Financials Ipsen

Equities

Market Closed - Euronext Paris Other stock markets 19:55:00 13/02/2026 +03			5-day change	1st Jan Change
154.70 ^EUR	+4.81%		+13.67%	+30.00%

02-13	Genfit to Receive $20 Million Milestone Payment Linked to Sales of Ipsen's Iqirvo	MT
02-13	Ipsen Remains in the Green with UBS Support

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	2,592	2,869	3,025	3,128	3,401	3,929	4,068	4,244
Change	-	10.7%	5.44%	3.39%	8.73%	15.54%	3.54%	4.31%
EBITDA ¹	977.5	1,166	1,348	881.4	1,200	1,383	1,500	1,538
Change	-	19.28%	15.63%	-34.63%	36.11%	15.3%	8.46%	2.53%
EBIT ¹	829.3	1,011	1,115	1,001	1,109	1,294	1,393	1,324
Change	-	21.95%	10.29%	-10.26%	10.83%	16.65%	7.6%	-4.93%
Interest Paid ¹	-24.7	-21.3	-18.5	-19.4	-35.1	-29.43	-25.6	-23.6
Earnings before Tax (EBT) ¹	528.8	814.6	705.9	761.5	431.7	578.8	1,021	1,052
Change	-	54.05%	-13.34%	7.88%	-43.31%	34.07%	76.41%	3%
Net income ¹	548	646.6	647.5	647.2	347.3	444.5	818.5	792.9
Change	-	17.99%	0.14%	-0.05%	-46.34%	27.99%	84.14%	-3.12%
Announcement Date	2/11/21 A	2/11/22 A	2/9/23 A	2/8/24 A	2/13/25 A	2/12/26 A	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	633.3	690	658.5	691.8	727.4	791.2	687.9	745.8	774.8	816.4	741.9	794.7	772.4	818.5	822.4	836.9	836.6	904.7	919	900.8	915	945.1
Change	-	8.95%	-4.57%	5.06%	5.15%	8.77%	-13.06%	8.42%	3.89%	5.37%	-9.13%	7.12%	-2.81%	5.97%	0.48%	1.76%	-0.04%	8.14%	1.58%	-1.98%	1.58%	3.29%
EBITDA	-	-	-	-	320.9	320.9	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	0%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	219.4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	10/22/20 A	2/11/21 A	4/22/21 A	7/29/21 A	11/11/21 A	2/11/22 A	4/27/22 A	7/28/22 A	10/27/22 A	2/9/23 A	4/27/23 A	7/27/23 A	10/26/23 A	2/8/24 A	4/24/24 A	7/25/24 A	10/23/24 A	2/13/25 A	4/30/25 A	7/31/25 A	10/22/25 A	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	1,350	1,519	1,434	1,591	1,537	1,591	1,659	1,741	1,820	1,992
Change	-	12.46%	-5.59%	10.99%	-3.44%	3.53%	4.3%	4.94%	4.51%	9.47%
EBITDA	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-
EBIT ¹	479.8	531.5	568	547.4	523.2	477.8	538	571.4	655.8	638.3
Change	-	10.78%	6.87%	-3.63%	-4.42%	-8.68%	12.6%	6.21%	14.77%	-2.67%
Charge d'intérêts ¹	-11.4	-9.9	-9.5	-9	-17.1	-2.3	-24.8	-10.3	-26.1	-23.1
Earnings before Tax (EBT) ¹	400.9	413.7	-	-	-	-	-	144	-	137.9
Change	-	3.19%	-	-	-	-	-	-	-	117.19%
Net income ¹	304	342.6	-	253.2	-	-	-	115.3	-	109
Change	-	12.7%	-	-	-	-	-	-	-	100.09%
Announcement Date	7/29/21 A	2/11/22 A	7/28/22 A	2/9/23 A	7/27/23 A	2/8/24 A	7/25/24 A	2/13/25 A	7/31/25 A	2/12/26 A

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	531	138	-385	-52.9	-135	-824	-1,067	-2,144
Change	-	-74.01%	-378.99%	86.26%	-155.2%	-510.82%	-29.49%	-100.94%
Announcement Date	2/11/21 A	2/11/22 A	2/9/23 A	2/8/24 A	2/13/25 A	2/12/26 A	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	81.4	96	96.6	116.2	173	172.9	159.3	178.2
Change	-	17.94%	0.62%	20.29%	48.88%	-0.05%	-7.86%	11.83%
Free Cash Flow (FCF) ¹	689.9	813.2	874.8	710.9	774.4	641.3	1,025	913.7
Change	-	17.87%	7.58%	-18.74%	8.93%	-17.19%	59.8%	-10.84%
Announcement Date	2/11/21 A	2/11/22 A	2/9/23 A	2/8/24 A	2/13/25 A	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	37.72%	40.64%	44.57%	28.18%	35.28%	35.21%	36.88%	36.25%
EBIT Margin (%)	32%	35.25%	36.87%	32.01%	32.62%	32.94%	34.23%	31.2%
EBT Margin (%)	20.4%	28.39%	23.34%	24.35%	12.69%	14.73%	25.1%	24.78%
Net margin (%)	21.15%	22.54%	21.4%	20.69%	10.21%	11.31%	20.12%	18.69%
FCF margin (%)	26.62%	28.35%	28.92%	22.73%	22.77%	17.01%	25.19%	21.53%
FCF / Net Income (%)	125.89%	125.77%	135.1%	109.84%	222.98%	90.24%	125.21%	115.23%
Profitability
ROA	12.71%	13.88%	16.46%	12.83%	13.44%	12.17%	6.4%	10.53%
ROE	28.32%	26.49%	28.73%	21.36%	21.43%	19.73%	17.4%	16.29%
Financial Health
Leverage (Debt/EBITDA)	0.54x	0.12x	-	-	-	-	-	-
Debt / Free cash flow	0.77x	0.17x	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	3.14%	3.35%	3.19%	3.72%	5.09%	4.59%	3.92%	4.2%
CAPEX / EBITDA (%)	8.33%	8.23%	7.16%	13.18%	14.42%	11.75%	10.62%	11.58%
CAPEX / FCF (%)	11.8%	11.81%	11.04%	16.35%	22.34%	26.96%	15.55%	19.5%
Items per share
Cash flow per share ¹	9.248	10.91	11.72	10.39	10.94	12.14	11.84	14.04
Change	-	17.99%	7.38%	-11.36%	5.33%	10.99%	-2.45%	18.51%
Dividend per Share ¹	1	1.2	1.2	1.2	1.4	1.406	1.319	1.511
Change	-	20%	0%	0%	16.67%	0.4%	-6.15%	14.53%
Book Value Per Share ¹	25.41	33.33	-	45.64	49.89	58.15	63.65	75.09
Change	-	31.17%	-	-	9.32%	16.56%	9.45%	17.97%
EPS ¹	6.57	7.76	7.81	7.73	4.15	5.32	9.687	9.733
Change	-	18.11%	0.64%	-1.02%	-46.31%	28.19%	12.77%	0.48%
Nbr of stocks (in thousands)	82,601	82,243	82,380	82,599	82,700	82,100	82,100	82,100
Announcement Date	2/11/21 A	2/11/22 A	2/9/23 A	2/8/24 A	2/13/25 A	2/12/26 A	-	-