BIOHIT GROUP FINANCIAL STATEMENT RELEASE 2025 (unaudited)
Biohit Oyj Financial Statement Release 11 February 2026 at 9:30 am local time (EET)
SUMMARY
January-December 2025
- Revenue EUR 15.7 million (EUR 14.3 million)
- Revenue grew by 10.1% compared to 2024
- Operative EBITDA EUR 3.5 million (EUR 3.0 million)
- Cash at the end of the period EUR 3.5 million (EUR 3.7 million)
- Revenue from international operations 98.4% (98.5%) of total revenue
- Equity ratio 75.4% (78.6%)
July-December 2025
- Revenue EUR 8.3 million (EUR 6.9 million)
- Revenue increased by 20.7% compared to H2/2024
- Operative EBITDA EUR 2.1 million (EUR 1.5 million)
BIOHIT GROUP KEY FIGURES
| 7-12/2025 | 7-12/2024 | Change,% | 1-12/2025 | 1-12/2024 | Change,% | |
| Revenue (MEUR) | 8.3 | 6.9 | 20.7% | 15.7 | 14.3 | 10.1% |
| EBITDA (MEUR) | 2.1 | 1.4 | 48.2% | 3.5 | 2.9 | 19.7% |
| % of revenue | 25.3% | 20.6% | 22.0% | 20.3% | ||
| Operative EBITDA (MEUR) | 2.1 | 1.5 | 44.0% | 3.5 | 3.0 | 15.5% |
| % of revenue | 25.7% | 21.5% | 22.2% | 21.2% | ||
| Operating profit/loss (MEUR) | 1.7 | 1.2 | 40.4% | 2.9 | 2.6 | 14.4% |
| % of revenue | 21.0% | 18.0% | 18.6% | 17.9% | ||
| Profit/loss before taxes (MEUR) | 1.7 | 1.4 | 23.6% | 2.9 | 2.9 | 1.2% |
| Profit/loss for the period (MEUR) | 1.8 | 1.3 | 36.1% | 2.7 | 2.6 | 6.6% |
| % of revenue | 21.7% | 19.2% | 17.4% | 18.0% | ||
| Average number of personnel | 47 | 46 | 2.2% | 48 | 46 | 4.3% |
| Number of personnel at the end of the period | 46 | 46 | 0.0% | 46 | 46 | 0.0% |
| Equity ratio (%) | 75.4% | 78.6% | -4.1% | 75.4% | 78.6% | -4.1% |
| Earnings per share (EUR), Undiluted | 0.12 | 0.09 | 36.0% | 0.18 | 0.17 | 6.4% |
| Earnings per share (EUR), Diluted | 0.12 | 0.09 | 34.8% | 0.18 | 0.17 | 5.5% |
| Shareholders' equity per share (EUR) | 0.98 | 0.80 | 22.4% | 0.98 | 0.80 | 22.4% |
| Average number of shares during the period | 15,192,310 | 15,177,723 | 0.1% | 15,188,131 | 15,161,374 | 0.2% |
| Number of shares at the end of the period | 15,197,593 | 15,181,593 | 0.1% | 15,197,593 | 15,181,593 | 0.1% |
PRESIDENT AND CEO JUSSI HAHTELA:
CEO's review: Growth Driven by Royalties
The year 2025 was a turning point for Biohit in many respects. Our revenue grew to EUR 15.7 million, representing growth of 10.1% compared with the previous year. Operating profit amounted to EUR 2.9 million, resulting in an operating margin of 18.6%.
During the first half of the year, escalation in the Middle East kept us on the starting blocks, and revenue increased by only 0.3% compared with the reference period. In the second half of the year, the pace accelerated and growth reached 20.7% year-on-year. Deliveries interrupted in the Middle East were resumed, although volumes remained at only half of previous levels.
Growth was strongest in royalty income. The multi-year royalty agreement signed with Hefei in 2022 was extended in the autumn, and at the same time closer cooperation was agreed in relation to product development. Royalty income increased to EUR 5.4 million from EUR 2.8 million in the previous year.
Among product groups, rapid tests showed the strongest growth. Sales of rapid tests increased by 28.7% compared with the previous year.
GastroPanel is still far from reaching its full potential, but its importance continues to grow. The regional focus remained in Asia, but sales have also developed positively elsewhere. Notably, sales exceeding the contractual minimum purchase volumes increased by 96.8% during the financial year.
