High Co (HCO) Q2 2026 TU earnings summary

Executive summary

• Q2 2026 gross profit reached €19.29m, up 27% reported and €15.61m like-for-like, up 2.8%.

• H1 2026 gross profit was €39.21m, up 26.7% reported and €31.79m like-for-like, up 2.7%.

• Growth was primarily driven by strong performance in France and the integration of Sogec and Budgetbox.

Financial highlights

• Retail Activation division gross profit grew 20.3% in Q2 and 22.3% in H1 reported; 1.5% and 2.5% like-for-like.

• Retail Media division gross profit surged 111.7% in Q2 and 137.7% in H1 reported; 9.8% and 7.8% like-for-like.

• Retail Agencies division posted 2.8% growth in Q2 and 1.4% in H1.

• Group revenue for H1 2026 was €57.7m.

Outlook and guidance

• 2026 guidance confirmed: gross profit expected above €78m, growth over 17% reported.

• Adjusted operating margin forecasted above 12%.

• H1 2026 adjusted operating margin slightly above 16%.