Vincit (VINCIT) Q2 2026 earnings summary

Executive summary

• Revenue for January–June 2026 declined 15.4% year-over-year to EUR 31.3 million, reflecting cautious customer investment and reduced billable personnel.

• Profitability improved due to efficiency measures, with adjusted EBITA at EUR 0.2 million (0.5% of revenue) versus EUR -0.2 million (-0.5%) a year earlier.

• Acquisition of Data Clinic Oy in May 2026 strengthened data and analytics capabilities and led to organizational restructuring.

• The company is focusing on AI-driven business transformation, with 80% of annual AI project targets achieved in H1.

Financial highlights

• Q2 2026 revenue was EUR 14.8 million, down 15.5% year-over-year; adjusted EBITA improved to EUR -0.1 million from EUR -0.5 million.

• H1 2026 EBITA was EUR -0.5 million (-1.4% margin), EBIT EUR -0.7 million (-2.4% margin), and net loss EUR -0.9 million.

• Earnings per share for H1 was EUR -0.05, improved from EUR -0.14 year-over-year.

• Cash flow from operations was EUR 2.7 million, supported by working capital management.

• Equity ratio at period end was 61.9%; net gearing was -4.2%.

Outlook and guidance

• The adjusted EBITA margin for 2026 is expected to improve from the previous year.

• Financial targets for 2025–2027 include a 10% adjusted EBITA margin by 2027 and 10% organic revenue growth in 2026–2027.