Arverne Group (ARVEN) H1 2026 earnings summary

Executive summary

• Gross business volume rose 60.1% year-over-year to €16.8m, driven by drilling, geothermal, and strategic project execution.

• Revenue for H1 2026 was €7.4m, down 19.6% year-over-year, mainly due to project mix and completion of major drilling projects in 2025.

• Net loss widened to €13.8m from €11.7m in H1 2025, reflecting higher personnel and operating expenses.

• Major milestones achieved in Lithium de France, including successful drilling, DLE demonstrator commissioning, and pilot plant validation.

• Strategic partnerships, new contracts, and €70m in new financing secured to support industrial rollout and growth.

Financial highlights

• EBITDA was negative at €677k, down from €1.7m in H1 2025; consolidated EBITDA loss improved to €10.8m year-over-year.

• Net loss widened to €13.8m from €11.7m in H1 2025; net loss attributable to the group was €12.3m.

• Cash and equivalents decreased to €45.5m as of June 30, 2026, reflecting heavy investment activity.

• Capital expenditures reached €28.6m in H1 2026, mainly for lithium and geothermal projects.

• Net financial debt at -€5.6m as of June 30, 2026; excluding leases, net debt at -€33.8m.

Outlook and guidance

• 2026 and 2031–2033 targets confirmed, including €400m in long-term contracts, 4 TWh/year geothermal production, and 27kt/year lithium carbonate output.

• First heat sales expected in winter 2026/2027; first lithium production from geothermal brines in Alsace in 2027/2028.

• Plans to accelerate drilling and industrial rollout, leveraging €70m in new financing.

• Environmental impact reduction and responsible growth remain strategic priorities.