Osmosun (ALWTR) H1 2026 earnings summary

Executive summary

• H1 2026 saw a 63% year-over-year revenue increase to €1.0 million, reflecting early benefits from the merger with Watera International and a shift to higher-margin, standardised equipment.

• Cost reduction and operational efficiency measures since H2 2025 led to significant improvements in EBITDA and net loss.

• The merger with Watera International, approved in September 2026, is expected to further strengthen financial structure and support growth.

Financial highlights

• Revenues rose to €1.0 million in H1 2026 from €0.6 million in H1 2025, driven by new contracts in the Caribbean, Pacific, Africa, and New Caledonia.

• EBITDA loss improved to €0.7 million from €1.2 million year-over-year, aided by a 45% reduction in external expenses and a 35% drop in personnel costs.

• Operating loss and net loss both narrowed to €0.8 million from €1.4 million and €1.5 million, respectively, in H1 2025.

Outlook and guidance

• Contracts signed to date represent €0.6 million in revenues, to be recognised mainly in H2 2026.

• The merged entity will publish consolidated financials from 2026, with enhanced capacity for organic growth and M&A.

• Continued focus on cost streamlining, integration of Unibios Group practices, and higher-margin product mix.