Caltagirone (CALT) H1 2026 earnings summary

Executive summary

• Net profit for the first half of 2026 reached €155.7 million, up 19% year-over-year; group attributable profit was €98 million, up 24.9%.

• Comprehensive income totaled €395.3 million, mainly due to fair value gains on equity investments and capital gains from the sale of listed shares.

• Operating revenues grew 8.3% to €1.186 billion, driven primarily by the strong performance in the large works segment.

• Operating EBITDA rose 8.4% to €201 million, reflecting strong construction sector performance.

• Total equity reached €4.184 billion, up from €3.783 billion at year-end 2025.

Financial highlights

• Operating EBITDA rose 8.4% to €201 million; operating income increased 6.4% to €115.3 million.

• Net financial position improved to €426.8 million, up €181.4 million from June 2025, mainly due to positive cash flow from Cementir and Vianini Lavori.

• Total equity reached €4.184 billion, with group equity at €2.492 billion, reflecting fair value gains and positive results.

• Dividend distribution of €0.3 per share, totaling €36.1 million.

• Net financial income: €75.8 million, up from €51.6 million, driven by higher dividends from listed equity investments.

Outlook and guidance

• Cementir Holding expects to confirm its 2026 economic and financial targets, excluding non-recurring items.

• Vianini Lavori will continue expanding its order book and focus on stabilizing revenue growth and maintaining margins.

• Publishing sector to focus on digital product enhancement and cost containment; Domus Italia and real estate segment to continue rationalizing portfolios.