CHAPTERS Group (CHG) CMD 2026 summary

Strategic transformation and business evolution

• Shifted from a decentralized investment holding to an integrated group focused on building industry standards, especially in software and financial technology segments.

• Consolidated three leading brands in the blocked account space into Lumeira, creating a dominant financial technology platform for international students in Germany.

• Accelerated integration and platform unification, moving from a three-brand, multi-platform approach to a single, efficient platform, driving significant operational efficiencies.

• Emphasized replicating the Lumeira playbook across other verticals, aiming to build similar industry clusters in software and mobility.

• Updated guidance due to faster-than-expected execution and organic growth, with a focus on customer-centric consolidation and industry leadership.

Financial performance and guidance

• Lumeira achieved 9% organic revenue growth in 2025, with expectations of 20%+ in 2026, driven by volume, pricing, and improved conversion rates.

• EBITDA growth for Lumeira projected to jump from 14% to over 40% in 2026, mainly from reduced marketing spend, supplier consolidation, and organizational streamlining.

• Peak Mobility, after merger and restructuring, is expected to become EBITDA profitable in 2026, with EUR 3.5–3.6 million in cost savings.

• M&A pipeline remains robust, with EUR 110 million in deals under due diligence, focusing on expanding industry clusters and AI-ready businesses.

• EPS guidance for 2027 remains at EUR 0.80–1.10 per share, with organic growth now seen as the primary driver of long-term value.

• Raised 2026 organic growth target for adjusted operating EBITDA to above 22%, up from mid-teens previously.

• Organic revenue growth for 2026 remains projected in the high single digits, with recurring revenue growth expected to exceed this.

AI strategy and operational transformation

• Launched the RAFO (Red Alert for Opportunity) framework to accelerate AI transformation across all portfolio companies.

• Developed an AI maturity framework to track progress across 27 capabilities, with a focus on foundational, R&D, and support functions.

• Implemented agentic coding factories, enabling legacy and greenfield software development at unprecedented speed and efficiency.

• AI-driven operational improvements include automated service reporting in HVAC, customer support analytics, and digital service assistants in ERP systems.

• Emphasis on reigniting founder mindset and entrepreneurial drive within operating companies to fully leverage AI and market opportunities.