Altri (ALTR) Q2 2026 earnings summary

Executive summary

• Q2 2026 saw a significant operational recovery after Q1 storm disruptions, with normalization of logistics and production.

• Revenues reached €204.6M, up 20.8% year-over-year and 27.7% sequentially, driven by higher sales volumes and strong DP growth.

• EBITDA was €30.0M, up 6.5% year-over-year, with a margin of 14.7%.

• Strategic diversification advanced, including Biotek’s DP conversion, Caima’s acetic acid/furfural ramp-up, and AeoniQ demo project progress.

• Sustainability achievements included CDP Supplier Engagement leadership and inclusion in TIME's most sustainable companies ranking.

Financial highlights

• Q2 revenues were €204.6M, up 20.8% year-over-year and 27.7% sequentially.

• EBITDA reached €30.0M, up from €5.4M in Q1 and €28.2M in Q2 2025.

• EBIT was €18.5M, up 9.5% year-over-year.

• Net profit was €12.9M, doubling year-over-year and rebounding from a Q1 loss.

• Net debt increased to €397.9M at June-end, mainly due to dividend payments and ongoing investments.

Outlook and guidance

• Market conditions improved, with stable pricing for BHKP and DP expected in H2 2026.

• Operational disruptions from Q1 are largely resolved; focus remains on executing diversification strategy.

• Wood and logistics costs are expected to normalize further in H2.

• Full ramp-up of Biotek’s DP conversion and Caima’s acetic acid/furfural project expected by year-end.

• Cash cost guidance for 2026 remains at mid-single digits, with blended costs stabilizing.