DBT: R3 recharging accounts for 41% of half-yearly revenue, debt reaches €34.9m
DBT's half-yearly revenue remained nearly stable, but its composition shifted: the R3 recharging operator activity now represents 41% of group revenue, compared to 19% a year earlier. This shift was accompanied by a reduction in operating loss, while network financing brought financial debt to €34.9m.
R3 reaches €1.5m in revenue, DBT CEV declines 47%
R3 doubled its revenue to €1.5m. This growth was driven by the opening of 15 new sites during the semester and by an increase of approximately two-thirds in the number of charges, reaching nearly 100,000. The network thus becomes the group's leading revenue contributor, a development already highlighted by DBT during the consolidation of its recharging offering under the R3 brand, announced on October 7, 2026. Conversely, DBT CEV, the charger manufacturing subsidiary, achieved €1.4m in revenue, down 47%. The group attributes this decline to the refocusing undertaken in favor of rapid chargers with higher added value, in a market environment it describes as more sensitive to prices. DBT Engineering recorded revenue of €0.8m, up 85%, thanks to the invoicing of major export projects.
EBITDA improves 12%, financial charges increase
Gross operating surplus stands at -€1.5m, an improvement of 12% compared to the first half of 2025. According to the company, this reduction in gross operating deficit stems from two factors: a 5-point improvement in gross margin, linked to the product mix evolution at DBT CEV, and a €0.1m reduction in personnel costs resulting from reorganization measures. After €1.5m in net depreciation and provisions, operating result stands at -€3.0m, showing slight improvement year-on-year. Financial result, however, moves from -€0.4m to -€0.7m, due to increased interest charges related to R3 deployment financing. An exceptional loss of €0.4m, incorporating a provision for exceptional stock write-down, and a tax income of €0.3m lead to a net loss attributable to the group of -€2.6m, improving by €0.1m. On the balance sheet, financial debt reaches €34.9m as of June 30, 2026, up €10m compared to December 31, 2025. It is primarily composed of very long-term current accounts from Amundi Transition Energétique and Banque des Territoires, which co-finance R3 chargers. Liquidity and marketable securities total €12.2m, of which more than €8m is held in R3 Infra Invest and allocated to site construction. Shareholders' equity attributable to the group stands at €6.5m, compared to €6.9m at end-2025, with the effect of the half-yearly loss partially offset by the conversion into capital of €2.4m of Océane, under the financing contract signed in June 2025 with GT09.
Approximately 80 openings targeted for 2026, versus over 50 initially
DBT now expects to reach 200 open R3 sites by the end of 2026, representing approximately 80 openings during the year, versus over 50 announced initially. The group confirms its objective of over €3m in revenue for R3 in 2026, compared to €1.5m achieved in the first half. The group plans to invest the entire €50m envelope secured in October 2022 by the end of the first quarter 2027. This will have enabled the construction of 215 ultra-rapid recharging sites, versus 250 originally envisioned, with R3 favoring larger-capacity stations at higher unit cost. DBT indicates that the network's revenue prospects remain unchanged. The group also intends to develop the R3 Pro offering, designed for businesses, transporters and fleet managers. "2026 marks a turning point for DBT," said Alexandre Borgoltz, Chief Executive Officer, who presents the electrification of professional fleets as the segment on which the group will accelerate. In total, the objective of openings raised to 200 sites by end-2026 constitutes the central element of the announcement, backed by a €50m envelope whose complete investment is expected by the end of the first quarter 2027.
