The board of directors of Esprinet spa has approved the half-yearly financial report as of 30 June 2026. The Vimercate (Monza) group, active in the wholesale distribution of IT products and technologies for the digital and green transition, closes the first six months with accounting revenues from contracts with customers amounting to 2,089.3 million euros, marking an increase of 8% compared to the 1,931.5 million in the same period of 2025.
In the second quarter of the year alone, sales reached 1 billion and 24.6 million euros (+6%). Leading the geographical growth is Spain (+21% on an annual basis to 866.2 million), flanked by the performances of Portugal (+37%) and Italy (+4%, to 1,363 million).
The performance of the divisions
From an operational point of view, the historic Esprinet division recorded a 9% increase in revenues for the screen category (computers, tablets and smartphones), driven by the renewal of operating systems towards Windows 11 and by preventive purchases by customers due to the shortage of memories on the market. The V-Valley division, focused on cloud, cybersecurity and advanced solutions for businesses, recorded an increase in sales of 13%, reaching 469.2 million euros. However, the most marked percentage growth comes from the green tech area of Zeliatech, which rose by 40% reaching 140.6 million euros in revenues.
Profitable for almost 5 million
The adjusted EBITDA for the first half of the year stood at 31.9 million euros, an increase of 27% compared to the 25.1 million euros at 30 June 2025. The figure calculated before extraordinary components includes non-recurring costs of 2.3 million euros, linked to the exit of the previous CEO and the reorganization of the management structure in the various offices. Adjusted net profit rose by 40% from 3.4 to 4.8 million euros, we read in a note. Operating costs grew by 4%, affected by the increase in personnel expenses (+6%) due to contractual adjustments and the entry into the company perimeter of the company Vamat bv, acquired in October 2025.
The net financial position
The net financial position closes at minus 325.5 million euros, highlighting substantial stability compared to the minus 327.5 million a year ago and an improvement on the negative 350.4 million recorded at the end of March 2026. The performance benefits from working capital dynamics in the presence of higher sales volumes. In light of the half-yearly results and the good performance of demand for infrastructure and artificial intelligence, the company has revised its profitability estimates upwards for the entire 2026 financial year, with an adjusted EBITDA now expected between 77 and 82 million euros.
Forecasts: adjusted Ebitda at 82 million
“The first half of 2026 confirms the group’s ability to continue continuously on its growth path, leveraging a diversified business model and a competitive positioning that allows us to seize the opportunities offered by the main technological transformation trends – remarks Giovanni Testa, CEO and general director of Esprinet -. We look to the second part of the year with confidence. The main development drivers of the sector, from artificial intelligence to the modernization of infrastructure, from cybersecurity to digital sovereignty, continue to offer significant opportunities consistent with our strategic directions. While maintaining the necessary attention to the evolution of the macroeconomic and geopolitical scenario, we believe that the diversification of activities, the presence in the various European markets and the complementarity of the three divisions allow us to effectively address the evolution of the context. The results achieved strengthen our determination to pursue medium-long term objectives and allow us to revise the 2026 guidance upwards, with an Adjusted EBITDA now expected between 77 and 82 million euros”.