Auna Q2 Revenue Up 13% but EBITDA Falls 6%; FY26 Guidance Reaffirmed

summarizeSummary

Auna reported Q2 2026 revenue of S/1,238M (+13% YoY) but Adjusted EBITDA fell 6% to S/227M. Strong cash flow and lower leverage offset margin pressure; FY26 revenue guidance reaffirmed.

check_boxKey Events · Earnings and Guidance · AUNA

• Q2 Revenue Up 13%, EBITDA Down 6%

  Revenue reached S/1,238M (+13% YoY, +9% FXN) driven by volume growth across Mexico, Peru, and Colombia. Adjusted EBITDA fell to S/227M (-6% YoY) with margin at 18.4%, down 3.7 p.p. from 2Q25.

• Cash Flow Surge and Leverage Improvement

  Operating cash flow rose 45% YoY to S/441M YTD; free cash flow jumped 181% to S/400M. Leverage ratio improved to 3.6x, supported by higher cash balances (S/478M) and disciplined working capital management.

• FY26 Guidance Reaffirmed with EBITDA at Low End

  Management reaffirmed FY26 revenue growth near midpoint of 10-14% FXN range (~12%), but expects Adjusted EBITDA growth toward the low end of that range due to temporary cost pressures across all three geographies.

• Capacity Expansions in Colombia and Peru

  Colombia: reactivated 18 ICU beds, added 24 hospitalization beds, and opened a new OR in Montería. Peru: took possession of Lima Sur site (operational late 2027-early 2028) and acquired Versius SP4 robotic system for Clínica Delgado.

auto_awesomeAnalysis · AUNA · Industrial Applications And Services

Auna delivered strong top-line growth of 13% to S/1,238 million, but Adjusted EBITDA declined 6% to S/227 million due to service mix shifts, pharmacy costs, and accepted billing penalties in Peru. Cash flow was a bright spot: operating cash flow rose 45% and free cash flow jumped 181%, helping reduce leverage to 3.6x. Management reaffirmed full-year revenue guidance of ~12% growth but expects Adjusted EBITDA at the low end of its range, signaling continued margin pressure. The results show a company growing volumes across all three markets while absorbing near-term cost headwinds.