IEVA GROUP
IEVA GROUP: IEVA Group announces its first-half results

14-Oct-2026 / 18:30 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

IEVA GROUP ANNOUNCES ITS FIRST-HALF RESULTS, SHOWING VERY STRONG GROWTH

WITH FIRST-HALF ADJUSTED EBITDA CLOSE TO BREAK-EVEN,
THE GROUP CONFIRMS ITS FULL-YEAR TARGET SET
AT THE TIME OF ITS IPO

• FIRST HALF 2026 REVENUE OF €21.8M, UP 145.4%, WITH ORGANIC GROWTH OF 3.9%

• SUCCESSFUL ROLL-OUT OF IOMA PRODUCTS ACROSS 368 DOUGLAS STORES IN ITALY, WITH EXCELLENT SALES MOMENTUM TO DATE

• SUCCESSFUL INTEGRATION OF MY LITTLE PARIS

• ADJUSTED EBITDA OF -€0.1M, SHOWING A VERY SIGNIFICANT IMPROVEMENT

• GROSS CASH POSITION OF €14.9M AS OF JUNE 30th, 2026

• CONFIRMATION OF THE TARGET OF POSITIVE EBITDA FOR FY 2026

Paris (France) – October 14th, 2026 – 6:30 pm.

IEVA Group (Euronext Growth — FR0014015ND9, ALIEV), the leading company in personalized beauty and wellness, today announces its results for the first half of 2026, ended June 30th, 2026.

Jean Michel KARAM, Chairman and Chief Executive Officer and founder of IEVA Group, commented:

“The significant improvement in our operating performance, with adjusted EBITDA now close to break even, confirms the relevance of our strategy and the progress achieved during the first half of the year. The integration of My Little Paris, combined with the positive momentum of our historical businesses, further strengthens the resilience and complementary nature of our business model. Our solid financial position provides us with the resources to pursue our development with both ambition and discipline.

We are also continuing to strengthen the Group’s organization, with the announced appointment of Gabriele Betti as Deputy Chief Executive Officer, as well as the appointments to our Board of Directors of Bpifrance representative Luis Pereira and two independent directors, Caroline Pois and Michele Benzeno.

I would like to warmly thank all our teams for their commitment and the tremendous work accomplished during the first half. We therefore confirm our target of achieving positive EBITDA for FY2026 and our ambition to establish IEVA Group as a leading Beauty Tech player, firmly on a path of profitable growth.”

Strong first-half growth, driven by the integration of My Little Paris and organic growth

In line with the previously reported first-half revenue figures, consolidated revenue for the first half of 2026 amounted to €21,803k, compared to €8,884k in the first half of 2025, representing an increase of 145.4%.

(Any apparent discrepancies in totals are due to rounding.)

(Any apparent discrepancies in totals are due to rounding.)

The integration of My Little Paris, consolidated since October 1st, 2025, fully contributes to the Group’s strong revenue growth, with revenue reaching €21,803k in the first half of 2026, up 145.4% compared to the first half of 2025, representing an increase of €12,919k.

On a like-for-like basis, excluding the contribution from My Little Paris, IEVA Group recorded organic growth of 3.9%, confirming the positive momentum of its historical businesses.

This growth was primarily driven by the Products segment, where revenue increased by 11.9%. This performance reflects the Group’s continued commercial development in Europe, notably with the listing of IOMA products across all 368 Douglas stores in Italy, the country’s leading selective beauty retailer. The development of the Wonderskin brand with several European retailers also contributed to this momentum.

The Services segment also posted positive growth (+1.3%), demonstrating its resilience in a macroeconomic environment that remains mixed.

Revenue from the Subscriptions segment amounted to €12,255k, compared to €192k one year earlier. This increase reflects the integration of My Little Paris. These recurring revenues, generated from subscriptions, therefore now account for 56% of the Group’s consolidated revenue in the first half of 2026, compared to 2% one year earlier.

From a geographical perspective, the ramp-up in Italy has significantly strengthened the Group’s presence in Europe. Europe’s share of revenue increased from 9% to 15%, while France now accounts for 75% of sales, compared to 84% one year earlier, thereby validating the Group’s international expansion objective. The rest of the world accounted for 9% of consolidated revenue, compared to 8% in the first half of 2025.

