Sogeclair: Revenue Down 3.1% in First Half 2026, But Return to Net Profit
Sogeclair has published its results for the first half of 2026. Revenue declined by 3.1% to €78.1 million, but the group returned to positive net profit of €0.3 million, compared to a loss in the first half of 2025. This return to profit is accompanied by a decrease in net financial debt servicing costs, as the group prepares the disposal of its Engineering activities dedicated to Airbus, which represent 20% of revenue.
Revenue of €78.1 Million and EBITDA Rising to €6.2 Million
Semester revenue stands at €78.1 million, down 3.1% compared to €80.6 million in the first half of 2025 (decline limited to 0.5% at constant exchange rates). EBITDA increased from €5.1 million to €6.2 million, representing 7.9% of revenue. According to the group, semester results do not include capitalized R&D or research tax credits, which are recorded in the second half. Net profit amounted to €0.3 million (0.4% of revenue), compared to a loss of €0.8 million in the first half of 2025, representing a variation of €1.1 million. Operating profit stood at €1.2 million, against €1.5 million a year earlier. Net cash flow generated by operations reached €7.5 million, compared to €4.3 million in the first half of 2025, due to improved EBITDA and working capital management.
Europe-Africa Declining, Americas Rising, Net Debt at €2.8 Million
The breakdown of revenue by activity shows a stable share for Solutions (48%), while Airbus Engineering declined from 21% to 19% of the total. By subsidiary location, Europe-Africa saw its revenue decline to €57.0 million (compared to €59.3 million) and its EBITDA fall from €2.4 million to -€0.2 million, with the group citing essentially the decline in Business Aviation Engineering in Europe as well as an unfavorable exchange rate effect on thermoplastic operations. Conversely, the Americas region progressed to €19.1 million (compared to €18.8 million) with EBITDA reaching €3.6 million, compared to €1.1 million a year earlier. The group also reported growth in Equipment activities of 10.5% at constant exchange rates. On the financial front, total net debt fell to €2.8 million, compared to €12.6 million in the first half of 2025. Gearing stands at 4.38%, an improvement of 17 basis points year-over-year.
Disposal of Airbus-Dedicated Engineering Expected in Fourth Quarter
For the second half, Sogeclair anticipates contrasting prospects depending on activities. The decline in Business Aviation activity in Europe is expected to continue pending the launch of new programs, while North America maintains favorable momentum. Within the Solutions Business Unit, Simulation activities should benefit from a strengthened order book in the second half. The group indicates that the update of its Ambition 2030 strategic plan will be presented in October. In accordance with its communication of August 5, 2026, Sogeclair expects to complete the disposal of its Engineering activities dedicated to Airbus in the fourth quarter, representing 20% of revenue. This transaction will result in an evolution of the group's reference scope.
