Deoleo (OLE) H1 2026 earnings summary

Executive summary

• EBITDA grew 52% year-over-year to €33m, driven by tariff reimbursements, cost discipline, and margin growth in strategic markets.

• Net profit surged to €19.4m, supported by US tariff and tax claim reimbursements.

• Revenue declined 8.7% to €393.2m due to lower volumes in Spain and Italy, partially offset by growth in Northern Europe and strategic markets.

• The EVOO-lution roadmap and innovation initiatives validated by strong operational improvements.

Financial highlights

• Revenue: €393.2m (down 8.7% year-over-year).

• EBITDA: €33m (up 52% year-over-year), including €7m from 2026 IEEPA tariff recovery.

• Net profit: €19.4m (up 1047% year-over-year), reflecting €13m in US tariff refunds and a positive tax claim outcome.

• Gross profit: €76m (up 22% year-over-year).

• Available liquidity exceeded €60m at the end of the half-year.

Outlook and guidance

• Management expects annual growth in key metrics, in line with the EVOO-lution Roadmap.

• Plan targets €32m incremental EBITDA for 2025-2028.

• Pro forma leverage expected to fall further to 1.3x after full US tariff reimbursement.