Significant improvement in operating performance and net income

The Group’s consolidated income statement for the first half of 2026 can be analyzed as follows:

(Figures subject to a limited review by the Group’s statutory auditor. Any apparent discrepancies in totals are due to rounding.)

* Net of other operating income

Operating loss before depreciation, amortization and impairment of goodwill amounted to €288k, compared to €3,074k in the first half of 2025.

Excluding the non-recurring items related to impairment losses recognized in the first half of 2025, adjusted operating income before depreciation, amortization and impairment of goodwill improved by €1,413k, from a loss of €1,701k in the first half of 2025 to a loss of €288k in the first half of 2026. This improvement reflects the improved operating performance of the Group’s businesses.

Net financial expense amounted to €100k in the first half of 2026, compared to €63k in the first half of 2025.

The Group recognized no exceptional income or expenses in the first half of 2026, compared to an exceptional expense of €1,005k in the first half of 2025.

After taking into account the income tax expense, the net result from equity-accounted entities and the share of net income attributable to non-controlling interests, net loss attributable to the Group amounted to €465k in the first half of 2026, compared to €5,614k in the first half of 2025, representing an improvement of €5,149k. The net loss attributable to the Group was therefore reduced by 92% compared to the first half of 2025.

Adjusted EBITDA(1) close to break-even, confirming the full-year target set at the time of the IPO

In the first half of 2026, adjusted EBITDA(1) amounted to -€107k, representing -0.5% of revenue, compared to -€1,442k in the first half of 2025. This performance reflects a level of activity now close to break-even, while maintaining the commercial investments required to support brand development and the Group’s international expansion. The adjusted EBITDA margin therefore improved by nearly 16 percentage points year-on-year, from -16.2% to -0.5% of revenue.

(1 ) Adjusted EBITDA corresponds to operating profit/(loss) adjusted for depreciation and amortization, impairment losses and recurring operating provisions, which are non-cash expenses, excluding impairment of current assets.

A solid financial position

(Any apparent discrepancies in totals are due to rounding.)

As of 30 June 2026, the Group’s cash position amounted to €14,939k, compared to €10,756k as of 31 December 2025. After taking into account €4,046k in borrowings and financial debt, net cash amounted to €10,893k as of 30 June 2026, compared to €5,447k as of 31 December 2025.

The change in the Group’s cash position notably reflects the €6,401k in proceeds from the capital increase completed in connection with the IPO, partially offset by €1,263k in debt repayments and net cash flow from operating activities of -€978k, including a -€678k change in working capital requirements, mainly due to the decrease in trade payables and other creditors.

Outlook: confirmation of the positive EBITDA target for 2026

Building on the momentum achieved in the first half of the year, IEVA Group enters the second half of the financial year with confidence.

In light of its first-half performance and the visibility it currently has, IEVA Group confirms its target of achieving positive EBITDA for FY2026 and the development of its business model based on profitable growth, recurring revenue growth and continued international expansion.

The confirmation of the Group’s positive EBITDA target for 2026 is fully aligned with the objectives set at the time of its IPO on Euronext Growth Paris in March 2026 and reflects the profitable growth trajectory presented to the financial markets.

Upcoming events

• Full-year 2026 revenue: 26 January 2027
• Full-year 2026 results: 20 April 2027

Consolidated balance sheet

Consolidated income statement

(1)As part of the half-year review of the carrying amounts of assets recognized in the consolidated balance sheet, as of 30 June 2025 the Group performed an individual assessment covering, in particular, goodwill, business assets and leasehold rights. This assessment was carried out in accordance with the applicable accounting principles, taking into account updated profitability forecasts and the market conditions specific to each cash-generating unit. Following this review, the Group recognized impairment losses on certain intangible, tangible and financial assets amounting to €2,724k, €118k and €7k, respectively. These impairment charges, recognized under “Operating impairment charges” for €1,373k, “Goodwill impairment charges” for €1,469k and “Financial provision charges” for €7k, had no impact on the Group’s cash position. Excluding the above non-recurring items, the adjusted operating loss before depreciation, amortization and impairment of goodwill would have amounted to €1,701k for the first half of 2025.

