Azelis stock reports 3.2 percent H1 revenue growth

Published on 10/07/2026 at 13:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Azelis stock was last quoted at EUR 11.57 on October 6, 2026, while the 52-week high stood at EUR 12.58. H1 EBITDA reached EUR 233 million.

Azelis, BE0974400328, Illustration mit AI erstellt.

Azelis Group N.V. (ISIN BE0974400328) was last quoted at EUR 11.57 on Euronext Brussels on October 6, 2026, down 1.20 percent from the previous close. The latest operating figures show revenue recovery and a sharper improvement in second-quarter earnings.

H1 revenue returns to growth

According to Yahoo Finance in the H1 2026 earnings transcript dated July 30, 2026, Azelis generated EUR 2.2 billion in first-half revenue, up 3.2 percent year over year in constant currency.

The result marks a change in quarterly momentum. Q2 organic revenue growth reached 4 percent after a decline in the first quarter, leaving first-half organic revenue stable. Adjusted EBITDA rose to EUR 233 million, an increase of 2.6 percent from the prior year, while the adjusted EBITDA margin stood at 10.7 percent.

Cash flow and regional risks

The earnings call also showed a split regional picture. Asia Pacific revenue increased 8.2 percent to EUR 428 million in the first half, while the Americas grew 2.3 percent to EUR 748 million. EMEA revenue reached EUR 990 million, up 1.7 percent through acquisitions but with a 4.6 percent organic decline.

Free cash flow was EUR 122 million in H1 2026, equal to a conversion rate of 52.3 percent versus 63.8 percent in the prior year. Net debt stood at EUR 1.6 billion at the end of June, producing leverage of 3.4 times. Management targeted positive full-year EBITDA growth, while softer EMEA demand and working-capital investment remain key factors for the second half.

Analysts see upside to target

Trivano lists 15 analysts for Azelis, with an average rating of Accumulate and an average price target of EUR 13.38. Its listed recommendations include Barclays at Equalweight with a EUR 13.00 target on September 24, 2026, and Deutsche Bank at Buy with a EUR 14.70 target on August 12, 2026.

At EUR 11.57, the stock stood 8.4 percent below the average target of EUR 13.38. The market valuation therefore depends on whether the return to organic growth can translate into stronger cash conversion and lower leverage.

Stock remains below yearly high

Azelis stock was last quoted at EUR 11.57 on Euronext Brussels on October 6, 2026. The price remained EUR 1.01 below the 52-week high of EUR 12.58, while the market capitalization stood at EUR 2.85 billion.