Auga Group (AUG1L) Q2 2026 earnings summary

Executive summary

• The group faced significant challenges in H1 2026, including ongoing restructuring processes and the sale of a major subsidiary, Baltic Champs, to address financial distress and restore long-term solvency.

• Restructuring plans were approved and are being implemented across 11 group entities, with creditor oversight and governance changes.

• The sale of Baltic Champs was completed in February 2026, resulting in a substantial loss from discontinued operations.

Financial highlights

• H1 2026 revenue was €13.84m, down 15% year-over-year, mainly due to a 19% drop in raw milk prices and lower crop sales.

• Gross profit fell 59% to €0.93m, with a gross margin of 7% (down from 14%).

• Net loss from continuing operations was €6.94m, compared to a €4.06m loss in H1 2025.

• Including discontinued operations, total net loss reached €21.2m, driven by a €14.3m loss from the sale of Baltic Champs.

• EBITDA was €3.49m, down 47% year-over-year.

Outlook and guidance

• The group’s ability to continue as a going concern depends on successful restructuring, asset sales, and achieving operational targets.

• Liquidity and financing risks remain elevated due to high working capital needs and limited access to new funding.