France's Lacroix raises 2026 targets as H1 EBITDA margin rises
France's Lacroix raises 2026 targets as H1 EBITDA margin rises
Overview
France technology and industrial group's H1 2026 revenue rose 3.2% yr/yr
H1 EBITDA margin improved to 10.1% from 7.5% a year earlier
Company raised 2026 revenue and EBITDA margin targets after strong H1 performance
Outlook
Lacroix raises 2026 revenue target to over EUR455 mln from over EUR445 mln
Company now targets 2026 EBITDA margin above 9%, up from prior target above 7.6%
Lacroix expects 2026 net debt/EBITDA ratio below 2.0x, improved from below 2.5x
Result Drivers
ENVIRONMENT ACTIVITY - Double-digit growth in Environment activity, driven by a temporary peak in Water segment in Q1
ELECTRONICS BUSINESS MIX - Improved segment mix and operational performance contributed to higher Electronics profitability
WORKING CAPITAL & CAPEX - Improved working capital and controlled capital expenditure supported positive free cash flow
Company press release: ID:nGNE6Gf6GL
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| EUR 235.20 mln |
|
H1 Operating Profit |
| EUR 17.30 mln |
|
H1 EBITDA |
| EUR 23.70 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Lacroix Group SA is €24.00, about 42.4% above its September 29 closing price of €16.85
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 6 three months ago
Reuters Recommended Reads
Sept 30 - French preliminary inflation up at 3.4% in September
Sept 29 - France's LightOn H1 revenue jumps 51% on higher Paradigm license sales
Sept 28 - TotalEnergies raises share buyback targets as fuel prices drive profits
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(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.)