AS MADARA Cosmetics (MDARA) H1 2026 earnings summary

Executive summary

• Group revenue grew by 17.5% year-over-year in H1 2026, reaching EUR 13.36 million, with EBITDA nearly doubling compared to the same period last year.

• E-commerce accounted for 40% of revenue, with Amazon, TikTok, and Zalando combined more than doubling year-over-year.

• Micro-Keratin Silk Hair Mist became the best-selling product, driving a ninefold increase in turnover and boosting the hair care category.

• Contract manufacturing grew by 50% and now represents 18% of the portfolio.

Financial highlights

• Gross profit increased by 19% to EUR 9.14 million, with gross margin rising to 68%.

• Operating profit reached EUR 1.09 million (up from EUR 196 thousand), and operating margin rose from 2% to 8%.

• EBITDA was EUR 1.51 million (up from EUR 759 thousand), with EBITDA margin increasing to 11%.

• Net profit for the period was EUR 709.8 thousand, compared to EUR 282 thousand last year.

• Depreciation costs decreased by 30% due to the transition to a more efficient e-commerce platform.

Outlook and guidance

• Management maintains a full-year revenue target of at least EUR 25.54 million and a double-digit EBITDA margin.