to H1 25. Q2 2026 sales totaled €981 million , with solid organic growth at +5%, reaching +7% excl uding BIOFIRE® respiratory panels. The sales of the GO•28 growth drivers increased by 8.5% organically in Q2 26. Contributive operating income before non -recurring items (CEBIT)3 at €313 million in H1 2 6, including a €35m negative currency effect, and declining -4.9% organically versus H1 25. Net income (group share) amounted to €226 million, up 41% compared to H1 202 5 which was impacted by the partial impairment of the VITEK® REVEAL™ technology. Adjusted diluted earnings per share (Adjusted EPS) of €1.99, -4% organically and -17% reported versus H1 2025. Free cash-flow generation3 up 76% in H1 2026 versus H1 2025, at €299 million. Based on the solid organic sales growth in Q2 2026 , bioMérieux confirms its 2026 guidance with organic sales growth expected between +3% and +5% and organic CEBIT3 growth between +0% to +10%. The negative currency effect3 on full-year 2026 CEBIT is now expected to be €40-50 million, versus the previously anticipated €50-60 million. In 2026 and beyond, bioMérieux will continue to execute on the four pillars of its GO•28 strategic plan. However, considering the change in geopolitical and macroeconomic environment since 2024, bioMérieux is adjusting its midterm financial outlook. Accordingly, for 2027 and 2028, bioMérieux is aiming at delivering +3% to +6% organic annual sales growth (versus “7% CAGR4 2024/2028” previously) and organic annual CEBIT growth higher than organic sales growth (versus “at least +10%” previously). 1 In this press release SPOTFIRE® refers to BIOFIRE® SPOTFIRE® system and panels 2 In this press release BIOFIRE® refers to BIOFIRE® FILMARRAY® TORCH system and panels 3 As defined in Appendix #3 4 Compound Annual Growth Rate
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Pierre Boulud, Chief Executive Officer, said: “After a first quarter significantly impacted by a low respiratory season, the second quarter marked an important quarter for bioMérieux, with solid sales growth and key milestones achievements with the FDA submission of the SPOTFIRE ® vaginitis panel and the CE marking of the first SPINCHIP® assay. In line with the solid Q2 performance, we are confirming our 2026 guidance. At the same time, to reflect the change in the geopolitical and macroeconomic environment, we have decided to adjust our outlook for 2027 and 2028. The fundamentals of our business remain strong and our innovation pipeline will continue to support future growth, while we pursue the execution of the different dimensions of the GO•28 strategic plan.” Marcy l’Etoile (France), July 28, 2026 – The Board of Directors of bioMérieux, a world leader in the field of in vitro diagnostics, met on July 27, under the chairmanship of Alexandre Mérieux and approved the consolidated financial statements for the six months ended June 30, 2026. Consolidated data In € million H1 2026 H1 2025 % Change As reported % Change At constant exchange rates and scope of consolidation Net Sales 1,965 2,044 -3.9% +0.2% Contributive operating income before non-recurring items 313 372 -15.7% -4.9% % sales 15.9% 18.2% Operating income 299 209 +43.3% +62.9% Net income, group share 226 161 +40.6% +62.5% Diluted net income per share 1.91€ 1.35€ Adjusted Net Income 236 284 Adjusted Earnings Per Share (diluted) 1.99€ 2.39€ -17.0% -4.0% EBITDA 440 495 -11.0% -1.8% Free Cash Flow 299 170 +75.8% H1 2026 FY 2025 % Change As reported Net Cash Position 236 108 +117.6% SALES NB: Unless otherwise stated, sales growth is expressed at constant exchange rates and scope of consolidation (like-for-like). Consolidated sales amounted to € 1,965 million in the first half of 2026 versus €2,044 million in the same period last year. Organic growth was +0.2%, while r eported growth stood at -3.9%, impacted by an unfavorable currency effect of -€87 million, mainly driven by the depreciation of the US do llar, the Indian Rupee, the Japanese Yen and the Argentinian Peso.
