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Gland Pharma Margin Trend — Quarter by Quarter

Gland Pharma's EBITDA margin moved from 25.0% in Q1 FY24 to 30.0% in Q4 FY26 across 12 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY2630.0%+500 bps
Q3 FY2626.0%—
Q2 FY2621.0%—
Q1 FY2624.0%+500 bps
Q4 FY2524.0%+100 bps
Q3 FY2526.0%+100 bps
Q2 FY2521.0%-200 bps
Q1 FY2519.0%-600 bps
Q4 FY2423.0%+200 bps
Q3 FY2423.0%-800 bps
Q2 FY2423.0%-500 bps
Q1 FY2425.0%—

What management said about ebitda margin

G

Q4 FY26 · Cenexi FY27 EBITDA margin mid-single to high-single digit

Cenexi targets mid-single to high-single digit EBITDA margin for FY27, improving from current positive EBITDA.

G

Q4 FY26 · Cenexi medium-term EBITDA margin mid-teen

Cenexi aims for mid-teen EBITDA margin in the medium term, driven by capacity additions and operational efficiencies.

G

Q3 FY26 · Cenexi annualized revenue run-rate of EUR 200M

Cenexi expected to maintain EUR 50 million quarterly run-rate on an annualized basis, with positive EBITDA trajectory.

G

Q2 FY26 · Cenexi break-even in Q3 FY26

Cenexi is expected to break even in Q3 FY26, supported by EUR 50 million quarterly revenue target and cost initiatives.

G

Q2 FY26 · Cenexi EBITDA improvement year-on-year

Cenexi EBITDA losses reduced to EUR 5 million in H1 from EUR 11 million last year; management expects continued improvement.

G

Q1 FY26 · Cenexi positive EBITDA by Q3 FY26

Management expects Cenexi to deliver positive EBITDA in Q3 FY26, with Q2 being lower due to summer shutdown.

G

Q4 FY25 · Cenexi positive EBITDA by Q3 FY26

Cenexi is targeting to achieve positive EBITDA by the third quarter of FY26, with double-digit EBITDA margins expected in FY27.

G

Q3 FY25 · Cenexi EBITDA breakeven by Q3 FY26

Cenexi is expected to achieve positive EBITDA by Q3 FY26, delayed from earlier Q4 FY25 guidance due to ANSM inspection impact.

G

Q3 FY25 · Cenexi revenue run rate of EUR 15M per quarter

Management targets Cenexi quarterly revenue above EUR 15 million to support EBITDA breakeven, driven by new high-speed lines.

G

Q2 FY25 · Cenexi positive EBITDA by Q4 FY25

Cenexi targets positive EBITDA in Q4 FY25, supported by new ampoule line commercial production starting January 2025.

G

Q2 FY25 · Cenexi EBITDA breakeven next fiscal year

Cenexi aims for EBITDA breakeven in FY26, driven by revenue above EUR 200 million threshold.

G

Q1 FY25 · Base business EBITDA margin 30-33% for FY25

Management guided base business EBITDA margin in the range of 30-33% for the full year.