Euroapi S.A. (EAPIF) Q2 2026 Earnings Call Transcript

SA Transcripts 161.33K Followers Follow Euroapi S.A. ( EAPIF ) Q2 2026 Earnings Call July 30, 2026 2:30 AM EDT Company Participants David Seignolle - Chief Executive Officer Olivier Falut - Chief Financial Officer Presentation Operator Ladies and gentlemen, welcome to the Euroapi 2026 Half Year Results Presentation. This call will be structured in 2 parts. First, a presentation by the Euroapi Group management team represented by David Seignolle, CEO; and Olivier Falut, CFO. Afterwards, there will be a Q&A session. [Operator Instructions] I will now hand over the call to David Seignolle to begin. David Seignolle Chief Executive Officer If we can move to the following slides. Thank you. So before we begin, I would like to mention that our Head of Investor Relations, Sophie Palliez, is unfortunately unable to join us today due to personal reasons, and we wish her well. Let me now begin with a snapshot of our first half performance before Olivier takes you through the financial results in more detail. In the first half of 2026, Euroapi generated net sales of EUR 356 million. Core EBITDA amounted to EUR 20.7 million, representing a 5.8% margin while EBITDA was negative EUR 43.1 million, reflecting the nonrecurring costs associated with the continued execution of FOCUS-27. We maintain a disciplined investment approach with EUR 39.1 million of CapEx, nearly 2/3 of which were dedicated to growth and performance projects. Finally, we ended the first half with a net debt position of EUR 37.9 million, reflecting both our investment program and the expected evolution of working capital during the period. Beyond these headline figures, I believe there are 3 key takeaways from the first half. The first message is that our transformation continues to progress on schedule despite a challenging business environment. As expected, our sales were impacted by the continued evolution of our portfolio towards more differentiated and