Report
Thibault Leneeuw

Fagron Solid FY25 Performance with Broad Based Momentum

Fagron delivered a solid FY25 performance, with revenue coming in 1% above CSS expectations, mainly supported by betterthanexpected growth in North America. REBITDA reached €193m, coming in 1.6% above CSS expectations, as all regions reported slightly higher margins than anticipated. Regionally, EMEA posted the strongest overall growth, driven by acquisitions, while North America and LatAm delivered DD organic growth at CER. For FY26, Fagron expects M to HSD organic growth at CER and a modest improvement in margins. We expect a positive market reaction, reiterate our Buy rating, and for now maintain our TP of € 24.
FY25 results:
Underlying
Fagron SA

Fagron supplies products, services to professionals and institutions in the healthcare sector in Europe, the U.S.A. and Brazil. Co.'s activities are subdivided into four divisions. Through Fagron, Co. offers products and concepts for pharmaceutical compounding. Through Arseus Dental, Co. supplies dental products and concepts to dentists and dental laboratories in Belgium, the Netherlands, France, Germany and Switzerland. Through Arseus Medical, Co. supplies medical and surgical products to specialists, elderly homes, homecare nurses and hospitals in Belgium and the Netherlands. Through Corilus, Co. supplies ICT total solutions for medical specialists in Belgium, the Netherlands and France.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Thibault Leneeuw

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