Colruyt Group (COLR) H1 2026 earnings summary

Executive summary

• Revenue increased by 4.5% to €5.3 billion in H1 2025/26, with 2.2% growth excluding scope changes.

• Operating result (EBIT) fell 15.8% to €213 million; net result from continuing operations dropped 18.5% to €161 million.

• Market share in Belgium declined to 28.8% amid intensified competition and high price/promotional pressure.

• Investments totaled €262 million, focused on store expansion, logistics, automation, and digital transformation.

• Strategic focus remains on food, health, productivity gains, and cost base reduction.

Financial highlights

• Gross profit margin decreased from 30.3% to 30.1%.

• EBITDA declined 4.0% to €422 million (8.0% of revenue).

• Profit for the period was €150 million (2.8% of revenue), down from €194 million (3.8%) year-over-year.

• Earnings per share from continuing operations fell 20.1% to €1.24.

• Net financial debt (including IFRS 16) rose to €654 million; equity at €3.1 billion (49.1% of balance sheet).

Outlook and guidance

• Targeting stable operating and net results for FY 2025/26, matching prior year (excluding French operations and one-offs).

• Market conditions remain challenging due to macroeconomic uncertainty and structural changes in Belgian retail.

• Focus on growth, productivity, and working capital reduction.