PROMOMED results for the first half of 2026: outstripping growth and leadership, revenue and EBITDA +76%, confirmation of the forecast for 2026

August 31, 2026, Moscow – PJSC PROMOMED (MOEX: PRMD) (formerly –PROMOMED", the "Company", and together with its subsidiaries, the "Group") announces the Group's IFRS financial results for the 6 months ended June 30, 2026.

• The Group's revenue reached 22.8 billion rubles and increased by 76% YoY, which is more than 5 times the growth rate of the pharmaceutical market.¹. EBITDA amounted to RUB 7.7 billion (+76% YoY), EBITDA margin was 34% (excluding YoY changes), net profit was RUB 2.6 billion (+83% YoY).

• In January-June 2026, PROMOMED ranked 1st among manufacturers of medicines in terms of sales volume in the commercial market of the Russian Federation, according to IQDATA. The Company's share was 4.83%, and sales reached 9.8 billion rubles, while the gap with the next rating position is 1.6 percentage points. According to the results of June, the Company also took the 1st place in the overall pharmaceutical market.

• The Group's strategic areas of Endocrinology and Oncology accounted for 83% of the Company's revenue (69% in the first 6 months of 2025). The share of commercial sales was 83%, budget sales — 17%. This implementation structure is due to the advancing dynamics of the Endocrinology segment.

  • The Endocrinology segment saw the largest sales growth, by 243% YoY, to RUB 16.3 billion. According to the DSM Group, the flagship drug Tirzetta® is the best—selling drug in Russian pharmacies throughout 2026.

  • In the Oncology segment, according to the results of the 1st half of 2026, revenue amounted to 2.6 billion rubles. The decrease compared to the same period in 2025 is due to a change in the plan of initial shipments to suppliers, which are linked to the schedules of publications and public procurement: in 2026, the key tenders for the Company are concentrated in the second half of the year. The Group also plans new drug launches in the second half of 2026 and a corresponding acceleration of sales in the Budget segment.

  • The Other drugs segment showed neutral dynamics compared to the same period in 2025.

• The share of innovative drugs in the Group's revenue was 85%, and biotechnological products — 80%. At the same time, the number of registration certificates increased by 15 in the reporting period.

• Moderate debt burden: LTM's Net debt/EBITDA as of June 30, 2026 was 1.79x (a decrease of 0.22 compared to the first half of last year). PROMOMED consistently and purposefully directs funds to strategic investments in R&D, digitalization, commercialization of drugs and improvement of production facilities. 

KEY OPERATIONAL AND FINANCIAL RESULTS

Indicators for the reporting period	6m2026		6m2025	g/g
Revenue, billion rubles.	22,8		13,0	76%
Gross profit, billion rubles.	15,2		8,0	91%
Gross profit margin, %	67		61	5 p.p.
EBITDA, billion rubles.	7,7		4,4	76%
EBITDA margin, %	34		34	0 percentage points.
Net profit, billion rubles.	2,6		1,4	83%
Profitability of the state of emergency, %	11,4		10,9	0.5 pp.
Net cash flow from operating activities, billion rubles .	(1,8)		(0,7)	-
Net debt, billion rubles.	33,3		20,7	61%
Net debt/LTM EBITDA, x	1,79		2,01	-
Indicators as of the reporting date	30.06.26		31.12.25		Ed.
Number of drugs in the portfolio, pcs.	379		364		15
Number of employees, people	3 379		2 826		551
Number of employees in R&D, people	607		500		107
Nosology registration certificates as of 30.06.26
Endocrinology		23
Oncology		57
Neurology		66
Antibiotics		71
General therapy		114
Antiviral drugs		35
Immunology		3
Veterinary medicine		5
Orphan		2

REVENUE AND REVENUE STRUCTURE

Indicators for the reporting period	6m2026	6m2025	g/g
Revenue, billion rubles., including segments:	22,8	13,0	76%
Endocrinology	16,3	4,7	243%
Oncology	2,6	4,3	(39%)
Other drugs2	4,0	4,0	0%
The proportion of Endocrinological and Oncological portfolios in revenue, %	83	69	14 p.p.
The share of drugs sold through Commercial and Budget sales channels in revenue, %	83/17	49/50	-
VED's share of revenue, %	37	75	(38 pp)
The share of innovative drugs in revenue, %	85	60	25 pp.
Biotech drugs' share in revenue, %	80	53	27 pp.
LP market, billion rubles., including segments:	1 587	1 386	14,5%
relevant Endocrinology market (9 INN)	49,0	18,6	163%
relevant Oncology market (30 INN)	21,8	15,1	44%
relevant market Other drugs (165 INN)	126,1	112,9	12%

