Krka — Earnings Release 2025

Jan 30, 2026

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PRESS RELEASE

Krka Group 2025 Performance Estimate

Novo mesto

29 January 2026

The Management Board of Krka, d. d. held a press conference today to present the preliminary 2025 unaudited performance estimate for the Krka Group, which the Supervisory Board discussed at their meeting yesterday. The Krka Group generated revenue of €2,041.0 million, up €131.5 million or 7% on 2024. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to €559.1 million, corresponding to 27.4% of total revenue. Net profit is projected at €401.1 million, up 13% year on year. Publication of the 2025 unaudited financial statements of the Krka Group and Krka is scheduled for Thursday, 12 March 2026.

The President of the Management Board and Chief Executive Jože Colarič explained: 'This past year was a successful one. We have marked a notable milestone, outstripping €2 billion in revenue for the first time in history, and saw sales grow in most our markets, the highest in Region East Europe. We are aware that long-term sales growth also depends on extension of the product portfolio, so we added 17 new products to it, and completed more than 900 marketing authorisation procedures for new and established products in various markets. Most of them are used for treating chronic cardiovascular and central nervous system diseases, gastrointestinal disorders, diabetes, and pain relief. They also include new combination medicines, which are gaining an ever more prominent share in Krka sales.

Sales growth led to increased profitability. We recorded estimated operating profit (EBIT) of €465.6 million, up 9%, and estimated net profit of €401.1 million, up €44.9 million or 13% on the year before.

We remain committed to the course of our long‑term growth and development as set in the adopted Krka Group development strategy for the period until 2030. Our vertically integrated business model enables us to provide for uninterrupted supplies of sufficient quantities of high-quality, safe, and effective products, and deliver on our mission Living a healthy life. The adopted strategy also served as the basis for our 2026 business plan. The plan outlines revenue from sales of products and services at €2,132 million, net profit at €405 million, and almost a 50% increase in investments on the year before. We believe that with help of our committed coworkers already counting over 13,000 across the globe we will successfully deliver on all our plans.'

Krka Group performance estimates

€ thousand	2025 estimate	2024	Index
Revenue	2,041,025	1,909,544	107
– Of which revenue from sales of products and services	2,034,039	1,899,848	107
Earnings before interest, tax, depreciation and amortisation (EBITDA)	559,081	520,085	107
Operating profit (EBIT)	465,574	427,572	109
Net financial result	28,470	-8,494
Profit before tax (EBT)	494,044	419,078	118
Net profit	401,072	356,202	113
Earnings per share (EPS) (€)	13.14	11.60	113
Ratios
EBITDA margin	27.4%	27.2%
EBIT margin	22.8%	22.4%
EBT margin	24.2%	21.9%
Net profit margin (ROS)	19.7%	18.7%

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Sales

The Krka Group generated €2,041.0 million in revenue last year. Of that, revenue from contracts with customers on sales of products and services amounted to €2,034.0 million, while other revenue from contracts with customers on sales of materials and other sales revenue constituted the difference. Revenue increased by €131.5 million or 7% on the year before. Sales increased in most markets.

Krka Group product and service sales by region

€ thousand	2025	2024	Index
Region Slovenia	130,272	121,004	108
Region South-East Europe	290,172	269,025	108
Region East Europe	713,371	650,339	110
Region Central Europe	460,004	426,530	108
Region West Europe	364,109	351,803	103
Region Overseas Markets	76,111	81,147	94
Total	2,034,039	1,899,848	107

Region East Europe generated €713.4 million and, accounting for 35.1% of total sales, was the largest sales region in the Krka Group. Year-onyear sales increased by 10%. In the Russian Federation, our product sales generated €422.3 million, up 13% on 2024, a 9% increase in sales denominated in the Russian rouble. We recorded growth in all other regional markets, except in Kazakhstan. Product sales in Ukraine totalled €96.3 million and remained on the 2024 level. Uzbekistan generated €57.9 million in sales, up 8% year on year.

Region Central Europe, comprising the Visegrad Group and the Baltic states, followed with

€460.0 million in sales or 22.6% of total Krka Group sales. We recorded an 8% year-on-year increase. Poland, the leading market in the region, generated product sales of €230.1 million and recorded 12% growth. Product sales in Czechia totalled €62.2 million, up 6%, while in Hungary, product sales increased by 1% to €53.9 million. We increased sales also in other countries in the region.

Accounting for 17.9% in total Krka Group sales, Region West Europe was the Krka Group's third largest sales region and recorded sales of €364.1 million. Year-on-year sales increased by 3%. In Germany, the largest regional market, product sales amounted to €86.8 million, recording a 4% year-on-year increase. We recorded the highest absolute sales growth in Scandinavia, Portugal, Belgium, and Germany.

