{"id":42975,"date":"2026-07-23T10:15:00","date_gmt":"2026-07-23T08:15:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=c064771f2f5b9dc9d95578d4331d6f7f"},"modified":"2026-07-23T10:15:00","modified_gmt":"2026-07-23T08:15:00","slug":"eurofins-makes-significant-progress-in-h1-2026-towards-its-mid-term-2027-objectives-with-130bps-of-adjusted-ebitda-margin-expansion-strong-cash-conversion-and-29-eps-growth","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=42975","title":{"rendered":"Eurofins Makes Significant Progress in H1 2026 Towards Its Mid-Term 2027 Objectives, With 130bps of Adjusted EBITDA Margin Expansion, Strong Cash Conversion, and 29% EPS Growth"},"content":{"rendered":"<p>LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260722051143\/en\/2477928\/5\/EUROFINS_jpg.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260722051143\/en\/2477928\/22\/EUROFINS_jpg.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260722051143\/en\/2477928\/5\/EUROFINS_jpg.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260722051143\/en\/2477928\/21\/EUROFINS_jpg.jpg\" \/><\/a><p>\nEurofins (Paris:ERF):<\/p><p>\n<span class=\"bwuline\">Financial highlights in H1 2026<\/span><\/p><ul class=\"bwlistdisc\">\n<li>\nBasic EPS<sup>8<\/sup> grew 29% to \u20ac1.55 in H1 2026 vs \u20ac1.20 in H1 2025, as Eurofins continued to accumulate the operational benefits from the five-year investment programme in its hub and spoke network of laboratories and digitalisation initiatives.<\/li>\n<li>\nRevenues of \u20ac3,701m increased by 2.5% as reported including a 2.9% headwind from foreign currency, and 2.7% organically<sup>13<\/sup>. Organic growth<sup>13<\/sup> improved as the half progressed, with stronger performance in Life and Consumer &amp; Technology Products Testing. There was no significant growth effect from public working days.<\/li>\n<li>\nThe Adjusted<sup>1<\/sup> EBITDA<sup>3<\/sup> margin<sup>18<\/sup> reached 23.7% on total reported revenues in H1 2026, already approaching Eurofins\u2019 mid-term (2027) objective for the Group, and representing 130 bps of expansion vs 22.4% in H1 2025. Adjusted<sup>1<\/sup> EBITDA<sup>3<\/sup> was \u20ac877m, which is an 8% increase over H1 2025.<\/li>\n<li>\nThe Reported EBITDA<sup>3<\/sup> margin on \u20ac3,462m mature<sup>14<\/sup> revenues achieved 25.1%, while the EBITDA<sup>3<\/sup> losses on the non-mature scope startup &amp; in integration perimeter, shown as Separately Disclosed Items (SDI)<sup> 2<\/sup> continued to reduce to \u20ac8m.<\/li>\n<li>\nThe Reported EBITAS<sup>4<\/sup> margin on mature<sup>14<\/sup> revenues was 17.5%.<\/li>\n<li>\nTotal SDI<sup>2<\/sup> at the EBITDA<sup>3<\/sup> level was \u20ac15m, decreasing to 0.4% of revenues in H1 2026 from 1.0% in H1 2025. In H1 2026, SDI<sup>2<\/sup> included two one-time legal settlement gains totalling \u20ac19m. Excluding this benefit, SDI<sup>2<\/sup> still decreased year-on-year, as the profitability of non-mature businesses improved.<\/li>\n<li>\nAs a result, Reported EBITDA<sup>3<\/sup> of \u20ac862m was 11% higher year-on-year, with 190 bps of margin expansion to a Reported EBITDA<sup>3<\/sup> margin of 23.3% in H1 2026, vs 21.4% in H1 2025.<\/li>\n<li>\nFree Cash Flow to the Firm before investment in owned sites<sup>16<\/sup> was \u20ac469m in H1 2026, which is a 33% increase year-on-year, and in line with Eurofins\u2019 stated objectives. Cash conversion<sup>21<\/sup> was strong at 47%, significantly above the 36% recorded in H1 2025, reflecting lower capex and continued working capital discipline.<\/li>\n<li>\nNet debt<sup>11<\/sup> at the end of June 2026 was \u20ac3,854m. The resulting leverage ratio of 2.2x was unchanged from the end of December 2025, and is within Eurofins\u2019 target range of 1.5-2.5x. Stable leverage was delivered while also returning significant capital to shareholders, with an investment of \u20ac206m in share repurchases in the half year, net of proceeds from exercise of Long Term Incentives.<\/li>\n<\/ul><p>\n<b>Comments from the CEO, Dr Gilles Martin:<\/b><\/p><p>\n\u201cI am pleased by Eurofins\u2019 operational performance in the first half of 2026. As we enter the advanced stages of our investment programme, the financial profile described by our mid-term objectives is quickly becoming evident. Profitability is almost at our objective for 2027 with more than a year still to go, and as we move beyond the peak investment levels, lower capital expenditure is contributing to significantly higher cash generation.<\/p><p>\nOrganic revenue growth has not yet returned to a normal level, although there was improvement as H1 progressed. Environment Testing activity rebounded well from the severe weather impacts of the first quarter, and while growth in BioPharma remained slow, particularly in the ancillary activities, we expect some acceleration in the second half of the year.<\/p><p>\nHowever, the first half of 2026 demonstrates that Eurofins\u2019 ability to drive significantly higher returns is not dependent on the precise timing of end market recovery. Key drivers of realising the benefits of the hub and spoke network, maturing start-up investments, and the completion of projects to fully digitalise the laboratory network, are based on our teams\u2019 delivery rather than on external factors, and the progress already achieved year-to-date illustrates that they are moving ahead at pace.<\/p><p>\nAt the same time, the strength of the balance sheet and cash generation, with 32.6% growth in Free Cash Flow to the Firm before investment in owned sites<sup>16<\/sup> and 46% growth in Free Cash Flow to the Firm<sup>10<\/sup>, has enabled Eurofins to allocate capital both to acquisitions, and also to repurchasing its own shares at what is still an historically low valuation, as further levers to create shareholder value.