Fabbrica Italiana Lapis ed Affini (FILA) Q2 2026 earnings summary

Executive summary

• H1 2026 delivered strong operational growth, especially in Q2, driven by the Seven Group acquisition, improved organic growth in Europe and North America, and a shift in business seasonality toward the center of the year.

• Enhanced financial flexibility was achieved through debt refinancing and the sale of a 7% stake in DOMS, with proceeds used for deleveraging and capital returns.

• Net profit surged, supported by a capital gain from the DOMS stake sale, while operational efficiency and production reorganization improved margins.

• Extraordinary dividend of €0.46 per share was proposed, and a share buyback program continued with 467,758 shares repurchased out of 1.3 million authorized.

• Net financial debt improved year-over-year, aided by strong cash flow and asset disposals.

Financial highlights

• H1 2026 revenue reached €343.4 million, up 12.2% year-over-year at constant FX, including €44.3 million from Seven Group.

• Adjusted EBITDA was €75.9 million, up 20.4% year-over-year, with a margin of 22.1%.

• Adjusted net profit rose to €37.9 million from €22.6 million, while reported net profit increased to €59.3 million, mainly due to the DOMS stake sale.

• Free cash flow to equity improved to -€60.3 million from -€70.1 million, despite Seven Group's cash absorption.

• Net bank debt was €200.9 million, down €35.4 million year-over-year.

Outlook and guidance

• Full-year 2026 guidance confirmed: double-digit growth in revenue and adjusted EBITDA, with positive organic growth.

• Free cash flow to equity projected at €40–50 million; dividend payout ratio targeted at 20–40% under normal conditions.

• CapEx for 2026 expected at €20 million, with a €10 million change in net working capital.

• Macroeconomic uncertainties persist, including geopolitical tensions, inflation, and evolving U.S. tariff policies.