SergeFerrari Group Holds Revenue Steady Amid Geopolitical Pressures
Event summary
- Revenue remained flat at €177.9M (-0.5% YoY) for H1 2026, with Europe (+4.8%) offsetting declines in Americas (-27.2%) and Asia/Africa/Middle East (-2.4%).
- EBITDA held steady at €19.4M (-3.8% YoY) despite rising raw material costs and geopolitical tensions.
- Net debt decreased to €72.6M (vs. €79.7M in H1 2025) due to improved working capital management.
- Group closed Tersuisse manufacturing site, incurring €1.5M in non-recurring restructuring costs.
The big picture
SergeFerrari Group's stable H1 2026 results reflect resilience in a volatile environment, with Europe's growth counterbalancing challenges in other regions. The closure of the Tersuisse site signals continued focus on cost efficiency, though geopolitical risks and raw material inflation remain key headwinds. The group's ability to manage working capital and reduce net debt highlights operational discipline amid broader industry pressures on composite material suppliers.
What we're watching
- Geopolitical Exposure
- How delivery disruptions in Middle East and currency effects in Americas will impact H2 2026 performance.
- Cost Optimization
- Whether restructuring efforts and industrial base optimization can sustain profitability amid raw material inflation.
- Regional Strategy
- The pace at which Europe's growth (4.8%) can compensate for declines in other regions.
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