France's HighCo H1 gross profit rises on retail activation strength, trims 2026 outlook
France's HighCo H1 gross profit rises on retail activation strength, trims 2026 outlook
Overview
France marketing and communication expert's H1 gross profit grew 26.7% yr/yr
Adjusted EPS for H1 rose 30.7% yr/yr, adjusted net income up 29.5%
Company revised 2026 gross profit guidance downward, resumed share buyback, continued Sogec restructuring
Outlook
HighCo revises 2026 gross profit guidance to more than €77 mln, down from over €78 mln
Company now expects 2026 reported gross profit growth of more than 15%, down from over 17%
HighCo raises 2026 adjusted operating margin outlook to close to 13%, from more than 12%
Company expects adjusted operating margin above 15% as of 2027
Result Drivers
FRENCH MARKET MOMENTUM - Co said H1 growth was driven by strong business activity in France, notably in Retail Activation
ACQUISITION IMPACT - Integration of Sogec and Budgetbox contributed to reported gross profit growth
RESTRUCTURING COSTS - Sogec restructuring led to €5.54 mln in expenses, impacting reported operating income
Company press release: ID:nGNEbXtTW4
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Adjusted EPS |
| EUR 0.26 |
|
H1 Adjusted Net Income |
| EUR 5 mln |
|
H1 Net Loss |
| EUR 940,000 |
|
H1 Operating Cash Flow |
| EUR 6.49 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advertising & marketing peer group is "buy"
Wall Street's median 12-month price target for High Co SA is €4.50, about 26.4% above its September 8 closing price of €3.56
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 16 three months ago
Reuters Recommended Reads
Sept 9 - French digital service firm Neurones H1 profit up 16.4%
Sept 9 - France's Antin H1 revenue slips on lower fees, carried interest
Sept 9 - France's Linedata H1 revenue falls on higher external expenses
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)