STEF (STF) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 rose 8.6% year-over-year to €2,687.1 million, driven by strong organic growth and contributions from both France and international operations, including recent acquisitions.

• Operating income increased to €102.9 million, up 84.1% from H1 2025, reflecting normalization after exceptional items and improved international performance.

• Net income (Group share) surged to €55.9 million, a 253.1% increase year-over-year, with EPS at €4.42 (basic).

• New governance structure, organized around France and International, is now fully operational to support strategic priorities and operational excellence.

• Continued investment in digitalization, automation, and energy transition, while integrating acquisitions and preparing the 2027–2031 strategic plan.

Financial highlights

• Revenue: €2,687.1 million (+8.6% year-over-year; +7.1% like-for-like).

• Operating income (EBIT): €102.9 million (+84.1% year-over-year).

• Net profit: €55.9 million (+253.1% year-over-year).

• EBITDA reached €244.4 million, up 13% year-over-year.

• Free cash flow improved from -€24.5 million in H1 2025 to €42.3 million.

Outlook and guidance

• Vigilance maintained due to uncertain geopolitical, economic, and financial environment, with focus on sustaining growth and integrating acquisitions.

• Preparation underway for the 2027–2031 medium-term plan, emphasizing digital, automation, AI, and energy transition.

• Continued efforts in Benelux to achieve sustainable profitability.