Neurones raises its 2026 operating margin target to over 9% after a third quarter at 10.8%
The third quarter of 2026 led Neurones to raise its profitability ambition for the financial year.
In its press release published on 4 November 2026, the IT services group reported organic growth of 7.1% over the period and an operating margin of 10.8% of revenue, compared with 8.7% in the first half.
This quarter brings the nine-month rate to 9.4%. Management has therefore raised its annual operating margin target to more than 9% of revenue and confirmed its forecast for annual sales above €900 million.
The operating margin gains 2.1 points over the quarter
The raised target is based on the improvement in profitability over the course of the year. The operating margin rose by 2.1 points between the first half and the third quarter, an evolution the group describes as a “clear increase”.
The cumulative figure reflects this trend: at 9.4% over nine months, the margin exceeds that of the first half, which explains the raising of the annual target. These rates are not audited and are stated after 0.5% of charges related to free share grants.
To put the target in context, the group had published on 11 March 2026, for financial year 2025, an operating profit of €75.58 million for revenue of €857.18 million, i.e. a margin of approximately 8.8%. A margin above 9% in 2026 would therefore correspond to an increase in profitability from one financial year to the next.
Organic growth above 10% in five business areas
This activity takes place in a French market that Neurones describes as “showing slight growth”. The group states that it maintained its momentum in the third quarter, “in line with the start of the year and accelerating compared with the previous year”.
At its half-year results publication on 9 September 2026, Neurones had announced a 7.2% increase in revenue, of which 6.9% at constant scope. With organic growth of 7.1%, the third quarter is thus slightly above the first-half pace.
According to the group, organic growth exceeds 10% in five areas: data and AI, digital projects, IT service management, Business Process Management and training. Staff turnover, a determining factor for an IT services company, also remains at a low level.
Sales target confirmed and share capital reduced by 2%
On the sales side, Neurones confirmed its forecast of annual revenue above €900 million, raised to this level at the publication of 5 August 2026, after an initial target of approximately €900 million set on 6 May 2026. Revenue for financial year 2025 had amounted to €857.18 million.
On 8 October 2026, the group also cancelled its 486,261 treasury shares, which represented 2% of the share capital. The number of shares making up the share capital is reduced accordingly.
Overall, the sales target is maintained while the profitability target is raised: it is the improvement in the operating margin in the third quarter, rather than the acceleration of activity, that changes the group's annual outlook.
