September 17, 2026
Exit from a major telecommunications framework contract in France, the final step in the Group’s transformation
- Exit from a large French contract in this sector, operating at a loss and accounting for 13% of consolidated revenue (2025)
- Elimination of the Group’s main source of losses and refocusing of its French operations on the Energy and Technology markets
- Deliberate reduction in revenue to sustainably improve the Group’s profitability
Earnings for the first half of 2026 reflect the impact of the final streamlining measures
- Revenue of €400.3 million is down -11.1%1, primarily reflecting the accelerated withdrawal from the framework contract in the telecommunications segment in France
- Adjusted EBITDA of €17.0 million, representing a margin of 4.2%, down 280 basis points, reflecting the temporary effects of final transformation measures in France and a repositioning of the customer base in Germany
- Net income attributable to the Group of €-24.5 million, compared with €-16.8 million in the first half of 2025
- Gross cash of €46.3 million and net bank debt of €67.1 million at the end of June 2026, compared to €56.1 million at the end of June 2025
The second half of 2026 will be devoted to completing the transformation, paving the way for a new cycle in 2027
- Completion by the end of 2026 of the exit from the French telecommunications contract and all associated restructuring measures
- Germany: Initial effects of the repositioning are expected, with a significant improvement in margins in the second half of the year
- Starting in 2027, a more focused scope of operations, a more favorable business mix, and an optimized cost structure will pave the way for a marked improvement in the Group’s profitability