Moury Construct (MOUR) H1 2026 earnings summary

Executive summary

• H1 2026 revenue grew 18.1% YoY to €147.6m, following completion of major projects; operating income rose 23.6% to €22.5m.

• Net income increased 14.5% YoY to €17.5m.

Financial highlights

• Operating expenses rose 17.1% YoY to €126.2m, including purchases of €111.8m and personnel costs of €12.8m.

• Financial result was a €0.8m gain vs. €3.0m in H1 2025; financial income primarily reflected interest on cash investments, while expenses mainly reflected negative fair-value changes in portfolio shares.

• Equity was €160.4m at June 30, 2026, up 5.7% from December 31, 2025; total assets were €272.2m, up 8.0%.

Outlook and guidance

• Projects were progressing in line with forecasts; the board expects FY 2026 operating income to grow YoY, mainly on higher activity volume, with operating margin maintained.

• Order book stood at €370m as of August 31, 2026.