Klea Holding: Revenue Down 20% at Constant Exchange Rates in H1, Smart Salem Returns to Growth in June
Klea Holding reported a consolidated revenue of €8.6 million in the first half of 2026, down 20% at constant exchange rates and 25% in reported data. After a significant drop in March, Smart Salem's monthly revenue improved sequentially from April and exceeded its June 2025 level in June. Meanwhile, the Health Check-ups segment recorded a growth of 76% at constant exchange rates. Smart Salem remained profitable throughout the semester, with an estimated EBITDA of AED 10.4 million, equivalent to €2.4 million.
Consolidated Revenue Falls to €8.6 Million
Klea Holding's consolidated revenue stood at €8.6 million in the first half of 2026, down from €11.5 million a year earlier. This represents a decline of 25% in reported data and 20% at constant exchange rates. According to the group, Smart Salem's activity was well oriented until the end of February. The outbreak of conflict in the Middle East led to exceptional events, including the closure of air traffic and the shift to home schooling. These disruptions were compounded by the seasonal economic slowdown related to school holidays and the Eid al-Fitr period. After a sharp drop in March, Smart Salem's monthly revenue progressed sequentially from April. In June 2026, it surpassed its June 2025 level.
Health Check-ups Progress by 76% at Constant Exchange Rates
Revenue from the Health Check-ups activity reached €1.4 million in the first half of 2026, up from €0.9 million a year earlier. It grew by 65% in reported data and 76% at constant exchange rates. This segment remained in growth throughout the semester. In June, it recorded its highest monthly revenue since its launch. Conversely, revenue from Medical Fitness was €6.9 million, down from €10.3 million in the first half of 2025, a decrease of 33% in reported data and 28% at constant exchange rates. Other revenues declined by 21% in reported data and 16% at constant exchange rates, to €0.2 million.
Smart Salem Remains Profitable and Klea Holding Expects Improvement in the Second Half
Klea Holding has implemented immediate cost control measures. Smart Salem thus remained profitable throughout the first half of 2026, with an estimated EBITDA of 10.4 million AED, equivalent to €2.4 million. For the second half, the group notes that its visibility remains limited due to the instability of the geopolitical context. However, it remains confident in the continued rebound of its activity and aims for a gradual catch-up of its revenue shortfall over the coming quarters. Klea Holding also confirms the continuation of the study of new development opportunities for Smart Salem in Dubai, the completion of the construction of the first digitalized medical center of Smart Health at KAFD in Riyadh, and the start of sales of Klea Pharmaceuticals. The group anticipates an improvement in its profitability in the second half, driven by these new growth engines and the lasting effect of the cost-saving measures undertaken.