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Evolution of sales In € million SALES – SIX MONTHS ENDED JUNE 30, 2025 2,043.8 Currency effect -87.3 -4.3% Changes in scope of consolidation5 & hyperinflation6 +4.1 +0.2% Organic growth (at constant exchange rates and scope of consolidation) 4.0 +0.2% SALES – SIX MONTHS ENDED JUNE 30, 2026 1,964.6 -3.9% ANALYSIS OF SALES BY APPLICATION Sales by Application In € millions Q2 2026 Q2 2025 % change as reported % change at constant exchange rates and scope of consolidation Six months ended June 30, 2026 Six months ended June 30, 2025 % change as reported % change at constant exchange rates and scope of consolidation Clinical applications 809.6 786.6 +2.9% +4.1% 1,634.1 1,724.4 -5.2% -1.1% Molecular biology 384.3 380.9 +0.9% +2.5% 809.1 902.7 -10.4% -5.4% BIOFIRE® 338.7 342.8 -1.2% +0.4% 696.4 795.0 -12.4% -7.7% SPOTFIRE® 34.3 25.1 +36.6% +37.7% 90.3 79.4 +13,7% +21.8% Other Molecular 11.3 13.0 -13.5% -11.1% 22.4 28.3 -20.6% -17.6% Microbiology 337.9 320.4 +5.4% +6.5% 652.8 646.6 +1.0% +4.3% Immunoassays 72.3 74.2 -2.6% -1.0% 139.4 149.3 -6.6% -3.2% Other lines(1) 15.1 11.1 +36.8% +21.1% 32.9 25.9 +27.0% +24.2% Industrial Applications(2) 171.3 159.3 +7.6% +9.3% 330.4 319.4 +3.5% +7.2% TOTAL SALES 981.0 945.9 +3.7% +5.0% 1,964.6 2,043.8 -3.9% +0.2% (1) Including mainly BioFire Defense and R&D-related revenue arising on clinical applications (2) Including R&D-related revenue arising on industrial applications. Q2 26 vs Q2 25 like-for-like evolutions by application: CLINICAL APPLICATIONS sales increased by 4.1%, reaching €810 million: In molecular biology: ▪ BIOFIRE® non-respiratory panels sales grew by 7%, driven by growth across all panels and all regions; ▪ BIOFIRE® respiratory panels sales declined by 6%, reflecting a significantly lower epidemiology compared with the prior year; ▪ SPOTFIRE® generated €34 million in sales, representing 38% year-on-year growth, despite a lower respiratory epidemiology, an evolution in the mix , and changes in the reimbursement policy in Japan. The SPOTFIRE® installed base exceeded 7,200 instruments as of June 30, 2026, following 400 new instrument installations during the quarter. Microbiology sales grew by 6.5%, driven by an improvement in China and in instruments’ sales versus the previous quarter, along with sustained momentum in reagents sales, particularly within the BACT/ALERT® range, and a positive price effect. 5 As defined in Appendix #3 6 For those currencies meeting the criteria to be considered hyperinflationary under IAS 29, such as Argentina and Turkey, an IFRS technical adjustment for hyperinflation impact is reflected as FX and therefore excluded from the organic growth calculation. The effect of operational actions taken in these countries such as increased pricing to mitigate the inflationary impact is reflected as part of the organic growth
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Immunoassays sales declined by 1%, still impacted by China's volume-based procurement policy and lower global VIDAS® PCT sales. Excluding these two factors, Immunoassays delivered close to mid-single digit sales growth with solid dynamics in India and Africa. INDUSTRIAL APPLICATION S sales rose by 9% to €171 million, reflecting sustained momentum in reagents sales, notably in the molecular biology and flow cytometry ranges and a positive price effect. ANALYSIS OF SALES BY REGION Sales by Region In € millions Q2 2026 Q2 2025 % change as reported % change at constant exchange rates and scope of consolidation Six months ended June 30, 2026 Six months ended June. 30, 2025 % change as reported % change at constant exchange rates and scope of consolidation North America 432.3 416.4 +3.8% +5.9% 888.3 960.1 -7.5% -1.3% Latin America 73.8 66.5 +10.9% +6.3% 142.4 129.1 +10.3% +10.8% EMEA (1) 330.9 317.0 +4.4% +4.3% 646.8 637.7 +1.4% +1.8% Asia Pacific 144.0 146.0 -1.3% +3.0% 287.1 316.8 -9.4% -2.7% TOTAL SALES 981.0 945.9 +3.7% +5.0% 1,964.6 2,043.8 -3.9% +0.2% (1) Including Europe, the Middle East and Africa. Q2 26 vs Q2 25 like-for-like trends per region: North America (44% of the consolidated total) delivered solid sales growth of nearly +6%, supported by solid reagents sales across SPOTFIRE®, microbiology, BIOFIRE® non-respiratory panels and industrial applications