Cantourage Group SE increases EBITDA by 45 percent in the second quarter of 2026 – strategic focus on high-margin business pays off

• Gross margin rises to 36.4% and EBITDA margin to 13.1%
• Premium strategy in Germany leads to significantly improved earnings quality
• United Kingdom and Poland deliver strong growth and increasing importance
• Strong balance sheet with a 71.3% equity ratio and EUR 9.3 million net cash

Berlin, 13 August 2026 – Cantourage Group SE (“Cantourage”, ISIN: DE000A3DSV01), a leading European medical cannabis company, significantly increased its profitability in the second quarter of 2026. EBITDA rose by 45% year-on-year to EUR 2.9 million, despite revenue declining by around 22% to EUR 21.8 million as a result of the strategic refocusing of the German business. The EBITDA margin improved from 7.0% to 13.1%, while the gross margin increased from 28.5% to 36.4%.

This development confirms the company’s strategic direction: in Germany, the focus is on higher-margin premium products and earnings quality, while the United Kingdom and Poland are becoming increasingly important on the back of high growth rates. Cantourage is thus consistently advancing its development into a European specialty pharma platform for medical cannabis.

Profitability significantly increased in the second quarter

Revenue amounted to EUR 21.8 million in the second quarter of 2026, compared with EUR 27.9 million in the prior-year quarter. At the same time, Cantourage significantly improved profitability: the gross margin increased by 7.9 percentage points to 36.4%. Despite lower revenue, EBITDA rose from EUR 2.0 million to EUR 2.9 million, an increase of 45%. The EBITDA margin increased by 6.1 percentage points to 13.1%.

Q2 key figures at a glance

in EUR million Q2 2025 Q2 2026 Change Revenue 27.9 21.8 -21.9% Gross margin 28.5% 36.4% +7.9 pp EBITDA 2.0 2.9 +45.0% EBITDA margin 7.0% 13.1% +6.1 pp

Germany: Premium strategy strengthens earnings quality

In the German market, Cantourage is consistently focusing on higher earnings quality. Revenue amounted to EUR 10.1 million in the second quarter of 2026, compared with EUR 23.3 million in the prior-year quarter.

A key driver of this development is the strategic focus of the flower business on higher-margin premium products, combined with a reduction in low-margin trading business. Cantourage is therefore prioritising sustainable profitability over pure revenue volume.

This strategy is supported by the company’s own brand GRAMZ., newly launched in the German market in the second quarter, which recorded strong demand shortly after its launch: initial batches sold out within a short period of time, while the brand has already generated revenue of more than half a million euros. The launch of GRAMZ. is also part of Cantourage’s innovation strategy, under which further innovative product formats are being developed, some of which are already in the testing phase.

United Kingdom and Poland become significantly more important

In parallel with the refocusing of the German business, the international business is developing dynamically.

In the United Kingdom, Cantourage revenue in the second quarter of 2026 rose from EUR 3.9 million to EUR 9.6 million versus the prior year, demonstrating a growth rate of 146%. The United Kingdom thus already reached almost the revenue level of the German business. Poland also recorded strong development, with revenue increasing from EUR 0.6 million to EUR 2.1 million, a rise of 250%.

As a result, Cantourage’s revenue profile is changing significantly. While Germany still accounted for around 84% of Group revenue in the prior-year quarter, more than half of revenue in the second quarter of 2026 was already generated in markets outside Germany. This development underscores the increasing geographical diversification of the business model and reduces dependence on individual markets.

Strong balance sheet creates flexibility for further growth

Cantourage has a solid financial foundation. As of 30 June 2026, the equity ratio stood at 71.3%. At the same time, the company had a net cash position of EUR 9.3 million, compared with EUR 1.9 million in the prior-year period.

Philip Schetter, CEO of Cantourage Group SE: “The second quarter clearly shows that our strategy is working. Despite lower revenue, we increased EBITDA by 45 percent and raised the EBITDA margin to 13.1 percent. In Germany, we are consistently focusing on high-margin premium products rather than revenue growth at any cost. At the same time, the United Kingdom and Poland are growing very dynamically and are becoming significantly more important to us. Together with our strong balance sheet, this development demonstrates that our business model is internationally scalable and that we have an excellent foundation for further developing Cantourage as a European platform.”

Contact:
Manuel TAVERNE
ir@cantourage.com

The half-year financial figures presented herein have neither been audited nor reviewed and have been prepared with the greatest possible care.

About Cantourage

Cantourage is a leading European company for the manufacture and distribution of medical preparations and pharmaceutical products based on cannabis. With an experienced management team and its “Fast Track Access” platform, Cantourage enables producers from around the world to enter the growing European medical cannabis market faster, more easily and more cost-effectively by processing and distributing their cannabis raw materials and extracts. In doing so, Cantourage consistently ensures compliance with the highest European pharmaceutical quality standards. The company offers pharmaceutical-grade products across all relevant market segments: dried flower, extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on 11 November 2022 – DE000A3DSV01 (ISIN).