Upergy: Billings Down 10.9% in Third Quarter, at €9.4M
Battery and battery cell distributor Upergy published third-quarter billings of €9.4M on October 7, 2026, down 10.9% year-on-year. This decline is part of the reorganization strategy initiated in 2025, which prioritizes the most profitable activities over volume. The group expects profitability to continue improving in the second half, following a return to operating profitability in the first half.
The publication clarifies the nature of the decline. Part of the drop stems from deliberate management decisions: exit from activities deemed less profitable and conversion into franchises of the 1001 Piles Batteries stores held directly. Another part is attributed, according to the group, to an economic environment that remains "unfavorable" in France and the United Kingdom, its two main markets. Over nine months, the decline reaches 9.8% at current exchange rates, but 7.2% at constant scope and exchange rates.
Nine Months of Billings at €30.2M, Down 9.8%
Over the first nine months of the fiscal year, Upergy's billings stand at €30.2M, compared with €33.5M a year earlier. The gap between the decline at current exchange rates (9.8%) and the decline at constant scope and exchange rates (7.2%) shows that exchange rate and scope effects weigh on the gross reading of the figures.
The quarterly pace remains comparable from one period to the next. Billings declined by 9.9% in the first quarter (€11.0M), by 8.8% in the second (€9.8M), and by 10.9% in the third (€9.4M). These are unaudited figures.
These figures extend the trend from the first half, at the end of which the group reported, on September 29, 2026, revenue down 8.9% and a return to positive net income, after a loss a year earlier.
France Slows Its Decline, United Kingdom Falls 17.2%
France, the group's leading market, generated €5.6M in billings in the third quarter, down 7.1%. The decline is less pronounced than in the second quarter (−12.1%) and the first (−8.5%).
The United Kingdom presents an inverse trajectory. Stable in the second quarter (+0.1%, at €3.9M), it declined by 17.2% in the third, to €3.2M. The country had already recorded a decline of 14.2% in the first quarter.
Spain, smaller in scale, posted €0.5M in billings in the third quarter, down 10.1%, after −23.9% in the second quarter and +2.4% in the first. The rest of Europe remains marginal, at €0.1M per quarter.
Upergy Expects Improved Profitability in the Second Half
The group attributes the decline in its billings to three factors: the refocus on the most profitable activities, the progressive conversion into franchises of the 1001 Piles Batteries stores held directly, and "certain one-off effects" related to the implementation of the reorganization. The conversion to franchise status mechanically reduces the direct billings generated by this network.
Upergy indicates that the conversion into franchise of the remaining stores held directly is continuing, and that organizational and operational optimization measures "continue to produce their effects." The stated objective is to adapt the cost structure and durably improve operating performance.
Following the return to operating profitability recorded in the first half of 2026, the group expects profitability to continue improving in the second half, supported by the ramp-up of reorganization actions. Over the first nine months, billings totaled €30.2M, down 7.2% at constant scope and exchange rates.
