JGL Group continues its strong growth trajectory and further consolidation of its market positions, generating total revenue of EUR 177.6 million in the first half of the year, representing a 13.8% increase compared to the same period last year.
According to the preliminary unaudited report for the period from 1 January to 30 June 2026, earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 21.6% to EUR 38.3 million, with an EBITDA margin of 22.6%. Consolidated profit before tax rose to EUR 34.8 million, an increase of 15.8% compared to the same period in 2025. Over the last 12 months, EBITDA reached EUR 67.2 million, while a net debt-to-EBITDA (TTM) ratio of 1.1x indicates the company's strong investment capacity.
International markets remain the main source of revenue for JGL's core pharmaceutical business (JGL Pharma), with 88% of revenue generated from exports and JGL products present in more than 60 markets.
The continued growth of leading brands made a significant contribution to JGL Group's results. Aknekutan further strengthened its position as JGL's largest brand by sales value. In the first six months of the year, it generated sales of EUR 48.1 million, as much as 46.6% more than in the same period of the previous year. Aqua Maris generated EUR 29.3 million in sales, representing growth of 11.4%, while sales of Vizol S increased by 32.2% to EUR 17.8 million. Double-digit growth was also achieved by Meralys, with sales increasing by 14.8%, and Dramina, whose sales rose by 33.1%. In addition to double-digit growth across its leading brands, JGL further expanded its portfolio in the first six months by launching 27 new products, nine of which were launched in markets where the company has its own operations, and 18 through the B2B business model.
Strong business results come at a time when JGL is entering the largest investment cycle in the company's history. The NEBO project (New Era of Boundless Opportunities), worth EUR 139 million, represents a key development step for the company's next phase of growth.
“The results for the first six months confirm that we continue to grow on healthy and sustainable foundations. It is particularly important that, alongside revenue growth, we have an even stronger profitability growth. This financial position gives us the strength to implement the largest investment cycle in JGL's history. Through the NEBO project, we will invest in production capacities, technology, quality, and research and development, creating room for the growth of key brands, the development of new products, and further expansion into international markets,” emphasized Alenka Jajac-Knez, CEO of JGL.
The growth in business results is accompanied by further organizational expansion. At the end of June, JGL Group employed 1,520 people, 118 more than in the same period of the previous year. During the first half of the year, the company also implemented the largest salary increase and promotion cycle in its history, as well as a new organizational structure, with the aim of preparing for the next phase of growth.
“The first half of the year has shown that JGL can grow, invest, and transform at the same time. The results achieved confirm the strength of our strategy and the resilience of our business model, while the decisions we make today determine what JGL will look like in the years to come. We continue to build an agile company that recognizes contributions, develops and retains the best people, operates responsibly, and creates long-term value. In the year in which we celebrate JGL's 35th anniversary, we are entering a new phase of development with the ambition to continue pushing the boundaries of what a Croatian manufacturing company can achieve in the global market,” concluded Eva Usmiani Capobianco, President of the Board of Directors.
In addition to business growth, the first six months of 2026 also brought JGL new recognition as an employer and builder of distinctive brands, alongside continued investment in preserving its own pharmaceutical heritage. By expanding the JGL Museum of Pharmacy, the company continued to preserve and present the heritage on which it was built, connecting its own history with the development of the modern-day JGL.
In the “Employer of First Choice” survey, JGL ranked 20th among the most desirable employers in Croatia and, for the third consecutive year, received the Equal Pay Champion certification for a fair and transparent pay system. The quality of JGL's communications approach to brand development was also confirmed by this year's industry awards: the campaign for RefluSTAT won a Bronze Effie, while the project for Meralys received a Silver at IdejaX.
Key Preliminary JGL Group Business Performance Indicators (January – June 30, 2026 vs January - June 2025)
Total revenue: EUR 177.6 million (+13.8%)
Operating revenue: EUR 169.3 million (+14.6%)
EBITDA: EUR 38.3 million (+21.6%)
EBITDA margin: 22.6% (+1.3 percentage points)
Profit before tax: EUR 34.8 million (+15.8%)
Net debt / EBITDA (TTM): 1.1x
Number of employees: 1,520 (+118)