At the end of 2025, a strategically significant decision was made regarding Biohit's operating model. It was decided to close the Italian subsidiary and, going forward, to cover the Italian market through a more cost-efficient distributor model. The better-scalable UK subsidiary will continue to operate unchanged.
Net cash flow from operating activities was negative, unlike in previous years. The key factors were the timing of cash flows related to OEM deliveries across the financial year-end and an increase in long-term contract assets.
Growing Momentum for GastroPanel
Biohit's flagship product and most important growth driver is GastroPanel. Its value proposition is clear: GastroPanel enables accurate and reliable diagnosis of upper gastrointestinal symptoms in primary healthcare. The benefits are evident-cost efficiency and faster access to treatment.
In 2025, there was a clear shift in GastroPanel's momentum. The first turning point was seen as early as January, when a study published by London's Homerton University Hospital confirmed GastroPanel as an accurate triage test for identifying patients at high risk of gastric cancer.
Homerton is part of a long continuum of positive GastroPanel studies, but timing in this case was particularly significant. Healthcare systems are visibly under strain. The need for more efficient allocation of scarce healthcare resources is global. The Homerton study clearly increased interest in a product that directly addresses this need.
For Biohit, the most significant event of the year was the inclusion of GastroPanel in Chile's national clinical treatment guidelines.
The results of the Chilean pilot study were unequivocal. GastroPanel reduced the number of endoscopies by two thirds, benefiting both patients and society as a whole.
Entering 2026 with the Lessons of the Previous Year
The year 2025 provides a solid foundation for our operations in 2026. We have identified a functioning business model through which we systematically roll out GastroPanel stakeholder by stakeholder, via professional opinion leaders, to end users.
Inspired by the Chilean example, similar pilots are under way in other South American countries. In Europe, two validation studies will be launched in early 2026, and clinical studies related to FDA approval in the United States are also planned to begin during 2026.
Our objective is clear: to have GastroPanel included in the national treatment guidelines of as many countries as possible. We are working toward this goal. The greatest unpredictable variable is the timeline. The time required for change and its translation into revenue has so far been slower than expected.
GastroPanel's outlook is better than ever, but our guidance for 2026 is more cautious than in previous years. This is due to two factors.
First, GastroPanel validations and implementations have consistently taken longer than expected, and it is not realistic to assume that the process will accelerate significantly.
Second, despite the extension agreement in 2025, the recognition of royalties from the multi-year distribution agreement signed with Hefei in 2022 is approaching its end. At the current growth trajectory, GastroPanel sales may not be able to compensate for the declining royalties as quickly as originally anticipated.
Royalties have been recognized in profit in accordance with the applicable reporting framework (IFRS) faster than the actual cash flows.
Guidance for 2026:
Financial targets
We expect revenue in 2026 to increase to EUR 16.5-17.3 million (growth of 5-10% compared with 2025) and the operating margin to be at least 10%.
In 2025, revenue was EUR 15.7 million, with revenue growth of 10.1%. The operating margin was 18.6%.
Underlying assumptions for the guidance
- GastroPanel validations and implementations have consistently taken longer than expected, and it is not realistic to assume that the process will accelerate significantly.
- Despite the extension agreement in 2025, the recognition of royalties from the multi-year distribution agreement signed with Hefei in 2022 is approaching its end. At the current growth trajectory, GastroPanel sales may not be able to compensate for the declining royalties as quickly as originally anticipated.
REPORTING
Biohit's product portfolio consists of diagnostic tests, analysis systems, products binding carcinogenic acetaldehyde into a harmless compound and monoclonal antibodies. The entire product and service portfolio is reported under a single segment.