ranges. This performance was partly offset by a decline in BIOFIRE ® respiratory panels, because of lower respiratory epidemiology, and in immunoassays sales. Latin America (7% of the consolidated total) recorded +6% sales growth, driven by double digit sales growth in microbiology, BIOFIRE® non respiratory panels and SPOTFIRE®. On the opposite, BIOFIRE® respiratory panels sales were down double digit, impacted by lower respiratory epidemiology. Europe – Middle East – Africa region (34% of group sales) recorded 4% sales growth. Performance was driven by microbiology, BIOFIRE® non-respiratory panels and SPOTFIRE® sales. This was partially offset by lower sales of BIOFIRE® respiratory panels driven by lower respiratory epidemiology. Asia-Pacific region (15% of group’s sales) sales were up +3% driven by a strong dynamic in Industrial Applications segment, a sustained growth in immunoassays in India and a slight improvement in China which were partly offset by decline in BIOFIRE® respiratory sales on lower respiratory epidemiology and SPOTFIRE® sales impacted by change in reimbursement policy in Japan. CONSOLIDATED INCOME STATEMENT Contributive operating income before non-recurring items (CEBIT) For the six months ending June 30, 2026, reported CEBIT decline by -16% year-on-year to €313 million, representing 15.9% of total sales. At constant exchange rate s and scope of consolidation, CEBIT decreased -4.9% compared with the first half of 2025.
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▪ Gross profit amounted to €1,098 million, decreased by -1% versus H1 2025 at constant exchange rates and scope of consolidation, mainly driven by unfavorable product mix , investments in manufacturing projects and higher transport costs due to Middle East events. The impact of tariffs was almost neutral year-on-year, with the extra tariffs’ charges being offset by the reimbursement of the tariffs paid in 2025. ▪ Selling, general and administrative expenses amounted to €544 million, a 2% like for like decrease versus H1 2025, reflecting lower variable compensation and positive impact of efficiency measures. ▪ R&D expenses amounted to €257 million, or 13.1% of sales, compared with €249 million and 12.2% one year earlier , a +5% increase on a like -for-like basis , with increased investments in molecular franchise, SPINCHIP® technology and microbiology. Operating income before non-recurring items Amortization and impairment of acquisition -related intangible assets , along with acquisition costs , amounted to €14 million in H1 2026, down from €163 million in first-half 2025, which was impacted by the €146 million partial impairment of the VITEK® REVEAL™ (fast AST solution) technology. As a result, the Group ended the first half of 2026 with an operating income of €299 million, up 43.3% compared to the €209 million reported during the same period one year earlier. Net income of consolidated companies ▪ Net financial expenses amounted to €5 million in H1 2026, compared with net financial income of €4 million in H1 2025, reflecting the adverse impact on cash positions of the increase of the euro against most currencies, particularly the U.S. dollar. ▪ The Company's effective tax rate stood at 23.4% as of June 30, 2026. ▪ Net income, Group share, amounted to €226 million in the first half of 2026, up 41%. ▪ Adjusted Net Income6, which excludes the amortization and impairment of acquired intangible assets, as well as the effects of significant non-recurring operations, including restructuring operations, and their related tax impacts, reached €236 million, down 17% versus H1 2025. Adjusted diluted earnings per share for H1 2026 reached €1.99, a -4% organic and -17% reported decline versus H1 2025, fully in line with the evolution of the CEBIT. CASH MANAGEMENT AND FINANCING Free cash flow7 EBITDA7 came to €440 million in first-half of 2026, or 22.4% of sales, down 2% on an organic basis, and down 11% on a reported basis from the €495 million reported for the same period one year earlier in line with the evolution of the contributive operating income before non-recurring items. Operating working capital decreased by €19 million in the first half of 2026. This evolution was primarily the result of the following items: ▪ trade receivables decreased by €63 million mainly driven by sales activity and thanks to an efficient cash collection in the US; ▪ inventories reduced by €7 million like-for-like during the period, driven by a decrease in raw materials inventory in the US; ▪ other working capital requirement items decreased by €42 million, primarily due to annual bonus es payments. 7 As defined in Appendix #3
