Groupe LDLC société anonyme (ALLDL) Q2 26/27 TU earnings summary

Executive summary

• Q2 FY2026-27 revenue was €132.3M, down 5.3% YoY versus a 14.3% decline in Q1; improving momentum was led by BtoB and Rue du Commerce.

• H1 revenue was €241.3M, down 9.6%; the EBITDA margin target remains at the FY2025-26 level.

Financial highlights

• H1 revenue was €241.3M, down 9.6% YoY; Q2 revenue was €132.3M, down 5.3%.

• H1 business volume was €266.0M, down 6.4%; Q2 was €147.0M, down 1.3%, with marketplace growth at Rue du Commerce widening the gap versus recognized revenue.

• Social-accounts revenue for H1 FY2026-27 was €210.2M.

Outlook and guidance

• FY2026-27 target confirmed: preserve the EBITDA margin at the FY2025-26 level through commercial discipline, cost optimization and controlled inventory.

• H1 inventory reduction of more than €20M was expected to improve working capital and cash generation, with benefits visible in H1 accounts.

• Medium-term demand recovery expected from new graphics-card generations, AI-related PC innovation and structural IT replacement needs.