REVENUE AND RESULT
January-December
Consolidated revenue and operating profit
| 7-12/2025 | 7-12/2024 | Change | Change, % | 1-12/2025 | 1-12/2024 | Change | Change,% | |
| Revenue MEUR | 8.3 | 6.9 | 1.4 | 20.7% | 15.7 | 14.3 | 1.4 | 10.1% |
| Change compared with the previous year (%) | 20.7% | 4.6% | 10.1% | 9.2% | ||||
| Operating income MEUR | 1.7 | 1.2 | 0.5 | 40.4% | 2.9 | 2.6 | 0.4 | 14.4% |
| Operating income (% of revenue) | 21.0% | 18.0% | 18.6% | 17.9% |
REVENUE BY MARKET AREA
| EUR million | 7-12/2025 | 7-12/2024 | Change,% | 1-12/2025 | 1-12/2024 | Change,% |
| Finland | 0.1 | 0.1 | 40.6% | 0.2 | 0.2 | 19.6% |
| Europe, other | 2.7 | 2.7 | 0.3% | 5.6 | 5.7 | -3.3% |
| North and South America | 0.2 | 0.2 | -8.8% | 0.4 | 0.3 | 18.0% |
| Asia | 3.8 | 2.6 | 47.6% | 6.9 | 5.2 | 33.1% |
| Other countries | 1.5 | 1.3 | 12.8% | 2.7 | 2.9 | -5.9% |
| Revenue from contracts with customers | 8.3 | 6.9 | 20.7% | 15.7 | 14.3 | 10.1% |
ALTERNATIVE PERFORMANCE MEASURES
Bridge calculation of EBITDA
| EUR million | 7-12/2025 | 7-12/2024 | Change | 1-12/2025 | 1-12/2024 | Change |
| Operating profit/loss | 1.7 | 1.2 | 0.5 | 2.9 | 2.6 | 0.4 |
| Depreciation and amortization | 0.4 | 0.2 | 0.2 | 0.5 | 0.3 | 0.2 |
| EBITDA | 2.1 | 1.4 | 0.7 | 3.5 | 2.9 | 0.6 |
Bridge calculation of operative EBITDA
| EUR million | 7-12/2025 | 7-12/2024 | Change | 1-12/2025 | 1-12/2024 | Change |
| Operating profit/loss | 1.7 | 1.2 | 0.5 | 2.9 | 2.6 | 0.4 |
| Depreciation and amortization | 0.4 | 0.2 | 0.2 | 0.5 | 0.3 | 0.2 |
| IFRS 2 Share based payments | 0.0 | 0.1 | -0.0 | 0.0 | 0.1 | -0.1 |
| Operative EBITDA | 2.1 | 1.5 | 0.7 | 3.5 | 3.0 | 0.5 |
BALANCE SHEET, FINANCING AND OPERATIONAL CONTINUITY
On 31 December 2025 the balance sheet totalled EUR 19.8 million (EUR 15.5 million on 31 Dec 2024). At the end of the reporting period our equity ratio stood at 75.4% (78.6% 31 Dec 2024).
Profitable financial period increased the balance sheet.
Biohit Oyj has a stable financial position. On 31 December 2025, the company's financial assets totalled EUR 4.6 million (EUR 6.6 million) which does not include Genetic Analysis AS shares.
The company has managed to keep its working capital on a good level and the management believes that working capital will cover the operations for the next 12 months and the company is not dependent on external financing to be able to guarantee the continuity of its operations.
Cash flow from operating activities was EUR -0.7 million during the review period and EUR 0.2 million during the second half of the year. The company's management assessment is that the company's ability to continue its operations is good and there are no indications of events or circumstances that alone or combined might give a significant reason to doubt the organisation's ability to continue its operations.
RESEARCH AND DEVELOPMENT AS WELL AS CLINICAL STUDIES
Research and development activities focus on innovation as well as product development and improvements in usability. The Company also utilizes external experts and subcontractors in its research and development activities.
In 2025, development costs of EUR 0.4 million were capitalized (2024: EUR 0.3 million). Research and development expenses, excluding depreciation, amounted to EUR 1.3 million during the review period 1 January-31 December 2025 (EUR 1.1 million), of which EUR 0.6 million related to the second half of the year (first half: EUR 0.7 million). During the financial year, an impairment loss of EUR 0.13 million was recognized on the Biohit Tube intangible asset. The recognition was based on an updated assessment of the product's future cash flows.
As in previous years, ensuring compliance with IVDR and MDR regulatory requirements required significant resources, as anticipated.
Several clinical studies were ongoing in 2025. In January, a study conducted by Homerton University Hospital in London was published, concluding that GastroPanel is an accurate triage tool. Pilot studies in Chile led to the inclusion of GastroPanel in national guidelines. GastroPanel studies are also ongoing in other South American countries and in Vietnam. In Europe, preparations for two separate GastroPanel validation studies were initiated in 2025. Preparatory work was also carried out for the clinical studies required for FDA approval in the United States.
