# Pharol financial performance and Rioforte debt status

> Live situation record from CLSTR: https://clstr.news/situations/pharol-financial-performance-and-rioforte-debt-status
> Updated: 2026-08-12T08:48:27.000Z. Sources: 5. Developments: 2.

Pharol reported a net loss of €974,068 for the first half of 2026, a significant downturn from the €2.12 million profit recorded during the same period in 2025. The company’s EBITDA fell to negative €1.67 million, reflecting a deeper loss than the previous year. This decline was driven by personnel expenses more than doubling to €1.08 million and a decrease in ‘other gains’ to €347,000 from €2.55 million.

Despite the loss, the firm maintained the valuation of its Rioforte debt instruments at €51.9 million. Pharol noted that the accounting loss does not necessitate immediate cash outflows, as settlements are expected to be staged through 2030. The company also reported a strengthened legal position regarding the Rio Forte process, with its full €897 million credit claim now being recognized.

## Timeline

### 2026-08-12: Pharvaris reports earnings miss amid shifting institutional holdings

Pharvaris N. V. missed quarterly earnings expectations with an EPS of ($0.80). Meanwhile, institutional investors are adjusting stakes in Cummins Inc. and Philip Morris International.

5 sources. https://clstr.news/cluster/pharvaris-reports-quarterly-earnings-miss-of-005-per-share

### 2026-07-30: Pharol posts €974k loss in H1 2026 after previous year profit

Pharol posted a €974,068 net loss in H1 2026, down from €2.12 million profit a year earlier, while EBITDA turned negative and personnel costs doubled; cash remains €42.5 million with no bank debt.

2 sources. https://clstr.news/cluster/pharol-posts-974k-loss-in-h1-2026-after-previous-year-profit

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Cite as: Pharol financial performance and Rioforte debt status. CLSTR, https://clstr.news/situations/pharol-financial-performance-and-rioforte-debt-status