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Income tax paid represented €28 million in H1 2026, a decrease from the €123 million paid in the first six months of 2025, reflecting the positive cash flow impact of the U.S. tax legislation evolution that came into effect in July 2025. Capital expenditure represented 7.1% of sales or €1 39 million in the first half of 2026, down 9% compared to the level recorded in the first half of 2025. Most of these investments were made in the U.S. and French manufacturing sites, to increase their capacity and automation, and in the placement of new instruments. As a result, free cash flow reached €299 million in the first half of 2026, a 76% increase compared with €170 million in the first half of 2025. Business development & financing operations In January 2026, bioMérieux acquired the remaining 90% equity interest in Accellix, a privately held U.S. company that develop s a rapid, automated flow cytometry solutions for cell and gene therapy quality control. The cash outflow amounted to approximately €28 million. Change in net cash position8 A dividend of €115 million was paid in the first half of 2026, i.e. €0.98 per share, a +9% increase versus the €0.90 per share distributed one year earlier. As a result, consolidated net cash position came to €236 million as of June 30, 2026, versus a net cash position of €108 million as of December 31, 2025. This net cash position includes the discounted liability related to leases amounting to €155 million (IFRS16). 2026 OBJECTIVES Based on its first-half 2026 performance, bioMérieux confirms its 2026 full year guidance for both sales and CEBIT growth: ▪ 2026 sales are expected to grow by + 3% to + 5% at constant exchange rates and scope of consolidation; ▪ 2026 CEBIT should grow by +0% to +10% at constant exchange rates and scope of consolidation; ▪ The 2026 full year currency effect on CEBIT is now expected to reach approximately -€40 million to -€50 million (previously -€50 million to -€60 million). SIGNIFICANT EVENTS OF THE SECOND QUARTER OF 2026 bioMérieux submitted 510(k) to U.S. FDA for the latest versions of the BIOFIRE ® FILMARRAY® Gastrointestinal Panels to enhance detection of gastrointestinal pathogens On June 30, 2026, bioMérieux announced the submission of the BIOFIRE® FILMARRAY® Gastrointestinal 1.1 (GI1.1) Panel and the BIOFIRE® FILMARRAY ® Gastrointestinal 1.1 (GI1.1) Panel Mid to the U.S. Food and Drug Administration (FDA) for 510(k) review. These PCR molecular panels test 22 and 11, respectively, of the most common bacteria, viruses, and parasites associated with gastroenteritis, all from one sample, with results available in approximately one hour. These new versions introduce updated capabilities, including enhanced norovirus detection, further strengthening assay specificity. 8 As defined in Appendix #3
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bioMérieux filed a dual 510(k)/CLIA Waiver application to the FDA for the BIOFIRE ® SPOTFIRE® Vaginitis Panel On June 26, 2026, bioMérieux submitted a dual 510(k)/CLIA Waiver application to the U.S. Food and Drug Administration (FDA) for the BIOFIRE® SPOTFIRE® Vaginitis (VG) Panel. This automated, multiplex PCR test panel reports 8 results, including bacterial vaginosis, yeast and parasite pathogens, with one swab, in about 20 minutes to align within a typical patient’s visit timeframe. With this submission, bioMérieux is intending to expand into women’s and sexual health, bringing rapid and accurate diagnostics closer to patients. The BIOFIRE® SPOTFIRE® VG Panel aims to support timely treatment decisions and delivers a clear and dignified diagnostic experience, which may be associated with improved patient management. bioMérieux introduced Salmonella testing kit on GENE-UP® TYPER to support root cause analysis in the food industry On June 18, 2026, bioMérieux introduced the launch of GENE -UP® TYPER SLM, a new real -time PCR solution