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Immsi (IMS) investor relations material
Immsi H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2026 reached €905.4M at current rates (+2% YoY) and €943.6M at constant rates (+6.3% YoY), driven by strong growth in the naval segment and solid industrial performance.
EBITDA rose to €152.4M (16.8% margin), up from €145.7M (16.4%) in H1 2025.
Net profit attributable to the group was €7.3M, while net profit including minorities was €19.4M, both up year-over-year.
Net financial debt improved to €869.9M, down €116.7M from December 2025.
Subsidiaries focused on stock management and prudent financial resource allocation.
Financial highlights
Consolidated revenue: €905.4M (+2% YoY) at current rates, €943.6M (+6.3% YoY) at constant rates; EBITDA: €152.4M (+4.6% YoY); EBIT: €75.9M (+12.2% YoY).
Net profit: €7.3M (0.8% margin) attributable to the group, €19.4M including minorities (+6.9% YoY).
Net financial debt: €869.9M, improved from €986.6M at year-end 2025.
Operating cash flow: €168.4M; investments in tangible and intangible assets: €53M.
Equity: €393.3M, of which €210.2M attributable to the group.
Outlook and guidance
Management highlights ongoing geopolitical and economic uncertainty impacting consumer demand and sector outlook.
Industrial segment to focus on liquidity, productivity, and continued investment in brands and technology.
Naval segment aims to optimize production capacity and expand order backlog.
Real estate/hospitality to continue commercial and rental activities, targeting growth in resort clientele.
- Net sales fell 15.2% to €1,391.6m, net profit dropped 40.8%, but EBITDA margin rose to 16%.IMS
Q3 2024 - Net sales rose at constant FX, cash flow surged, and shipbuilding sales nearly doubled.IMS
Q1 2026 - Record EBITDA margin achieved in 2025 despite lower sales and net profit; no dividend proposed.IMS
H2 2025 - Revenue and profit declined, but naval growth and no interim dividend marked the period.IMS
Q3 2025 - Revenue and profit declined, but naval sector revenue surged over 50%.IMS
H1 2025 - Revenue fell 14.3% but margins held; major naval contract boosted outlook.IMS
H1 2024 - Sales and profits fell, but investments and order backlog support future growth.IMS
Q1 2025 - Despite lower sales, Immsi achieved record margins and expanded its defence order book.IMS
H2 2024
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