 The Group's revenue for the first six months of 2026 increased by 76% YoY and reached 22.8 billion rubles. compared to 13.0 billion rubles a year earlier. The revenue growth rate of PROMMED remains within the forecast for 2026 and is more than 5 times higher than the growth rate of the pharmaceutical market (14.5% yoy according to IQDATA).

Following the initial sales, according to the Group's revenue, sales of distributors are growing at a faster pace according to IQDATA (+156%), as well as the cost of leaving pharmacies: according to DSM (+207.5% YoY), according to the MDLP (+214% YoY).

The main drivers of the Group's consolidated revenue growth were the successful commercialization of drugs, the clinical value of which is confirmed by an evidence base and secured by the trust of the professional community.

Endocrinology

In the Endocrinology segment, revenue in the first half of 2026 increased by 243% YoY to RUB 16.3 billion, mainly due to the successful sale of innovative drugs for the treatment of obesity and diabetes mellitus.

Proceeds from the sale of drugs with INN semaglutide (Velgia drugs®, Velgia® Eco, Quincenta®, Semalthara®) increased by 38% YoY and exceeded RUB 3.7 billion. A significant contribution was made by the drug for the gentle treatment of type 2 diabetes, even in patients with heart and kidney disease — Quincenta®. In the first half of 2026, its sales amounted to more than 1 billion rubles. According to the agency IQDATA In June, PROMOMED's share in INN semaglutide was 43%.

Oncology

In the Oncology segment, according to the results of the 1st half of 2026, revenue amounted to 2.6 billion rubles. The decrease relative to the same period in 2025 is due to a change in the plan primary shipments to suppliers that are linked to the schedules of publications and public procurement: in 2026, the key tenders for the Company are concentrated in the second half of the year.

Significant sales, amounting to more than 1 billion rubles, were shown by the anticancer drugs Cabozantinib-Promomed (the domestic analogue of the drug Kabomethiks® from Ipsen, launched in 2024) and Vandetanib-Promomed (a domestic analogue of Sanofi's Caprels®, launched in 2024), as well as Avenium® Pro, the first domestic ninetedanib. The drug is used in the treatment of severe lung diseases, including some cancers, prevents tissue damage and scarring and helps ensure normal breathing. For the first time in the Russian pharmaceutical industry, it was possible to develop an antitumor drug in the form of soft gelatin capsules. This sophisticated technology was chosen to improve the absorption of the drug, protect the stomach and make swallowing easier.

Other drugs: General therapy, Orphan, Antiviral, Neurology, Immunology, Antibiotics, and others

In the Other drugs segment, revenue reached 4 billion rubles in the first half of 2026. The main contribution was made by Brainmax®— an innovative neuroprotector, and Ambene® products. Brainmax® sales increased by 116% YoY.

The development has been completed and registration certificates have been obtained for 7 drugs, including drugs for the treatment of diabetes, hepatitis C, cardiovascular and rheumatological diseases, new generation drugs for the treatment of prostate cancer (included in the pipeline of key launches) and breast cancer. As well as drugs that have never been introduced in Russia before.: the first domestic analogue of a targeted drug with INN upadacitinib for the treatment of severe chronic inflammatory and autoimmune diseases, including in children, a unique innovative drug for the treatment of irritable bowel syndrome, as well as long-term drugs for the treatment of HIV infection (included in the pipeline of key launches).

PROFIT AND PROFITABILITY INDICATORS

Indicators for the reporting period	6m2026	6m2025	g/g
Gross profit, billion rubles.	15,2	8,0	91%
Gross profit margin, %	67	61	5 p.p.
EBITDA, billion rubles.	7,7	4,4	76%
EBITDA margin, %	34	34	0 percentage points
Net profit, billion rubles.	2,6	1,4	83%
Profitability of the State of emergency, %	11,4	10,9	0.5 pp.

