Talenom (TNOM) Q2 2026 earnings summary

Executive summary

• Q2 2026 was the first full period post-demerger, with positive progress in strategic focus areas, operational execution, and improvements in employee and customer satisfaction, though profitability was impacted by a non-recurring EUR 1.2 million impairment in Spain.

• Systematic implementation of the ONE Talenom concept and country-specific growth strategies continued across all operating countries.

• The software business was separated into Easor Plc, leaving only the accounting business in continuing operations.

• New software strategy advanced, including cooperation agreements with new system providers to support future growth.

Financial highlights

• Q2 2026 comparable net sales grew 2.8% year-over-year to EUR 30.6 million, driven by Finland and Spain.

• Comparable EBITDA for Q2 2026 declined by 7.1% year-over-year to EUR 5.8 million, impacted by a EUR 1.2 million impairment of trade receivables in Spain.

• Q2 2026 comparable operating profit was EUR 2.3 million, or 7.7% of net sales.

• For H1 2026, comparable net sales increased by 3.7% to EUR 60.8 million.

• Profitability was weakened by integration costs and the impairment in Spain.

Outlook and guidance

• 2026 guidance unchanged: net sales expected at EUR 110–120 million, comparable EBITDA at EUR 18–22 million.

• Demand in accounting services expected to remain stable, with growth mainly organic and supported by acquisitions.

• Profitability improvements anticipated in Sweden and Spain due to integration of the ONE Talenom concept.