TERACT's H1 2025-2026 Results: Impacted Revenue and Strategic Adjustments

TERACT reported a 7.1% drop in H1 2025-2026 revenue, down to €361.9 million, primarily due to store disposals within a challenging market context. The adjusted EBITDA decreased to €4.7 million, highlighting financial pressure.

The group's net loss widened to €89.4 million, largely impacted by a €50.4 million goodwill impairment at Boulangerie Louise. Strategic moves include the proposal by InVivo Group for a public buy-out of TERACT shares.

Efforts to stabilize and restructure include transitioning 97% of Gamm vert stores to franchises and progressing with support and logistics reorganization. The strengthened e-commerce performance aligns with TERACT’s strategic aims.

Cash flow suffered, with free cash flow at (€60.2 million). Debt rose due to a €70 million loan from InVivo, maintaining future financial stability. The forward strategy focuses on full franchising for Gamm vert by end-2026 and expanding the Boulangerie Louise model.