EarningsQ2 2026 Earnings Report
DE:UNC0 Q2 2026 EPS Results
Actual EPS€3.51
Consensus EPS€2.59
Beat/MissBeat by +€0.91
One Year Ago EPS€1.80
DE:UNC0 Q2 2026 Revenue Results
Actual Revenue€4.44B
Expected Revenue€4.14B
Beat/MissBeat by +€301.91M
YoY Revenue Growth+30.79%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeTBA
Conference CallThursday, July 30, 2026
DE:UNC0 Upcoming Earnings
UCB SA's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:UNC0 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial performance in H1 2026: robust top-line growth, expanding margins and EBITDA, upgraded guidance, and clear commercial momentum for key growth drivers (notably BIMZELX) alongside meaningful pipeline and strategic acquisitions positioning the company for sustained longer-term growth. Notable risks include BRIVIACT loss of exclusivity with large expected sales declines, anticipated net price pressure from recent access wins (near-term H2 price erosion before volume benefits), increased G&A and integration costs from acquisitions, and competition/heterogeneity risks in HS. On balance, the positive execution, upgraded guidance and attractive pipeline developments outweigh the near-term headwinds.Company Guidance
Strong Top-Line Growth
Total net sales grew 23% to EUR 4.1 billion in H1 2026; total revenue increased 22% (27% at constant exchange rate) to EUR 4.3 billion.
Significant EBITDA and Profit Improvement
Adjusted EBITDA reached EUR 1.7 billion, up 68% (79% at constant exchange rate); EBITDA margin expanded to 40.7%. Group profit rose to EUR 1.1 billion from EUR 475 million year-on-year.
Improved Gross Margin and Adjusted Gross Profit
Adjusted gross profit reached EUR 3.5 billion, up 27% (33% at constant exchange rate); reported gross margin improved to 82%, driven by favorable product mix and prior-year gross-to-net adjustments.
BIMZELX Momentum and Revised Peak Sales
BIMZELX net sales were EUR 1.5 billion in H1 (roughly double year-ago), approved in >50 countries and used by >135,000 patients; market shares cited ~35% in psoriasis, ~30% in rheumatology and ~45% in HS in key dynamics. Company revised BIMZELX peak sales potential to at least EUR 7 billion.
Upgraded Full-Year Guidance
Management upgraded 2026 guidance: revenues expected to grow low-teens to mid-teens at constant exchange rate; adjusted EBITDA expected to grow mid-teens to low-20s at constant exchange rate.
Strong Performance Across Other Growth Drivers
EVENITY net contribution EUR 379 million (growth 34%); MG portfolio net sales EUR 330 million (growth 38%); FINTEPLA net sales EUR 239 million (growth 18%); combined 5 growth drivers represent >50% of total net sales.
Pipeline Advancement and Strategic BD
Key R&D moves: bepranemab to confirmatory Phase II in TAU-low subpopulation; galvokimig expanding into respiratory Phase II (COPD and non-cystic fibrosis bronchiectasis); Neurona acquisition (Rezanecel) planned Phase III start H1 next year; Candid Therapeutics (cizutamig) targeted for Phase II in myasthenia gravis and ILD in 2026.
Operating Discipline with Revenue Leverage
Operating expenses up modestly (marketing & selling +6%, R&D +6%) while delivering strong operating leverage; core EPS rose to EUR 6.84 (nearly doubling year-on-year).
DE:UNC0 Earnings History
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.
Beat
Missed