INVESTMENTS
Gross investments during the the 1-12/2025 reporting period totalled EUR 0.6 million (EUR 0.4 million).
PERSONNEL
During the review period, the Biohit Group employed on average 48 (46) people of whom 38 (36) were employed by the parent company and 10 (10) by the subsidiaries.
SHORT-TERM RISKS AND UNCERTAINTY FACTORS
Biohit's key risks are related to the success of product registrations as well as the selection and development of new market areas and distribution channels.
The diagnostic industry is heavily regulated, and this may have an effect on Biohit's sales. The duration of the product registration process is different in each market area. For this reason, conquering new markets may be slow.
It is also critical to implement the changes required by the new IVDR EU regulation so that sales of the existing products can continue.
When investing liquid assets, the objective is to gain a return on investment with a low risk of equity loss. The investment portfolio consists of deposits, investment funds and corporate loans. A fundamental aspect in portfolio management is sufficient diversification across different asset classes, investment instruments and counterparties. The investment portfolio is subject to equity risk that is managed by diversification and allocation decisions. The portfolio is also subject to interest rate risk, which is managed by adjusting the duration of the portfolio. In addition, general instability in the financial markets may have a negative impact on the value of the investment portfolio.
The Group's investment in listed Genetic Analysis AS is subject to changes in share price and the EUR/NOK foreign exchange rate.
Biohit's customer base is widely diversified, with the exception of GastroPanel® sales in China, which currently represents a major single business for Biohit. Biohit HealthCare (Hefei) Co. Ltd. has, based on a security agreement signed on 8 February 2022, pledged to Biohit 1,500,000 class B Biohit shares as security for its obligations referred to therein. The pledge significantly decreases the risks that are related to sales in China.
Single customer or geographical territory related risk may have a financial impact. However, Biohit's customer base is widely diversified and thus the company is not significantly dependent on individual customers or project deliveries.
The balance sheet and sales of Biohit's UK subsidiary are in GBP. As a result, Biohit is exposed to the risk of GBP weakening. Otherwise, most of the company's business is conducted in EUR and the indirect effects of the currency exchange rate fluctuations are considered insignificant.
ANNUAL GENERAL MEETING 2025 AND AUTHORIZATRIONS OF THE BOARD OF DIRECTORS
The Annual General Meeting (AGM) of Biohit Oyj held on Wednesday June 5, 2025 approved the financial statements for the financial year 2024. AGM decided to discharge the members of the Board of Directors and the President and CEO from liability for the financial year 2024. AGM decided to approve the Remuneration Report of the company's Governing Bodies and Remuneration Policy presented to the AGM. The decisions on the Remuneration Report and Remuneration Policy are advisory.
Distribution of dividends
The AGM resolved in accordance with the proposal of the Board of Directors that no dividend is paid for the financial period ended on December 31, 2024.
Members of the Board of Directors
The AGM resolved that five (5) members are elected to the Board of Directors and that CEO Liu Feng, CEO Kalle Härkönen, Ph.D. Lea Paloheimo, LL.D, Lic (BA) Vesa Silaskivi and Professor Osmo Suovaniemi are elected as members of the Board of Directors until the end of the next AGM.
Additionally, the AGM resolved that the Chairman of the Board of Directors is paid a monthly fee of EUR 2,500 and the other members of the Board of Directors are paid a monthly fee of EUR 2,000.
Board of Directors elected in its constitutive meeting held right after the AGM, LL.D, Lic (BA) Vesa Silaskivi as the Chairman of the Board of Directors.
Election of the Auditor and remuneration for the Auditor
The AGM elected authorized public accountants PricewaterhouseCoopers Oy as the company's auditor until the end of the next AGM and that the auditor is paid remuneration according to invoice approved by the company.
BOARD'S PROPOSAL FOR DISTRIBUTIONS OF PROFIT
The parent company's distributable funds (unrestricted equity) on 31 December 2025 are
EUR 10,821,659.98 of which the period net profit is EUR 2,782,440.57. The Board of Directors proposes to the Annual General Meeting that no dividend be paid for the fiscal year.
