Jacquet Metals: Group net income of €22.5M in H1, compared to €6.4M
Jacquet Metals published half-year financial statements on September 9, 2026, marked by revenue growth of 1.4% over the semester (+4.8% in the second quarter alone) and an improvement in operating profitability. The half-year result includes a gain on asset disposal of €3.2 million, mainly related to the sale of a site in Germany, and an average tax rate of 28.6%, compared to 57.9% in the first half of 2025.
Revenue at €1,001M, current EBITDA up to €60M
Consolidated revenue stands at €1,001 million in the first half of 2026, up 1.4% year-on-year. This change combines a volume effect of +1.5%, a price effect of -0.3% and a scope effect of +0.2%, with the latter incorporating the acquisition of Sabater Fundimol in May 2026. Gross margin amounts to €251 million, or 25.1% of revenue, compared to €232 million (23.6%) in the first half of 2025. Current EBITDA reaches €60 million, representing 6.0% of revenue, compared to €48 million (4.9%) a year earlier. Current operating income stands at €40 million (4.0% of revenue) compared to €29 million (2.9%). Financial result represents a charge of €9.5 million, compared to €11.7 million in the first half of 2025.
Stainless steel divisions in growth, IMS Group penalized by Germany
The Jacquet division, specialized in stainless steel quarto sheets, records revenue of €255 million (+9.5%), with distributed volumes up 10.1%. Its current EBITDA rises from €12 to €22 million, or 8.5% of revenue compared to 5.0% a year earlier. According to the Group, the increase in volumes benefited in particular from the dynamism of the division in North America. The Stappert division (long stainless steel products) reports revenue of €277 million (+1.6%) with volumes up 4.7%, for current EBITDA of €14 million (5.1% of revenue), stable compared to the first half of 2025. The IMS Group division (mechanics metals) declines to €476 million (-2.6%), with volumes down 4.4%, penalized by the German market. Its current EBITDA nevertheless increases from €8.9 to €11.1 million (2.3% of revenue compared to 1.8%), and structural adjustment measures generated approximately €3.4 million in savings over the semester.
Stable gearing at 21%, continuation of investment policy
The Group generated operating cash flow of €54 million in the first half of 2026. Net debt stands at €143 million for equity of €677 million, representing a net debt ratio (gearing) of 21%, stable compared to end-2025. Investments amounted to €30 million, mainly related to two real estate acquisitions in Spain (Saragossa and Valencia) and the construction of a distribution center in Chengdu (China). The Group also finalized the acquisition of American company Energy Steel Products, which achieved revenue of €25 million and brings North America's share to approximately 38% of the Jacquet division's activity. For the coming quarters, the Group indicates that economic conditions should resemble those observed since the beginning of the year and that it will endeavor, in a context of reduced visibility, to rigorously manage its financial balances while continuing its investment and development policy. Group net income per share issued stands at €1.07 in the first half of 2026, compared to €0.30 a year earlier.
