Herige Industries: Net loss reduced to €2.4 million, but debt rises
Herige Industries released interim financial statements today marked by stable revenue and a reduction in net loss, in a construction market that the group describes as durably constrained.
Behind near-stable revenue, the publication highlights a decline in operating profitability and an increase in net debt over six months.
Stable revenue, EBITDA at €6.0 million
In the first half of 2026, Herige Industries achieved revenue of €200.8 million, up 1.0% (-0.9% adjusted for calendar effects) compared to the first half of 2025. The group presents this trend as illustrating the resilience of its business in a constrained sector. The end of the half was also marked by episodes of severe weather that led to schedule adjustments and targeted project delays.
Gross margin stood at €101.3 million, down €0.7 million year-on-year, bringing the gross margin rate to 50.4% of revenue, declining by 0.8 percentage points. EBITDA reached €6.0 million, down €2.0 million compared to the first half of 2025, with EBITDA margin at 3.0%, a decrease of 1.0 percentage point year-on-year.
Net loss brought down to €2.4 million, negative operating result
The operating result before depreciation and impairment of goodwill stood at €-0.8 million, compared to €0.7 million on June 30, 2025. The group attributes this change to the decline in operating performance in a context of constrained volumes and continuing inflation of costs, particularly for raw materials and energy.
After a financial result of €-0.5 million (compared to breakeven one year earlier) and an exceptional result of €-0.2 million, primarily linked to restructuring costs of the adaptation project, consolidated net result stood at €-2.4 million, compared to €-3.9 million in the first half of 2025.
On the financial structure side, net debt reached €39.0 million on June 30, 2026, compared to €29.4 million on December 31, 2025 and €26.1 million on June 30, 2025. Shareholders' equity stood at €140.6 million, bringing the net debt ratio to 27.7%, compared to 20.5% at end of 2025 and 17.7% on June 30, 2025. Organic investments for the half represented €4.3 million.
Acquisition of four concrete plants and appointments to the Executive Board
The group recalled the acquisition, finalized on September 1, 2026, of four concrete plants located in Nantes, Malville, Saint-Herblain and Montoir-de-Bretagne. This transaction, part of the development strategy for the Concrete division, is designed to strengthen territorial coverage in Loire-Atlantique and the deployment of low carbon footprint solutions.
On the governance front, the Supervisory Board, meeting on September 18, 2026, decided to appoint Olivier Collin, Chief Executive Officer of Edycem (Concrete division), and François Bourgoin, Chief Executive Officer of Atlantem (Joinery division), to the group's Executive Board.
Regarding outlook, Herige Industries indicated that uncertainties related to the 2027 finance law and changes to support mechanisms for energy renovation, particularly the reduction in funding allocated to MaPrimeRénov', continue to weigh on sector visibility. The group maintains rigorous management and is accelerating the rollout of new offerings. The next publication, covering third quarter 2026 revenue, is scheduled for November 3, 2026, after market close.