FLAGGING NOTIFICATIONS
During the financial year 2025, the Company received and published flagging notifications pursuant to the Finnish Securities Markets Act regarding changes in major shareholdings and voting rights. Biohit Healthcare (Hefei) Co., Ltd's combined holding of shares and voting rights in Biohit Oyj fell below the 30% threshold on 5 November 2025 and below the 25% threshold on 28 November 2025. In addition, Biohit Healthcare (Hefei) Co., Ltd's combined voting rights fell below the 25% threshold on 3 December 2025. Osmo Suovaniemi and his controlled company Interlab Oy's combined holding of shares and voting rights exceeded the 15% threshold on 5 November 2025 and the 20% threshold on 28 November 2025.
MAIN EVENTS IN THE SECOND HALF OF THE YEAR (H2)
The company announced on 10 October 2025 that a total of 12,000 new Series B shares in Biohit Plc were subscribed for during the period from 14 March 2025 to 5 September 2025 on the basis of the I 2021C and I 2022C option rights. A total of 8,000 new Series B shares were subscribed for on the basis of the I 2021C option rights and a total of 4,000 new Series B shares were subscribed for on the basis of the I 2022C option rights. The shares in question were registered with the Finnish Trade Register on 19 September 2025 and, as from the registration date, carry the same rights as the company's existing Series B shares.
As a result of the subscriptions, the total number of shares in Biohit Plc will increase to 15,197,593 and the number of Series B shares will increase to 12,222,093.
On 12 November 2025, the Company announced that the Chilean Ministry of Health has incorporated biomarker-based diagnostic methods into its national gastrointestinal cancer prevention strategy, which aims to reduce mortality from gastric and colorectal cancer through early detection. The strategy includes a serological gastric panel (pepsinogen I and II, gastrin-17b and Helicobacter pylori antibodies), the scientific concept and methodology of which are based on Biohit's GastroPanel® technology, thereby making GastroPanel® technology part of Chile's public healthcare system.
MAJOR EVENTS AFTER THE CLOSE OF THE REVIEW PERIOD
The Company's Chief Technology Officer and member of the Management Team, Panu Hendolin, left the Company on 14 January 2026. He was succeeded on the Management Team by the Head of Product Development, Kati Piironen, PhD in Pharmaceutical Chemistry.
The Company's management is not aware of any other material events occurring after the balance sheet date.
ADMINISTRATION
Biohit's financial reporting and Annual General Meeting in 2026
Biohit Oyj's Annual General Meeting has been planned for Wednesday 3 June 2026 in Helsinki. The Board of Directors will call the General Meeting at a later date. In 2026 the company will publish the half-year financial report for period January - June 2026 (H1) at 9:30 am on Wednesday 5 August 2026.
The Company will publish its Annual Report for 2025, including the Financial Statements and the Report of the Board of Directors for 2025, the Corporate Governance Statement, and the Remuneration Report, on 18 March 2026 on the company's website.
Biohit Oyj's Management Team
On December 31, 2025, the members of Biohit's Management Team were: CEO Jussi Hahtela, CFO Jussi Sorvo, Production Director Suvi Elomaa, Research and Development Director Panu Hendolin, Head of Global Sales and Marketing Graham Johnson and Quality and Regulatory Affairs Director Daniela Söderström.
Panu Hendolin left the Company on 14 January 2026, and the Head of Product Development, Kati Piironen, was appointed as a member of the Management Team in his place.
SHARES AND SHAREHOLDERS
Biohit Oyj's number of shares is 15,197,593 (15,181,593), of which 2,975,500 (2,975,500) are Series A shares and 12,222,093 (12,206,093) are Series B shares. The Series B shares are quoted on NASDAQ Helsinki in the Small cap/Healthcare group under the code BIOBV.
| BIOBV/NASDAQ OMX Helsinki | 1-12/2025 | 1-12/2024 |
| High (EUR) | 4.35 | 2.65 |
| Low (EUR) | 2.31 | 1.80 |
| Average (EUR) | 3.06 | 2.11 |
| Latest (EUR) | 3.69 | 2.29 |
| Turnover (EUR) | 15,789,369 | 5,837,490 |
| Turnover volume | 5,154,435 | 2,767,265 |
| Market cap 31.12 MEUR | 56.1 | 34.8 |
Shareholders
At the end of the reporting period on 31 December 2025 the company had 8,921 shareholders (8,270 on 31 December 2024). Private households held 60.7% (60.1%), companies 14.8% (5.5%) and public sector organisations 0.0% (0.0%). Foreign ownership or nominee registrations accounted for 24.5% (34.4%) of shares.