The Group's gross profit in the first half of 2026 increased by 91% to RUB 15.2 billion. by maintaining an efficient cost structure of production, as well as transforming the product portfolio in favor of more marginal drugs in strategic therapeutic areas.
The share of general and administrative expenses in revenue decreased by 0.5 percentage points YoY to 13.1%. Commercial expenses for the first 6 months of 2026 increased in absolute terms due to increased costs for advertising, marketing and salaries of newly recruited employees amid increased marketing activity in the context of intensive commercialization of drugs and staff expansion in commercial divisions.

The increased ratio of the share of commercial and marketing expenses from revenue in the first half of the year compared to annual figures is due to a more even distribution of expenses during the year compared to revenue receipts, as well as the traditional accounting of TV advertising costs at the beginning of the year. At the same time, the relative (in%) value of such expenses is on a par with comparable companies in the industry in Russia and the world.

EBITDA for the first half of 2026 increased to 7.7 billion rubles. EBITDA margin for the first half of 2026 remained at the level of the previous year.

Net profit in the first half of 2026 amounted to 2.6 billion rubles (+83% yoy) compared to 1.4 billion rubles a year earlier. The dynamics reflect a significant increase in operating profit against the background of a significant increase in sales of the Company's key drugs.

LIQUIDITY AND DEBT BURDEN

Indicators as of the reporting date	30.06.26	31.12.25
Total debt, billion rubles.	37,1	29,4
Debt on loans and borrowings and convertible bonds, billion rubles	33,4	28,4
Other financial liabilities (including lease obligations), billion rubles.	3,6	0,9
Cash and cash equivalents, billion rubles .	(3,7)	(4,2)
Net debt, billion rubles.	33,3	25,1
Net debt/ EBITDA LTM, x	1,79	1,65

 LIQUIDITY AND DEBT BURDEN

LTM net debt/EBITDA increased to 1.79x in the first half of 2026 compared to 1.65x at the end of 2025 (a decrease of 0.22 compared to the first half of last year). The current level of debt burden remains within the target targets and This is due to the fact that PROMOMED purposefully and on an ongoing basis directs funds to the implementation of strategic goals and objectives: R&D, commercialization of drugs and expansion of production capacities.

In March 2026, PROMOMED repaid bond issue 002P-1 for 3.5 billion rubles and placed two-year bonds of the 002P-03 series in the amount of 6.8 billion rubles maturing in 2028. In addition to refinancing current liabilities, the funds raised are used for general corporate purposes, including continuing to implement the Group's growth strategy.

Also in the reporting period, the first issue of structural bonds was repaid by transferring PROMOMED shares to investors. Due to this, the share of PROMOMED shares in free circulation increased from 6.7% to 8.5%, and the Company's short-term debt decreased by 1.6 billion rubles. The decision corresponds to the Company's medium-term goal of moving to the first quotation list.
CASH FLOW INDICATORS

Indicators for the reporting period	6m2026	6m2025
Net cash flow from operating activities, billion rubles .	(1,8)	(0,7)
Cash flow from investing activities, billion rubles, including:	(3,2)	(1,6)
Research & Development (R&D)3	(1,2)	(0,8)
Capital expenditures (CAPEX)4	(1,5)	(0,6)
Free cash flow, billion rubles .	(4,5)	(2,1)

Cash flow from operating activities for the first 6 months of 2026 amounted to (1.8) billion rubles.

Net working capital at the end of June 2026 amounted to 29.7 billion rubles. compared to 21.4 billion rubles at the end of June 2025. The increase in the indicator reflects the active growth phase of the Group, the growth of high-quality accounts receivable and the expansion of inventories for the production and sale of products in strategic directions.

PROMOMED expects to optimize its net working capital in future periods, including through increased sales of innovative drugs and increased commercialization of the Group's key products.

Cash flow from investment activities in the first half of 2026 amounted to 3.2 billion rubles. compared to (1.6) billion rubles in the first half of 2025:

· R&D expenses in the first half of 2026 amounted to (1.2) billion rubles. The cost structure is dominated by clinical research, which is in line with the Group's strategy of focusing on the development of innovative drugs and is consistent with previously announced plans to introduce new products to the market.

