PAUL HARTMANN

Paul Hartmann increased sales in the first half of 2026 by more than 3 percent to €1,252.0 million; adjusted EBITDA rose by almost 21 percent to €151.7 million and group net income multiplied to €57.6 million. The company confirms its targets for 2026 (moderate organic revenue growth; adjusted EBITDA €270–310 million). For 2027, however, Paul Hartmann expects negative effects due to new regulations in the statutory health insurance system and planned changes from the long-term care reform. The share has been in a downtrend since the start of the year and has recently formed a possible support around €200. » Altro su finanzen.net

In Q1 2026 Paul Hartmann increased sales by 2.7% to €623.9m and adjusted EBITDA by 9% to €77.3m, yet the share price remains near its annual low. For 2026 the company forecasts adjusted EBITDA of €270–310m; if the upper end is reached, earnings per share could be around €19, which at a share price of ~€206 would imply a P/E of under 11. International sales accounted for 68.5% in Q1. A meaningful price catalyst is not expected before the half‑year figures in early/mid‑August; the valuation looks moderately attractive for long‑term investors but requires patience. » Altro su finanzen.net

PAUL HARTMANN began fiscal 2026 with organic sales growth of 3.3% and sales revenues of EUR 623.9 million. Adjusted EBITDA rose to EUR 77.3 million, and the adjusted EBITDA margin increased to 12.4% (prior year 11.7%). Growth came mainly from wound care, incontinence management and infection management, while the complementary divisions declined, in particular due to Kneipp. The company expects further moderate organic growth and forecasts adjusted EBITDA for 2026 of between EUR 270 million and EUR 310 million; rising material, energy and freight costs should be largely offset by price and cost measures. » Altro su finanzen.net