Aramis Group (ARAMI) H1 2026 earnings summary

Executive summary

• H1 2026 revenue was €1,134.2 million, down 6.5% year-over-year, with 56,444 B2C units sold amid challenging macroeconomic and operational conditions.

• Net profit was €0.1 million, a sharp decline from €6.4 million in H1 2025, reflecting market and operational headwinds.

• Adjusted EBITDA fell 28.9% to €23.3 million; operating income dropped 57.4% to €6.6 million.

• Gross profit per B2C vehicle sold (GPU) increased 0.6% to €2,332, showing margin resilience.

• Customer satisfaction remains high with an NPS of 74.

Financial highlights

• Revenue declined 6.5% year-over-year to €1,134.2 million.

• B2C refurbished segment revenue fell 9.8%, B2B down 5.2%, while B2C pre-registered and services grew 0.8% and 2.4% respectively.

• France revenue grew 3.7% to €538.7 million, Italy surged 43.2%, while UK and Austria saw sharp declines.

• Gross profit per B2C vehicle sold rose to €2,332 (+0.6%).

• Net debt increased to €39.7 million, mainly due to a €34 million earn-out payment for Motordepot.

Outlook and guidance

• FY2026 B2C volume guidance set at a minimum of 110,000 units, revised from 115,000.

• Adjusted EBITDA expected between €35–45 million, down from previous guidance of at least €55 million.

• Medium-term targets reaffirmed: high single-digit organic CAGR growth and adjusted EBITDA at ~5% of revenues.

• FY26 objectives revised due to Middle East conflict impacting pre-registered segment.