Eurocash (EUR.WA): 2Q26 Results Preview: Low visibility due to pending major business restructuring

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17 Aug 2026 11:18:15 ET │ 10 pages

Eurocash (EUR.WA)

2Q26 Results Preview: Low visibility due to pending major business

restructuring

CITI'S TAKE

Eurocash is scheduled to report its 2Q26 results on August 27, likely

before the market opens. We forecast a net loss of ZL 39.5m (compared to

a net loss of ZL 13.5m in 2Q25 and ZL 86.4m in 1Q26), with sales reaching

ZL 7.17bn (-9% YoY), EBITDA of ZL 134m (-42% YoY), and EBIT of ZL 24m

(-71% YoY). Our estimates are above the PAP consensus at the EBIT and

net profit levels while being slightly below consensus on Sales and

EBITDA, and we expect like-for-like (LFL) sales to be negative. We note

that forecasting Eurocash's performance in 2Q26 is extremely challenging

and subject to a potentially large margin of error due to the company's

significant pending business restructuring.

Neutral / High Risk

Price (14 Aug 26 17:00)

Zl4.92

Target price

Zl6.00

Expected share price return 22.0%

Expected dividend yield

0.0%

Expected total return

22.0%

Market Cap

Zl685M

US$184M

Rafal Wiatr, CFAAC

Figure 1. Eurocash - 2Q26 Results Preview

© 2026 Citigroup Inc. No redistribution without Citigroup's written permission.

Source: Citi Research, PAP