<\/p><p>\nThe agreement to purchase Element Materials Technology\u2019s Life Sciences Testing Services business in North America, announced on Monday 20 July 2026, is an illustration of the benefits of focus on few activities where excellence in service to clients can be delivered. This trend to focus on core activities is accelerating in the TIC sector, and the performance gap between highly specialised companies and diversified players appears to be increasing.\u201d<\/p><p>\n<span class=\"bwuline\">Strategic highlights in H1 2026<\/span><\/p><ul class=\"bwlistdisc\">\n<li>\nEurofins continued to invest in its network in H1 2026, increasing its net surface area of laboratory, office and storage space by 17,000m<sup>2<\/sup>, resulting in a total net floor area of 1,895,000m<sup>2<\/sup> at the end of June 2026. In line with the strategy to lease less and own more of its strategic sites, with land reserved for future expansion, Eurofins added 21,600 m\u00b2 in total surface area of owned sites, while the surface area leased from third parties decreased by 4,600 m\u00b2.<\/li>\n<li>\nKey projects delivered included new state-of-the-art sites for Environment Testing at Amersfoort in the Netherlands and Jena in Germany, adding new capacity and incorporating significant new process automations. Bringing these facilities into operation represents an important step towards Eurofins\u2019 strategic priority of completing best-in-class hub and spoke networks for the European Life businesses.<\/li>\n<li>\nInvestment in acquisitions continued in H1 2026, with Eurofins closing 17 transactions with FY 2025 pro-forma revenues of over \u20ac80m, at a cost of \u20ac138m. Transactions comprised 10 acquisitions in Europe, 6 in North America, and 1 in the Rest of the World; covering all major areas of activity. Acquisitions are an established source of value creation for Eurofins, with acquired businesses benefitting from the breadth of customer offering and the economies of scale of the hub and spoke laboratory networks.<\/li>\n<li>\nThe Group\u2019s multi-year programme of start-up investments also progressed, with 12 new start-up laboratories and 4 new start-up blood collection points (BCPs) established in H1 2026. The 345 start-ups and 141 BCPs launched since 2000 have made material contributions to the overall growth of the Group, accounting for 0.4% of the organic growth<sup>13<\/sup> achieved in H1 2026.<\/li>\n<li>\nEurofins returned substantial capital to shareholders in H1 2026, repurchasing 3,653,476 shares through buyback programmes at an average price of \u20ac63.04 per share.<\/li>\n<li>\nEurofins has continued to review its portfolio actively. As part of this, Eurofins signed an agreement in June 2026 to divest a small loss-making clinical testing business in the Netherlands, that due to local regulatory constraints had no prospect of achieving target returns. This is in addition to both the agreement announced in April 2026 to divest Eurofins\u2019 Electrical &amp; Electronic Testing business to UL Solutions, and the divestment of another clinical testing business in the Netherlands in January 2026, and is aligned with Eurofins\u2019 ongoing focus on allocating capital towards its core testing for life capabilities.<\/li>\n<li>\nEurofins delivered significant innovation across the portfolio in H1 2026, with contributions to Testing for Life including:\n<ul class=\"bwlistcircle\">\n<li>\nEurofins companies expanded their Hantavirus testing capabilities to support health authorities monitoring the Hantavirus outbreak and developments related to the Andes strain. Leveraging expertise across Eurofins Viracor, Eurofins Clinical Diagnostics Spain, Eurofins Biomnis and Gold Standard Diagnostics, Eurofins offers a broad range of molecular and serological testing solutions, including PCR, next-generation sequencing (NGS) and ELISA-based assays. These capabilities support the rapid detection and monitoring of Hantavirus infections and demonstrate Eurofins\u2019 ability to respond quickly to emerging public health threats and evolving diagnostic needs.<\/li>\n<li>\nEurofins CDMO Alphora implemented an AI-enabled platform for high-throughput salt and co-crystal screening as part of its solid-state development services. Developed in collaboration with a local university, the machine-learning-based solution predicts salt and co-crystal formation for active pharmaceutical ingredients and intermediates, accelerating candidate selection, streamlining solid form selection by minimizing trial and error experimentation, shortening development timelines, and lowering screening costs.<\/li>\n<li>\nEurofins Viracor expanded its immunology testing portfolio with the launch of new plasma-based assays for CXCL9, CXCL10 and IL-18, to support minimally invasive immune monitoring in solid organ transplant, hematopoietic cell transplant, and other immunocompromised patient populations. These three new biomarkers are available as individual assays with 24-hour turnaround time, enabling faster, more informed immune monitoring alongside Eurofins Viracor's broader transplant and immunology portfolio.<\/li>\n<\/ul><\/li>\n<\/ul><p>\n<b><span class=\"bwuline\">Objectives<\/span><\/b><\/p><p>\nEurofins is confirming its objectives for FY 2026, for the mid-term (post-2027) and for FY 2027:<\/p><ul class=\"bwlistdisc\">\n<li>\nFor FY 2026:\n<ul class=\"bwlistcircle\">\n<li>\nEurofins targets mid-single-digit organic growth<sup>13<\/sup> and potential annualised revenues from acquisitions of \u20ac250m, consolidated at mid-year (\u20ac125m consolidated impact in 2026). Organic growth will depend on the speed of pick-up of business in certain ancillary activities, and the end of contraction in others.<\/li>\n<li>\nThe adjusted<sup>1<\/sup> EBITDA<sup>3<\/sup> margin<sup>18<\/sup> is expected to show further progress towards the 2027 objective, with improvement above FY 2025 margin<sup>18<\/sup> of 22.5%.<\/li>\n<li>\nSDI<sup>2<\/sup> at the EBITDA<sup>3<\/sup> level should further decline from the FY 2025 level<\/li>\n<li>\nFCFF<sup>10<\/sup> is expected to grow, with continued strong cash conversion<sup>21<\/sup>.