SMG Swiss Marketplace Group (SMG) H1 2026 earnings summary

Executive summary

• Leadership transition announced: Alberto Sanz de Lama to become CEO in January 2027, with Christoph Tonini proposed as Chairman and Jörn Nikolay stepping down as Chairman but remaining on the Board, ensuring continuity in strategy.

• Achieved double-digit revenue growth of 11.3% year-over-year to CHF 179.8 million, with all core business units contributing and strong KPIs across segments.

• Adjusted EBITDA rose 15.8% year-over-year to CHF 101.5 million, with margin expanding by 2.2pp to 56.5% due to operating leverage and disciplined cost management.

• AI initiatives and product innovation scaled successfully, enhancing customer experience, operational efficiency, and competitive position.

• Profit after tax doubled to CHF 56.4 million, reflecting strong operational performance and absence of prior-year IPO costs.

Financial highlights

• Group revenue grew 11.3% year-over-year to CHF 179.8 million, with double-digit growth in all core segments.

• Adjusted EBITDA increased 15.8% to CHF 101.5 million; margin expanded to 56.5%.

• EPS doubled year-on-year to CHF 0.57, reflecting lower IPO-related costs and strong operational performance.

• Leverage ratio at 0.7x adjusted EBITDA, indicating strong financial flexibility.

• CapEx decreased to CHF 14 million (7.8% of revenue), supporting innovation within current resources.

Outlook and guidance

• Full-year 2026 revenue growth guidance narrowed to 11%-12%, at the upper end of previous range.

• Adjusted EBITDA margin guidance confirmed at 56%-58%.

• CapEx guidance improved and narrowed to 7.5%-8.5% of revenue.

• Midterm outlook remains unchanged, with confidence in delivering on commitments and EBITDA margin expected to increase to low-to-mid 60% range.

• Continued focus on product-led monetisation and ongoing investment in AI and digital capabilities.