Interim report July-September 2026

The figures presented in this report refer to continuing operations unless otherwise stated. The Indian hospital operation is reported as a disposal group held for sale and as a discontinued operation. Group total refers to continuing operations and discontinued operations. The comparative numbers have been restated where applicable.

Revenue amounted to EUR 570.8 million (EUR 538.7 million), an increase of 6.0% with an organic growth of 8.0%.
Operating profit (EBIT) was EUR 49.3 million (EUR 40.4 million), an increase of 22.0% representing an operating margin of 8.6% (7.5%).
Net profit amounted to EUR 24.8 million (EUR 19.2 million), an increase of 29.2%, which represents a margin of 4.3% (3.6%). Net profit for Group total amounted to EUR 25.2 million (EUR 18.6 million).
EBITDA was EUR 99.3 million (EUR 90.9 million), an increase of 9.3%. EBITDA margin was 17.4% (16.9%).
EBITDAaL amounted to EUR 70.9 million (EUR 63.2 million), an increase of 12.4%, corresponding to an EBITDAaL margin of 12.4% (11.7%).
Net cash flow from operating activities was EUR 93.8 million (EUR 98.8 million) for Group total.
Basic/diluted earnings per share were EUR 0.162 (EUR 0.127).
Divestment of the Indian hospital business announced, expected to close in Q4, generating gross cash proceeds of EUR 0.74 billion.

8.0%

Organic revenue growth

17.4%

EBITDA margin

EUR 93.8m

Operating cash flow
(Group total)

The third quarter has been an eventful quarter, during which we announced the divestment of our Indian hospital business, continued to optimise our footprint, and added new fitness facilities and blood-drawing points. We continued to deliver organic growth and margin expansion, generating solid cash flows from the business.

John Stubbington, CEO

Medicover is a leading international healthcare and diagnostic services company and was founded in 1995. Medicover operates a large number of ambulatory clinics, hospitals, specialty-care facilities, laboratories, gyms and blood-drawing points and the largest markets are Poland, Germany, Romania and India. In 2025, Medicover had revenue of EUR 2,378 million and more than 49,000 employees. For more information, go to medicover.com

Revenue and earnings

EUR million	Q3 2026	Q3 2025¹	∆	9M 2026	9M 2025¹	∆	LTM	FY 2025¹
Continuing operations
Revenue	570.8	538.7	6%	1,721.6	1,618.0	6%	2,281.0	2,177.4
Operating profit (EBIT)	49.3	40.4	22%	145.0	118.0	23%	179.5	152.5
Operating profit margin	8.6%	7.5%		8.4%	7.3%		7.9%	7.0%
Net profit	24.8	19.2	29%	71.8	59.1	21%	90.9	78.2
Net profit margin	4.3%	3.6%		4.2%	3.7%		4.0%	3.6%
Basic earnings per share, €	0.162	0.127	28%	0.471	0.391	20%	0.600	0.519
Diluted earnings per share, €	0.162	0.127	28%	0.470	0.390	21%	0.598	0.518
EBITDA	99.3	90.9	9%	294.5	263.5	12%	379.0	348.0
EBITDA margin	17.4%	16.9%		17.1%	16.3%		16.6%	16.0%
Adjusted EBITDA	101.3	94.7	7%	302.3	276.0	10%	391.1	364.8
Adjusted EBITDA margin	17.8%	17.6%		17.6%	17.1%		17.2%	16.8%
EBITDAaL	70.9	63.2	12%	210.2	184.1	14%	267.0	240.9
EBITDAaL margin	12.4%	11.7%		12.2%	11.4%		11.7%	11.1%
Adjusted EBITDAaL	72.9	67.0	9%	218.0	196.6	11%	279.1	257.7
Adjusted EBITDAaL margin	12.8%	12.4%		12.7%	12.1%		12.2%	11.8%
EBITA	52.1	44.8	16%	153.5	129.6	18%	191.3	167.4
EBITA margin	9.1%	8.3%		8.9%	8.0%		8.4%	7.7%
Group total²
Net profit	25.2	18.6	36%	69.6	55.4	26%	86.9	72.7
Basic earnings per share, €	0.169	0.129	31%	0.476	0.390	22%	0.601	0.514
Diluted earnings per share, €	0.169	0.129	31%	0.475	0.389	22%	0.599	0.513

Definition and reconciliation of alternative performance measures are available at medicover.com.
LTM: last twelve months (1 October 2025 - 30 September 2026).

¹Comparative figures have been restated to reflect the classification of Medicover Hospitals India as a discontinued operation.
²Includes continuing and discontinued operations.