Mexedia reduces net debt to €4.3M following Telvantis exit in first half 2026
The deconsolidation of Telvantis Inc. significantly alters Mexedia S.p.A. Società Benefit's financial profile.
In the first half of 2026, the Italian group listed on Euronext Growth Paris reduced its net financial debt to €4.3M, while recording a net loss of €22.3M, the majority of which stems from an accounting effect with no cash impact.
Net debt reduced from €34.7M to €4.3M
The board of directors approved the unaudited consolidated accounts for the first half of 2026 on 29 September 2026. The central element of the period concerns the group's financial structure.
Net financial debt stood at €4.3M as of 30 June 2026, compared to €34.7M as of 31 December 2025, a reduction of €30.5M. According to the company, this variation is almost entirely attributable to the deconsolidation of debt positions related to Telvantis Inc.
Consolidated equity reaches €12.3M, representing 54.3% of total assets, compared to 19.8% as of 31 December 2025. At the close of the semester, current assets also exceed current liabilities.
Revenue of €14.2M on a reduced perimeter
Telvantis Inc., which carried the wholesale voice traffic termination business sold effective 31 December 2025, exited the consolidation perimeter as of 8 April 2026. As of 30 June 2026, this perimeter comprises only Mexedia S.p.A. Società Benefit.
Consolidated revenue amounted to €14.2M, compared to €104.4M in the first half of 2025, the latter figure relating to a different perimeter and therefore not directly comparable. Gross margin stands at €0.46M, or 3.2% of revenue.
EBITDA is negative at €0.40M. The operating result reflects, according to the company, the lower absorption of structural costs following the reduction in consolidated volumes, in a realignment phase still underway.
Net loss of €22.3M driven 96% by an accounting effect
The consolidated net result for the first half of 2026 is negative at €22.3M, compared to a loss of €2.3M for the corresponding period of the previous year. This result includes €21.4M related to the effect of Telvantis Inc.'s deconsolidation, recognized in accordance with IFRS 10 standard.
This component, which represents approximately 96% of the semester's net loss, is accounting in nature and has no cash impact, its effect being entirely concentrated on the first half of 2026.
In the second half, Mexedia will focus on the integration of Stantup Service S.r.l., in which it has held 51% of the capital since 10 August 2026 and which will contribute to consolidated accounts for the first time, as well as on the realignment of its cost structure. After the close of the semester, operations carried out by the company resulted in an overall strengthening of equity of €17.2M.
