Guillemot (GUI) H1 2026 earnings summary

Executive summary

• Turnover for H1 2026 was €49.6 million, down 4% year-over-year, mainly due to product discontinuation and logistical issues in Asia.

• Net operating income improved to €-0.3 million from €-2.7 million, aided by a €3.8 million gain from the reversal of U.S. import tariffs.

• Consolidated net income was €-1.3 million, a significant improvement from €-3.6 million in H1 2025.

• Governance changes included the appointment of a new Chairman and CEO following the passing of a key executive.

Financial highlights

• Gross profit margin increased by 9 percentage points year-over-year due to a favorable product mix and tariff reversal.

• Net financial income was €0.8 million, including a €0.5 million unrealized loss on Ubisoft shares and a €1.1 million FX gain.

• Earnings per share improved to €-0.09 from €-0.25 year-over-year.

• Shareholders' equity stood at €92.5 million as of June 30, 2026.

• Net debt (excluding investment securities) was negative at €-21.2 million.

Outlook and guidance

• 2026 turnover is expected to be stable and close to 2025 levels, revised due to logistical disruptions and a postponed product launch.

• The group maintains its target of achieving an operating margin of approximately 5% of consolidated revenue.

• Major product launches are scheduled for H2 2026, expected to drive performance.