Cancom (COK) Q2 2026 earnings summary

Executive summary

• Group revenue for H1.26 was €775.9m, down 3.5% year-over-year, while EBITDA rose 34.1% to €49.2m, reflecting improved profitability and cost-saving measures initiated in 2025.

• Gross profit increased by 2.2% to €343.3m, driven by a strong services business despite weak IT hardware demand.

• EBITA and EBIT more than doubled, reaching €21.5m and €17.8m, respectively.

• Profit for the period increased to €11.3m from €2.7m year-over-year.

• Headcount decreased by 4.3% year-over-year to 5,216.

Financial highlights

• H1.26 group revenue declined 3.5% year-over-year to €775.9m; EBITDA increased 34.1% to €49.2m.

• Gross profit improved to €343.3m, up from €336.0m.

• Q2.26 revenue was €368.9m, down 6.2% year-over-year; Q2.26 EBITDA rose 41.4% to €22.2m.

• Earnings per share from continued operations in H1.26 was €0.38, up from €0.09 in H1.25.

• Cash and cash equivalents fell to €21.5m from €198.9m at year-end 2025.

Outlook and guidance

• 2026 forecast confirmed: revenue expected between €1,750m and €1,850m, EBITDA between €110m and €130m, EBITA between €55m and €75m.

• Management expects positive IT market trends in Germany and Austria, especially in H2 2026, driven by digitalisation and AI adoption.

• Macroeconomic and geopolitical uncertainties, as well as cautious customer investment, may impact demand.