Further information on the shares, major shareholders and management shareholdings is available on the company's website.
ACCOUNTING PRINCIPLES
This financial statement release has been prepared in accordance with the requirements of the IAS 34 Interim Financial Reporting standard. The consolidated financial statements were prepared in compliance with the same principles used in 2024. Amendments to IFRS Standards effective as of 1 January 2025 have no material impact on the consolidated financial statements
Alternative performance measures and items affecting comparability:
Biohit Group presents certain alternative performance measures to reflect the underlying business performance and to enhance comparability between financial periods according to European Securities and Markets Authority, ESMA's guidance. Alternative performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS. Operative performance measures have been adjusted for certain non-operative items or non-cash valuation items that affect comparability between periods.
Certain items that are not related to the underlying business or non-cash valuation items that have material effect on the profit and loss for the period are adjusted as items affecting comparability. These items can arise for example from:
- Impairment of assets
- Sale or acquisition of asset or business
- Share based payment expenses in accordance with IFRS 2
Additionally Biohit Oyj presents the following alternative performance measures:
| EBITDA | EBIT + depreciation and amortization |
| Operative EBITDA | EBIT + depreciation and amortization - Items affecting comparability |
CONSOLIDATED INCOME STATEMENT
| EUR million | 7-12/2025 | 7-12/2024 | Change | 1-12/2025 | 1-12/2024 | Change |
| Revenue | 8.3 | 6.9 | 1.4 | 15.7 | 14.3 | 1.4 |
| Change in inventories of finished goods and work in progress | -0.1 | -0.0 | -0.1 | -0.2 | 0.2 | -0.5 |
| Other operating income | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | -0.0 |
| Materials and services | -2.3 | -2.2 | -0.1 | -4.7 | -5.2 | 0.4 |
| Employee benefit expenses | -2.2 | -2.1 | -0.1 | -4.2 | -4.0 | -0.2 |
| Impairment losses on financial assets | -0.2 | 0.0 | -0.2 | -0.2 | 0.0 | -0.2 |
| Other operating expenses | -1.5 | -1.2 | -0.3 | -2.9 | -2.5 | -0.4 |
| EBITDA | 2.1 | 1.4 | 0.7 | 3.5 | 2.9 | 0.6 |
| Depreciation and amortization | -0.4 | -0.2 | -0.2 | -0.5 | -0.3 | -0.2 |
| Operating profit/loss | 1.7 | 1.2 | 0.5 | 2.9 | 2.6 | 0.4 |
| Financial income | 0.1 | 0.3 | -0.2 | 0.1 | 0.6 | -0.5 |
| Financial expenses | -0.1 | -0.1 | 0.0 | -0.1 | -0.3 | 0.2 |
| Profit/loss before taxes | 1.7 | 1.4 | 0.3 | 2.9 | 2.9 | 0.0 |
| Income taxes | 0.1 | -0.1 | 0.2 | -0.2 | -0.3 | 0.1 |
| Profit/loss for the financial period | 1.8 | 1.3 | 0.5 | 2.7 | 2.6 | 0.2 |
| Items of comprehensive income that may later be reclassified through profit or loss | ||||||
| Translation differences | -0.0 | 0.0 | -0.0 | -0.1 | 0.0 | -0.1 |
| Items that will not be reclassified to profit or loss | ||||||
| Changes in the fair value of equity investments at fair value through other comprehensive income | -0.0 | -0.0 | 0.0 | 0.0 | -0.0 | 0.1 |
| Other comprehensive income total | -0.0 | -0.0 | -0.0 | -0.0 | 0.0 | -0.0 |
| Comprehensive income for the period | 1.8 | 1.3 | 0.4 | 2.7 | 2.6 | 0.1 |
Earnings per share calculated from earnings attributable to the owners of the parent company
| 1-12/2025 | 1-12/2024 | |
| Undiluted earnings per share, (EUR) | 0.18 | 0.17 |
| Diluted earnings per share, (EUR) | 0.18 | 0.17 |
