Bio-UV: Stable revenue in first half 2026, EBITDA margin down to 12.5%
BIO-UV Group published its first half 2026 accounts on September 18, 2026, marked by virtually stable revenue at 20.1 M€ and an EBITDA margin down to 12.5%, compared to 17.3% a year earlier.
Behind this revenue stability, the group highlights two opposing dynamics: a +7% increase internationally, driven by Asia, against a decline in France penalized by pool activity and a commercial reorganization.
Revenue stable at 20.1 M€, supported by international operations
Over the period from January 1 to June 30, 2026, BIO-UV Group achieved consolidated revenue of 20.1 M€, virtually stable compared to the first half of 2025.
Internationally, revenue increased by +7%, driven by sales of UV and ozone solutions as well as associated service provisions in Asia. In France, sales declined due to pool activity and commercial reorganization.
International operations now represent nearly 50% of the activity of the group based in Lunel (Hérault).
EBITDA margin returns to 12.5% due to ruthenium and Chinese competition
EBITDA stood at 2.5 M€ in the first half of 2026, down 1.0 M€. The EBITDA margin came in at 12.5%, compared to 17.3% in the first half of 2025, but is above the 12.3% margin recorded for the entire 2025 fiscal year.
The group attributes this change to two factors at the level of the Products division: intense Chinese competition and an increase in the cost of ruthenium, a raw material used in the manufacture of electrolyzers.
Personnel costs declined by 3%, with average headcount reduced to 143 employees, compared to 147 on June 30, 2025 and 149 at the end of 2025, following the internalization of sales forces in France. Operating income reached 1.2 M€ (5.8% margin) and net income attributable to the group amounted to 0.7 M€, representing a net margin of 3.4%.
Annual revenue target of 38 to 42 M€ confirmed
BIO-UV Group confirmed its aim for annual revenue between 38 M€ and 42 M€, which implies sales between 18 M€ and 22 M€ in the second half of 2026, compared to 15.5 M€ in the second half of 2025. As of mid-September 2026, the global order book is slightly higher than that of the previous year at the same time, with a more substantial volume of commercial opportunities in exports.
The group continued its debt reduction policy with 1.8 M€ in net loan repayments over the half-year, following 4.3 M€ in 2025, 4.0 M€ in 2024 and 3.0 M€ in 2023. Net financial debt stood at 8.4 M€ as of June 30, 2026, compared to 7.5 M€ at the end of 2025, with available cash of 7.8 M€ compared to 10.2 M€ at the end of 2025.
The net gearing ratio came in at 20%, compared to 19% at the end of 2025 and 22% at mid-2025. The group notes that there are no dilutive instruments in circulation.
