COGRA: Return to Profitable Growth in 2025/26

Cogra, a pioneer in wood energy, announced a 24% increase in revenue, reaching €42.4 million for the 2025/26 fiscal year. EBITDA rose to €3.3 million, reflecting a return to profitability after a transition period. This growth was driven in particular by increased sales of wood pellets. Having normalized its inventory and production capacity, Cogra reported net financial debt of -€0.2 million, indicating a strengthened financial position.

Operating income increased by 45%, reaching €40.6 million. However, raw material purchases also rose by 49%, linked to the resumption of production volumes. Rigorous inventory management resulted in a 13% decrease. As of June 30, 2026, financial debt had decreased by 32% to €4.0 million, with cash reserves of €4.2 million.

Cogra anticipates continued profitable growth in 2026/27, based on a stable wood pellet market and secure supply. The company also plans to improve its environmental performance with a new investment in Séverac-le-Château.