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AS MADARA Cosmetics
AS MADARA Cosmetics (MDARA) investor relations material
AS MADARA Cosmetics H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary4 Sep, 2026
Executive summary
Group revenue grew by 17.5% year-over-year in H1 2026, reaching EUR 13.36 million, with EBITDA nearly doubling compared to the same period last year.
E-commerce, including own store, marketplaces, and B2B pure players, was the main growth engine, now representing 40% of revenue with direct e-commerce turnover up 24% year-over-year.
Hair care revenue nearly tripled across online channels, with Micro-Keratin Silk Hair Mist volume up 900%, boosting the hair care category.
Expanded TikTok Shop operations in the UK and Germany, enabling Latvian businesses to access TikTok Shop Europe, and entered new markets in Saudi Arabia and Singapore.
B2B remains a key pillar, with growth in most markets and new partnerships in France and the Netherlands.
Financial highlights
Revenue reached EUR 13.36 million, up 17.5% year-over-year, surpassing the annual guidance of +10%.
EBITDA was EUR 1.51 million, a 99% increase year-over-year, with EBITDA margin rising to 11% from 7% in the prior year.
Profit before tax was EUR 1.1 million, up 286% year-over-year.
Gross profit increased by 19% to EUR 9.14 million, with gross margin rising to 68%.
Administration costs decreased and sales cost growth was lower than revenue growth, reflecting improved cost discipline.
Outlook and guidance
Management maintains a full-year revenue target of at least EUR 25.54 million and a double-digit EBITDA margin.
Focus for the second half includes further e-commerce acceleration, new product launches in lip care, eyelash treatment, and a core line relaunch.
Continued investment in process automation and AI to enhance operational efficiency.
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Latest events from AS MADARA Cosmetics
- 2025 turnover up 12%, H2 EBITDA margin at 13%, and 2026 growth targeted at 10%.MDARA
H2 2025 - Like-for-like revenue up 9% to €11.37M; e-commerce and pilot costs shaped profitability.MDARAH1 2025
- Profit before tax up 253% on 9% sales growth, driven by innovation and asset sales.MDARAH1 2024
- Revenue up 11% to EUR 21.52m, net profit boosted by asset sales, targeting 10% growth in 2025.MDARAH2 2024
Next AS MADARA Cosmetics earnings date
Q3 202628 Oct, 2026
AS MADARA Cosmetics
Next AS MADARA Cosmetics earnings date
Q3 202628 Oct, 2026
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Frequently asked questions
AS MADARA Cosmetics is a Latvian company specializing in the production of natural and organic skincare, hair care, and baby care products. The company's offerings are formulated using biologically certified ingredients sourced from the Northern and Baltic regions. MADARA's product range includes face creams, cleansing gels, tonics, masks, and exfoliants, all made with a focus on sustainability and ecological principles. AS MADARA Cosmetics is headquartered in Mārupe, Latvia, and its shares are listed on the Nasdaq Riga.