Saga Furs (SAGCV) H1 2026 earnings summary

Executive summary

• Record-breaking auction sales drove significant increases in revenue and profit for the period 1.11.2025–30.4.2026.

• Strong demand and price increases for mink and fox pelts, with auction prices up 76% and 40% year-over-year, respectively.

• Auction sales value more than doubled to €227 million compared to €101 million in the prior year period.

• Business performance reflects renewed market confidence and a return to sustainable price levels for producers.

Financial highlights

• Revenue rose 56% year-over-year to €21.1 million (from €13.6 million).

• Operating profit improved to €1.4 million (from a €3.4 million loss year-over-year).

• Net profit before taxes was €2.4 million (compared to a €1.9 million loss year-over-year).

• Earnings per share increased to €0.54 (from -€0.72 year-over-year).

• Cash and cash equivalents at period end were €54.6 million (up from €35.3 million year-over-year).

Outlook and guidance

• Two auctions planned for the second half of the fiscal year, with the first starting 26.6.2026.

• Full-year auction sales, revenue, and profit are expected to be significantly higher than the previous year.

• Market sentiment is cautiously optimistic, but auction outcomes remain dependent on multiple factors.