Otofarma increased revenue and volumes in the first half of 2026, but investment in its commercial, distribution and property infrastructure reduced margins and widened the loss.
Key figures
- Revenue: €8.7 million, up 8%
- Production value: €9.6 million
- Adjusted EBITDA: €0.69 million; margin 7.1%
- Net result: -€0.52 million
- Net cash: €5.0 million, from €7.1 million
- Hearing aids sold: 6,172, up 4%
Growth and investment
Higher volumes and an improved product mix supported revenue despite a temporary reduction in sales through the public-health channel. The network expanded to 4,689 affiliated pharmacies and 311 optical outlets.
Adjusted EBITDA declined from €0.83 million to €0.69 million as the group strengthened its commercial and distribution organisation. Net cash also fell after approximately €1.7 million was invested in purchasing and renovating a property in Milan.
The company
Otofarma designs, manufactures and markets hearing aids and develops tele-audiology and telemedicine services through pharmacies and optical outlets. It is listed on Euronext Growth Milan.
Primary source: Otofarma Investor Relations. Cross-check: Teleborsa, 29 September 2026.