Label Vie (LBV) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue surpassed MAD 10bn for the first time, reaching MAD 10,193m, up 16.8% YoY; retail sales grew 17.4%.

• Expansion accelerated with 72 net store openings, while like-for-like retail sales growth reached 5.4%.

Financial highlights

• Consolidated revenue was MAD 10,193m versus MAD 8,728m in H1 2025; retail revenue was MAD 9,941m versus MAD 8,504m, up 16.9%.

• EBITDA increased 9.7% to MAD 706m; gross margin rose 14.8% to MAD 2,046m, with operating expenses of MAD 1,340m.

• Consolidated net income reached MAD 375m, up 35.9% YoY, supported by operating performance and a one-off property transaction gain.

Outlook and guidance

• FY 2026 ambitions target ~15% growth in retail floor space and revenue, while maintaining a stable EBITDA margin.

• Store ramp-up and the continued opening program support Vision 2028; progress includes 72 net openings in H1.