supporting rapid root cause analysis by discriminating Salmonella in the food industry environments. This new assay specifically targets Salmonella enterica subspecies enterica, the subspecies most frequently isolated in human salmonellosis cases and in food-related incidents. bioMérieux invests in France with a new facility to manufacture innovative diagnostics for the European market On May 29, 2026, bioMérieux announced a strategic investment of more than €250 million to build a new manufacturing facility in France (La Balme -les-Grottes, Isère) dedicated to the production of PCR tests from its BIOFIRE ® range. The project is expected to create approximately 400 jobs over time. This new facility will help secure the supply of essential diagnostic solutions for the European market while enhancing the resilience of healthcare systems in addressing infectious diseases threats. SUBSEQUENT EVENTS CE-Marking for the SPINCHIP® Analyzer and its first assay, SPINCHIP® hs-cTnI. In July 2026, bioMérieux completed the IVDR CE-Marking for the SPINCHIP® Analyzer and its first assay, SPINCHIP® hs-cTnI. SPINCHIP ® is a breakthrough immunoassay diagnostics platform that delivers laboratory quality performance at the Point Of Care. It will complement bioMérieux's existing portfolio and strengthen bioMérieux's presence in the rapidly growing point-of-care segment. The SPINCHIP® hs-cTnI assay enables the high-sensitivity measurement of cardiac troponin I for patients with suspected myocardial infraction. The commercial launch, in Europe, is planned for later in 2026. INVESTOR PRESENTATION bioMérieux will hold an investor presentation on Tuesday July 28th, 2026 at 2:00 pm Paris time (GMT+1). The presentation will be conducted in English and will be accessible via webcast. Webcast link: : https://biomerieux.engagestream.euronext.com/hy_2026_results For people unable to join the webcast URL, please register to the audio conference through the link below Audio conference link: https://engagestream.euronext.com/biomerieux/hy_2026_results/dial-in INVESTOR CALENDAR 2026 third-quarter sales October 30, 2026
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ABOUT BIOMÉRIEUX Pioneering Diagnostics A world leader in the field of in vitro diagnostics for 60 years, bioMérieux is present in 46 countries and serves more than 160 countries with the support of a large network of distributors. In 202 5, revenues reached €4.1 billion, with over 94% of sales outside of France. bioMérieux provides diagnostic solutions (systems, reagents, software and services) which determine the source of disease and contamination to improve patient health and ensure consumer safety. Its products are mainly used for diagnosing infectious diseases. They are also used for detecting microorganisms in agri-food, pharmaceutical and cosmetic products. bioMérieux is listed on the Euronext Paris stock market. Symbol: BIM – ISIN Code: FR0013280286 Reuters: BIOX.PA/Bloomberg: BIM.FP Corporate website: www.biomerieux.com. Investors section: www.biomerieux.com/en/finance CONTACTS Investor Relations bioMérieux Aymeric Fichet Tel.: +33 (0)4 78 87 20 00 investor.relations@biomerieux.com Media Relations bioMérieux bioMérieux - France Romain Duchez Isabelle de Segonzac (Image 7) Tel.: +33 (0)4 78 87 20 00 Tel.: +33 (0)1 53 70 74 64 media@biomerieux.com isegonzac@image7.fr
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APPENDIX 1: QUARTERLY SALES BY APPLICATION AND REGION Sales by Application in € millions and % Change in Sales by Application First quarter Second quarter First half 2026 2025 2026 2025 2026 2025 Clinical applications 824.5 937.8 809.6 786.6 1,634.2 1,724.4 Molecular biology 424.8 521.7 384.3 380.9 809.1 902.7 BIOFIRE® 357.6 452.2 338.7 342.8 696.4 795.0 SPOTFIRE® 56.0 54.3 34.3 25.1 90.3 79.4 Other molecular 11.2 15.2 11.3 13.0 22.4 28.3 Microbiology 314.9 326.1 337.9 320.4 652.8 646.6 Immunoassays 67.1 75.0 72.3 74.2 139.4 149.3 Other lines(1) 17.8 14.9 15.1 11.1 32.9 25.9 Industrial Applications(2) 159.1 160.1 171.3 159.3 330.4 319.4 TOTAL SALES 983.6 1,097.9 981.0 945.9 1,964.6 2,043.8 (1) Including mainly BioFire Defense, R&D-related revenue arising on clinical applications (2) Including R&D-related revenue arising on industrial applications. First quarter Second quarter First half As