Uniphar reported revenue of €1.592 billion for the first half of 2026, an increase of 7.2% from €1.485 billion in the prior-year period, as the diversified healthcare services group delivered growth across all three of its divisions.
Gross profit increased 7.7% to €236.5 million, including organic growth of 6.9%, while the group gross profit margin increased to 14.9% from 14.8%.
EBITDA increased 6.2% to €61.1 million from €57.5 million. Operating profit increased 8.6% to €35.4 million, while profit before tax excluding exceptional items increased 8.5% to €31.1 million.
Adjusted earnings per share increased 11.2% to 10.9 cents, while basic EPS increased 16.7% to 7.7 cents.
Uniphar Pharma generated gross profit of €68.5 million and delivered organic gross profit growth of 7%, supported by continued progress across Global Sourcing and Pharma Services. The company remains confident that the division can achieve double-digit organic gross profit growth for the full year.
Uniphar Medtech delivered 9% organic gross profit growth, driven by demand across its core specialties, expansion into new markets, and enhancements to its product portfolio.
Uniphar Supply Chain & Retail delivered 5.6% organic gross profit growth. The company’s retail network expanded by 30 pharmacies to 512 during the period, while its wholesale operation continued to generate strong volume growth.
The company is also nearing completion of a multiyear infrastructure investment program. Its new high-tech distribution facility in Ireland is scheduled to go live in February 2027 with a phased rollout during the first half of 2027. Once fully operational, the facility is expected to more than double existing capacity in Supply Chain & Retail while supporting further scaling of the Pharma platform.
Net bank debt increased to €275.7 million from €171.1 million at the end of 2025, bringing leverage to 2.4 times. Uniphar attributed the increase primarily to the expected reversal of prior-year working capital timing benefits in the Pharma division.
The board declared an interim dividend of €0.0074 per ordinary share, representing a 4.2% increase from the prior-year period. Uniphar expects EBITDA growth to accelerate during the second half and said it remains positioned to meet full-year adjusted EPS expectations.
The company also reiterated its longer-term goal of reaching €200 million of EBITDA by 2028, with at least 80% of the growth expected to be organic.
KEY QUOTES:
“Uniphar has delivered a strong first half, with continued organic gross profit growth across the Group. Trading continues to be robust, and the business is developing in line with our expectations. We expect to sustain this progress into the second half and remain on track to meet our growth objectives for each of our three divisions for the full year. We also remain confident in our ability to reach our €200m EBITDA target by 2028, with at least 80% of growth expected to be organic.”
Ger Rabbette, Group Chief Executive Officer of Uniphar
