Compagnie de l'Odet (ODET) Q2 2026 earnings summary

Executive summary

• Consolidated revenue for H1 2026 reached €1,644 million, up 8% at constant scope and exchange rates, with reported growth of 6%.

• Adjusted operating income (EBITA) was €97 million, down 20% from H1 2025.

• Net income attributable to the Group was €54 million, compared to €163 million in H1 2025.

• Net cash position stood at €3,658 million as of June 30, 2026, versus €5,126 million at year-end 2025.

• An exceptional interim dividend of €380 per share was declared, totaling €2.5 billion to be paid on September 29, 2026.

Financial highlights

• Revenue increased by 6% as reported and 8% organically, driven by Bolloré Energy (+9%) and Industry (+1%).

• Adjusted EBITA fell 20% to €97 million, with Bolloré Energy EBITA up 77% and Industry losses reduced.

• Net financial result dropped to €45 million from €96 million, mainly due to lower interest rates and dividends.

• Net income was €96 million, down from €257 million in H1 2025.

• Shareholders' equity stood at €20,017 million as of June 30, 2026, down €1,072 million from December 31, 2025.

Outlook and guidance

• The group maintains strong liquidity with €7 billion in available cash and confirmed credit lines.

• No significant changes in performance indicators or accounting definitions; outlook remains cautious amid market volatility.

• Post-closing, a €2.5 billion exceptional interim dividend will be paid on September 29, 2026.

• Strategic refocusing on fourth-generation battery development for Blue Solutions and Bluebus production discontinuation announced.

• Ongoing legal proceedings regarding Vivendi control, with recent court decisions favoring the group but further appeals pending.