CONSOLIDATED BALANCE SHEET
| EUR million | 31.12.2025 | 31.12.2024 |
| ASSETS | ||
| NON-CURRENT ASSETS | ||
| Intangible assets | 0.7 | 0.5 |
| Property, plant and equipment | 0.4 | 0.2 |
| Right-of-use assets | 1.5 | 0.5 |
| Contract assets | 7.5 | 3.2 |
| Other financial long-term assets | 0.1 | 0.1 |
| Deferred tax assets | 0.4 | 0.0 |
| Total non-current assets | 10.6 | 4.6 |
| CURRENT ASSETS | ||
| Inventories | 0.8 | 1.0 |
| Trade and other receivables | 3.6 | 3.2 |
| Other current financial assets | 1.3 | 3.0 |
| Cash and cash equivalents | 3.5 | 3.7 |
| Total current assets | 9.1 | 11.0 |
| TOTAL ASSETS | 19.8 | 15.5 |
| SHAREHOLDERS' EQUITY AND LIABILITIES | ||
| Shareholders' equity attributable to the owners of the parent company | ||
| Share capital | 2.4 | 2.4 |
| Fair value reserve | -1.9 | -1.9 |
| Invested unrestricted equity fund | 5.3 | 5.3 |
| Translation differences | -0.1 | -0.0 |
| Retained earnings | 9.3 | 6.5 |
| Total shareholders' equity | 14.9 | 12.2 |
| NON-CURRENT LIABILITIES | ||
| Lease liabilities | 1.3 | 0.3 |
| Deferred tax liabilities | 0.0 | 0.0 |
| Other liabilities | 0.0 | 0.0 |
| Total non-current liabilities | 1.3 | 0.3 |
| CURRENT LIABILITIES | ||
| Trade payables | 1.0 | 0.7 |
| Tax liabilities | 0.8 | 0.4 |
| Lease liabilities | 0.3 | 0.3 |
| Other liabilities | 1.4 | 1.6 |
| Total current liabilities | 3.6 | 3.0 |
| Total liabilities | 4.9 | 3.3 |
| TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES | 19.8 | 15.5 |
STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
Statement of changes in consolidated shareholders' equity on 31 December 2025
| EUR million | Share capital | Invested unrestricted equity fund | Translation differences | Fair value reserve | Retained earnings | Shareholders' equity |
| Shareholders' equity 1 January 2025 | 2.4 | 5.3 | -0.0 | -1.9 | 6.5 | 12.2 |
| Share based payments | 0.0 | 0.0 | ||||
| Share subscription | 0.0 | 0.0 | ||||
| Adjustments of translation differences | 0.0 | 0.0 | ||||
| Total comprehensive income for the period | -0.1 | 0.0 | 2.7 | 2.7 | ||
| Shareholders' equity 31 December 2025 | 2.4 | 5.3 | -0.1 | -1.9 | 9.3 | 14.9 |
Statement of changes in consolidated shareholders' equity on 31 December 2024
| EUR million | Share capital | Invested unrestricted equity fund | Translation differences | Fair value reserve | Retained earnings | Shareholders' equity |
| Shareholders' equity 1 January 2024 | 2.4 | 5.2 | -0.1 | -1.9 | 3.8 | 9.4 |
| Share based payments | 0.1 | 0.1 | ||||
| Share subscription | 0.1 | 0.1 | ||||
| Adjustments of translation differences | 0.0 | 0.0 | ||||
| Total comprehensive income for the period | 0.0 | -0.0 | 2.6 | 2.6 | ||
| Shareholders' equity 31 December 2024 | 2.4 | 5.3 | -0.0 | -1.9 | 6.5 | 12.2 |
FINANCIAL ASSETS MEASURED AT FAIR VALUE 31.12.2025
FINANCIAL ASSETS MEASURED AT FAIR VALUE 31.12.2024
*Investment in the listed Genetic Analysis AS. Genetic Analysis AS listed on October 1, 2021 in the Swedish Spotlight Stock Market exchange. Despite the Swedish Stock Exchange, the share price is quoted in NOK. Financial assets on level 1 and 2 consist of equity and fixed income funds and corporate loans. The company has classified the hierarchies of financial assets according to the availability of data on market terms and other price data. Fair value of Level 1 instruments are based on the quoted market prices. Fair value of level 2 instruments can be obtained either directly (as a price) or indirectly (as a derivative of the price). The book value of trade and other receivables and payables and cash and cash equivalents which are measured at amortized cost corresponds to their fair value due to their short maturities. |
