Bastide Le Confort Médical (BLC) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached €260.4M, up 8.0% year-over-year at constant scope, driven by strong organic growth in home healthcare services and technical business activities.

• Operating income rose to €23.5M from €22.5M, and net income surged to €30.6M, mainly due to the Baywater divestiture.

• The group completed the sale of Baywater and acquired a homecare business, focusing on core markets and geographies.

• Operating free cash flow tripled to €24.3M, and financial leverage improved to 2.77x.

Financial highlights

• Revenue: €260.4M (vs. €241.1M at constant scope, +8.0% year-over-year).

• EBITDA rose 10.4% year-over-year to €57.7M, margin at 22.2%.

• Operating income: €23.5M (vs. €22.5M), operating margin near 9%.

• Net income: €30.6M (vs. €2.2M), including €24.4M from discontinued operations (Baywater sale).

• Net financial debt (excl. IFRS 16): €244.3M, down from €354.5M.

Outlook and guidance

• Full-year revenue target confirmed at €510M, adjusted for disposals and potential acquisitions.

• Operating margin expected to remain around 9%.

• Financial expenses expected to decline further in H2, supported by lower leverage.

• Continued deleveraging anticipated through asset disposals, strong cash flow, and disciplined investment.