Product sales in Region South-East Europe amounted to €290.2 million, up 8% on 2024, accounting for 14.3% of total Krka Group sales. Romania and Croatia remained our two leading markets in the region. We recorded the highest absolute sales growth in Serbia, Bosnia and Herzegovina, and Croatia. Our product sales in Romania generated €80.1 million, up 3%, and in Croatia €52.1 million, up 6%. Sales increased in all markets in the region.

Region Slovenia recorded sales of €130.3 million, accounting for 6.4% of total Krka Group sales. The growth rate was 8%. The major part, totalling €76.1 million, was generated by product sales, which increased by 6%. Health resort and tourist services yielded €54.2 million, up 10% on 2024.

Region Overseas Markets accounted for 3.7% in overall Krka Group sales and yielded €76.1 million in product sales, down 6% on 2024.

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Krka Group sales by product and service group

€ thousand	2025	2024	Index
Human health products	1,865,186	1,738,650	107
– Prescription pharmaceuticals	1,691,711	1,567,359	108
– Non-prescription products	173,475	171,291	101
Animal health products	114,652	111,847	103
Health resort and tourist services	54,201	49,351	110
Total	2,034,039	1,899,848	107

Sales of prescription pharmaceuticals totalled €1,691.7 million, up 8% on 2024, accounting for 83.2% of total Krka Group sales. We increased sales in all regions, except in Region Overseas Markets. Region East Europe increased sales by 12%; Region Central Europe and Region South-East Europe by 8% each; Region Slovenia by 6%; and Region West Europe by 4%. Of our ten largest individual markets, prescription pharmaceuticals saw the highest absolute sales growth in the Russian Federation, Poland, Scandinavia, and Germany. Of our other markets, sales increases were most substantial in Belarus, Belgium, and Portugal.

Top-ranking classes of prescription pharmaceuticals included cardiovascular agents, central nervous system agents, medicines for the treatment of gastrointestinal disorders, pain, and diabetes.

Sales of non-prescription products totalled €173.5 million, a 1% year-on-year increase, and accounted for 8.5% of total sales. Sales of animal health products totalled €114.7 million, a 3% year-on-year increase, and accounted for 5.6% of total sales. Sales of health resort and tourist services totalled €54.2 million, up 10% on 2024, accounting for 2.7% of total sales.

Research and development

In 2025, we expanded our product range with seventeen new products, of which thirteen prescription pharmaceuticals, two additions to our portfolio of non-prescription products, and two animal health products.

Of prescription pharmaceuticals, we were granted marketing authorisations for contemporary antidiabetic agents, offering new patient-tailored treatment options: two single-pill combinations Dagraduo (sitagliptin/dapagliflozin) and Mexdagry (dapagliflozin/metformin), and Lynxaram (linagliptin). We added new products to the portfolio of cardiovascular agents, our largest therapeutic class of products: combination medicines Valkubit (sacubitril/valsartan), Bi-Prenessa (bisoprolol/perindopril), and Pixoroso (rosuvastatin/perindopril), new strengths of Co-Amlessa (perindopril/amlodipine/indapamide), and Co-Roswera (rosuvastatin/ezetimibe), and new formulations of Telassmo (telmisartan/amlodipine) and Tolucombi (telmisartan/hydrochlorothiazide). Also, we were granted marketing authorisations for a single-pill analgesic, Delanxara (tramadol/dexketoprofen). In China, we were granted marketing authorisations for vonoprazan for the treatment of the gastrointestinal tract, and dapagliflozin for the treatment of type 2 diabetes mellitus. Medicines may be approved under different brand names in individual markets.

We received marketing authorisations for two new non-prescription products for relieving pain and inflammation in the oral cavity and throat, Septabene lemon-and-ginger flavoured lozenges, and Septabene cola flavoured lozenges. Both products are also approved under the Septolete brand name on certain markets.

We expanded our animal health product range with a combination medicine Dehinexxa (praziquantel/emodepside) spot-on solution, in certain countries also available as Dehispot, and Robexera (robenacoxib) solution for injection.

We finalised over 900 registration procedures for new and already established products and received approvals for more than 32,000 regulatory variations to ensure uninterrupted supply to markets.

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We filed eleven patent applications for innovations we had developed and evaluated as inventions at the global ranking level. Based on priority applications from 2024, we filed eight international and one European patent applications. We were granted 15 patents in various countries. 250 patents protect Krka's technological solutions.

We filed 39 applications for trademarks in Slovenia. We also filed 68 international and 18 national trademark applications. Overall, we have registered trademarks for more than 1,150 different signs across multiple countries.

Investments

In 2025, the Krka Group allocated €95.5 million to investments, of that €70.0 million to the controlling company.

