Aramis Group (ARAMI) H1 2026 earnings summary

Executive summary

• H1 2026 revenue was €1,134.2 million, down 6.5–7% year-over-year, with B2C volumes at 56,444 units, down 7.3%, but performance aligned with expectations and objectives adjusted.

• France outperformed the market by 8.7 percentage points despite a 7.8% market decline; Italy revenue surged 43.2%.

• Customer satisfaction remains high with an NPS of 74.

• Gross profit per B2C vehicle sold (GPU) increased 0.6% to €2,332, reflecting margin resilience.

• Full ownership of all subsidiaries achieved after acquiring remaining UK shares.

Financial highlights

• Revenue declined 6.5–7% year-over-year to €1,134.2 million in H1 2026.

• Adjusted EBITDA fell 28.9% to €23.3 million; operating income dropped 57.4% to €6.6 million.

• Net income was €0.1 million, compared to €6.4 million in H1 2025.

• B2C refurbished segment revenue fell 9.8–10%, B2B down 5–5.2%, while B2C pre-registered and services grew 0.8–1% and 2–2.4% respectively.

• France and Italy posted revenue growth (+4% and +43%), while UK and Austria saw declines (-22% and -28%).

Outlook and guidance

• FY2026 B2C volume guidance set at a minimum of 110,000 units, revised from 115,000.

• Adjusted EBITDA expected between €35–45 million, about 5% of revenues, revised from at least €55 million.

• Medium-term targets of high single-digit organic CAGR growth and adjusted EBITDA at ~5% of revenues confirmed.

• FY26 objectives revised due to Middle East conflict impacting pre-registered segment.