Bastide Group: revenue up 7.5% in the first quarter, €500 million target maintained
Bastide Group published revenue of €124.3 million on November 12, 2026 for the first quarter of its 2026-2027 financial year, ended September 30. It rose 7.5% as reported and 7.1% on an organic basis.
The comparison is based on a restated base of €115.6 million, which excludes Experf, sold during the 2025-2026 financial year. Revenue reported one year earlier stood at €126.3 million before this restatement.
Respiratory care contributed most to this growth, with sales up 10.6%, while it absorbed a 4% price reduction in sleep apnea. The home healthcare provider reiterated its target of revenue of at least €500 million for the financial year.
Respiratory care up 10.6% despite a 4% price reduction
The respiratory care business generated revenue of €45.9 million during the quarter, an increase of 9.6% on an organic basis. In France, organic growth reached 6.8%, while a 4% price reduction has applied to the sleep apnea segment since April 1, 2026.
The group attributes this growth to the structural growth of the market and to market share gains. As reported, the increase in France reached 8.2%, as it includes the contribution of a small company acquired in the Lille region at the beginning of the quarter.
Internationally, respiratory care recorded growth of nearly 20%. It relies on Oxystore in Italy and Intus in the United Kingdom. In total, home healthcare services (respiratory care and nutrition-infusion-diabetes-stomatherapy) rose 8.4% as reported and 7.8% on an organic basis.
Home maintenance up 6.2%, nutrition-infusion up 4.7%
Home maintenance remains the group's largest business by size, with revenue of €52.0 million, up 6.2%. Its two components are growing at a similar pace.
Sales to healthcare institutions reached €23.4 million, up 6.7%. They were driven by rental activities, which the group presents as a priority, as well as by one-off contracts. Stores and online sales totalled €28.6 million, up 5.8%.
This latter channel benefited from higher sales of wheelchairs, following the implementation of the reform of vehicles for disabled persons (VPH). The nutrition-infusion-diabetes-stomatherapy division shows the lowest growth of the three businesses, with revenue of €26.4 million, up 4.7%.
Within this division, diabetes activity grew by more than 20%. The group explains this growth by favorable volume and price effects.
Target of at least €500 million reiterated, a dividend of €0.41 proposed
According to management, the quarter's performance confirms “the strength of its business momentum and its full confidence in achieving its annual objectives”. Bastide still targets revenue of at least €500 million in 2026-2027, a target already announced when the annual results were published on October 21, 2026.
The group also intends to maintain its current operating margin at the level of the 2025-2026 financial year, relying on continued cost control. At the results published on October 21, 2026, this current operating margin had stood at 9.0%...
