Results for the first half of the 2025/2026 financial year
Damartex strengthens its fundamentals and confirms the improvement in its profitability
ACTIVITY & PERFORMANCE BY DIVISION
Damartex closed the first half of the 2025/2026 financial year with revenue of €279.3 Mn, slightly down compared to the previous year (-1.9% at actual exchange rates and -1.0% at like for like exchange rates).
The “Fashion“ division’s sales amounted to €216.8 Mn for the half-year, almost stable at -0.8% at actual exchange rates (stable at like for like exchange rates).
Despite social movements in France and Belgium, and a decline in consumption on the English market over the last half of the year, the Damart brand closes 2025 on a positive note, driven by the benefits of the brand’s repositioning for several quarters. As for Xandres, the first half of the year was marked by growth in both the local market (+2.8% in Belgium) and the Dutch market (+18.4%) with the opening of a third store in Maastricht and the development of the network of multi-brand retailers.
The “Home & Lifestyle” division was impacted by an overall decline in demand in its various markets. In a context of adjustment of its offers by channel and changes in its internal organization, the division closed the half-year with sales of €47.8 Mn, down -7.2% at actual exchange rates (-5.6% at like for like exchange rates).
Finally, the “Healthcare” division posted sales of €14.7 Mn, up +1.2% over the first half at constant real exchange rates. Santéol is benefiting from the strengthening of its sales teams while Almadia and MSanté are making a strategic refocus.
FINANCIAL RESULTS
The Group’s operating EBITDA improved again to €14.1 Mn, compared to €12.6 Mn last year, reflecting continued work on margins and cost optimization, and despite increased competition from Chinese e-commerce platforms that had a strong impact on digital marketing costs.
The operating EBITDA of the “Fashion” division was up significantly to €15.7 Mn, an improvement of 27%, reflecting the strong increase in the profitability of the Damart and Xandres brands, supported by controlled margin management. The Home & Lifestyle division closed the half-year with an EBITDA of -€2.8 Mn, mainly impacted by the contraction in its business as well as by the investment in two logistics projects whose profits should materialize in the coming quarters. The Healthcare division continued to invest in its strategic repositioning and geographical development, while posting an EBITDA of €1.2 Mn for the first half (down €0.9 Mn).
Damartex closed the first half of the year with a net profit from continuing operations of -€1.8 Mn, compared with -€2.6 Mn in the first half of the previous year.
FINANCIAL SITUATION
The net financial position stood at -€102.8 Mn at the end of December 2025 (compared to -€119.6 Mn at the end of June 2025), illustrating the efforts made over the past several quarters to optimize costs, pursue targeted investments, improve inventory management, and more generally the Group’s operating performance.
The working capital requirement amounted to €5.8 Mn at the end of December 2025, compared to €18.6 Mn last year.
PERSPECTIVES
Aware of the challenges it faces, the Damartex Group continues to optimize and fine-tune its activities to strengthen its profitability, in a macroeconomic environment that remains difficult. With improving fundamentals and historically high customer and employee satisfaction indicators, Damartex remains fully mobilized to accelerate this trajectory and intends to continue the deployment of its DARE. ACT. IMPACT 2026 strategic plan, which is focused on the profitable growth of each of its activities. However, the Group remains attentive to recent developments in the international geopolitical context that weigh on consumer confidence and may lead to pressures on the costs of energy, transport, certain products and services, as well as on delivery times and exchange rate developments.