BOA Concept (ALBOA) H1 2026 earnings summary

Executive summary

• Consolidated revenue for H1 2026 increased by 4.8% year-over-year to €11.41M, driven by innovation and a strong rebound in France.

• EBITDA was -€1.7M and net income -€1.6M, both stable compared to H1 2025.

• International expansion continued, with 60% of revenue generated outside France and new contributions expected from Canada in H2.

• Commercial momentum supported by the launch of a new software suite and a solid base of recurring clients.

Financial highlights

• Revenue in France grew 23% to €7.0M, while Easy Systems Benelux declined 16% to €4.2M due to a major contract issue.

• EBITDA margin remained negative at -€1.7M; operating income (REX) was -€2.1M.

• Net income attributable to the group was -€1.6M, slightly lower than -€1.5M in H1 2025.

• Cash and cash equivalents at €3.74M at June 30, 2026.

• Equity stood at €12.7M, with financial debt of €6.7M.

Outlook and guidance

• Strong order book and project pipeline in France and Canada provide visibility through H1 2027.

• Belgian operations expected to slow in H2 2026; Canadian deliveries scheduled for H2.

• Ongoing sector diversification and international growth remain strategic priorities.

• Continued focus on innovation in software, robotics, and AI, with new software suite operational at multiple client sites.