Netum Group (NETUM) Q2 2026 earnings summary

Executive summary

• Revenue for January–June 2026 declined 25.5% year-over-year to EUR 16.0 million, with a comparable EBITA of EUR -0.2 million (-1.1% margin).

• The period was marked by operational adjustments, delayed project starts, increased employee turnover, and investments in AI and cybersecurity, impacting short-term profitability.

• The acquisition of Cyberwatch Oy in April 2026 expanded cybersecurity capabilities and is expected to support medium-term growth targets.

Financial highlights

• April–June 2026 revenue fell 25.7% year-over-year to EUR 7.6 million; EBITDA was EUR -0.4 million (-5.3% margin).

• January–June 2026 EBITDA was EUR -0.1 million (-0.8% margin); result for the period was EUR -0.7 million (-4.1% margin).

• Earnings per share for the half-year were EUR -0.05 (vs. EUR 0.08 prior year).

• Cash flow from operating activities was EUR -0.8 million; cash and equivalents at period end were EUR 0.2 million.

Outlook and guidance

• 2026 revenue is now expected to decrease clearly from 2025 (EUR 37.8 million), with comparable EBITA margin to fall below the previous year's 5.5%.

• Guidance was lowered due to slower project starts, lower volumes in existing projects, and reduced delivery capacity.