Odiot: Revenue Up 34% in First Half of 2026, Net Loss Raised to 810 k€
Odiot's consolidated half-yearly accounts, closed on October 12, 2026 by the board of directors and published on October 14, 2026, show a net loss attributable to the group of 810 k€ as of June 30, 2026, compared to 206 k€ a year earlier. According to the company, the gap is essentially due to the financial result: the first half of 2025 had included two non-recurring items related to IFA securities.
Adjusted for this gap, the net loss attributable to the group would amount to 303 k€, according to the press release. In the meantime, the silverware house founded in 1690 carried out several capital increases, which brought its equity attributable to the group back into positive territory.
Half-Yearly Revenue of 423 k€, Up 33.86%
In the first half of 2026, Odiot achieved consolidated revenue of 423 k€, compared to 316 k€ as of June 30, 2025, an increase of 33.86%. The company attributes this growth to the ramp-up of its commercial activity. The accounts were subject to a limited review by the statutory auditor.
Operating profit stands at -691 k€, compared to -631 k€ a year earlier, a variation that the group quantifies at -9.51%. Consolidated net profit comes to -869 k€, compared to -286 k€ as of June 30, 2025, and net profit attributable to the group is -810 k€, compared to -206 k€.
The gap between these two last aggregates is explained by the group's structure: the consolidation scope includes Odiot SA, the parent company, and Odiot SAS, a subsidiary under full consolidation held at 52%. Net cash reaches 117 k€ as of June 30, 2026, compared to -71 k€ a year earlier.
Net Loss Weighed Down by the Disappearance of Non-Recurring Financial Items
At the operational level, the company indicates that the operating result remains close to its level from the previous year. It mainly reflects lower inventory production (123 k€ compared to 260 k€), an increase in personnel costs (253 k€ compared to 193 k€) linked to the recruitment of three full-time equivalents, as well as communication expenses raised to 81 k€, compared to 9 k€ a year earlier. These items are largely offset by the decrease in consumed purchases, at 863 k€ compared to 985 k€.
The bulk of the gap is further down in the income statement. The financial result stands at -218 k€ as of June 30, 2026, compared to 289 k€ as of June 30, 2025. The first half of 2025 had indeed included a reversal of impairment on IFA securities of 2,401 k€ and the recognition of an IFA credit of 2,000 k€.
Neutralized for this financial result gap, the net profit attributable to the group would amount to -303 k€, compared to -206 k€ a year earlier, a variation limited to -97 k€ according to the company. Interest charges also decline to 88 k€ over the semester, compared to 112 k€ in the first half of 2025.
Strengthened Equity and Acquisition Under Exclusive Negotiation
Total consolidated equity stands at 1,093 k€ as of June 30, 2026. The group's share becomes positive again, at 40 k€ compared to -864 k€ as of December 31, 2025, under the effect of the capital increase of February 16, 2026, in the amount of 2,106 k€ including share premium. On March 9, 2026, the company also issued 52,650 share subscription warrants, each giving the right to subscribe for one new share at the price of 39.60 €.
Since the close, new transactions have been carried out: capital increases on July 13 and 17, 2026 for a combined amount of 1,145 k€, then a capital increase of 1,200 k€ on September 17, 2026, bringing the share capital to 333,949 shares. Odiot has also entered into exclusive negotiations to acquire the entire capital of the fine silverware house Lapparra Orfèvre Argentier.
For the rest of the fiscal year, the group recalls the seasonal nature of its activity: historically, the level of activity and results for the first half are lower than those of the second half, due to the distribution of sales and production cycles. The company continues to strengthen its equity, acquire new brands and transfer the listing of its shares from Euronext Access to Euronext Growth Paris.
The group also benefits from a letter of support from its reference shareholder regarding the financing of its current needs over the next twelve months. In light of the capital increases that took place after June 30, pro forma equity attributable to the group stands at 2,385 k€ as of September 30, 2026.
