Etex (094124453) H1 2026 earnings summary

Executive summary

• Revenue for the first half of 2026 increased to €2,020 million, up 4.9% year-over-year, with operating income (EBIT) rising to €229.6 million from €201.2 million.

• Net profit attributable to shareholders grew to €151.6 million, a 32.6% increase compared to the same period last year.

• REBITDA increased by 8.8% to €384 million, with a margin of 19.0%.

• Net recurring profit grew 29.5% to €162 million.

• Achieved strong first-half results in a volatile construction market, with improvements in sales volumes, profitability, and margins.

Financial highlights

• Gross profit rose to €641.9 million from €596.9 million year-over-year.

• Recurring operating income (REBIT) reached €246.4 million, up from €219.0 million, with a margin at 12.2%.

• Earnings per share increased to €1.94 from €1.46 year-over-year.

• Cash flow from operating activities improved to €114.4 million from €36.3 million.

• Net financial debt stood at €1,098 million at June 2026, down from €1,219 million in 2025.

Outlook and guidance

• Expects modest progress in revenue, REBITDA, and net recurring profit for full-year 2026, considering ongoing global uncertainties, especially the conflict in Iran.

• No material changes in risk profile or uncertainties compared to the previous year.

• Management will continue to monitor macroeconomic developments and regulatory changes, especially regarding tax and environmental matters.