CASH FLOW STATEMENT
| EUR million | 7-12/2025 | 7-12/2024 | Change | 1-12/2025 | 1-12/2024 | Change |
| CASH FLOW FROM OPERATING ACTIVITIES | ||||||
| Profit for the period | 1.8 | 1.3 | 0.1 | 2.7 | 2.6 | -0.2 |
| Adjustments | ||||||
| Depreciation | 0.4 | 0.2 | 0.2 | 0.5 | 0.3 | 0.2 |
| Income taxes | -0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.2 |
| Other adjustments | 0.2 | -0.1 | 0.3 | 0.2 | -0.2 | 0.4 |
| Change in working capital | -1.9 | 0.7 | -2.6 | -4.5 | -2.5 | -1.9 |
| Interest paid and payments on other operating financial expenses | -0.0 | -0.0 | -0.0 | -0.1 | -0.0 | -0.0 |
| Interest received | 0.0 | 0.2 | -0.1 | 0.3 | 0.4 | -0.1 |
| Realised exchange rate gains and losses | -0.0 | -0.0 | -0.0 | -0.1 | 0.0 | -0.1 |
| Income taxes paid | -0.1 | -0.2 | 0.1 | -0.1 | -0.2 | 0.1 |
| Net cash flow from operating activities | 0.2 | 2.1 | -1.9 | -0.7 | 0.6 | -1.3 |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investments in tangible and intangible assets | -0.4 | -0.2 | -0.3 | -0.6 | -0.4 | -0.2 |
| Investments in funds and deposits | -0.0 | -0.1 | 0.1 | -0.1 | -1.0 | 0.9 |
| Profit from the sale of investments in funds and deposits | 0.3 | -0.3 | 1.6 | 1.5 | 0.1 | |
| Loans granted | 0.0 | -0.0 | -0.0 | 0.0 | ||
| Repayment of loans | 0.0 | 0.0 | ||||
| Net cash flow from investments | -0.4 | 0.0 | -0.5 | 1.2 | 0.1 | 1.1 |
| CASH FLOW FROM FINANCING ACTIVITIES | ||||||
| Exercise of share options | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | -0.1 |
| Repayment of lease liabilities | -0.1 | -0.2 | 0.0 | -0.3 | -0.3 | -0.0 |
| Net cash flow from financing activities | -0.1 | -0.1 | 0.0 | -0.3 | -0.2 | -0.1 |
| Increase (+)/decrease (-) in cash and cash equivalents | -0.4 | 2.0 | -2.3 | -0.2 | 0.4 | -0.6 |
| Cash and cash equivalents at the beginning of the period | 3.9 | 1.8 | 2.1 | 3.7 | 3.3 | 0.5 |
| Effect of exchange rates on cash and cash equivalents | -0.0 | 0.0 | -0.0 | -0.0 | 0.0 | -0.1 |
| Cash and cash equivalents at the end of the period | 3.5 | 3.7 | -0.2 | 3.5 | 3.7 | -0.2 |
RELATED PARTY TRANSACTIONS
Biohit Oyj sold EUR 6.4 million (EUR 4.9 million) worth of goods, services and licenses to Biohit Healthcare (Hefei) Co. Ltd during the review period. Biohit Oyj's total renumeration for the Board of Directors was EUR 0.2 million (EUR 0.2 million) during the review period.
COLLATERAL, CONTINGENT LIABILITIES AND OTHER COMMITMENTS
| EUR million | 31.12.2025 | 31.12.2024 |
| Collateral granted on behalf of the parent company | ||
| Guarantees | 0.0 | 0.0 |
| Collateral and contingent liabilities total | 0.0 | 0.0 |
NEXT FINANCIAL REPORT
The half-year financial report for January - June 2026 (H1) will be published at 9:30 am local time (EET) on Wednesday 5 August 2026.
Helsinki 11 February 2026
Biohit Oyj
Board of Directors
Additional information:
CEO Jussi Hahtela
tel. +358 9 773 861
investor.relations@biohit.fi
www.biohithealthcare.com
Biohit Oyj in brief
Biohit is a globally operating Finnish biotechnology company. Biohit's mission is "Innovating for Health" - we produce innovative products and services to promote research and early diagnosis. Biohit is headquartered in Helsinki. Finland. and has subsidiaries in Italy and the UK. Biohit Series B share (BIOBV) is quoted on Nasdaq Helsinki in the Small cap/Healthcare group. www.biohithealthcare.com
