Auna Q1 2026 Financial Results: Revenue Growth with EBITDA Margin Pressure

Auna S.A. reported its first quarter 2026 financial results, showing 13% year-over-year revenue growth to S/1,178 million (10% FX-neutral). The company delivered strong top-line performance across all three markets - Mexico (15% growth), Peru (9% growth), and Colombia (14% growth). However, Adjusted EBITDA decreased 2% YoY to S/217 million, with margins declining 2.9 percentage points to 18.4%. The EBITDA pressure was primarily due to revenue adjustments in Peru and delayed pharmacy rebates, though these were partially offset by Mexico's sequential 19% Adjusted EBITDA growth. Cash flow performance was strong with operating cash flow increasing 48% YoY and free cash flow growing 2.6x. Leverage ratio remained stable at 3.7x, impacted by non-cash FX effects. The company reaffirmed its full-year revenue and Adjusted EBITDA guidance, citing improving trends across all markets and confidence in achieving annual targets despite a softer first half.