Eckert & Ziegler SE

Latest Results (30.09.2026):

Eckert & Ziegler SE — Full‑year 2025 (12M 2025): the company reported a record year with group net sales of EUR 312.0m and adjusted EBIT of EUR 77.7m (EBIT adj. margin 25%). Net income was EUR 48.8m (EPS EUR 0.78). Group sales rose ~+5% year‑on‑year (+7% FX‑adjusted) and adjusted EBIT grew ~+18%, with Medical Products driving the outperformance while Isotope Products faced H1 setbacks but finished stronger in Q4.

Key consolidated figures

Group net sales: EUR 312.0m (12M 2025). Adjusted EBIT: EUR 77.7m (EBIT adj. margin 25%). Net income: EUR 48.8m; EPS: EUR 0.78. Reported one‑off IT restoration costs affected results (~EUR -1.7m) and financial/currency impacts were a net negative (~EUR -1.3m).

Medical segment — strong growth

Medical (55% of group): external revenue EUR 171.0m (+15% vs. PY; FX‑adjusted +17%). Adjusted EBIT EUR 51.1m (EBIT adj. margin 30%). Growth drivers: Ga‑68 generator (GalliaPharm®), CMO services and licensing (including Ac‑225 related license income). Gross profit EUR 84.6m; gross margin 49% (+1pp).

Isotope Products — weaker full year but strong Q4

Isotope Products: external revenue EUR 140.9m (-4% vs. PY; FX‑adjusted -2%). Adjusted EBIT EUR 28.3m (EBIT adj. margin 19%). Business impacted by cyber incident, project scheduling delays and weaker industrial/SPECT sales in H1; however H2 (and Q4) showed recovery and stronger product mix.

Operational and strategic highlights

2025 saw multiple commercial and regulatory milestones: GalliaPharm® approvals/market expansion (Japan among markets), supply and manufacturing agreements (including Ac‑225 supply nominations and CMO/manufacturing partnerships), and investments in next‑generation radiopharmaceutical collaborations (report cites broadened partnerships such as with Molecular Partners and others). The company emphasizes positioning across isotope supply, CDMO, and platform partnerships.

Profitability drivers and one‑offs

Group adjusted EBIT growth outpaced revenue growth (EBIT adj. +18% vs. sales +5%), supported by higher‑margin license income in Medical and an improved year‑end mix. One‑time IT restoration costs reduced profit (~EUR -1.7m group; segment impacts shown separately: Medical -0.3m, Isotope -1.1m). Hyperinflation and currency effects had modest negative impacts.

Market context and outlook notes

The presentation reiterates a large addressable nuclear medicine market (MedRays Intell estimate USD 26bn by 2030) and highlights product/technology positions (Y‑90, Ga‑68, Ac‑225, Lu‑177) and pipeline/partner opportunities. The slides present strategy and selected 2025 achievements but do not provide precise numeric forward guidance in the material provided.