Hypera SA earnings date
Hypera SA (HM6A) Q3 2026 Earnings Report
DE:HM6A Q3 2026 EPS Results
- Actual EPS
- EUR 0.13
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- EUR 0.12
DE:HM6A Q3 2026 Revenue Results
- Actual Revenue
- EUR 425.20M
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +16.00%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- After Close
- Conference Call
- Tuesday, October 27, 2026
Hypera SA's next earnings date is estimated for February 19, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive. Hypera delivered solid revenue, EBITDA, net income, cash conversion, working-capital, and leverage improvements, while Semavy's launch materially exceeded initial expectations and expanded the company's chronic-care portfolio. The main challenges were weaker flu-related demand, higher launch and marketing expenses, short-term Semavy margin dilution, a slower institutional-market ramp, and uncertainty around near-term category and margin trends. Overall, the highlights significantly outweighed the lowlights.
Management expects October sell-out growth of low teens, with the base portfolio at mid-single digits and the remainder coming from Semavy; Semavy is expected to double the approximately 94,000 units sold in the previous month and continue leading until the end of 2027. The flu category will probably see a negative impact until the first quarter, with recovery expected in the third quarter of 2027, while El Niño should continue until the end of the first quarter or the beginning of the second quarter of 2027. Management has not changed its expectations for margins and does not expect any variations that will change the trends in the second and third quarters; investments will reduce starting in 2027, and the company expects cash generation for next year to be slightly higher than this year. The goal is to reach 1.5x net debt to EBITDA, with management believing it will be close to that level at the end of 2027, while institutional-market sales are targeted at BRL 1.5 billion by 2028, or maybe for the future, maybe for 2030.
- Sell-Out Growth Outpaced the Target MarketSell-out grew 6.6%, exceeding the 5.4% growth of Hypera's target market, while the company reported market share gains in its operating categories.
- Strength in Key Therapeutic CategoriesHypera performed well in skincare, gastroenterology, cardiology, and diabetes, driven by investments in strengthening its brands and recent product launches.
- Strong Semavy LaunchSemavy began selling in September and achieved approximately 93,000 units of sell-out in its first month, with market share exceeding 11% in the injectable semaglutide market. It was sold in more than 18,000 pharmacies in Brazil and became Hypera's top-selling product by sell-out in October, its second month of sales.
- Semaglutide Market ExpansionThe injectable semaglutide market grew 11.3% in units from August to September following Semavy's launch. The broader semaglutide market more than doubled in units between June and September, and increased further in October.
- Revenue and Gross Profit GrowthNet revenue reached BRL 2.4 billion, up 9.4% from the third quarter of 2025. Gross profit increased 9.7% to BRL 1.5 billion, with gross margin at 61.3%, flat year over year.
- Strong EBITDA and Net Income PerformanceEBITDA from continuing operations was BRL 782 million, with a 32% margin. Net income grew 16%, driven by a 42% decrease in interest expenses resulting from lower net debt and lower interest rates compared with the prior year.
- High Cash ConversionEBITDA conversion into operating cash flow was 97.5%, reflecting continued discipline in working capital management.
- Working Capital ImprovementInventory declined to 186 days from 194 days in the second quarter of 2026. Working capital fell to 27% of annualized quarterly net revenue, compared with 28% in Q2 2026 and 30% in Q3 2025.
- Debt Reduction and RefinancingNet debt was reduced by approximately BRL 300 million during the quarter and ended at BRL 5.6 billion, equivalent to 2.0x last-twelve-month EBITDA. Hypera issued BRL 1.35 billion of 22nd debentures at CDI+0.72% and partially redeemed BRL 1.2 billion of the 16th and 17th issues, which carried a cost of approximately CDI+1.3%. The weighted average cost of debt decreased to the equivalent of CDI-0.5% for the quarter.
- Continued Investment in Capacity and InnovationHypera invested BRL 139 million in fixed assets, including production-capacity expansion, internalization of manufacturing for recently acquired brands, and a new factory for the institutional market. It also invested BRL 70 million in intangible assets focused on R&D projects to strengthen the innovation pipeline.
- Broader Market ReachHypera operates in 61% of the Brazilian pharmaceutical market, a 3 percentage point increase from the previous quarter.
- Semavy Prescriber Base and Storage AdvantageSemavy had reached 30,000 physicians prescribing Hypera's products, primarily in endocrinology and cardiology. Management said phase III study results on storage conditions provide a competitive advantage for patients and physicians, particularly for travel, and help provide information on the product's safety and efficacy.
- Supportive Portfolio for GLP-1 Adverse EffectsHypera has a broad portfolio addressing adverse effects associated with GLP-1 use, including market-leading Tamarine and Naturetti for constipation and Dramin for nausea. Tamarine has been growing about 15% annually and is also used by patients taking other GLP-1 brands.
- Semavy Working Capital BenefitsSemavy has higher inventory turnover than the company's average, and management expects its lower inventory days to contribute positively to results and reduce company-wide inventory days in future quarters.
- Pipeline of Chronic-Care LaunchesHypera plans significant launches in 2027 in central nervous system, cardiology, and diabetes categories. The company also disclosed a planned launch of fezolinetant for menopausal symptoms under a partnership, with patent protection through 2034.
- Expected Reduction in Investment CycleHypera expects its current investment cycle to conclude during 2026 and early 2027, including the oncological-products plant, R&D infrastructure, and internalization of Takeda-acquired products. Investment levels are expected to decrease starting in 2027, although some projects may extend into the first quarter.
- Supply Capacity for SemavyManagement does not expect capacity issues from its manufacturing partner and said the company has been able to replace sell-out while maintaining safe inventory levels at Hypera and its customers.
- Strong Near-Term Sell-Out MomentumOctober sell-out was expected to grow at a low-teens rate. Management said Semavy was already the main contributor, while the remainder of the portfolio was growing at a mid-single-digit rate, and it expected Semavy to continue leading through the end of 2027.
- Long-Term Deleveraging ObjectiveManagement's goal is to reduce net debt to 1.5x EBITDA before considering increased shareholder payouts or additional business investment, with the company expecting to approach that level by the end of 2027.
DE:HM6A Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 19, 2027 | 2026 (Q4) | ―- | 0.12 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | ―0.13 | 0.12 | 10.69% (+0.01) | |
| Aug 06, 2026 | 2026 (Q2) | ―0.12 | 0.11 | 16.95% (+0.02) | |
| Apr 28, 2026 | 2026 (Q1) | ―0.09 | -0.03 | 373.68% (+0.13) | |
| Mar 12, 2026 | 2025 (Q4) | ―0.12 | 0.02 | 523.81% (+0.10) | |
| Oct 28, 2025 | 2025 (Q3) | ―0.12 | 0.1 | 23.58% (+0.02) | |
| Aug 06, 2025 | 2025 (Q2) | ―0.11 | 0.13 | -20.27% (-0.03) | |
| Apr 23, 2025 | 2025 (Q1) | ―-0.03 | 0.11 | -130.40% (-0.15) | |
| Mar 20, 2025 | 2024 (Q4) | ―0.02 | 0.09 | -78.35% (-0.07) | |
| Nov 13, 2024 | 2024 (Q3) | ―0.10 | 0.14 | -33.75% (-0.05) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
