The French in vitro diagnostics specialist reported 2025 annual results characterized by solid commercial momentum and the ramp-up of its proprietary test ranges, despite a challenging pricing environment in France and reorganization costs in Europe.
Eurobio Scientific posted revenue of 168 million euros for the 2025 fiscal year, representing a 9% increase compared to 2024. While pro-forma growth (excluding acquisitions) was more modest at +2.3%, the group is reaping the rewards of its integration strategy: acquisitions in Italy and the integration of oncology lines (EndoPredict, Prolaris) injected nearly 10 million euros in additional revenue.
The highlight of this release is the performance of proprietary products, with sales jumping 20%. They now account for 35% of total revenue (up from 32% in 2024), a critical lever for the group's future margins.
Margins impacted by restructuring and regulation
Despite volume growth, operating profitability remained flat. EBITDA came in at 27.4 million euros, identical to last year's level. This stability masks two headwinds: price erosion in France (reimbursement policies are structurally weighing on gross margin - 45.5%, down 0.8 points) and European reorganization (the group closed its production site and sales office in Germany to repatriate operations to France, incurring non-recurring costs).
Net income stood at 4.9 million euros, a slight increase, while free cash flow held steady at 6 million euros. The financial position remains healthy with a cash balance of 20.6 million euros.
The shadow of 2027: the Seegene pivot
The group used this publication to reiterate a major upcoming challenge: its long-standing partner Seegene (which accounts for 48 million euros in revenue, or nearly 30% of current business) has announced its intention to distribute its products directly in France starting January 1, 2027.
However, Eurobio tempered investor concerns by specifying that contractual clauses will allow it to honor certain public and private contracts for up to three years after that date, ensuring a gradual transition.
Eurobio Scientific is a key player in the field of specialty in vitro diagnostics. It is involved from research to manufacturing and commercialization of diagnostic tests in the fields of transplantation, immunology and infectious diseases, and sells instruments and products for research laboratories, including biotechnology and pharmaceutical companies. Through many partnerships and a strong presence in hospitals, Eurobio Scientific has established its own distribution network and a portfolio of proprietary products.
The group has approximately 360 employees, three production units based in the Paris region, in Germany and in the United States, and subsidiaries in Milan in Italy, Dorking in the United Kingdom, Sissach in Switzerland, Bünde in Germany and Utrecht in the Netherlands.
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