Vantiva (VANTI) investor relations material

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 fell 34.9% to €43 million, with margin dropping to 5.8% from 7.6% in H1 2025, reflecting resilience despite lower volumes and unfavorable product mix.

• 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 remained positive at €30 million, though down from €95 million a year earlier.

• Debt maturities were extended and refinancing completed in June 2026, improving financial flexibility and reducing future financing costs.

Financial highlights

• Revenue for H1 2026 declined 14.7% to €734 million, with broadband down 5.5% and video down 40%.

• Adjusted EBITDA was €43 million, down from €66 million, with a margin of 5.8% (down 177 bps year-over-year).

• Adjusted EBITA dropped 52.3% to €17 million.

• Net result for continuing operations was a loss of €66 million, a €7 million improvement year-over-year.

• Free cash flow after financial, tax, and restructuring costs was €30 million, compared to €95 million in H1 2025.

Outlook and guidance

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

• Stronger activity is anticipated in H2, driven by catch-up demand and reversal of unfavorable phasing, but performance remains dependent on component availability.