Hopscotch: net loss of €3.7 million in the first half of 2026 with virtually stable revenue
Hopscotch Groupe published on September 30, 2026 half-year results marked by virtually stable revenue but a shift in operating income and net income into negative territory.
The shift is explained both by the decline in activity, which weighs on gross margin, and by unfavorable accounting items compared to the first half of 2025, which had benefited from other net operating income not repeated in 2026.
Stable revenue but gross margin declining by 6.3%
In the first half of 2026, Hopscotch Groupe achieved revenue of €116.7 million, comparable to €118.5 million in the first half of 2025. Gross margin stood at €43.0 million, down 6.3% compared to €45.9 million in the comparable period.
According to the group, this change stems from an unfavorable international environment: cessation of activities in Gulf countries, international trade with the United States and China, as well as a base effect related to strong activity in Japan last year during the Osaka World Expo. In France, the group indicates stability in its core business.
Operating income and net income turn to loss
Consolidated recurring operating income came in at a loss of €2.787 million, versus €735 thousand in the first half of 2025, a decline of €3.522 million. The group attributes half of this decline to the decrease in activity, partially offset by savings in direct costs, and the other half to unfavorable accounting charges (provisions, decline in other operating income).
EBITDA after neutralizing the IFRS 16 impact stood at a loss of €1.984 million, compared to a profit of €1.465 million a year earlier. The first half of 2025 also included €960 thousand of other net operating income related to old prescribed items, not repeated in 2026. After financial income of –€882 thousand and tax of –€25 thousand, net income for the half-year came in at a loss of €3.694 million, compared to a profit of €223 thousand in the first half of 2025.
Positive financial structure and long-term objectives reaffirmed
As of June 30, 2026, shareholders' equity totaled €28.2 million, after recording a dividend of €1.8 million for 2025. Net financial position is positive at €9.3 million, with closing cash of €31.5 million. Financial debt (excluding IFRS 16 lease liabilities) stands at €22.2 million, of which €9.2 million is due within one year.
The group indicates that the second half will be supported by the Motor Show in early October and recalls that 2025 had presented seasonality concentrated on the second half of the year, with nearly 55% of volume realized during this period. Hopscotch Groupe reaffirms its long-term objectives for growth and profitability. The next publication, 2026 full-year revenue, is scheduled for February 4, 2027, followed by annual results on March 31, 2027.
