Groupe LDLC société anonyme (ALLDL) H2 25/26 earnings summary

Executive summary

• Achieved annual revenue of €554.1M for 2025-2026, up 3.7% year-over-year, with strong BtoC and BtoB performance despite a challenging economic and geopolitical environment.

• Gross margin rebounded to 24.5%, exceeding the normalized group range, driven by business mix changes and inventory management.

• EBITDA reached €24.2M, a record level outside the COVID period, reflecting improved margins and cost measures.

• Net income turned positive at €10.2M, a significant improvement from the previous year’s loss.

• Successful launch of the LDLC Paris Madeleine boutique and doubling of Rue du Commerce marketplace activity.

Financial highlights

• Revenue increased to €554.1M from €534.5M (+3.7% year-over-year).

• Gross margin improved to 24.5% from 21.1% the previous year, totaling €135.6M.

• EBITDA (EBE) rose to €24.2M (4.4% margin), up from €1.5M (0.3% margin) last year.

• Net income reached €10.2M, up by €21.1M year-over-year.

• Dividend of €0.73 per share proposed, implying a 6.3% yield based on the average share price.

Outlook and guidance

• Focus on capturing new market share and becoming the preferred high-tech brand for a broad audience.

• Acceleration of Rue du Commerce marketplace and continued BtoC growth.

• Targeting gross margin of 22%-23% and maintaining EBITDA margin at 2025-2026 levels.

• Anticipates a temporary slowdown due to delayed Nvidia product launches and ongoing price increases, with medium-term growth expected from new product releases and AI-related developments.