Cantourage Group: H1 out: Margins over sales is increasingly paying off; chg. - NuWays AG Research
Topic: Cantourage released Q2'26 figures showing a further step-up in earnings quality. Sales
declined yoy on a deliberate exit from low-margin German volumes, while EBITDA grew 45% yoy.
ANNONS
Q2 sales came in at € 21.8m, down 21.9% yoy but up 5.8% qoq (Q1'26: € 20.6m), marking the
second consecutive quarter of sequential growth. Importantly, the yoy optic reflects the last hard
comparable of the cycle: Q2'25 (€ 27.9m) was the peak quarter of the German volume boom, before
the price war in the standard flower segment set in. With Q3'25 and Q4'25 at c. € 19.9m and € 18.6m
respectively, group sales should return to yoy growth from Q3'26e onwards (eNuW).
