Deoleo (OLE) H1 2026 earnings summary

Executive summary

• EBITDA grew 52% year-over-year to €33m, driven by tariff reimbursements and cost discipline.

• Net profit surged to €19.4m from €1.7m, aided by US tariff and tax claim reimbursements.

• Revenue declined 8.7% to €393.2m due to lower volumes in Spain and Italy, partially offset by growth in Northern Europe and strategic markets.

• Gross profit rose 22% (11% excluding tariff effects), reflecting improved procurement and pricing.

Financial highlights

• Revenue: €393.2m (down 8.7% year-over-year).

• EBITDA: €32.9m (up 51.5% year-over-year).

• Net profit: €19.4m (up 1047% year-over-year).

• Gross profit: €75.6m (up 21.7% year-over-year).

• Net debt: €106.4m (vs. €98.1m at year-end 2025); leverage ratio improved to 1.4x from 1.7x.

• Working capital increased to €102.1m, reflecting procurement strategy.

Outlook and guidance

• Management expects annual growth in key metrics, in line with the EVOO-lution Roadmap.

• Pro forma leverage expected to fall further to 1.3x after full US tariff reimbursement.