Board of Directors approves the Half-Year Report as at 30 June 2026
Revenues
of
€
11.6m
(+25.3%
YoY)
with
an
EBITDA
margin
of
5.9%
Key results as at 30 June 2026 ●
Revenues
of
€
11.6m,
+25.3%
vs
€
9.2m
in
H1
2025
●
EBITDA
of
€
0.711m,
+6%
vs
€
0.67m
in
H1
2025
●
EBIT
of
€
0.49m
vs
€
0.48m
in
H1
2025
●
Net
profit
of
€
0.35m,
+67%
vs
€
0.2m
in
H1
2025
●
Net
Financial
Position
of
€
1.0m
(net
cash)
vs
€
0.7m
(net
cash)
as
at
31
December
2025
Casamassima (BA), 29 September 2026 Yakkyo S.p.A. (the “Company”), an innovative SME that develops integrated software solutions for dropshipping and the
wholesale
distribution
of
third-party
products,
and
which
has
developed
an
AI-based
suite
to
support
its
customers
in
their
online
sales
activities,
announces
that
its
Board
of
Directors,
which
met
today,
approved
the
half-year
report
as
at
30
June
2026.
Giovanni Conforti, Chairman and Chief Executive Officer of Yakkyo: “The first half of 2026 was marked by double-digit
growth,
funded
entirely
from
Yakkyo’s
own
resources:
revenues
accelerated
and,
over
the
same
period,
our
net
cash
position
strengthened
even
more
markedly,
despite
absorbing
the
increase
in
working
capital
that
comes
with
higher
volumes.
This
demonstrates
a
business
model
that
maintains
a
solid
financial
position
even
during
a
phase
of
growth
and
higher
working
capital
absorption,
and
this
is
the
benchmark
by
which
we
measure
our
financial
strength.
The
direct
integration
with
1688.com
and
the
central
role
of
dropshipping
are
adding
further
momentum
to
a
positive
trajectory,
which
the
first
months
of
the
second
half
have
confirmed.
We
will
continue
to
grow
with
the
same
financial
discipline,
which
we
regard
as
our
foremost
commitment
to
our
shareholders.”
KEY RESULTS AS AT 30 JUNE 2026
Revenues amounted to Euro 11.6 million, up by more than 25% compared with Euro 9.2 million in the first half of 2025.
Dropshipping
remains
the
main
sales
channel,
with
revenues
of
Euro
7.1
million
.
The
Value
of
Production
amounted
to
Euro
11.8
million
and,
in
addition
to
revenues,
includes
“other
revenues
and
income”
of
Euro
0.3
million.
EBITDA grew by 6.0% to Euro 0.7 million compared with the first half of 2025. The EBITDA margin stood at 6.0% (7.1% in
the
first
half
of
2025),
reflecting
a
mix
effect:
during
the
period,
the
Company
completed
two
transactions
with
leading
international
operators,
aimed
at
entering
a
market
segment
not
previously
served
by
the
Company.
These
contracts,
entered
into
on
terms
consistent
with
a
market-entry
phase,
generated
additional
volumes
at
a
lower
percentage
margin
than
the
core
business
average,
while
still
contributing
positively
to
EBITDA
in
absolute
terms.
Excluding
these
transactions,
the
EBITDA
margin
would
have
been
in
line
with
the
Company’s
expectations.
In
addition
to
opening
up
new
business
development
opportunities,
these
transactions
represent
significant
recognition
of
Yakkyo’s
ability
to
serve
operators
of
the
highest
standing,
including
internationally.
In terms of costs, the main items remain purchases of goods for resale, which amounted to Euro 6.0 million (+48.8%
compared
with
the
first
half
of
2025),
followed
by
service
costs
of
Euro
4.7
million,
up
from
Euro
4.3
million
in
the
first
half
of
2025.
Depreciation and amortisation amounted to Euro 0.2 million, resulting in a positive EBIT of Euro 0.5 million, in line
with
the
first
half
of
2025.
The first half of 2026 closed with a Net profit of Euro 0.35 million, up from Euro 0.2 million in the first half of 2025.
Trade working capital amounted to Euro 1.5 million, up from Euro 0.8 million as at 31 December 2025. This change is
mainly
attributable
to
an
increase
in
trade
receivables.
The Net Financial Position was positive (net cash) at Euro 1.0 million, an improvement on Euro 0.7 million (net cash) as at
31
December
2025,
confirming
a
solid
financial
position
even
amid
business
growth
and
higher
working
capital
absorption.
KEY EVENTS DURING THE FIRST HALF OF 2026
On 22 January 2026, the Board of Directors resolved upon (with subsequent approval by the Shareholders’ Meeting on 9
February
2026)
the
transfer
of
Yakkyo’s
shares
from
EGM
PRO
to
the
Euronext
Growth
Milan
market,
the
authorisation
to
purchase
and
dispose
of
treasury
shares
for
a
maximum
period
of
18
months,
and
the
granting
of
powers
to
increase
the
share
capital
up
to
a
maximum
total
amount
of
Euro
5,000,000,
including
with
the
exclusion
of
pre-emptive
rights
and/or
free
of
charge
in
the
cases
provided
for
by
applicable
law,
as
well
as
the
further
resolutions
required
to
align
the
Company
with
the
regulatory
requirements
of
the
EGM
market.
