Eckert & Ziegler SE

Latest Results (11.07.2026):

Eckert & Ziegler SE Q1 2026 results show a solid group performance driven by the Medical segment and radiopharmaceutical sales growth: group net sales were €72.9m in Q1 2026 (vs. €68.2m in Q1 2025), with net income of €10.4m (EPS €0.17). Adjusted EBIT for the quarter was €16.0m and the adjusted EBIT margin was 22%, while management describes a mixed but overall positive picture with momentum recovering in Isotope Products and continued strategic partnerships and capacity increases.

Financial headline

Group net sales: €72.9m (+7% reported vs Q1 2025; FX-adjusted +11%). Adjusted EBIT: €16.0m (margin 22% vs 24% in prior year). Net income: €10.4m (EPS €0.17) vs €9.7m in Q1 2025. Financial result and currency effects improved to +€0.4m (PY: -€0.5m).

Segment performance

Medical segment: revenue €41.5m (Q1 2026) up ~21% vs Q1 2025 (FX-adjusted +24%); adjusted EBIT €14.0m; gross profit €22.5m (+€4.1m vs PY) and gross margin 54% (+1pp). Isotope Products: weaker start to the quarter with "3P" sales -7% vs PY but management expects recovery. "Others" includes a -€0.9m effect from a retrospective LTI remuneration adjustment (partly one‑time).

Operational & strategic developments

Key operational items highlighted: significant increase in Ac‑225 production capacity (NuWays initiative and transition to larger-scale manufacturing in Řež and Braunschweig) and a Feb 26, 2026 partnership with Molecular Partners to support development of radio‑DARPin therapeutics — illustrating a strategic move upstream into next‑generation radiopharmaceutical platforms.

Outlook & context

Management characterises the outlook as positive but mixed: radiopharmaceuticals continue to drive growth (radiopharma +23% vs Q1 2025), while Isotope Products are recovering from a slow start. Q1 2025 comparators were affected by a cyberattack, delivery interruption and a China license deal, which complicate year‑over‑year comparisons. Overall momentum is presented as improving.