Compagnie de l'Odet (ODET) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue increased 6.5% at constant scope and exchange rates, reaching €815 million, with reported growth of 4.3% year-over-year.

• Bolloré Energy drove growth with a 7.9% revenue increase, while industrial activities declined 3.2% due to lower Bluebus and Specialized Terminals sales.

Financial highlights

• Total Q1 2026 revenue: €815 million, up from €782 million in Q1 2025.

• Bolloré Energy revenue: €731 million (+7.9% organic growth); Industry: €74 million (-3.2% organic growth); Other: €10 million (-13.7% organic growth).

• Reported revenue growth of 4.3% includes a -€16 million scope change from the Foresea Technologies transaction.

Segment performance

• Bolloré Energy benefited from higher oil product prices due to Middle East conflict, offsetting a slight decline in sales volumes.

• Industrial activities saw growth in Films but declines in Bluebus and Specialized Terminals.

• Other segment revenue dropped sharply, mainly due to lower contributions from agricultural assets and holdings.