Dekuple: Group net income up 58.9% in the first half of 2026
Dekuple Group published its first-half 2026 accounts on September 28, 2026, marked by measured activity growth and improved profitability.
Behind revenue growth of 3.9%, the publication highlights a shift in the group's economic weight toward Digital Marketing and international activities, while legacy business lines (Magazines and Insurance) remain under selective management.
Group net income up 58.9% to €6.1 million
Consolidated revenue stands at €121.9 million, up 3.9% compared to €117.4 million in the first half of 2025. Net revenue reached €90.3 million, up 2.2% (€88.3 million a year earlier).
Adjusted EBITDA stands at €11.9 million, up 11.7%, and represents 13.2% of net revenue compared to 12.0% in the first half of 2025, an improvement of 111 basis points. Operating income increased by 25.3% to €8.1 million, or 8.9% of net revenue compared to 7.3% a year earlier.
Consolidated net income amounts to €5.8 million, compared to €3.7 million in the first half of 2025, bringing net margin to 6.4% of net revenue (4.2% previously). After minority interests, group net income stands at €6.1 million, up 58.9%.
Digital Marketing reaches 72.7% of revenue, international activities 15.3% of net revenue
Digital Marketing activities represent 72.7% of consolidated revenue, compared to 69.6% a year earlier. Their net revenue increased by 8.4%, of which 6.0% at constant scope, driven by Consulting & Technology and Agencies & Solutions activities.
International activities saw their net revenue increase by 37.1% and now account for 15.3% of the Group's net revenue, compared to 11.4% a year earlier. The group continued its external growth with the creation of Das Kapital DEKUPLE Group in the Middle East and the acquisition of Subko & Co in Poland, whose accounts will be consolidated from July 1, 2026.
Conversely, Magazines activities recorded a net revenue decline of 7.0% in a declining press market, and a strategic review remains ongoing for the Insurance business as part of the Ambition 2030 plan.
Net cash position of -€12.7 million in financial debt after investments
At June 30, 2026, the Group's equity amounts to €55.6 million, up €0.9 million compared to December 31, 2025 (€54.7 million). Cash reaches €45.3 million, compared to €55.0 million at end-2025 and €45.8 million at June 30, 2025.
Financial debt stands at €58.0 million, down €3.2 million compared to end-2025 (€61.2 million). It includes €20.1 million in commitments to repurchase minority interests and €36.4 million in bank borrowings, of which €26.2 million drawn under the syndicated credit facility established in November 2025.
Net cash position in financial debt thus stands at -€12.7 million, compared to -€6.3 million at end-2025 and -€7.8 million at June 30, 2025, which the group attributes to the intensity of investments and external growth operations over the past twelve months. The next activity update, covering third-quarter 2026 revenue and net revenue, is scheduled for November 23, 2026.
