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Robertet SA Cert.d'Invest. Em.87 (CBE) Q2 2026 Earnings Report
FR:CBE Q2 2026 EPS Results
- Actual EPS
- EUR 25.81
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- EUR 27.90
FR:CBE Q2 2026 Revenue Results
- Actual Revenue
- EUR 444.28M
- Expected Revenue
- EUR 444.28M
- Beat/Miss
- Beat by +EUR 1,000
- YoY Revenue Growth
- -0.46%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 09/17/2026
- Time
- During Market Hours
- Conference Call
- Thursday, September 17, 2026
Robertet SA Cert.d'Invest. Em.87's next earnings date is estimated for April 21, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
The call was predominantly positive. Robertet delivered positive organic growth, strong Fragrance and Health and Beauty performance, robust profitability, improved operating cash flow, positive free cash flow, strong sustainability credentials, and continued international investment. The main challenges were the reported revenue decline, weaker Raw Materials and Flavors performance, currency and oil-related cost headwinds, a cautious mature-market environment, and limited M&A execution. Management nevertheless maintained its full-year growth and profitability objectives and reiterated its long-term growth ambitions.
For 2026, Robertet will target an organic growth of between +3% and +5% for the full-year, with an EBITDA above 21%; management also said the year to go will be between +4.7% and +7%, and that the second half will be a bit more pricing driven than volume driven. The company is targeting an EBIT in line with the past three years, clarified as being at the EBITDA level, not at the margin level, while its long-term guidance remains to be above 20%. CapEx is expected to remain between 4% and 5% of sales. Under Seed to Success 2030, Robertet wants to reach between EUR 1.1 billion and EUR 1.2 billion by 2030, implying an annual average growth of 5%-7% between 2025 and 2030, including EUR 50 million to EUR 80 million of revenues from targeted acquisitions over this period.
- Positive Organic Growth Despite Moderate Market ConditionsOrganic growth reached 2.8% in the first half despite adverse currency effects and contrasting divisional trends. Organic growth was 4.9% in the first quarter and 0.7% in the second quarter.
- Strong Fragrance PerformanceThe Fragrance division delivered organic growth of 12.6%, driven especially by niche fine-fragrance brands, emerging players, and strong momentum in Latin America and the East. Management said the trend continued into the second half, with fine fragrance and premiumization supporting growth across consumer categories.
- Health and Beauty Double-Digit GrowthHealth and Beauty achieved organic growth of 11.3%, benefiting from market expansion initiatives and strengthened scientific and commercial capabilities.
- Strong Growth in Latin America and AsiaLatin America delivered outstanding growth of 21%, supported notably by Brazil and the new creation center in São Paulo. Asia grew 12%, benefiting from the ramp-up of the Indonesian facility and continued strong momentum in India, particularly in Flavors.
- High Profitability MaintainedGross profit margin improved by 50 basis points, reflecting a favorable product mix with a strong contribution from Fragrance. Recurring EBITDA reached EUR 94 million, with a margin of 21.1%, which management described as historically strong despite being below the exceptionally high level achieved in H1 2025.
- Operating Income and Net Income GenerationOperating income reached EUR 75 million. Lower financing costs and a less adverse FX effect supported the financial result, resulting in group-share net income of EUR 54 million.
- Improved Operating Cash Flow and Positive Free Cash FlowOperating cash flow increased to EUR 40 million from EUR 32 million in H1 2025, mainly benefiting from lower tax payments returning to a more normalized level. Free cash flow remained positive at EUR 12.15 million despite EUR 18 million of industrial investment and EUR 6 million of financial investment.
- Solid Balance SheetGroup equity reached EUR 647 million at the end of June, and management described the balance sheet as very solid.
- Continued Investment in Future GrowthRobertet continued investing in industrial capacity, scientific and commercial teams, information systems, and customer-facing capabilities. Management is maintaining an ongoing CapEx range of 4% to 5% of sales, including investments in IT, creative centers, new capacity, and international expansion.
- Expansion of International and Industrial FootprintThe company opened a new factory in Indonesia, is expanding its unit in Mexico, is steadily investing in its larger and older units in Grasse and the U.S., and expects to invest in China in the coming months. The São Paulo creation center is supporting growth in Brazil, with additional customer-facing investments also identified for Singapore and Mexico.
- Strong Sustainability RecognitionRobertet received EcoVadis Platinum recognition for the third consecutive year, with an improved score of 89 out of 100, placing it among the top 1% of companies globally. The group had 67 CSR-verified or certified supply chains as of year-end 2025 and obtained Fair for Life certification for its Rose Damascena supply chain in Bulgaria since January 2026.
- Resilient Full-Year OutlookManagement targets full-year 2026 organic growth of between 3% and 5% and expects EBITDA to remain above 21%, supported by disciplined cost management and pricing actions.
- Pricing Actions and Expected FX ImprovementThe company has taken pricing action to mitigate higher petroleum-derived raw-material costs, particularly in the second half. Management expects easing foreign-exchange headwinds to favor published turnover and reduce the gap between published and organic growth.
- Long-Term Growth Ambitions MaintainedThe Seed to Success 2030 plan continues to guide the group toward revenue of between EUR 1.1 billion and EUR 1.2 billion by 2030. This implies average annual growth of 5% to 7% between 2025 and 2030, including EUR 50 million to EUR 80 million of revenue from targeted acquisitions.
- Long-Term Margin Target and Competitive PositionRobertet reiterated its long-term target of an EBITDA margin above 20%. Management said the company benefits from the natural-ingredients segment, premiumization, vertically integrated know-how, a broad product catalog, new natural-ingredient supply chains, and a growing international footprint.
- New Growth Relays in FlavorsAlthough Beverage remains the largest Flavors category, management identified additional growth opportunities in dairy, sports drinks, functional food, and savory products. New category-manager roles were established for Beverage, Dairy, and more savory products.
- Disciplined Capital Allocation and Gradually Rising DividendsManagement said the company is increasing dividend payouts step by step while prioritizing long-term investment. It also stated that the company remains disciplined on acquisition pricing and does not plan a buyback at the end of the year or in the years to come.
FR:CBE Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Apr 21, 2027 | 2026 (Q4) | ―- | 20.79 | ― | ― |
| Sep 17, 2026 | 2026 (Q2) | ―25.81 | 27.9 | -7.48% (-2.09) | |
| Apr 09, 2026 | 2025 (Q4) | ―20.79 | 18.33 | 13.45% (+2.46) | |
| Sep 11, 2025 | 2025 (Q2) | 27.9027.90 | 24.71 | 12.92% (+3.19) | |
| Apr 14, 2025 | 2024 (Q4) | ―18.33 | 16.59 | 10.44% (+1.73) | |
| Sep 11, 2024 | 2024 (Q2) | ―24.71 | 19.14 | 29.12% (+5.57) | |
| Apr 11, 2024 | 2023 (Q4) | ―16.59 | 13.39 | 23.96% (+3.21) | |
| Sep 29, 2023 | 2023 (Q2) | ―19.14 | 19.49 | -1.82% (-0.35) | |
| Apr 21, 2023 | 2022 (Q4) | ―13.39 | 14.55 | -8.02% (-1.17) | |
| Sep 30, 2022 | 2022 (Q2) | 17.3719.49 | 16.47 | 18.31% (+3.02) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