<\/li>\n<\/ul><\/li>\n<\/ul><ul class=\"bwlistdisc\">\n<li>\nIn the mid-term and for FY 2027:\n<ul class=\"bwlistcircle\">\n<li>\nEurofins confirms its long-term average organic growth<sup>13<\/sup> objective of 6.5% p.a. driven by secular growth trends in its end markets and recovery of ancillary Biopharma activities, as well as its target for potential average revenues from acquisitions of \u20ac250m p.a. over the period consolidated at mid-year.<\/li>\n<li>\nThe adjusted<sup>1<\/sup> EBITDA<sup>3<\/sup> margin on total revenues<sup>18<\/sup> objective for FY 2027 remains 24%.<\/li>\n<li>\nThe objective for SDI<sup>2<\/sup> at the EBITDA<sup>3<\/sup> level remains about 0.5% of revenues in FY 2027.<\/li>\n<li>\nFurther increases in FCFF<sup>10<\/sup> and ROCE<sup>19<\/sup> are expected as Eurofins completes its 5-year (2023-2027) investment programme. The objective for cash conversion<sup>21<\/sup> in FY 2027 remains above 50%.<\/li>\n<li>\nEurofins targets to maintain a financial leverage in the range of 1.5-2.5x in the mid-term.<\/li>\n<\/ul><\/li>\n<\/ul><ul class=\"bwlistdisc\">\n<li>\nNet operating capex is expected to remain at around \u20ac400m per year. In addition, investment to own Eurofins\u2019 larger state-of-the-art sites will continue and is assumed to be around \u20ac200m annually in 2026 and 2027.<\/li>\n<li>\nThese objectives assume average exchange rates that are unchanged from FY 2025. Actual results for each year will depend on the development of individual end markets, exchange rates, the evolution of inflation and the quantum and cost of M&amp;A, among other factors.<\/li>\n<\/ul><p>\n<b>Conference Call<\/b><\/p><p>\nEurofins will hold a conference call with analysts and investors today at 14:00 CET to discuss the results and the performance of Eurofins, as well as its outlook, and will be followed by a questions and answers (Q&amp;A) session.<\/p><p>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.webcaster5.com%2FWebcast%2FPage%2F2982%2F54203&amp;esheet=54575419&amp;newsitemid=20260722051143&amp;lan=en-US&amp;anchor=Click+here+to+Join+Call+%26gt%3B%26gt%3B&amp;index=1&amp;md5=c6770613b588f90c3a5254027db0d102\" rel=\"nofollow\" shape=\"rect\">Click here to Join Call &gt;&gt;<\/a><br\/>From any device, click the link above to join the conference call.<\/p><p>\n<b>Business Review<\/b><\/p><p>\nThe following figures are extracts from the Condensed Interim Consolidated Financial Statements and should be read in conjunction with the Condensed Interim Consolidated Financial Statements and Notes for the period ended 30 June 2026. The Half Year Report 2026 can be found on Eurofins\u2019 website at the following link: <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.eurofins.com%2Finvestors%2Freports-and-presentations%2F&amp;esheet=54575419&amp;newsitemid=20260722051143&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.eurofins.com%2Finvestors%2Freports-and-presentations%2F&amp;index=2&amp;md5=8064fa0a78a026f2dc6676c38ef6fd59\" rel=\"nofollow\" shape=\"rect\">https:\/\/www.eurofins.com\/investors\/reports-and-presentations\/<\/a>.<\/p><p>\nAlternative performance measures and separately disclosed items<sup>2<\/sup> are defined at the end of this press release.<\/p><p>\n<b>Table 1: Half Year 2026 Results Summary<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>H1 2026<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>H1 2025<\/b><\/p><\/td><td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwvertalignt bwwidth14\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>+\/- % YoY\n<br\/>change\n<br\/>Adjusted<sup>1\n<br\/><\/sup>results<\/b><\/p><\/td><td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwvertalignt bwwidth13\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>+\/- % YoY\n<br\/>change\n<br\/>Reported\n<br\/>results<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>In \u20acm except otherwise stated<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Adjusted<sup>1\n<br\/><\/sup>results<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nSeparately\n<br\/>disclosed\n<br\/>items<sup>2<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth7 bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nReported\n<br\/>results<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Adjusted<sup>1\n<br\/><\/sup>results<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nSeparately<\/p><p class=\"bwalignr bwcellpmargin\">\ndisclosed\n<br\/>items<sup>2<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth7 bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\nReported\n<br\/>results<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth13 bwvertalignt\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRevenues<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,462<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n240<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,701<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,361<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n251<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,612<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>3.0%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>2.5%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEBITDA<sup>3<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n877<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-15<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n862<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n810<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-37<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n773<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>8.3%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>11.4%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEBITDA<sup>3<\/sup> margin<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n25.3%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n23.3%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n24.1%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21.4%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>+120bps<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>+190bps<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEBITDA<sup>3<\/sup> margin