Roche Holding Ltd

Latest Results (20.10.2025):

Roche Holding Ltd reported its financial results for the first half of 2025, demonstrating strong performance across key metrics. The company achieved a 7% increase in sales and an 11% growth in core operating profit at constant exchange rates (CER). Net income attributable to shareholders rose by 18%, and diluted earnings per share (EPS) saw an 18% increase, reflecting Roche's robust operational execution and effective cost management.

Sales Growth

Roche Holding Ltd recorded total sales of CHF 30.9 billion for the first half of 2025, marking a 7% increase compared to the same period in 2024. The Pharmaceuticals Division led the growth with a 10% rise in sales at CER to CHF 24.0 billion, driven by strong performances from products such as Phesgo, Xolair, Hemlibra, Vabysmo, and Ocrevus. Sales in the Diagnostics Division remained stable at CHF 7.0 billion.

Operating Profit

The core operating profit for the group increased by 11% at CER to CHF 12.0 billion. The Pharmaceuticals Division contributed significantly with a 13% growth in core operating profit, while the Diagnostics Division saw a 14% decline due to increased costs from healthcare pricing reforms in China and higher manufacturing expenses.

Net Income and EPS

Net income attributable to Roche shareholders reached CHF 7.4 billion, an 18% increase at CER. Diluted EPS rose to CHF 9.23, up by 18%. The strong net income performance was supported by lower impairment charges for intangible assets and effective tax management.

Free Cash Flow and Net Debt

Operating free cash flow amounted to CHF 6.1 billion, representing a 20% decrease at CER. Free cash flow saw a decline of 41% to CHF 3.3 billion, primarily due to significant payments made to Zealand Pharma. Net debt increased by 21% to CHF 21.0 billion, reflecting strategic investments and acquisitions undertaken during the period.

Divisional Performance

The Pharmaceuticals Division outperformed with a 10% sales growth at CER and a 13% increase in core operating profit. In contrast, the Diagnostics Division faced challenges with stable sales but a 14% decrease in core operating profit due to higher costs and pricing reforms.