Comer Industries (COM) Q2 2026 earnings summary

Executive summary

• Sales revenues reached €676.3 million for H1 2026, up 51.2% year-over-year, with €151.0 million contributed by the Comtesco acquisition and 17.5% from organic growth.

• EBITDA rose to €100.5 million (14.9% of sales), up 39.9% year-over-year, while EBIT remained at 10.0% of sales, both impacted by the lower-margin Comtesco consolidation.

• Net profit was €45.0 million (6.6% of sales), up 44.1% year-over-year, despite higher financial expenses and a €2.0 million extraordinary tax expense.

• Adjusted net profit reached €53.5 million, with adjusted EPS at €1.74.

• The acquisition of Comtesco significantly expanded the industrial segment and APAC presence.

Financial highlights

• Free cash flow was €29.6 million, stable year-over-year, with €20.0 million in capex.

• Net financial position deteriorated to -€124.6 million, mainly due to the Comtesco acquisition.

• Net equity increased to €625.7 million, up 11.4% from year-end 2025.

• EPS was €1.44, and adjusted EPS was €1.74.

• EBIT rose 51.9% to €67.9 million, with a margin of 10.0%.

Outlook and guidance

• Sales performance expected to align with leading OEMs, with growth from new projects and the Comtesco acquisition.

• Like-for-like profitability anticipated to remain in line with 2025, with further improvement in net financial position expected through ongoing cash generation, excluding extraordinary transactions.