on reported revenues<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n23.7%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n22.4%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>+130bps<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEBITAS<sup>4<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n606<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-42<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n564<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n531<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-67<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n464<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>14.2%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>21.6%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEBITAS<sup>4<\/sup> margin<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n17.5%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n15.2%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n15.8%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n12.8%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>170bps<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>240bps<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet profit<sup>7<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n395<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-93<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n302<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n361<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-114<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n247<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>9.4%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>22.4%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBasic EPS<sup>8<\/sup> (\u20ac)<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.09<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.54<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1.55<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1.83<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.63<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1.20<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>14.2%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>29.4%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet cash provided by operating activities<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n614<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n526<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>16.7%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet capex<sup>9<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n212<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n251<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-15.6%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet operating capex<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n145<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n173<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-15.9%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet capex for purchase and development of owned sites<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n66<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n78<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-14.9%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nFree Cash Flow to the Firm before investment in owned sites<sup>16<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n469<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n354<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>32.6%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nM&amp;A spend<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n138<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n158<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-12.8%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet debt<sup>11<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,854<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,360<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>14.7%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"3\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLeverage ratio (net debt<sup>11<\/sup>\/pro-forma adjusted<sup>1<\/sup> EBITDA<sup>3<\/sup>)<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.2x<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth8 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth11 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth7 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2.1x<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth14 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwnowrap bwwidth13 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n+0.1x<\/p><\/td><\/tr>\n<\/table><p>\n<b><span class=\"bwuline\">Revenues<\/span><\/b><\/p><p>\nReported revenues increased year-on-year to \u20ac3,701m in H1 2026 vs \u20ac3,612m in H1 2025, supported by organic growth<sup>13<\/sup> of 2.7% (2.7% excluding adjustment for public working days); and by acquisitions, which contributed \u20ac23m to consolidated revenues in H1 2026. Note that H1 2025 pro-forma revenues include a contribution of \u20ac94m from acquisitions that were completed, but not consolidated, in FY 2025. Growth also included a year-on-year headwind of 2.9% from foreign currency, although this impact was significantly reduced in the second quarter.