Klea Holding: Sales Down 15% in Third Quarter 2026, a Decline That Is Narrowing
Revenue remains below 2025 levels, but the gap with the previous year is narrowing since the low point in March. The Paris-based group listed on Euronext Growth has confirmed it is targeting a return to sales growth as early as the fourth quarter of 2026.
A 15% Decline at Constant Exchange Rates, Compared to 20% in the First Half
Klea Holding published its unaudited revenue for the third quarter of 2026 on October 8, 2026. Sales fell by 15% at constant exchange rates compared to the same period in 2025, and by 14% on a reported basis. In the first half of 2026, the decline reached 20% at constant exchange rates.
The year-on-year change is thus improving from one period to the next, without the group having yet recovered its activity level from the previous year. According to the company, the monthly revenue of its Smart Salem subsidiary is progressing steadily, month after month, since the low point reached in March 2026, marked by a sharp drop in activity. This recovery, which began in spring, is gradually reducing the year-on-year decline compared to 2025.
Smart Salem operates a network of digitized medical analysis centers in the United Arab Emirates, presented by the company as the first accredited by the Dubai Ministry of Health (DHA). The group is also present in Saudi Arabia through the joint venture Smart Health, dedicated to the deployment of centers of the same type. However, it is Smart Salem that carries the bulk of the recovery described in the quarterly publication.
When publishing its half-yearly results in late September 2026, Klea Holding had indicated that it remained profitable despite the contraction in its sales. Activity had then been penalized by the Middle East war, before rebounding from April onwards. The third quarter figures extend this trajectory of gradual recovery.
The Wellness Segment Exceeds 20% of Sales, Klea Health Launched
The health screening offer was the main growth driver for the quarter, with a 36% increase at constant exchange rates. Thanks to this momentum, the Wellness activity represents for the first time more than 20% of the group's consolidated revenue. This segment is thus progressing while total revenue remains down year-on-year.
To extend this movement, Klea Holding announced in September 2026 the launch of the Klea Health brand. The stated objective is to better highlight the group's expertise in prevention, wellness and longevity. The range should be progressively expanded, in a holistic approach to preventive health.
The group thus plans to integrate advanced health screenings, biomarker analyses, genetic testing, longevity programs, specialized consultations and corporate wellness solutions. These services should be supported by existing infrastructure and laboratories, from which the company expects a profitability lever.
On the commercial front, Klea Holding intends to leverage Smart Salem's existing customer base. The sought-after mechanism consists of offering new services to patients already present in the network, rather than rebuilding a customer base from scratch.
Klea Pharmaceuticals and Smart Salem at the Heart of the Annual Objective
Klea Holding anticipates a return to revenue growth starting in the fourth quarter of 2026, thanks to initiatives centered around three pillars. The group is relying on the continued recovery at Smart Salem and on the start of sales of its new subsidiary Klea Pharmaceuticals, expected during the same quarter.
Klea Pharmaceuticals markets a portfolio of licensed medicines in the Middle East and Africa. On September 11, 2026, the group had confirmed the commercial launch of this subsidiary in the Emirates, with 57 registered medicines.
For the full year, Klea Holding has confirmed its target of a profitable year in 2026, with net profit at least equivalent to that of 2025. The group also indicated that it continues to allocate part of its cash surplus to its share buyback program.