Completed investments

• We refurbished the packaging room at Notol, our production plant in Novo mesto, Slovenia. We replaced 16 packaging lines, installed robotic cells, and upgraded washing and granulation systems.
• We finished installation of a new suspension inspection line at the Sterile Products Department in Novo mesto, Slovenia, to increase quality control and output capacity.
• We upgraded production and a container filling-and-packaging line at the Solid Dosage Products plant in Novo mesto, Slovenia
• We increased production capacities for granulation and packaging at the Ljutomer plant, Slovenia.
• We finished the construction of the technologically advanced waste water treatment plant in Krško, Slovenia, which has been in trial operation since September 2025. We also finished the air-conditioned raw material warehouse project to ensure controlled storage conditions and increase reliability of supplies for production.
• At the production and distribution centre in Jastrebarsko, Croatia, we increased production capacities for solid forms of products for veterinary use.

Major investments in progress

• At Notol, our production plant in Novo mesto, Slovenia, we continued modernisation of the logistic system to ensure reliable operations for decades. We instigated the design phase for extension of the solid dosage production plant.
• To enhance the production capacity at the Notol 2 Department, another production plant in Novo mesto, Slovenia, additional equipment is being installed.
• The investment in additional capacities for tabletting mixture preparation, granulation, and logistic capacities continues at the Solid Dosage Products plant in Novo mesto, Slovenia.
• Work is in progress at the Bršljin Department in Novo mesto, Slovenia, to increase packaging capacities for tablets and spot-on products for veterinary use. To increase production capacities for veterinary products and their packaging, the construction of a multi-storey building is in progress at the same site.
• We continued the construction of a multi-purpose building in Novo mesto, Slovenia, and drew up the design for execution of a new multi-purpose facility next to the Laguna building.
• At the Ljutomer Department, Slovenia, two projects for long‑term growth of production continued the introduction of uncoated soft‑filled lozenge production and the construction of a high‑bay automated warehouse. We are currently upgrading the packaging lines as well.
• Terme Krka continued the renovation of swimming pools in Strunjan (Slovenia), and started the extensive refurbishment of the Hotel Vital in Dolenjske Toplice (Slovenia) to improve accommodation for patients.
• At Krka Pharma Private Limited (Hyderabad, India), the company established by Krka and Laurus Labs Ltd., the construction of facilities for development and production of oncology agents and solid dosage forms continued. The design for execution and regulatory permits have been obtained, construction works have started, and key technological equipment has been ordered.

Employees

At the end of 2025, the Krka Group had 13,236 employees, up 3% year-to-date, of whom 5,509 or 42% worked outside Slovenia. The proportion of the Krka Group employees with at least university-level qualifications was 48%, and 202 employees held doctoral degrees. Including agency workers, the Krka Group employed 13,281 persons.

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Investor and share information

The Krka share price increased by 46% in 2025, reaching €203.00 as at 31 December 2025. Krka shareholders received a dividend of €8.25 gross per share in July 2025, up 10% year on year. Considering the share price at the end of the year, this constituted a 4.1% annual dividend yield. Total Krka share return, dividend included, amounted to 52% in 2025.

At the end of the year, Krka had 47,882 shareholders, up 1% on 2024 year-end. The shareholder structure of Krka was stable, composed of domestic retail investors in 41.7% and foreign investors in 18.1%.

In 2025, we repurchased 327,490 treasury shares. As at 31 December 2025, Krka held 2,434,827 treasury shares, accounting for 7.425% of its share capital.

Sustainable operations and governance

The 2026–2030 Krka Group Development Strategy includes three strategic pillars. As part of them, we further detailed our commitment to ensuring uninterrupted access to medicines, developing innovative generic products for the treatment of chronic diseases, and creating value, so that positive effects of our business benefit all Krka stakeholders.

The 'Sustainability statement' forms an integral part of our 2024 Annual Report. We for the first time reported under the applicable European Sustainability Reporting Standards (ESRS) in that section, which was also attested by the external auditor. Upgrades to sustainability reporting, key performance indicators, and internal controls were in the centre of our attention in 2025. On 3 December 2025, we received a score 55 out of 100 in the S&P Global Corporate Sustainability Assessment (CSA) performed by S&P Global rating agency. The received independent sustainability rating confirms the outlined direction of the Krka Group's sustainable business operations and ESG governance.

2026 Krka Group plans

2026 Krka Group revenue target is €2,144 million, up €103 million or 5% on the year ago, of which revenue from sales of product and services are estimated at €2,132 million.

Net profit is planned at €405 million. Net profit growth is projected to average 5.6% over the five-year period.

We plan to allocate over €140 million for investments, primarily aimed at extending and upgrading production capacities and infrastructure. The total number of employees in Slovenia and abroad is projected to increase by 2%.

The 2026 business objectives derive from the 2026–2030 Krka Group Development Strategy and are based on estimates, assessments, projections, and other available data. The Management Board believes projections are reasonable. In the event of major changes in the business environment, e.g. price erosion, rising prices of raw materials, exchange rate fluctuations for certain key currencies, or a decrease in demand for pharmaceutical products, actual operating results could deviate from the plan.