reported Like-for- like(3) As reported Like-for- like(3) As reported Like-for- like(3) Clinical applications -12.1% -5.5% +2.9% +4.1% -5.2% -1.1% Molecular biology -18.6% -11.1% +0.9% +2.5% -10.4% -5.4% BIOFIRE® -20.9% -13.8% -1.2% +0.4% -12.4% -7.7% SPOTFIRE® +3.2% +14.5% +36.6% +37.7% +13.7% +21.8% Other molecular -26.8% -23.1% -13.5% -11.1% -20.6% -17.6% Microbiology -3.4% +2.0% +5.4% +6.5% +1.0% +4.3% Immunoassays -10.6% -5,4% -2.6% -1.0% -6.6% -3.2% Other lines(1) +19.6% +26.8% +36.8% +21.1% +27.0% +24.2% Industrial Applications(2) -0.6% +5.2% +7.6% +9.3% +3.5% +7.2% TOTAL SALES -10.4% -3.9% +3.7% +5.0% -3.9% +0.2% (1) Including mainly BioFire Defense, R&D-related revenue arising on clinical applications (2) Including R&D-related revenue arising on industrial applications. (3) At constant exchange rates and scope of consolidation. Sales by Region in € millions and % Change in Sales by Region First quarter Second quarter First half 2026 2025 2026 2025 2026 2025 North America 455.9 543.5 432.3 416.4 888.3 960.1 Latin America 68.7 62.7 73.8 66.5 142.4 129.1 Europe (1) 315.9 320.7 330.9 317.0 646.8 637.7 Asia Pacific 143.1 170.9 144.0 146.0 287.1 316.8 TOTAL SALES 983.6 1,097.9 981.0 945.9 1,964.6 2,043.8 (1) Including the Middle East and Africa. First quarter Second quarter First half As reported Like-for- like(2) As reported Like-for- like(2) As reported Like-for- like(2) North America -16.1% -6.9% +3.8% +5.9% -7.5% -1.3% Latin America +9.5% +15.7% +10.9% +6.3% +10.3% +10.8% Europe (1) -1.5% -0.7% +4.4% +4.3% +1.4% +1.8% Asia Pacific -16.3% -7.6% -1.3% +3.0% -9.4% -2.7% TOTAL SALES -10.4% -3.9% +3.7% +5.0% -3.9% +0.2%
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(1) Including the Middle East and Africa. (2) At constant exchange rates and scope of consolidation. Sales equipments, reagents & services in € millions (IFRS15) Sales of equipment 115.3 135.3 Sales of reagents 1,636.1 1,713.6 Sales of services 134.5 125.7 Equipment rentals 38.1 29.6 Other revenue 40.5 39.5 REVENUE 1,964.6 2,043.8 In millions of euros 2026 (6 mois) 2025 (6 mois)
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APPENDIX 2: SUMMARY OF CONSOLIDATED FINANCIAL STATEMENTS AT JUNE 30, 2026 CONSOLIDATED INCOME STATEMENT In millions of euros 2026 (6 months) 2025 (6 months) NET SALES 1,964.6 2,043.8 Cost of sales -866.4 -876.9 GROSS PROFIT 1,098.2 1,166.9 GROSS PROFIT (in % of net sales) 55.9% 57.1% OTHER OPERATING INCOME 16.9 23.2 Selling and marketing expenses -390.3 -407.8 General and administrative expenses -154.0 -161.0 Research and development expenses -257.4 -249.4 TOTAL OPERATING EXPENSES -801.8 -818.2 CONTRIBUTIVE OPERATING INCOME 313.3 371.9 CONTRIBUTIVE OPERATING INCOME (in % of net sales) 15.9% 18.2% Amortization and impairment of acquisition-related intangible assets and acquisition costs (a) -14.2 -163.2 OPERATING INCOME BEFORE NON-RECURRING ITEMS 299.1 208.7 Other non-recurring income (expenses) 0.6 0.5 OPERATING INCOME 299.7 209.2 Cost of net financial debt 1.0 9.7 Other financial items -6.1 -5.7 Income tax -68.8 -52.6 Share of net income of associates 0.0 0.0 NET INCOME OF CONSOLIDATED COMPANIES 225.8 160.6 Attributable to the minority interests -0.3 -0.4 ATTRIBUTABLE TO THE PARENT COMPANY 226.1 161.0 Basic net income per share 1.92 € 1.36 € Diluted net income per share 1.91 € 1.35 €
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CONSOLIDATED BALANCE SHEET ASSETS (in millions of euros) 06/30/2026 12/31/2025 Goodwill 757.1 727.8 Others intangible assets 415.1 401.5 Property, plant and equipment 1,563.8 1,515.9 Right of use 145.1 141.3 Financial assets 121.1 128.7 Investments in associates 0.7 0.7 Other non-current assets 11.2 10.3 Deferred tax assets 84.3 108.1 NON-CURRENT ASSETS 3,098.4 3,034.3 Inventories and work in progress 975.3 959.7 Accounts receivable 715.3 766.2 Other operating receivables 192.3 178.5 Tax receivable 34.7 47.8 Non-operating receivables 19.8 18.4 Cash and cash equivalents 657.7 569.8 CURRENT ASSETS 2,595.2 2,540.4 ASSETS HELD FOR SALE 0.0 0.0 TOTAL ASSETS 5,693.6 5,574.7 LIABILITIES AND SHAREHOLDERS' EQUITY (in millions of euros) 06/30/2026 12/31/2025 Share capital 12.0 12.0 Additional paid-in capital & Reserves 4,058.8 3,692.6 Net income for the year 226.1 397.5 SHAREHOLERS' EQUITY 4,297.0 4,102.1 MINORITY INTERESTS 2.1 3.9 TOTAL EQUITY 4,299.1 4,106.0 Net financial debt - long-term 188.6 330.0 Deferred tax liabilities 24.9 26.0 Provisions 53.4 48.0 NON-CURRENT LIABILITIES 266.9 404.0 Net financial debt - short-term 233.2 131.4 Provisions 46.0 44.3 Accounts payable 252.1 262.1 Other operating liabilities 514.3 539.4 Tax liabilities 26.5 18.3 Non-operating liabilities 55.6 69.2 CURRENT LIABILITIES 1,127.6 1,064.7 LIABILITIES RELATED TO ASSETS HELD FOR SALE 0.0 0.0 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 5,693.6 5,574.7
