Cantourage Group SE Shows Quality Earnings Growth in Q2 2026

Cantourage Group SE has demonstrated a positive shift in earnings quality, as revealed in its Q2 2026 results. Although sales dropped 21.9% year-on-year to €21.8 million, this was a strategic move to exit low-margin German volumes, allowing EBITDA to increase 45% year-on-year.

Significant geographic diversification marked this quarter with Germany's contribution to total sales dropping to 46%, and the UK market growing by 146% year-on-year. This rebalancing reduces risk exposures tied to the German market's price cycle. Other markets like Poland also experienced growth.

Cantourage's focus on premium products is paying dividends, with gross margins expanding by 7.9 percentage points to 36.4%. With a BUY rating and a target price of €10.50, the company's valuation remains attractive, supported by a rising EBITDA margin.