Altice France Holding S.A (ALTICE) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was €2,034 million, EBITDA €681 million, and operating free cash flow €430 million.

• Signed a Memorandum of Understanding in June 2026 to sell telecom activities in Mainland France to a consortium for €20.35 billion enterprise value.

• Closed the sale of a 65% stake in Intelcia in April 2026; Altice France remains a key customer.

Financial highlights

• Revenue declined 8.7% year-over-year to €2,034 million in Q2 2026; EBITDA fell 12.9% to €681 million.

• Operating free cash flow increased 6.3% year-over-year to €430 million, driven by lower Capex.

• Accrued Capex was €251 million, down 33.4% year-over-year.

• Free cash flow was negative €160 million in Q2, with net debt increasing by €312 million.

Outlook and guidance

• No formal guidance for 2026; management focused on minimizing net losses and improving P&L trends.

• Pro forma net leverage stands at 5.9x LTM, with pro forma liquidity of €0.43 billion at Q2 2026 end.

• Forward-looking statements highlight risks and uncertainties regarding future performance and market developments.

• Liquidity considered ample to support operations through regulatory review period for the M&A process.