Toosla: first net profit in its history, €8.6M thanks to debt forgiveness
Toosla published on October 28, 2026 the first net profit in its history: €8.6M in the first half of 2026, or €0.29 per share. According to the company, this result stems from financial gains linked to debt forgiveness negotiated as part of its debt reduction plan, as well as the reduction of its operating loss.
The car rental company nevertheless remains operationally unprofitable, with an operating loss of €1.4M, and its revenue declined to €3.9M. The shift to net profit is therefore explained by financial elements resulting from debt restructuring, which the new Chief Executive Officer, Pascal Ghoson, intends to complement with a commercial roadmap.
Operating loss reduced to €1.4M despite declining revenue
In the first half of 2026, Toosla's revenue stood at €3.9M, compared to €4.3M a year earlier. The company attributes this contraction, already announced in July, to the consequences of the deterioration in the economic environment.
During its publication on July 29, 2026, the group cited among its risks a decline of approximately 20% in booking demand on a like-for-like basis, rising fuel prices linked to the Middle East conflict, and a decline of approximately 10% in the average rental price linked to the Access mix.
At the same time, the operating loss was reduced to €1.4M, compared to €2.3M in the first half of 2025, a reduction of nearly 40% according to the company. Toosla highlights its "budgetary rigor" to explain this improvement, achieved on a narrower activity base.
Financial debt reduced to €5.2M at end of June 2026
The bulk of the semester's movement is on the balance sheet. As part of its 2026 roadmap, Toosla had committed to reducing its financial debt from €20.1M to €2.2M, with a repayment schedule extending until 2033.
At the end of June 2026, financial debt amounted to €5.2M, and the company estimates it has accomplished more than 80% of the journey. This amount includes €0.6M in convertible bonds which, according to Toosla, are not intended to be repaid in cash and are not part of the plan.
The group indicates that the schedule is compatible with its cash flow forecast. To measure the progress made, the 2025 financial year ended, according to accounts published on April 30, 2026, with a net loss of €6.57M for revenue of €9.02M.
Pascal Ghoson believes that the combined effort of creditors and shareholders makes it possible to restore to the company "a sustainable balance sheet structure".
A new roadmap expected in the coming weeks
Co-opted as director and then appointed Chairman of the Board and Chief Executive Officer on October 12, 2026, replacing Panayotis Staïcos, Pascal Ghoson initiated a strategic review upon taking office. The board set him the priority objective of returning "quickly and sustainably" the company to the path of profitable growth.
The executive believes it is necessary to "go further" and has proposed to the board to prepare a new roadmap, whose first structuring initiatives are to be unveiled in the coming weeks. It must restore commercial momentum to Toosla while making it less dependent on economic conditions, which he believes weigh heavily on short-term car rental.
This approach follows the launch, in late September 2026, of a monthly subscription rental offer with no commitment. The structuring fact of the publication remains quantified: financial debt of €5.2M at the end of June 2026, for a target of €2.2M at the end of the plan.