As of 30 June 2026, the Group reviewed the carrying amounts of goodwill in accordance with the same principles. Based on updated profitability forecasts and the market conditions specific to each cash-generating unit, this review did not identify any impairment requiring the recognition of an additional impairment charge for the first half of 2026.

(2)Comparative earnings per share as of 30 June 2025 have been restated to reflect the four-for-one share split carried out during the first half of 2026, which resulted in a fourfold increase in the number of shares outstanding.

Statement of changes in consolidated shareholders’ equity

Consolidated cash flow statement

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Revenue by business activity
(in € thousands)

H1 2025

(%)

H1 2026

(%)

Subscriptions

192

2%

12,255

56%

Products

3,867

43%

4,329

20%

Services

4,135

47%

4,190

19%

Royalties

690

8%

674

3%

Media

-

-

355

2%

Total consolidated revenue

8,884

100%

21,803

100%

Revenue by geographical region
(in € thousands)

H1 2025

(%)

H1 2026

(%)

France

7,430

84%

16,418

75%

Europe

768

9%

3,344

15%

Rest of the world

686

8%

2,041

9%

Total consolidated revenue

8,884

100%

21,803

100%

(in € thousands)

H1 2025

H1 2026

Revenue

8,884

21,803

Net operating expenses*

(11,958)

(22,091)

Operating income before depreciation, amortization and impairment of goodwill

(3,074)

(288)

Depreciation, amortization and impairment of goodwill related to consolidated entities

(1,469)

-

Operating income after depreciation, amortization and impairment of goodwill related to consolidated entities

(4,543)

(288)

Financial income and expenses

(63)

(100)

Non-recurring income and expenses

(1,005)

-

Income tax

-

(93)

Share of net income from equity-accounted entities

(8)

(6)

Net income for the consolidated group

(5,619)

(487)

Non-controlling interests

(5)

(22)

Net income (Group share)

(5,614)

(465)

(in € thousands)

H1 2025

H1 2026

Operating income before depreciation, amortization and impairment of goodwill

(3,074)

(288)

Depreciation, amortization, impairment and provisions
Non-recurring items – impairment losses

(1,373)

-

Operating income before depreciation, amortization and impairment of goodwill (excluding impairment losses)

(1,701)

(288)

(in € thousands)

H1 2025

H1 2026

Revenue

8,884

21,803

Operating income before depreciation, amortization and impairment of goodwill

(3,074)

(288)

Net operating depreciation and amortization

1,632

181

Adjusted EBITDA 1

(1,442)

(107)

% of revenue

-16.2%

-0.5%

(in € thousands)

31-12-2025

30-06-2026

Cash

10,756

14,939

Borrowings and financial debt

(5,309)

(4,046)

Net cash

5,447

10,893

Total Equity

9,261

15,173

Net cash / Total Equity

58.8%

71.8%

(in € thousands, unless otherwise stated)

As of Jun. 30

As of Dec. 31

2026

2025

ASSET

Intangible assets

6,456

6,488

of which goodwill

4,170

4,170

Property, plant and equipment

795

909

Financial assets

437

493

Equity-accounted investments

56

62

Total non-current assets

7,744

7,952

Inventories and work in progress

2,323

3,658

Trade receivables and related accounts

3,517

4,137

Other receivables and accruals

2,359

2,322

Marketable securities

4,000

1,000

Cash and cash equivalents

10,939

9,756

Total current assets

23,138

20,873

Total assets

30,882

28,825

LIABILITIES AND EQUITY

Share capital

247

232

Share premium

8,579

9,619

Consolidated reserves

6,885

7,742

Net income (Group share)

(465)

(8,283)

Other

(20)

(18)

Total equity – Group share

15,226

9,292

Non-controlling interests

(53)

(31)

Total equity

15,173

9,261

Provisions

661

658

Borrowings and financial debt

4,046

5,309

Trade payables and related accounts

3,967

5,320

Other liabilities and accruals

7,035

8,277

Total liabilities

15,048

18,906

Total liabilities and equity

30,882

28,825

(in € thousands, unless otherwise stated)

As of Jun. 30

As of Jun. 30

2026

2025

Revenue

21,803

8,884

Other operating income

2,338

(350)

Cost of goods sold

(5,598)

(1,266)

