Arcure: Revenue Up 3.4% in H1, Indirect Channels Jump to 57%
Arcure reported a semi-annual revenue of €6.5 million, up 3.4% compared to the first half of 2025, marking a return to growth in a persistently challenging industrial environment. This moderate progress is supported by a major restructuring of the commercial framework: indirect channels (distributors and OEM partners) now account for 57% of revenue, up from 30% a year earlier, signaling that the group's reorientation strategy is producing its first measurable effects.
Modest Growth Driven by Asia-Pacific and Indirect Distribution
The revenue for the first half of 2026 reached €6.5 million, up 3.4% year-over-year. This increase occurs in a context of general economic sluggishness, particularly in Europe and France, where activity has contracted. The Asia-Pacific region drives the semester's growth, with revenues of €1.3 million, accounting for 20% of the total, compared to just €46K a year earlier. The rest of the world records a 41.9% increase, illustrating the expansion of the distribution network. The share of international business has risen to 83%, up from 73% in the 2025 fiscal year, confirming an acceleration of the group's geographic presence. Declining results in North America reflect a local reorganization necessitated by previous underperformance.
Radical Restructuring of Indirect Channels Boosted by Distributors and OEMs
The standout feature of the semester is the radical restructuring of sales channels. Sales through distributors surged by 95.3% to reach €2.9 million, while OEM sales jumped by 91.5% to €0.7 million. Combined, these two indirect channels now represent 57% of revenue, up from 30% in the first half of 2025. Conversely, direct sales to end customers and dealerships have declined, in line with the group's strategy to favor distribution and OEM sales. According to the group, this new structure strengthens revenue recurrence and creates a commercial leverage effect. Specifically on the OEM front, Arcure continues discussions with about twenty manufacturers and tier 1 suppliers, alongside agreements already signed with Jungheinrich and Bomag. Franck Gayraud, CEO and co-founder, mentions a major new agreement in advanced negotiation stages, expected to be announced by the end of the year.
2026 Profitability Target Confirmed Despite Moderate Growth
Arcure maintains its goal of returning to profitability for the full 2026 fiscal year. The group relies on three levers for this: the continuation of revenue recovery, the ramp-up of its distribution and OEM channels, and the twelve-month effect of cost-saving measures launched in 2025. According to Arcure, these measures permanently lower the group's fixed cost base and preserve its financial structure. An investor webinar is scheduled for July 20, 2026, and the complete results for the first half will be published on September 25, 2026.
