Assystem (ASY) Q2 2026 TU earnings summary

Executive summary

• Consolidated revenue for H1 2026 reached €328.5 million, up 0.6% year-over-year, with organic growth of 2.5%.

• Strong performance in nuclear activities, which grew organically by 8.0% and now represent 81% of total revenue.

• Revenue in France increased by 4.2% year-over-year, driven by nuclear sector momentum and major projects.

• International revenue was stable organically but declined 4.5% due to negative currency effects, particularly in the MECA region and India.

• Growth in the UK was robust, benefiting from new contracts, while MECA and India faced declines due to project completions and contract phasing.

Financial highlights

• H1 2026 group revenue: €328.5 million vs €326.4 million in H1 2025 (+0.6% reported, +2.5% organic).

• France revenue: €201.1 million (+4.2% year-over-year, all organic).

• International revenue: €127.4 million (-4.5% reported, 0.0% organic).

• Q1 2026 group revenue: €165.8 million (-0.3% reported, +2.2% organic); Q2 2026: €162.7 million (+1.6% reported, +2.9% organic).

Outlook and guidance

• Full-year 2026 targets reaffirmed: organic revenue growth of 2–4% and EBITA margin around 7%.

• Uncertainty remains regarding the impact of the Middle East conflict on future performance.