Vantiva (VANTI) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 declined 14.7% year-over-year to €734 million, mainly due to lower demand for video products and ongoing supply chain volatility.

• Adjusted EBITDA dropped 34.9% to €43 million, with margin down to 5.8% from 7.6%.

• Net loss narrowed to €68 million from €295 million in H1 2025, reflecting reduced losses from discontinued operations.

• Free cash flow after interest, taxes, and restructuring costs was €30 million, down from €95 million, but remained positive.

• Debt refinancing was completed in June 2026, improving financial flexibility and extending maturities.

Financial highlights

• Revenues fell to €734 million from €861 million year-over-year, with broadband down 5.5% and video down 40%.

• Adjusted EBITDA fell 34.9% to €43 million; adjusted EBITA dropped 52.3% to €17 million.

• EBIT improved to €2 million from a loss of €18 million, mainly due to lower non-recurring items.

• Net financial expenses increased to €59 million, partly due to refinancing fees.

• Capital expenditure was €20 million, down from €27 million in H1 2025.

Outlook and guidance

• Guidance for positive free cash flow for the full year 2026 is confirmed, despite ongoing supply and market uncertainties.

• Revenue outlook remains uncertain due to component supply volatility, but some catch-up in H2 is expected if supply improves.