Klea Holding: Revenue Down 20% at Constant Exchange Rates in First Half, but Positive Net Income
The Middle East conflict weighed on Klea Holding's activity in the first half of 2026, with a decline in business in March followed by a rebound from April onwards.
Despite a contraction in revenue, the Paris-listed group on Euronext Growth remained profitable while continuing its investments in new healthcare activities.
Revenue Down 20% at Constant Exchange Rates, Profitability Preserved Through Cost Control
Klea Holding presented its results for the first half of 2026, closed on September 25, 2026. The half-year revenue shows a contraction of 20% at constant exchange rates and 25% in reported figures, as a result of the decline in activity that occurred in March 2026 with the outbreak of the Middle East conflict, followed by a sequential rebound from April.
In response to this context, the group indicates that it implemented immediate cost control measures. It remained profitable, with consolidated EBITDA of €1.6 million and net income of €0.3 million. After adjusting for the impact of rationalization measures, normalized EBITDA stood at €2.2 million, representing a margin rate of over 25%.
Equity of €27.9 Million and Net Debt of €1.7 Million
The group highlights a financial position with equity of €27.9 million and net financial debt of €1.7 million, representing a debt ratio of 6.0%.
Over the half-year, Klea Holding indicates it incurred €3.7 million in non-recurring cash outflows. These amounts cover the financing of Klea Pharmaceuticals' launch (€1.2 million), the repurchase of BSA and shares for a cumulative amount of €1.0 million, the repayment of a bond loan (€0.7 million), and a delay in the collection of customer receivables in July 2026 (€0.9 million).
Adjusted for these items, normalized cash flow stood at +€0.7 million.
Target of 2026 Net Income at Least Equivalent to 2025
Klea Holding confirms its aim to achieve another profitable financial year in 2026, with a net income level at least equivalent to that of 2025, driven by savings in operating and financial costs, and in growth if the upturn in activity continues. As a reminder, the 2025 financial year resulted in net income of €2.28 million.
The group intends to rely on its financial foundation to continue its strategic investments in the healthcare market in the Middle East and Africa, around three business pillars: Smart Salem (network of digitized medical analysis centers accredited in Dubai), the Smart Health joint venture in Saudi Arabia, and Klea Pharmaceuticals, a subsidiary for the commercialization of licensed medicines.
The group also indicates that it will continue to allocate a portion of its cash surpluses to its share buyback program.