On 2 February 2026, the Company appointed Value Track SIM S.p.A. as Euronext Growth Advisor, with the
appointment
becoming
effective
upon
the
issuance
to
Borsa
Italiana
of
the
declaration
required
by
the
Euronext
Growth
Milan
Rules
for
Euronext
Growth
Advisors.
On 6 February 2026, the placement of 717,500 ordinary shares through an accelerated bookbuilding procedure, at a
price
of
Euro
1.00
per
share,
sold
by
the
selling
shareholder
to
institutional
and
professional
investors,
was
successfully
completed.
Following
settlement
of
the
transaction,
the
Company’s
free
float
increased
to
36.26%
of
the
share
capital,
meeting
the
requirements
for
admission
to
the
Euronext
Growth
Milan
market.
On 12 February 2026, the Company received the admission notice from Borsa Italiana for trading on the Euronext
Growth
Milan
market,
with
trading
commencing
on
13
February
2026
.
On 15 April 2026, Yakkyo entered into a partnership with Olidata, acting as its exclusive full-service industrial partner for
the
hardware
devices
of
the
BeYou
line,
Olidata’s
new
range
of
branded
notebooks,
tablets
and
accessories.
On 20 May 2026, the Company announced its direct integration with 1688.com (Alibaba Group), the world’s largest
wholesale
marketplace,
with
over
1
billion
products
and
more
than
10
million
suppliers.
On 22 June 2026, the Company appointed CFO SIM S.p.A. as intermediary for the execution of the treasury share
buyback
programme.
TREASURY SHARES
As part of the treasury share buyback programme authorised by the Shareholders’ Meeting of 9 February 2026, the
Company
announces
that
it
purchased
6,250
treasury
shares
between
15
and
21
July
2026,
at
a
weighted
average
price
of
€
2.10
per
share,
for
a
total
consideration
of
€ 13,125.
On
29
July,
it
announced
a
second
purchase
of
treasury
shares,
executed
through
CFO
SIM
S.p.A.,
totalling
8,750
shares
between
22
and
28
July
2026,
at
a
weighted
average
price
of
€
2.83
per
share,
for
a
total
consideration
of
€ 24,750.
Following these transactions, as at 29 July 2026 Yakkyo holds a total of 15,000 treasury shares, equal to 0.27% of the
share
capital.
SIGNIFICANT EVENTS AFTER THE FIRST HALF AND BUSINESS OUTLOOK
On 20 August 2026, the Company provided clarifications regarding recent news on the possible impact of international
tariff
measures
on
its
margins.
In
particular,
the
Company
clarified
that
the
US
regulatory
framework
concerning
the
suspension
of
the
de
minimis
exemption
for
low-value
shipments
from
China
and
Hong
Kong,
in
force
since
2
May
2025,
is
already
fully
reflected
in
its
operating
model
and
has
not
put
any
pressure
on
margins.
With
regard
to
the
new
flat
€ 3
customs
duty
applicable
to
low-value
shipments
into
the
European
Union,
in
force
since
1
July
2026,
the
Company
further
clarified
that
this
measure
has
no
direct
impact
on
its
margins,
as
its
business
model
does
not
involve
direct
sales
to
end
consumers.
The
related
duties
are
in
fact
passed
on
in
full
to
customers
and
therefore
do
not
represent
a
cost
borne
by
Yakkyo.
In the second half, the Company will continue to pursue its strategy of developing the dropshipping channel, including
through
the
integration
with
1688.com,
while
progressively
scaling
back
the
wholesale
channel.
In
the
first
months
of
the
second
half,
core
business
revenues
showed
a
positive
trend
compared
with
the
same
period
of
2025.
Management
will
continue
to
monitor
developments
in
the
international
tariff
environment
and
their
possible
effects
on
customer
volumes.
DOCUMENTATION
The Half-Year Report as at 30 June 2026 will be made available to the public within the time limits and in the manner provided for by the Euronext Growth Milan Rules for Companies, on the website www.yakkyo.com, Investor Relations > Financial Statements and Reports section, as well as on www.borsaitaliana.it, Shares > Documents section.
ATTACHMENTS
●
Reclassified
Income
Statement
of
Yakkyo
S.p.A.
as
at
30
June
2026
vs
30
June
2025
●
Reclassified
Balance
Sheet
of
Yakkyo
S.p.A.
as
at
30
June
2026
vs
31
December
2025
●
Net
Financial
Position
of
Yakkyo
S.p.A.
as
at
30
June
2026
vs
31
December
2025
This press release is available on the Company's website www.yakkyo.com and on www.1info.it ***
Issuer Profile
Yakkyo
S.p.A.
(ISIN
IT0005573966,
ticker
YKY)
is
an
innovative
SME
that
manages
the
procurement,
storage
and
worldwide
logistics
of
goods
on
behalf
of
its
e-commerce
customers
through
its
proprietary
technology
platform,
Yakkyofy .
