medmix Ltd

Latest Results (08.11.2025):

medmix Ltd’s H1 2024 results show that in the first half of 2024 the group generated CHF 241.2 million in revenue—a slight year‐on‐year decline of 2.8% (organic down 6.1%). While the Dental segment delivered robust organic growth and signs of recovery, challenges persisted in the Drug Delivery and Surgery segments. Adjusted EBITDA declined by 7.4% to CHF 46.0 million, although key cash flow indicators improved significantly. As a result, medmix Ltd has revised its full‐year 2024 guidance downward to reflect ongoing softness in end‐markets.

Revenue Performance

In H1 2024, medmix Ltd reported group revenue of CHF 241.2 million, representing a modest reported decline of 2.8% and a 6.1% organic downturn. The Healthcare division (CHF 82.9 million) and Consumer & Industrial division (CHF 158.3 million) reflected contrasting market dynamics, with the former affected by segment shifts and the latter maintaining relative stability.

Profitability and Cash Flow

Despite lower volumes impacting profitability—with business area gross profit margins improving by 30 basis points and adjusted EBITDA dropping to CHF 46.0 million (a 7.4% decline)—medmix Ltd achieved a strong improvement in operating net cash flow, which increased by 77.1% to CHF 23.9 million. This performance was also supported by a significant reduction in capital expenditure, bolstering free cash flow.

Market Segment Dynamics

The report highlights robust organic growth in the Dental segment (+3.2% year‐on‐year and +5.5% sequentially), while the Drug Delivery segment experienced an 18.5% organic decline due to a planned volume shift to an alternative supplier. The Surgery segment also saw a 22.8% organic drop following an exceptionally strong year-end in 2023, and the Beauty segment’s performance was influenced by recalibrated launch activity.

Guidance and Strategic Initiatives

medmix Ltd has reduced its full-year 2024 guidance amid ongoing market softness, now expecting organic revenue growth to be flat to negative and adjusted EBITDA margins in the range of 18% to 19%. The company is investing in operational excellence with initiatives such as the new ISO-certified Healthcare plant in Atlanta and progress at the Valencia site, underscoring its commitment to long-term profitable growth.