Hunyvers (ALHUN) H1 2026 earnings summary

Executive summary

• Revenue for the first half of FY 2025-2026 reached €47.6M, down 2.2% year-over-year, with a nearly stable second quarter (-0.9%).

• New vehicle sales in the leisure vehicles segment rebounded in Q2 (+5.7%), with further acceleration in March.

• Nautical segment posted strong growth, up 47.1% reported and 21.6% organic for the semester.

• Order books remain robust in both core segments, supporting a positive outlook for the remainder of the year.

Financial highlights

• Leisure vehicles (VDL) revenue declined 7.4% to €40.7M, mainly due to a drop in used vehicle sales (-11.2%).

• New VDL sales fell 5.9% over six months but grew 5.7% in Q2.

• Associated services revenue increased 1.2% for the semester, with a 7.9% rise in Q2.

• Nautical segment revenue reached €6.9M, up 47.1% reported and 21.6% organic.

• Acquisitions contributed €1.2M, notably from Les chantiers navals du bassin d'Arcachon.

Outlook and guidance

• Management confirms expectations for a return to positive momentum in both activity and operational profitability for FY 2025-2026.

• Strong order intake in both segments and favorable market trends support the outlook.

• Anticipates acceleration in activity in H2, driven by new VDL collections and peak nautical season.