<\/p><p>\n<b>Table 2: Organic Growth<sup>13<\/sup> Calculation and Revenue Reconciliation<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth80\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth20 bwnowrap\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<i>In \u20acm except\n<br\/>otherwise stated<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>H1 2025 reported revenues<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,612<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n+ H1 2025 acquisitions - revenue part not consolidated in H1 2025 at H1 2025FX<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n94<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- H1 2025 revenues of discontinued activities \/ disposals<sup>15<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-21<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n= H1 2025 pro-forma revenues (at H1 2025 FX rates)<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,684<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n+ H1 2026 FX impact on H1 2025 pro-forma revenues<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-105<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>= H1 2025 pro-forma revenues (at H1 2026 FX rates) (a)<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,579<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>H1 2026 organic scope* revenues (at H1 2026 FX rates) (b)<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,677<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>H1 2026 organic growth<sup>13<\/sup> rate (b\/a-1)<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2.7%<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nH1 2026 acquisitions - revenue part consolidated in H1 2026 at H1 2026 FX<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n23<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nH1 2026 revenues of discontinued activities \/ disposals<sup>15<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>H1 2026 reported revenues<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,701<\/b><\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth80\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth20 bwnowrap\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<i>In \u20acm except\n<br\/>otherwise stated<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Q2 2025 reported revenues<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,845<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n+ Q2 2025 acquisitions - revenue part not consolidated in Q2 2025 at Q2 2025 FX<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n25<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n- Q2 2025 revenues of discontinued activities \/ disposals<sup>15<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-14<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n= Q2 2025 pro-forma revenues (at Q2 2025 FX rates)<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,856<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n+ Q2 2026 FX impact on Q2 2025 pro-forma revenues<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-18<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>= Q2 2025 pro-forma revenues (at Q2 2026 FX rates) (a)<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,839<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Q2 2026 organic scope<sup>*<\/sup> revenues (at Q2 2026 FX rates) (b)<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,893<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Q2 2026 organic growth<sup>13<\/sup> rate (b\/a-1)<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3.0%<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nQ2 2026<b> <\/b>acquisitions - revenue part consolidated in Q2 2026<b> <\/b>at Q2 2026<b> <\/b>FX<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n18<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nQ2 2026<b> <\/b>revenues of discontinued activities \/ disposals<sup>15<\/sup><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwwidth80 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Q2 2026 reported revenues<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,912<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>* Organic scope consists of all companies that were part of the Group as of 01\/01\/2026. This corresponds to the 2025 pro-forma scope.<\/i><\/p><\/td><\/tr>\n<\/table><p>\n<b>Table 3: Breakdown of Revenue by Operating Segment<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>\u20acm<\/i><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1 2026<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>As % of\n<br\/>total<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1 2025<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>As % of\n<br\/>total<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>Y-o-Y\n<br\/>variation %<\/i><\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>Organic\n<br\/>growth<sup>13<\/sup><\/i><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEurope<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,961<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n53%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,855<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n51%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>5.7%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>2.0%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNorth America<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,334<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n36%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,371<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n38%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-2.7%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>2.0%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRest of the World<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n406<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n11%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n386<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n11%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>5.2%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>9.1%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,701<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>100%<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,612<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>100%<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>2.5%<\/i><\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>2.7%<\/i><\/b><\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>\u20acm<\/i><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q2 