Unlimit Group (UNLGRP) H1 2026 earnings summary

Executive summary

• Focus shifted to AI-based software and unmanned retail concepts, with increased emphasis on smart vending due to strong market demand.

• Commercialization progressed slower than expected, but market access and strategic partnerships expanded, especially in the Nordics and North Atlantic.

• Divestment of Smart Shop Danmark ApS and leadership changes streamlined operations and sharpened strategic focus.

Financial highlights

• Net loss for H1 2026 was DKK 20.7 million; EBITDA was negative at DKK -1.6 million, impacted by lower-than-expected revenue and extraordinary impairments.

• Revenue for the period was DKK 4.5 million; equity stood at DKK 30.4 million as of June 30, 2026.

• Extraordinary impairments totaled DKK 15 million, mainly due to write-downs of development projects and investments in subsidiaries and associates.

• Cash position at period end was DKK 49,303.

Outlook and guidance

• Positive operating cash flow expected within two months; positive EBITDA targeted by year-end 2026, but full-year pre-tax result will remain negative due to H1 impairments.

• Strategic goal of DKK 500 million cumulative revenue by 2028 is maintained.

• Outlook is subject to uncertainties, especially regarding software source code rights and ability to convert pipeline into orders.