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CONSOLIDATED CASH FLOW STATEMENT (a) Including allocations (reversals) of short term provisions. (b) Including advances and prepayments to suppliers of fixed assets (c) Free cash flow is defined as the sum of flows related to the activity and those related to investments excluding the net cash of t he impact of changes in the scope of consolidation. In millions euros First-half 2025 First-Half 2025 Net income of consolidated companies 225.8 160.6 - Cost of net financial debt -1.0 -9.7 - Other net financial income ans expenses 6.1 5.7 - Income tax expense 68.8 52.6 - Net additions to operational depreciation - non-current provisions 127.8 123.9 - Amortization and impairment of acquisition-related intangible assets 12.8 162.0 EBITDA (before non-recurring items) 440.3 495.1 Other operating non-recurring income (expenses) excluding non-recurring provisions for impairment and capital gains (losses) on disposals of fixed assets -3.9 0.0 Other financial income and expenses (excluding provisions and disposals of non-current financial assets) -2.7 -3.8 Net additions to operating provisions for contingencies and losses 0.0 3.3 Fair value gains (losses) on financial instruments -0.1 2.1 Share-based payments 7.3 12.6 Gain or loss on disposal of fixed assets 2.5 2.6 Elimination of other non-cash or non-operating income and expenses 3.1 16.7 Change in inventories 7.2 -24.9 Change in trade receivables 63.4 58.5 Change in trade payables -9.6 -28.8 Change in other operating working capital -41.5 -79.7 Change in operating working capital requirement (a) 19.4 -74.8 Other non-operating working capital 0.7 -0.5 Change in non-current non-financial assets and liabilities 0.4 -3.0 Change in working capital requirement 20.5 -78.3 Income tax paid -28.1 -123.2 Cost of net financial debt 1.0 9.7 NET CASH FROM OPERATING ACTIVITIES 436.8 320.1 Purchases of property, plant and equipment and intangible assets (b) -139.5 -152.7 Proceeds from disposals of property, plant and equipment and intangible assets 1.6 2.2 Proceeds from other non-current financial assets 0.0 0.5 FREE CASH FLOW (c) 299.0 170.1 Disbursement related to taking non-controlling interests 0.0 -0.6 Impact of changes in Group structure -27.8 -131.2 NET CASH USED IN INVESTING ACTIVITIES -165.6 -281.8 Purchases and sales of treasury shares -19.3 16.4 Dividends paid to owners -115.2 -106.1 Cash flow from new borrowings 0.6 34.2 Cash flows from loan repayments -64.6 -21.0 Change in interests without gain or loss of controlling interest -0.7 0.0 NET CASH USED IN FINANCING ACTIVITIES -199.3 -76.5 NET CHANGE IN CASH AND CASH EQUIVALENTS 71.9 -38.2 NET CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 565.1 442.1 Impact of currency changes on net cash and cash equivalents 17.9 -46.9 NET CASH AND CASH EQUIVALENTS AT END OF YEAR 654.9 357.0
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APPENDIX 3: GLOSSARY & DISCLAIMER DEFINITIONS Adjusted diluted Earnings Per Share (EPS): Adjusted net income divided by the number of shares used in the basic earnings calculation, increased by the weighted average number of potential shares to be issued that would have a dilutive effect on earnings. The number considered shares was 118, 367,846 as of December 31, 2025, compared with 118,905,491 as of December 31, 2025. Adjusted Net Income: Net income adjusted for the amortization and impairment of acquired intangible assets, as well as the effects of significant non -recurring operations, including restructuring operations, and their related tax impacts. The Company considers that this indicator provides the best possible representation of the financial performance of the Company. The reconciliation between the Net Income and the Adjusted Net Income is