2026<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>As % of\n<br\/>total<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q2 2025<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>As % of\n<br\/>total<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>Y-o-Y\n<br\/>variation %<\/i><\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>Organic\n<br\/>growth<sup>13<\/sup><\/i><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEurope<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,004<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n53%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n962<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n52%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>4.4%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>2.3%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNorth America<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n696<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n36%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n687<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n37%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1.3%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>2.0%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nRest of the World<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n212<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n11%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n197<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n11%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>7.8%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>9.6%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth28\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,912<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>100%<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,845<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>100%<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>3.6%<\/i><\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>3.0%<\/i><\/b><\/p><\/td><\/tr>\n<\/table><p>\n<b><span class=\"bwuline\">Europe<\/span><\/b><\/p><ul class=\"bwlistdisc\">\n<li>\nReported revenues increased in H1 2026 vs H1 2025 by 5.7%, driven by organic growth<sup>13<\/sup> of 2.0%, and the benefit of acquisitions, notably SYNLAB\u2019s clinical diagnostics operations in Spain which were only partially consolidated in H1 2025.<\/li>\n<li>\nFood &amp; Feed Europe delivered solid market momentum during H1 2026, supported by mid-single-digit organic growth<b><i><sup>13<\/sup><\/i><\/b> across most geographies and end markets. While activity was impacted by unusually adverse weather conditions during January, resulting in a slower start to the year, demand and operational performance strengthened throughout the remainder of the period. The business continued to invest in technology and digitalisation, including progress on IT-related initiatives aimed at further improving customer experience and operational efficiency. The business also advanced its footprint optimisation programme and delivered further productivity and efficiency gains across the network. These actions supported a stronger year-on-year profitability trajectory while enhancing scalability and service quality.<\/li>\n<li>\nThe Environment Testing business in Europe showed clear growth compared with H1 2025, with environmental testing volumes rebounding strongly following a slow Q1. Increasing implementation of major EU environmental legislation remains the primary growth catalyst, driving underlying demand in various sectors including wastewater, drinking water, soil, and remediation programmes across all European markets. Growth in the asbestos testing market is being fuelled by stricter OHS regulations. Expansion in the number of urban wastewater treatment projects in multiple countries linked to the revised EU Urban Wastewater Directive should continue to drive increased testing requirements across Europe. The rollout of the new proprietary eLIMS-NG laboratory software platform is progressing across the Environment Testing network, alongside investments in automation, capacity expansion, and operational efficiency programmes.<\/li>\n<li>\nBioPharma Services revenue in Europe was slightly down on the prior year, but strong cost discipline and operational efficiencies still enabled growth in profitability. There was a mixed picture across activities, with growth in Medical Devices testing in H1 and the BioPharma Product Testing business broadly stable, but CDMO declining, including contract ends that have not yet been replaced.<\/li>\n<li>\nIn Diagnostics, revenue growth was affected by the divestment of an entity in the Netherlands in January, and the implementation of the planned rationalisation of certain loss-making Clinical Diagnostics contracts in the former SYNLAB business in Spain and in Italy. In Spain, the integration project for the acquired operations has been successfully completed with a new leadership team appointed and fully operational. Continuous improvements are being made to operational processes and portfolio management, while work remains ongoing to capture pending synergies.<\/li>\n<\/ul><p>\n<b><span class=\"bwuline\">North America<\/span><\/b><\/p><ul class=\"bwlistdisc\">\n<li>\nReported revenues declined year-on-year by 2.7%, with organic growth<sup>13<\/sup> of 2.0% offset by foreign exchange headwinds, with the depreciation of the U.S. Dollar vs the Euro that mostly affected Q1 2026.