Miko: Revenue up 6% in first half of 2026, net income of €5.1 million
The pass-through of price increases decided in 2025 to mitigate the impact of rising green coffee prices is beginning to translate into Miko's accounts.
The Belgian roaster, specializing in coffee-related services for out-of-home consumption, published on September 22, 2026 interim results marked by an increase in all its profitability metrics, driven in particular by the turnaround of its Dutch subsidiary Maas.
Revenue at €164.3 million, EBIT and net income on the rise
In the first half of 2026, Miko generated revenue of €164.3 million, up 6% compared to €155.4 million in the same period of 2025. The sale of goods reached €156.7 million (compared to €148.8 million) and rental income €7.7 million (compared to €6.3 million).
EBIT stood at €8.8 million, up by €2.6 million, or 42%, while EBITDA increased by €4.0 million, or 20%, to reach €24.0 million. The group's net income came to €5.1 million, compared to €3.4 million a year earlier, representing an increase of 62%. The portion attributable to Miko shareholders stands at €5.1 million, bringing basic earnings per share to €4.08, compared to €2.51 in the first half of 2025.
Margin recovery and Maas turnaround
According to the group, the margin recovery is explained by the pass-through to results of the price increases decided the previous year to mitigate the impact of rising green coffee prices.
The performance of the Dutch subsidiary Maas, presented as Miko's largest subsidiary, also contributes to the improvement in profitability. The group indicates that Maas's results have progressed in recent years thanks to group support and the efforts of the Dutch management.
The result before tax reaches €6.5 million (compared to €4.0 million), after a net financial result of -€2.2 million, stable compared to a year earlier. The tax charge came to €1.4 million, compared to €0.6 million in the first half of 2025.
New roasting facility and acquisitions in the United Kingdom and Norway
Karl Hermans, Miko's CEO, cites among the next steps the relocation to a new roasting facility and meeting customer expectations in the coffee-related services market.
The group reports the acquisitions of Roast and Ground in the United Kingdom and Kronen in Norway, presented as strengthening its presence in its home countries. Management mentions a context of persistently high coffee prices and rising gas prices.
On the balance sheet, equity stands at €133.6 million as of June 30, 2026, compared to €130.6 million at the end of 2025. Interest-bearing borrowings of more than one year increased to €91.7 million, compared to €71.7 million at the end of 2025, and cash investments stand at €17.9 million, compared to €23.7 million.
