Q2 26: Strong quarter in the books, strongest H1 EPS since 2022

H1 26 EBITDA nearly doubled to € 41.1m (margin +9.8pp to 21.4%), strongest H1 EPS since 2022. FY26 guidance of € 100m oper. EBITDA looks rather conservative (eNuW € 105m). Confirming BUY at a PT € 22.