Spadel (SPA) H1 2026 earnings summary

Executive summary

• Revenue grew by 10.1% year-over-year in H1 2026, driven by strong local brands, innovation, and favorable weather conditions.

• Operating profit increased by 22.4% compared to H1 2025, reflecting higher sales volumes and effective cost management.

• Growth was observed across all operating regions: Belgium, Netherlands, Luxembourg, France, and Bulgaria.

Financial highlights

• Net turnover reached €219.9 million, up 10.1% year-over-year.

• EBIT rose to €41.5 million, a 22.4% increase from H1 2025.

• Net profit for H1 2026 was €32.6 million, up 21.7% year-over-year.

• EBITDA reached €53.6 million, up 19.6% from H1 2025.

• Gross cash flow before tax was €51.7 million, compared to €43.8 million in H1 2025.

Outlook and guidance

• Full-year 2026 results are expected to surpass 2025, assuming continued favorable market conditions.

• Ongoing innovation, especially in functional drinks, is expected to drive further growth.

• The group remains cautious about geopolitical, macroeconomic, and regulatory risks that could impact costs.