Capital expenditures in the first half of 2026 amounted to (1.5) billion rubles. The main cost driver is the commissioning and commencement of payments within the framework of the construction of the oncological building, as well as the expansion of sections of Pre—filled syringes and Small production series. These areas are strategic and will ensure the growth rates that the Group has outlined.
FORECAST FOR 2026

PROMOMED confirms financial forecast for 2026: revenue growth by 60% with profitability EBITDA 45%. The Group will continue to implement its outstripping growth strategy through the successful development and commercialization of innovative medicines in promising areas, which will allow it to maintain a steady positive trend in financial results.

VECTOR OF THE FUTURE: KEY EVENTS OF THE REPORTING PERIOD

• By obtaining a license for the use of patented inventions related to the creation, circulation and use of veterinary drugs with INN fluralaner, PROMOMED marketed Rabectra® for the prevention of diseases transmitted by ticks and fleas through dogs. The group was the first in the country to master the production of veterinary drugs in the form of a soft chewable tablet with a taste of beef, which animals perceive as a treat. 

• PROMOMED has completed the development cycle of one of the most modern HIV treatment regimens, previously unavailable in Russia. The drug combination includes tablet and injectable forms of cabotegravir and rilpivirine. All four drugs have already received registration certificates.

• A multicenter prospective post-marketing study of ESPERANCE has been launched, which aims to study Esperavir® in real clinical practice. Also in the reporting period, PROMOMED reduced prices for Esperavir® (INN molnupiravir) and launched a new package of 10 capsules.

• PROMOMED and NMITS of Endocrinology named after Academician I. I. Dedov of the Ministry of Health of the Russian Federation signed an agreement of intent to conduct a large-scale research in the field of studying the biological age and metabolic health of Russians. The study will start in the summer of 2026 and will cover various regions of the country, taking into account the ethnic and demographic characteristics of the population.

• PROMOMED, with the financing of the FRP, began preparatory work necessary for the start of full-scale construction of a line for the production of specialized small-batch drugs. In total, the Company will allocate 1.4 billion rubles for the development of the new direction. Of these, 940 million rubles were allocated in the form of a concessional loan from the Federal Reserve Fund.

• ·The Group is developing an international direction R&D and technology transfer: in the reporting period, PROMOMED and the Ministry of Health of Vietnam agreed on a strategic partnership and localization of the latest technologies in the republic.

The UAE Drug Administration (Emirates Drug Establishment, EDE) conducted an audit of the Biochemist plant, following which the company confirmed compliance with strict international GMP requirements. Thanks to the certificate obtained, PROMOMED can now supply medicines to one of the most promising markets in the Middle East. The Biochemist plant has also successfully passed the audit of the Ministry of Health. Of the Republic of Uzbekistan. The certificate opens the possibility of registering and supplying more than 20 names of medicines of various nosologies to one of the most dynamically developing pharmaceutical markets in Eurasia.
About the Company

PROMOMED is a leading innovative biopharmaceutical company with significant growth potential in promising segments of the pharmaceutical market.

The company's structure includes its own unique world-class R&D center and a high—tech enterprise, the Biochemist plant. Thanks to this, PROMOMED implements the concept of a full production cycle "from Idea to Molecule, from Molecule to Patient", promptly responds to the current needs of the industry, and also implements the latest technologies to create innovative medicines. The company is developing a diversified portfolio of more than 370 medicines in the top 10 segments of the pharmaceutical market. The company's portfolio includes blockbuster drugs and innovative biotechnological drugs that have no analogues on the Russian market. Based on its own developments, the company produces drugs for the treatment of diseases in various therapeutic areas: endocrinology, oncology, neurology, autoimmune diseases, infection control, acute and chronic pain, and others. Thanks to its own innovative chemical technologies and biotechnologies, as well as modern production facilities, the company is an active participant in the system of ensuring national drug safety and import independence of the country.

Contacts

For investors	For the media
ir@promomed.pro	pr@promomed.pro

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1. According to IQDATA.
2. Including other revenue from related activities.
3. Corresponds to the line "Payments in connection with the acquisition and creation of intangible assets" in the Cash Flow statement of the IFRS financial statements.
4. Corresponds to the line "Payments in connection with the acquisition, creation, modernization, reconstruction and preparation for the use of the operating system" Cash Flow statement of IFRS reporting.

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