Personnel expenses

(7,228)

(4,569)

Other operating expenses

(10,241)

(3,941)

Taxes and duties

(247)

(190)

Depreciation, amortization, impairment and provisions (1)

(1,115)

(1,642)

Operating income before depreciation, amortization and impairment of goodwill

(288)

(3,074)

Depreciation, amortization and impairment of goodwill related to consolidated entities

-

(1,469)

Operating income after depreciation, amortization and impairment of goodwill related to consolidated entities

(288)

(4,543)

Financial income and expenses

(100)

(63)

Non-recurring income and expenses

-

(1,005)

Income tax

(93)

-

Net income from consolidated entities

(481)

(5,611)

Share of net income from equity-accounted entities

(6)

(8)

Net income for the consolidated group

(487)

(5,619)

Net income - non-controlling interests’ share

(22)

(5)

Net income (Group share)

(465)

(5,614)

Earnings per share (€ per share)(2)

(0.048)

(0.837)

Diluted earnings per share (€ per share)(2)

(0.048)

(0.821)

(in € thousands, unless otherwise stated)

As of Jun. 30

As of Jun. 30

2026

2025

Operating income before depreciation, amortization and impairment of goodwill

A

(288)

(3,074)

Depreciation, amortization, impairment and provisions
Non-recurring items – impairment losses

B

-

(1,373)

Adjusted operating income before depreciation, amortization and impairment of goodwill (excluding impairment losses)

A - B

(288)

(1,701)

(in € thousands, unless otherwise stated)

(Parent –company shareholders’ share)

Capital

Share premium

Consolidated
reserves

Net income for the period

Translation differences

Non-controlling interests

Total equity

Balance as of Jan. 1, 2025

166

7,929

6,770

(3,608)

-

(91)

11,167

Appropriation of net income

-

(4,579)

972

3,608

-

-

-

Capital increase

4

1,701

-

-

-

-

1,705

Change in scope

-

-

-

-

-

-

-

Foreign exchange differences

-

-

-

-

-

-

-

Net income for S1 2025

-

-

-

(5,614)

-

(5)

(5,619)

Balance as of Jun. 30, 2025

170

5,051

7,742

(5,614)

-

(96)

7,253

(Parent –company shareholders’ share)

Capital

Share premium

Consolidated
reserves

Net income for the period

Translation differences

Non-controlling interests

Total equity

Balance as of Jan. 1, 2026

232

9,619

7,742

(8,283)

(18)

(31)

9,261

Appropriation of net income

-

(7,426)

(857)

8,283

-

-

-

Capital increase

15

6,386

-

-

-

-

6,401

Change in scope

-

-

-

-

-

-

-

Foreign exchange differences

-

-

-

-

(2)

-

(2)

Net income for S1 2026

-

-

-

(465)

-

(22)

(487)

Balance as of Jun. 30, 2026

247

8,579

6,885

(465)

(20)

(53)

15,173

(in € thousands, unless otherwise stated)

As of Jun. 30

As of Jun. 30

2026

2025

Net income for the consolidated group

(487)

(5,619)

Elimination of non-cash items or items not related to operations:

Depreciation and provisions (1)

181

3,109

Change in deferred taxes

-

-

Elimination of gains and losses on disposals

-

9

Elimination of share of profit/loss of equity-accounted entities

6

8

Other non-cash items

-

1,005

Gross cash flow from consolidated entities

(300)

(1,488)

Change in inventories and work in progress (2)

1,335

808

Change in trade receivables and other debtors (2)

(399)

210

Change in trade payables and other creditors

(1,614)

(13)

Change in working capital

(678)

1,005

Net cash flow from operating activities

(978)

(483)

Acquisition of fixed assets

(31)

(48)

Disposal of fixed assets

56

-

Impact of changes in scope

-

-

Net cash flow from investing activities

25

(48)

Capital increase (cash)

6,401

-

New borrowings

-

-

Repayment of borrowings

(1,263)

(986)

Net cash flow from financing activities

5,138

(986)

Impact of exchange rate fluctuation

(2)

-

Change in cash

4,183

(1,516)

Opening cash balance

10,756

5,019

Closing cash balance

14,939

3,502

(1)Excluding impairment of current assets

(2)Including impairment of current assets