Freelance.com: Half-year profit of €8.3 million, down 47% in reported figures
The half-year financial statements published by Freelance.com on October 19, 2026 read differently depending on the comparison basis selected. Net profit attributable to the group stands at €8.3 million. It is down 47% compared to €15.6 million published a year earlier, but up 38% against €6.0 million obtained after adjustment for the €9.5 million gain related to the disposal of Provigis.
On an operational level, EBITDA reaches €15.3 million (+5% on a pro forma basis) and the EBITDA margin rate remains stable at 2.8%. In the same period, working capital requirements increased by €15.4 million, which resulted in operating cash flow turning negative over the period.
Revenue of €551.8 million, up in both France and internationally
During the first six months of 2026, Freelance.com achieved consolidated revenue of €551.8 million, compared to €530.1 million a year earlier, representing an increase of 4%. On a comparable basis, against €527.9 million in pro forma figures, growth reached 5%. As a reminder, the group had achieved pro forma revenue of €1,050.3 million for the full year 2025.
France remains the primary market, with €401.6 million in revenue, representing 73% of consolidated total. Activity there grew by 3% (+4% on an organic basis). According to the company, payroll portage and intermediation maintained the growth momentum recovered since the beginning of the year, which reflects an increase in the use of external talent by its clients.
Internationally, revenue amounts to €150.2 million, up 6%, in both reported and organic terms. The group notes that this development continues despite intensified competition in the Swiss market.
Operating profit up 6%, adjusted net profit up 38%
EBITDA stands at €15.3 million, compared to €14.6 million on a pro forma basis in the first half of 2025, representing an increase of 5%. The EBITDA to revenue ratio remains at 2.8% for both periods. Management attributes this growth to business momentum, in a context where commercial and technological investments continue.
Operating profit reaches €11.7 million, compared to €11.1 million a year earlier on a pro forma basis (+6%). Non-recurring charges increase from €0.8 million to €1.2 million, mainly due to restructuring costs. This increase is offset by the decline in depreciation and amortization, reduced to €2.4 million from €2.7 million on a pro forma basis.
Further down the income statement, financial result stands at -€1.8 million, compared to -€2.9 million on a pro forma basis. In reported figures, it was +€6.6 million in the first half of 2025, thanks to the gain from the disposal of Provigis. The tax charge declines to €1.6 million, from €2.2 million, resulting in net profit attributable to the group of €8.3 million.
Cash position falls from €96.3 million to €73.2 million over the half-year
The increase in results did not translate into cash during the period. Gross self-financing margin rises to €11.1 million, compared to €8.9 million a year earlier, but the change in working capital requirement reaches -€15.4 million, compared to -€4.6 million. Operating cash flow thus stands at -€4.3 million, compared to +€4.3 million in the first half of 2025. Client receivables increased from €175.6 million at end-2025 to €204.2 million on June 30, 2026.
The company describes this increase in working capital requirement as temporary. It attributes it to the completion of the integration of acquired companies and ongoing IT migrations.
Financing flows also had an impact, totaling €16.9 million, of which €14.1 million in dividends paid (compared to €4.7 million a year earlier) and €2.8 million in debt repayments. When publishing its annual results on April 20, 2026, the group had announced a dividend of €0.25 for fiscal year 2025. Closing cash stands at €73.2 million, compared to €96.3 million at the opening.
The group will provide an update on its activity with third-quarter revenue on November 23, 2026, followed by annual revenue on February 22, 2027. On June 30, 2026, Freelance.com reports €179.7 million in equity, compared to €185.4 million at end-2025, and net debt of €37.5 million.
