Sfpi Group presents its half-year results for 2026
Return to growth and sharp rise in net profit
Paris, september 23rd 2026
The Board of Directors of Sfpi Group, which specialises in the protection of goods, people and the environment, met on 23 September 2026 and approved the condensed consolidated half-yearly financial statements as at 30 June 2026.
These consolidated accounts, covering the period from 1 January 2026 to 30 June 2026, have been subject to a limited review by our statutory auditors. Their report on the interim half-year financial information is currently being issued.
| in €m | 30/06/2026 | in % of sales | 30/06/2025 | in % of sales | Variation 2026/ 2025 (in %) |
|---|---|---|---|---|---|
| Sales | 316,1 | 306,1 | +3,3% | ||
| Incl. Sfpi Access / DOM1 | 125,7 | 119,4 | +5,3 % | ||
| Incl. Sfpi Home / MAC | 112,2 | 112,1 | +0,1 % | ||
| Incl. Sfpi Air / NEU JKF | 53,2 | 46,6 | +14,1% | ||
| Incl Sfpi Heat / MMD | 25,0 | 28,0 | -10,5% | ||
| Growth Margin | 196,2 | 62,1 % | 189,6 | 62,0 % | +0,1 pt |
| Incl. Sfpi Access / DOM | 70,1 % | 69,9 % | |||
| Incl. Sfpi Home / MAC | 55,0 % | 56,4 % | |||
| Incl. Sfpi Air / NEU JKF | 56,3 % | 56,0 % | |||
| Incl Sfpi Heat / MMD | 65,0 % | 60,4 % | |||
| Recurring operating income | 10,0 | 3,2 % | 5,0 | 1,6 % | +100% |
| Incl. Sfpi Access / DOM | 11,2 | 8,7 | |||
| Incl. Sfpi Home / MAC | -1,4 | -2,6 | |||
| Incl. Sfpi Air / NEU JKF | -0,6 | -3,5 | |||
| Incl Sfpi Heat / MMD | 2,2 | 2,4 | |||
| Operating Income | 10,0 | 3,2 % | 0,3 | 0,1 % | |
| Consolidated net income | 7,3 | 2,3 % | 0,1 | ||
| Group Share | 7,4 | 0,1 | |||
| Non controlling interest | -0,1 | - | |||
| Earning per share (in euros) | 0,08 | 0,00 |
Consolidated turnover as at 30 June 2026 stood at €316.1 million, up 3.3 % compared with the first half of 2025.
The gross margin remained high at 62.1 %, stable compared with last year.
Recurring operating income stands at €10.0 million, double the figure as at 30 June 2025.
Operating profit amounts to €10.0 million, representing a very significant improvement.
Net profit after tax stands at €7.3 million, compared with €0.1 million for the same period in 2025.
1 As a reminder, in the interests of clarity and readability, both internally and externally, Sfpi Group renamed its divisions in early 2026: DOM Security became Sfpi Access, NEU-JKF became Sfpi Air, MMD became Sfpi Heat and MAC became Sfpi Home.
On 30 June 2025, Group shareholders' equity amounted to €276.3m.
| in €m | 30/06/2026 | 31/12/2025 |
|---|---|---|
| Non-current Assets | 176,6 | 178,7 |
| Current Assets | 269,4 | 229,8 |
| Net Inventories | 129,1 | 113,8 |
| Receivables | 115,6 | 96,2 |
| Others | 24,7 | 19,8 |
| Cash and equivalents | 124,6 | 141,0 |
| Total | 570,6 | 549,5 |
| Equity | 276,4 | 276,0 |
| Incl. Group Share | 276,3 | 275,8 |
| Non current liabilities | 93,8 | 100,1 |
| Long-term financial debt | 29,6 | 33,5 |
| Lease debt | 10,0 | 11,8 |
| Other debts (employee benefit, lease IFRS16…) | 54,2 | 54,8 |
| Current liabilities | 200,4 | 173,4 |
| Short term financial debts | 16,7 | 16,2 |
| Short term lease (IFRS 16) | 6,3 | 6,3 |
| Payables | 68,4 | 57,8 |
| Other creditors and accrued liabilities | 55,6 | 46,1 |
| Others | 53,4 | 47,0 |
| Equity | 570,6 | 549,5 |
The financial position remains very strong. Sfpi Group has net cash of €120.8 million and a cash surplus, net of financial debt, of €78.3 million.
| in €m | 30/06/2026 | 31/12/2025 | Variation 2026/2025 |
|---|---|---|---|
| Non current financial debts (*) | (29,6) | (33,5) | +3,9 |
| Current financial debts (*) | (12,9) | (15,1) | +2,2 |
| Overdraft | (3,8) | (1,1) | (2,7) |
| Cash and cash equivalents | 124,6 | 141,0 | (16,4) |
| Net financial excess | 78,3 | 91,3 | (13,0) |
(1) inancial debts do not include lease debts IFRS 16
The simplified consolidated cash-flow statement is :
| in €m | 30/06/2026 | 30/06/2025 | Variation 2026/2025 |
|---|---|---|---|
| Cash Flow from Operating Activities | 3,8 | 5,7 | (1,9) |
| Cash flow used in Investment activities | (6,6) | (4,8) | (1,8) |
| Cash flow from (used in) Financing activities | (16,5) | (17,8) | +1,3 |
| Exchange effect | +0,1 | - | +0,1 |
| Cash flow | (19,2) | (16,9) | (2,3) |
Perspectives :
For the 2026 financial year, Sfpi Group expects to generate annual revenues of around €640 million.
Henri Morel, CEO and founder of Sfpi Group, said: “This first half of the year marks a clear improvement in our performance, with our recurring operating profit doubling against a backdrop of renewed growth in our businesses. The commitment of our teams and our cost control are paying off.
Our structure, organised around four areas of expertise, provides greater clarity for our Group and supports the ongoing transformation of our business. The strength of our balance sheet enables us to continue investing in our industrial facilities and in innovation to strengthen our competitiveness in the long term.
We are approaching the second half of the year with confidence and vigilance, whilst maintaining our annual turnover forecast of around €640 million. Our priority remains to ensure that the improvement in our profitability is sustainable.”
Find the presentation as on june 2026, effective September 24th, 2026 on www.finance.groupe-sfpi.com
Next communication: 2026 turnover published at the end of February 2027
ID
Ticker : SFPI
Code ISIN : FR0004155000
Contacts :
Nicolas LOYAU
Tel. : +33 1 46 22 09 00
Email : nicolas.loyau@groupesfpi.com
About Sfpi Group
The Sfpi Group designs and develops technical and technological solutions that enhance the security of buildings, living and working spaces, and industrial processes. Organised around four areas of expertise – Sfpi Access, Sfpi Home, Sfpi Air and Sfpi Heat – the group works every day to create a safer, healthier and more resilient world.
Sfpi Group. Safety for people and industry
Notes
- As a reminder, in the interests of clarity and readability, both internally and externally, Sfpi Group renamed its divisions in early 2026: DOM Security became Sfpi Access, NEU-JKF became Sfpi Air, MMD became Sfpi Heat and MAC became Sfpi Home.