Acteos: EBITDA increased to 488k€ in first half 2026 with stable sales, thanks to software
With stable revenue of 4,156k€, Acteos increased its EBITDA from 34k€ to 488k€ in the first half of 2026, thanks to a more favorable business mix weighted towards software. The net loss attributable to the group decreased from 620k€ to 100k€, representing a clear improvement.
At the same time, cash position declined. The group obtained in-principle agreement from its banks to extend the repayment of the remaining balance of its state-guaranteed loans (PGE) over 24 months instead of 18.
EBITDA increased to 488k€ for stable revenue
The board of directors met on October 28, 2026 to examine the consolidated accounts for the first half, which are currently undergoing limited review by the statutory auditors. Revenue amounts to 4,156k€, compared with 4,139k€ a year earlier.
Gross margin improved by 11.4%, reaching 2,980k€. It represents 71.7% of revenue, compared with 64.6% in the first half of 2025. EBITDA reached 488k€, or 11.7% of revenue, compared with less than 1% a year earlier.
Operating income stands at 10k€, compared with a loss of 480k€ in the first half of 2025. After a negative financial result of 101k€, net income attributable to the group stands at -100k€, compared with a loss of 620k€ a year earlier.
Software, representing more than 75% of sales, drove gross margin to 71.7%
The stability in sales masks two opposing trends. Software activities dedicated to supply chain optimization, the group's core business, generated 3.1m€ in revenue, up 16.6%. Mobility activities recorded a decline that the company describes as anticipated.
Software now represents just over 75% of activity, compared with 65% at end of June 2025. According to the company, the increase in gross margin rate is directly linked to this change in business mix: normative gross margin exceeds 90% on software, compared with 20% on average for Mobility.
Management of expenses also contributed to EBITDA improvement. Personnel costs represent 41.5% of revenue, compared with 48.0% a year earlier. The billing model is also evolving: SaaS revenues reach 25% of recurring software revenue, compared with 20% in 2025 and 15% in 2024 for the same period.
In its publication of July 27, 2026, the group cited among its risks the structural decline in PDA terminal equipment at relay points, in favor of automated lockers. This factor is consistent with the Mobility decline observed during the semester.
Cash position of 881k€ and PGE repayment schedule extended by six months
As of June 30, 2026, cash stands at 881k€, compared with 1.6m€ at end of December 2025. To secure business continuity, the group obtained in-principle agreement from its banking partners on a six-month extension of the PGE balance repayment schedule.
The schedule would thus move from 18 to 24 months, from July 2026 to June 2028. This agreement is currently being formalized, and the half-yearly financial report will be published in the coming November, once the agreement is finalized.
For reference, for fiscal year 2025, whose results were published on March 15, 2026, the group had recorded revenue of 8.44m€, an operating loss of 0.35m€ and a net loss of 0.63m€. Annual revenue for 2026 will be published on January 25, 2027 and annual results on March 18, 2027.
For fiscal year 2026, Acteos stated it is confident in its ability to continue growth and profit progression, relying on the increasing share of its recurring revenues. The stated objective is to confirm over the full year the return to positive operating income, achieved at 10k€ for the half-year.
