Calibre returns to profit in first half 2026, driven by €2.9M in capital gains from asset disposals
Calibre published on October 27, 2026 a net profit attributable to the Group of €2.7M in the first half of 2026, compared to a loss of €1.5M a year earlier. This turnaround includes €2.9M in non-recurring income related to asset disposals, and is accompanied by a decline in net financial debt to €2.7M at end of June.
The industrial group listed on Euronext Growth, now organized around two subsidiaries (Arkania in defense and Evike-europe.com in airsoft distribution), presents these accounts as the result of its refocusing decisions. Reading the figures shows two distinct movements: a reduced scope whose revenues remain stable, and an operating result whose largest portion stems from capital gains realized during the semester.
Operating result of €3.3M, of which €2.9M non-recurring
Consolidated revenue stands at €11.5M in the first half of 2026, compared to €12.9M in the first half of 2025. This decline reflects the scope exit: discontinued operations (Verney-Carron and airsoft distribution to professionals) had generated €1.2M in revenue a year earlier. On continuing operations, the group describes revenue as "relatively stable".
Operating result swings from a loss of €1.9M to a profit of €3.3M. It includes €2.9M in non-recurring income items, stemming from capital gains on the disposal of airsoft licenses and land adjoining the Arkania production site. According to the press release, the two operating subsidiaries also contribute positively to this result.
Below operating result, financial result declines from €0.6M to €0.1M and exceptional result stands at -€0.2M. Net result reaches €3.2M, compared to a loss of €1.4M, of which €2.7M attributable to the Group after minority interests.
Arkania in decline, Evike-europe.com in growth
The stability of the retained scope masks opposing trajectories between the two divisions. Arkania's activity declined due to order timing shifts which, according to the group, "should be recovered in the following semesters". This decline was offset by the ramp-up of Evike-europe.com.
This point extends an element already highlighted by the company: during annual results published on April 29, 2026, Calibre cited among its risks order timing shifts from a major customer of the Defense division. The 2025 fiscal year closed with revenue of €20M, an operating result of -€1.05M and a net result of €1.75M.
The refocusing is based on three decisions detailed in the press release. The deconsolidation of Verney-Carron removes a subsidiary that had weighed -€1.3M on operating result in the first half of 2025. The disposal of airsoft brand licenses intended for professionals to Evike, then that of land adjoining the Arkania site, generated the semester's capital gains. Executive Hugo Brugière mentions the elimination of "structural loss centers" and disposals that provided "additional resources".
Net financial debt reduced from €4.8M to €2.7M at end of June
The balance sheet records the effects of this profitable semester. Total equity changes from -€1.2M at December 31, 2025 to €1.7M at June 30, 2026, which resolves according to the company the equity reconstitution issue raised at the last general meeting. The Group's share of this equity stands at -€0.1M, compared to -€2.6M at end of 2025.
Borrowings and financial debt have been reduced by €1.1M, to €4.9M, mainly through bond repayment (€0.5M) and payment of the final installment of the PGE subscribed by Arkania (€0.4M). Cash position improves by €1.0M, to €2.2M. The group had already indicated, in April 2026, a reduction in its net financial debt of €3.0M over twelve months.
For the next twelve months, Calibre considers itself able to meet its identified cash requirements, relying on the profitability of its two subsidiaries, on the prospect of collecting a new €1.1M installment from the payment schedule concluded with Evike, and on the maturity of most of its financial debt set for 2029. At the last general meeting, shareholders voted against the renewal of variable-rate financing instruments. At end of June 2026, net financial debt stands at €2.7M, compared to €4.8M at end of 2025.
