Groupe LDLC société anonyme (ALLDL) H1 25/26 earnings summary

Executive summary

• Achieved a strong rebound and marked return to profitability in H1 2025-2026, with revenues up 9.5% year-over-year to €266.8M and a gross margin rate of 22.5%.

• Positive operating income of €4.4M, a €13.1M improvement from the prior year, and net income of €1.5M, positive for the first time in three years.

• Strategic initiatives, including the acquisition of Rue du Commerce and the launch of the LDLC Paris Madeleine boutique, contributed to growth and market outperformance.

Financial highlights

• Revenue for H1 2025-2026 reached €266.8M, up 9.5% year-over-year.

• Gross margin improved to 22.5% from 21.1% a year earlier, with gross profit at €60.0M, up 17.0% year-over-year.

• EBITDA was €8.5M (3.2% margin), compared to -€2.5M last year, up €10.9M.

• Operating expenses decreased by 5.4% despite revenue growth, with staff costs down 11.5%.

• Net financial expense rose to €2.6M, mainly from non-recurring, non-cash provisions.

Outlook and guidance

• Expects continued growth and improved profitability in H2, supported by favorable seasonality and full impact of cost-saving and organizational adaptation measures.

• Aims to capture new market share, accelerate Rue du Commerce, and maintain financial strength.

• Financial base expected to strengthen as working capital normalizes and profitability improves.

• No significant supply chain risks anticipated; inventory and cash position sufficient to manage potential memory chip shortages.

• Anticipates a record year outside the COVID period, driven by demand rebound and market share gains.