Hexaom (ALHEX) Q2 2026 TU earnings summary

Executive summary

• Revenue for H1 2026 increased by 12.1% year-over-year to €343.6M, with Q2 revenue up 13.8% to €184.2M.

• Growth driven primarily by the Construction de Maisons segment, which rose 18.8% to €281.9M in H1.

• Renovation revenue grew 2.0% to €20.4M, with strong performance in the "Intermédiée" channel (+17.6%).

• Promotion Immobilière revenue declined 17.6% to €33.7M due to a high base effect from a major project in H1 2025.

• Commercial activity remains resilient despite a more cautious market environment.

Financial highlights

• Total H1 2026 revenue: €343.6M (+12.1% year-over-year); Q2 2026 revenue: €184.2M (+13.8%).

• Construction de Maisons: €281.9M (+18.8%); Renovation: €20.4M (+2.0%); Intermédiée: €10.0M (+17.6%).

• Contractant général: €10.4M (-8.8%); Promotion Immobilière: €33.7M (-17.6%); Aménagement Foncier: €7.1M (-10.1%).

• Services: €0.5M (+25.0%).

Outlook and guidance

• Forecasts 20% revenue growth for 2026, with operational profitability expected to exceed 5%.

• Backlog in Promotion at €155.1M and potential stock to deliver at €409.6M (1,705 units).

• Aménagement Foncier order book at €14.5M (184 lots), supporting future activity.

• Focus on operational efficiency, cost control, and market share gains amid inflation and geopolitical uncertainty.