ALSO (ALSN) H1 2026 earnings summary

Executive summary

• Achieved sustainable profitable growth in H1 2026, with net profit up 61% to €69M, EBITDA rising 29% to €162M, and ROCE at 13% (+1.2pp), driven by scalability, operational improvements, and market share gains.

• Revenue increased 21% to €8.3B, supported by demand for computing capacity, data volumes, AI, and successful M&A integrations.

• Cloud business revenue grew 31% to €1.1B, with unique users up 9% to 6.0M and monetization per user up 12% to €294.

• Operational excellence, logistics optimization, and organizational efficiency improved margins and cost savings, raising the EBITDA margin to 2.0%.

• Integration of new companies in the UK, Ireland, France, and Italy is on track, generating additional value; further acquisitions are under review.

Financial highlights

• Net sales before PvA rose 21% year-over-year to €8,301M in H1 2026.

• Gross profit increased 18% to €490M; EBITDA up 29% to €162M.

• Net profit surged 61% to €69M compared to H1 2025.

• EBT climbed 45% to €94M; ROCE reached 13.0%.

• Basic/diluted EPS increased to €5.47 from €3.38.

Outlook and guidance

• Guidance for 2026 EBITDA confirmed at €425–525M; ROCE target above 25% for 2027–2029.

• Guidance for FY 2026 also confirmed: EBITDA between €300–340M and ROCE above 20%.

• Disciplined strategy execution and focus on ecosystem, platforms, and operational excellence expected to drive further growth.

• Visibility for H2 2026 remains limited due to geopolitical and market uncertainties.