<\/li>\n<li>\nFood and Feed Testing in North America saw steady growth in the first half of 2026, with continued strength in categories such as GMO and OTC\/Retail offset by some headwind from mix, attributable to clients in markets with specific challenges such as meat, produce and infant formula. Footprint expansion has continued, with three new laboratories added to the network in microbiology and food supplement testing, and the addition of further spoke laboratories expected in H2 2026.<\/li>\n<li>\nThe Environment Testing business delivered mid-single-digit organic growth<sup>13<\/sup> in H1 2026, despite a weather-impacted Q1. Market fundamentals remain favorable, supported by ongoing regulatory activity, infrastructure investment, environmental compliance requirements, and continued demand for advanced testing solutions. PFAS testing continues to be an attractive category, with double-digit growth driven by both market share gains and strong expansion in the PFAS remediation market. The drinking water and wastewater segment also continues to benefit from customer projects requiring analytical support in data centres, power utilities, water infrastructure, and port authorities. Investments are being made in the Environment Testing network both to unlock further growth opportunities and improve productivity, with a tripling of its microplastics testing capacity to meet rapidly increasing demand, and a robotics solution for gravimetric processes being rolled out across major laboratories.<\/li>\n<li>\nMarket conditions for Eurofins BioPharma Services in North America remain varied. In BioPharma Product Testing, growth has stayed solid as Eurofins companies support customers investing in promising candidates in their pipeline, and with onshoring to the US a strong driver of activity for commercial phase support. Demand still remained soft across the ancillary activities. However, growth is expected to improve in both the CDMO and Bioanalytical Laboratories businesses in the second half of 2026, including the Bioanalytical business recovering from the effects of disruption around a site move in H1.<\/li>\n<li>\nConsumer Products and Technology Testing was supported by a strong first half in some end markets for Materials testing. There was good growth with semiconductor equipment customers, and from testing for aerospace and defence customers, reflecting the stronger defence spending in the US with the current geopolitical developments.<\/li>\n<\/ul><p>\n<b><span class=\"bwuline\">Rest of the World<\/span><\/b><\/p><ul class=\"bwlistdisc\">\n<li>\nRevenues in Rest of the World increased by 5.2% year-on-year, with organic growth<sup>13<\/sup> of 9.1%.<\/li>\n<li>\nGrowth was solid across the Asia Pacific region, with significant growth from the Food &amp; Feed Testing business line as a result of a strong position for export and domestic testing in Asia, and market share gains in the Pacific region. Ongoing investments in the network include a small Food Testing campus in Vietnam expected to be completed in 2026, a new microbiology laboratory in Indonesia, and the acquisition of a Food Testing business in New Zealand. Other developments included a Quality Assessment of Spice Testing audit of 13 independent laboratories in India, and new milestones reached in several laboratories in China for new analytical methods and U.S. Non-GMO Project official recognition.<\/li>\n<li>\nLatin America also remained a growth contributor, supported by solid performance across several business lines. In Brazil, the Food Testing business continues to deliver consistent results, with microbiology and chemical testing laboratories operating at high capacity to meet strict EU and US audit standards. In addition, Colombia is cementing its position in the BioPharma business as a regional pharmaceutical hub, with both local and multinational clients driving high demand for stability testing, bioequivalence trials, and pharmaceutical microbiology.<\/li>\n<\/ul><p>\n<b>Table 4: Breakdown of Revenue by Area of Activity<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>\u20acm<\/i><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1 2026<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>As % of\n<br\/>total<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>H1 2025<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>As % of\n<br\/>total<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>Y-o-Y\n<br\/>variation %<\/i><\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>Organic\n<br\/>growth<sup>13<\/sup><\/i><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLife*<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,547<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n42%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,473<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n41%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>5.0%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>4.8%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBioPharma**<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,039<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n28%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,042<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n29%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-0.3%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-0.1%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDiagnostic Services &amp; Products***<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n760<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n746<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1.8%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>0.6%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nConsumer &amp; Technology Products