STEF (STF) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached €2,687.1m, up 8.6% year-over-year, driven by strong organic growth and recent acquisitions.

• Operating income rose to €102.9m, up 84.1% from H1 2025, reflecting normalization after prior exceptional charges.

• Net income Group share surged to €55.9m, a 253.1% increase year-over-year, with EPS at €4.42 (basic).

• New governance structure, organized around France and International, is now fully operational to support strategic priorities and operational excellence.

• International activities now represent 46% of group revenue, with strong contributions from Italy, Spain, Portugal, Benelux, and Switzerland.

Financial highlights

• Turnover rose to €2,687.1m, up 8.6% year-over-year, with 7.1% like-for-like growth.

• Operating income increased to €102.9m, up 84.1% from H1 2025.

• Net income Group share surged to €55.9m, a 253.1% increase year-over-year.

• EBITDA reached €244.4m, up 13% year-over-year.

• Free cash flow improved from -€24.5m in H1 2025 to positive €42.3m.

Outlook and guidance

• Vigilance maintained due to uncertain geopolitical, economic, and financial environment.

• Focus for H2 2026 on integrating recent acquisitions, especially in Benelux, and launching the 2027–2031 strategic plan.

• Continued transformation in digitalization, automation, AI, and energy transition.

• Preparation underway for the 2027–2031 strategic plan to anticipate market changes and strengthen competitive position.