Eurowag reported first-half 2026 net revenue of €179.5 million, up 10.7% year over year, as the commercial road transport payments and mobility platform maintained double-digit growth and continued reducing leverage.
Adjusted EBITDA increased 10.5% to €70.6 million, representing an adjusted EBITDA margin of 39.3%. Adjusted cash EBITDA increased from €49.2 million to €55.7 million, while net leverage improved to 1.8x from 1.9x at the end of fiscal 2025.
Adjusted basic earnings per share was 2.53 euro cents, down 13.4%, while capitalized research and development investment increased 17.3% to €21 million.
Recurring revenue, including toll and subscription products, increased 13.8% to €84.7 million and represented approximately 47% of group net revenue.
Eurowag also made further progress integrating services into its Eurowag Office platform. A majority of services are now available through the platform, including integrated toll services, and more than 65% of customers are actively using Eurowag Office, compared with approximately 35% at the end of March.
The company provides payments, toll, tax refund, fleet management, navigation, work-time management and other services for commercial road transportation operators across Europe.
Eurowag reiterated its 2026 guidance for low-double-digit net revenue growth and an adjusted EBITDA margin of approximately 40%. Net leverage is expected to remain below 2x, while the outlook for adjusted cash EBITDA was tightened upward to €110 million to €115 million from €105 million to €115 million.
