Hunyvers (ALHUN) H2 2026 earnings summary

Executive summary

• FY2025-26 revenue rose 1.7% to €124.7M; at constant scope, growth was 0.7%, with Q4 growth accelerating to 4.9%.

• Operating profit is now expected to be negative, pressured by VDL destocking and boat-rental disruption after concession closures caused by fires.

Financial highlights

• FY revenue was €124.7M, up 1.7% reported; €1.2M came from scope effects, while constant-scope growth was 0.7%.

• Q4 revenue increased 4.9% to €37.8M; quarterly constant-scope trends improved from -7.9% in Q1 and -0.9% in Q2 to +3.5% in Q3 and +4.9% in Q4.

Outlook and guidance

• FY2026-27 visibility is limited in both businesses; economic tensions and inflation are driving caution reflected in order books, particularly in VDL.

• Acquisition of 51% of IBH is expected to close in calendar Q1 2027, subject to ongoing audits and competition-authority review.