Testing****<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n356<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n10%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n351<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n10%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1.5%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>7.4%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,701<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>100%<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,612<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>100%<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>2.5%<\/i><\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>2.7%<\/i><\/b><\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>\u20acm<\/i><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q2 2026<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>As % of\n<br\/>total<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q2 2025<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>As % of\n<br\/>total<\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>Y-o-Y\n<br\/>variation %<\/i><\/b><\/p><\/td><td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>Organic\n<br\/>growth<sup>13<\/sup><\/i><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLife*<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n813<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n43%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n755<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n41%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>7.6%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>5.3%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nBioPharma**<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n529<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n28%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n526<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n29%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>0.5%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-1.1%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDiagnostic Services &amp; Products***<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n381<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n20%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n387<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n21%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-1.5%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>0.7%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nConsumer &amp; Technology Products Testing****<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n189<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n10%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n177<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n10%<\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>7.1%<\/i><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>10.1%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwwidth28 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,912<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>100%<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,845<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>100%<\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>3.6%<\/i><\/b><\/p><\/td><td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwvertalignm\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>3.0%<\/i><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"7\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>* Consisting of Food and Feed Testing, Agro Testing and Environment Testing<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"7\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>**<\/i> <i>Consisting of BioPharma Services, Agrosciences, Genomics and Forensic Services<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"7\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>*** Consisting of Clinical Diagnostics Testing and In-Vitro Diagnostics (IVD) Solutions<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"7\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>****<\/i> <i>Consisting of Consumer Product Testing and Advanced Material Sciences<\/i><\/p><\/td><\/tr>\n<\/table><p>\n<b><span class=\"bwuline\">Infrastructure Programme<\/span><\/b><\/p><p>\nIn the first six months of 2026, Eurofins increased its net surface area of laboratory, office, and storage space by 17,000 m\u00b2, resulting in a total net floor area of 1,895,000 m\u00b2 at the end of June 2026.<\/p><br\/> <b>Contacts<\/b> <br\/><p>\n<b>For more information, please visit <\/b><a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.eurofins.com%2F&amp;esheet=54575419&amp;newsitemid=20260722051143&amp;lan=en-US&amp;anchor=www.eurofins.com&amp;index=3&amp;md5=f5f71c76d3ebe7c2eadf70874a350749\" rel=\"nofollow\" shape=\"rect\">www.eurofins.com<\/a><b> or contact:\n<br\/>\n<\/b><br\/>Investor Relations\n<br\/>Eurofins Scientific SE\n<br\/>Phone: +32 2 766 1620\n<br\/>E-mail: <a  href=\"mailto:ir@sc.eurofinseu.com\" rel=\"nofollow\" shape=\"rect\">ir@sc.eurofinseu.com<\/a><\/p><br\/> <a href=\"http:\/\/www.businesswire.com\/news\/home\/20260722051143\/en\/Eurofins-Makes-Significant-Progress-in-H1-2026-Towards-Its-Mid-Term-2027-Objectives-With-130bps-of-Adjusted-EBITDA-Margin-Expansion-Strong-Cash-Conversion-and-29-EPS-Growth\/?feedref=Zd8jjkgYuzBwDixoAdXmJgT1albrG1Eq4mAeVP39212bri8lIe-zl5tWvCOnRHW3evRMp3sIgu8q3wq1OF24lT93qbEzrwa15HGbLqMObxY5fjCLYi_If30KxIsYuhwbuLAuCkn8FS6sh-I3dfDZEg==\"> Read full story here <\/a>","protected":false},"excerpt":{"rendered":"<p>LUXEMBOURG&#8211;(BUSINESS WIRE)&#8211;Regulatory News:<br \/>\nEurofins (Paris:ERF):<br \/>\nFinancial highlights in H1 2026<\/p>\n<p>Basic EPS8 grew 29% to \u20ac1.55 in H1 2026 vs \u20ac1.20 in H1 2025, as Eurofins continued to accumulate the operational benefits from the five-year investment&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-42975","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/42975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42975"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/42975\/revisions"}],"predecessor-version":[{"id":42976,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/42975\/revisions\/42976"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}