The
Company
stands
out
as
the
only
one
of
its
kind
in
Europe,
developing
integrated
AI-powered
software
solutions
for
dropshipping
and
wholesale
processes.
The
Company
has
set
up
a
dedicated
research
and
development
department
with
the
aim
of
increasingly
optimising
process
automation.
Since
2022,
the
Company
has
focused
its
research
and
development
on
AI
technologies,
leading
to
the
launch
of
Pandarocket.ai.
This
suite
optimises
the
various
processes
involved
in
online
sales,
from
comparing
offers
and
prices
for
similar
items
to
creating
product
descriptions
and
editing
images
and
videos,
through
to
the
complete
automation
of
marketing
campaigns.
Yakkyo’ s
objective
is
to
make
e-commerce
more
efficient
and
accessible
by
simplifying
the
entire
process
of
purchasing
and
shipping
products
from
all
over
the
world,
thereby
enabling
its
business
customers
to
focus
more
on
sales
and
marketing,
while
also
offering
a
catalogue
of
over
1
billion
products.
Through
Yakkyofy ,
users
control
the
entire
process
of
purchasing,
selling
and
shipping
orders
from
a
single
platform,
tracking
order
status
in
real
time
and
managing
returns
and
refunds
in
a
simple
and
streamlined
way.
In
addition,
they
can
benefit
from
customised
solutions
tailored
to
their
specific
needs.
For
further
information:
www .yakkyo.com
Contacts
Yakkyo
S.p.A.
Issuer
S.S.
100
Km.
17,500
snc
Casamassima
(BA)
+39
08
02223904
ir@yakkyo.com
IR
Top
Consulting
Investor
&
Media
Relations
Advisor
Via
Bigli,
19
-
20121
Milano
+39
02
45473883/4
ir@irtop.com
(Investors)
ufficiostampa@irtop.com
(Media)
Value
Track
SIM
S.p.A.
Euronext
Growth
Advisor
Viale
Majno
17A,
20122
Milano
giovanni.tommasi@value-track.com
H1
H1
Income Statement (Euro thousands)
2026
% (i)
2025
% (i)
Revenues from sales
11,574
98%
9,235
98% Other revenues and income 275 2% 230 2% Value of production
11,849
100%
9,464
100%
Raw materials, consumables and goods for resale, net of change in inventories
(5,980)
(50%)
(4,018)
(42%)
Service costs
(4,695)
(40%)
(4,309)
(46%)
Leases and rentals
(66)
(1%)
(65)
(1%)
Personnel costs
(370)
(3%)
(380)
(4%)
Other operating expenses
(27)
(0%)
(21)
(0%)
EBITDA (ii)
711
6.0%
671
7.1%
Depreciation, amortisation and write-downs
(216)
(2%)
(182)
(2%)
Provisions
-
0% -
0%
EBIT (iii)
494 4%
489 5%
Financial income (expenses) 7 0%
(197)
(2%)
EBT 501
4% 292
3%
Income taxes
(155)
(1%)
(83)
(1%)
Net profit for the period 346 3% 209 2%
Balance Sheet (Euro thousands)
30/06/2026
31/12/2025
Intangible assets
1,536
1,404
Property, plant and equipment 74 82 Non-current financial assets 110 724 Net fixed assets
1,720
2,211
Inventories
451 621
Trade receivables
1,777
595
Trade payables
(738)
(389)
Trade working capital
1,490
827 Other current assets
1,120
1,153
Other current liabilities
(424)
(575)
Tax receivables and payables 323 652 Net accruals and deferrals
(113)
(258)
Net working capital (i)
2,397
1,799
Provisions for risks and charges
(80)
(60)
Employee severance indemnity (TFR)
(70)
(70)
Net invested capital (Uses) (ii)
3,966
3,880
Current financial debt 189 174 Current portion of non-current financial debt
1,180
1,141
Non-current financial debt
3,183
3,176
Total financial debt
4,551
4,491
Other current financial assets
(2,138)
(12)
Cash and cash equivalents
(3,368)
(5,174)
Net financial position (iii)
(954)
(695)
Share capital
55 55
Reserves
4,520
3,697
Net profit for the period 346 823
Shareholders' equity
4,921
4,575
Total sources
3,966
3,880
Net financial indebtedness (Euro thousands)
30.06.2026
31.12.2025
A Cash
(3,368)
(5,174)
B Cash equivalents -
0 C Other current financial assets
(2,138)
(12)
D Liquidity (A+B+C)
(5,506)
(5,186)
E Current financial debt 189 174 F Current portion of non-current financial debt
1,180
1,141
G Current financial indebtedness (E+F)
1,368
1,315
H Net current financial indebtedness (G-D)
(4,137)
(3,871)
I Non-current financial debt
3,183
3,176
J Debt instruments -
0 K Non-current trade and other payables -
0 L Non-current financial indebtedness (I+J+K)
3,183
3,176
M Total financial indebtedness (H+L)