presented in note #24 of the June 30, 2026 financial report and in the appendix #4 of this document. Changes in the scope of consolidation: The effects of changes in the scope of consolidation are determined: o for acquisitions for the period, by deducting from sales and operating expenses for the period the amount of sales and operating expenses made during the period by the entities acquired from their entry into the scope of consolidation; o for acquisitions of the previous period, by deducting from sales and operating expenses for the period the amount of sales and operating expenses made during the months in which the acquired entities were not consolidated during the previous period; o for disposals for the period by adding to sales and operating expenses for the period the amount of sales and operating expenses made by the entities sold the previous period, during the months in which these entities are no longer consolidated over the current period; o for disposals for the previous period, by adding to the sales and operating expenses of the period the sales and operating expenses made during the preceding period by the entities sold. Currency effect: established by comparing the actual numbers converted at the average exchange rates of the current year to the actual numbers converted at the average exchange rates of the comparison period. In practice, those rates are either average rates communicated by the ECB, or hedged rates if hedging instruments have been set up. Contributive operating income before non -recurring items (CEBIT) : operating income before non -recurring items, excluding items relating to the amortization and impairment of intangible assets related to acquisitions and acquisition - related costs. The Company considers that this indicator provides the best possible representation of the operational performance of the Company. The reconciliation between the o perating income before non -recurring items and the contributive operating income before non-recurring items is presented in note #12 of the June 30, 2026 financial report. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): sum of the contributive operating income before non-recurring items, depreciation and amortization. The reconciliation between the Contributive operating income and EBITDA is presented in note #12 of the June 30, 2026 financial report. Free Cash Flow Generation: cash flow from operations plus cash flow from capital expenditure excluding net cash from acquisitions and disposal of subsidiaries. This indicator is presented in the consolidated cash flow statement in the December 31st 2025 financial report. Net debt / Net cash position : sum of cash and cash equivalents less committed debt and bank overdrafts and other uncommitted borrowings. This indicator is presented in the note #12 of the June 30, 2026 financial report. Operating income before non -recurring items : recurring income less recurring expenses and amortization and impairment of intangible assets related to acquisitions and acquisition-related costs. Non-recurring expenses and income are not included. DISCLAIMER The forward-looking statements contained in this document are based, entirely or partially, on assessments or judgments that may change or be modified, due to uncertainties and risks related to the Company’s economic, financial, regulatory and competitive environment, notably those desc ribed in the 202 5 Registration Document. Accordingly, the Company cannot give any assurance nor make any representation as to whether the objectives will be met. The Company does not undertake to update or otherwise revise any forecasts or objectives presented herein, except in compliance with the disclosure obligations applicable to companies whose shares are listed on a stock exchange.
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APPENDIX 4: RECONCILIATION BETWEEN NET INCOME & ADJUSTED NET INCOME 2026 (6 months) 2025 (6 months) in euro millions Net Income (Group share) 226.1 161.0 Business integration, acquisition and restructuring related items Related tax impact 0.6 -0.2 Reveal technology impairment Related tax impact -145.5 34.9 Amortization of acquired intangible assets -12.8 -16.6 Related tax impact 3.0 4.0 Adjusted net Income 235,5 284,2 Adjusted EPS (diluted) €1.99 €2.39