SRP Groupe (SRP) Q3 2026 TU earnings summary

Executive summary

• Q3 2026 revenue returned to growth at 0.7% YoY, the first increase in 14 quarters on a basis excluding The Bradery; GMV decline narrowed to 3.3% from 5.2% in H1.

• International growth and Fashion strength supported the improvement, while Home and Beauty remained significant drags.

Financial highlights

• 9M GMV was €529.3m, down 4.7% YoY; net revenue was €320.8m, down 6.2%, excluding The Bradery from the comparison.

• Q3 GMV was €162.9m, down 3.3% YoY; net revenue was €102.7m, up 0.7% on the adjusted comparison basis.

• Q3 internet revenue rose 2.4% to €101.5m; international internet revenue increased 10.7% to €29.3m, while France declined 0.6% to €72.2m.

Outlook and guidance

• Priorities for the remainder of FY26 include turning around Home & Tech and Beauty, strengthening sales teams, improving customer experience, controlling costs and optimizing the organization.

• Growth plans focus on international operations, Marketplace and Social Retail Media; current improvement remains fragile, with sustainable and profitable growth an ambition rather than quantified guidance.

• FY26 annual revenue publication is scheduled for 28 January 2027.