Le Slip Francais (ALLSF) H1 2026 earnings summary

Executive summary

• H1 2026 net income reached breakeven at €2K versus a €133K loss in H1 2025, with gross margin improving 8 pts to 64%.

• H1 revenue was €9.1M; digital sales grew 16%. Cash stood at €4.6M at June 30, 2026.

• Nine-month revenue reached €14.0M, up 12% on a comparable basis; 2026 commercial, operational and financial targets were reaffirmed.

Financial highlights

• H1 revenue was €9.062M versus €9.493M in H1 2025, down 5% reported; sales were up 3% at constant store count versus €8.8M.

• Gross margin rose 9% to €5.782M; gross margin rate increased to 64% from 56%.

• Operating margin increased 23% to €4.457M, or 49% of revenue versus 38%; lower store-network costs contributed.

• Net income was €2K versus a €133K loss; operating income was €269K versus €263K, and financial result was -€222K versus -€197K.

Outlook and guidance

• Guidance reaffirmed: double 2025 revenue by 2030; achieve operating income above 10% in 3–5 years; add 3 industrial cells and 5 everyday-equipment categories by 2030.

• H2 benefits from year-end seasonality, with related inventory already built in H1; plans include integrated T-shirt and sweatshirt production, scaling sock production and third-party manufacturing.

• IPO net proceeds estimated at ~€3.7M, allocated 34% to industrial capacity, 32% to commercial and marketing acceleration, and 34% to working capital.