Montigny Le Bretonneux, July 29, 2026
INTERIM 2026 REVENUE
- 29 % decline in activity on a like-for-like basis
- Constatation of a good commercial dynamic over the last few months
- Obtaining API Q2 certification
DOLFINES, an operational excellence consulting company, today announces its revenue for the 1st half of 2026.
The presentation of the DOLFINES Group's half-year revenue is based on the consolidated financial statements, which have not been reviewed by its statutory auditors.
| Million of euros | H1 2026 | H1 2025 | Change % | H1 2026 | H1 2025 restated | Change % | ||
| DOLFINES SA | 0.46 | 1.77 | ns | 0.46 | 0.81 | -43 % | ||
| DOLFINES Gulf Consultancy | 0.71 | (1) | ns | 0.71 | 0.96 | -26 % | ||
| Aegide International | 0.90 | 1.14 | -21 % | 0.90 | 1.14 | -21 % | ||
| 8.2 Advisory | 0.06 | 0.98(2) | ns | 0.06 | 0.18(3) | -67 % | ||
| DOLFINES Latam | 0.21 | 0.23 | -8 % | 0.21 | 0.23 | -8 % | ||
| Total | 2.34 | 4.12 | -43 % | 2.34 | 3.32 | -29 % |
1 The activity of DOLFINES Gulf Consultancy, a subsidiary created on 1st January 2026, was carried out by DOLFINES SA in the 1st half of 2025
2 Including audit activities of 8.2 Advisory from January to May 2025
3 Excluding activities Audit of 8.2 Advisory from January to May 2025
In the 1st half of 2026, DOLFINES' consolidated revenue was €2.34 millions, down 43 % compared to the 1st half of 2025.
On a comparable basis, excluding the Advisory business of 8.2 Advisory, which was sold on 1st June 2025 and therefore included in H1 2025 revenue for the first five months of the year, the decline was 29 %.
It should be noted that as of January 1, 2026, the turnover achieved by the Abu Dhabi Office is no longer included in the turnover of DOLFINES SA, but individualized in the newly created subsidiary DOLFINES Gulf Consultancy.
In terms of activities, this evolution can be analysed as follows:
- Stability in HSE activity at €1.14 million year-on-year,
- Drilling activity down 25 %, from €1.54 million to €1.14 million. As indicated at the end of April in the press release on the results of FY 2025, the ongoing conflict in the Middle East has resulted in postponements of investment decisions by some prime contractors and a lengthening of project approval cycles, affecting the pace of conversion of the commercial pipeline in the region. At the beginning of 2026, 75 % of the sales pipeline was focused on the Middle East region,
- The renewable energy business, which is no longer part of DOLFINES' strategic focus, generated very low revenue in the 1st half of 2026.
Perspectives
The orders signed by the DOLFINES Group during the 1st half of 2026 reflect solid commercial activity (see press release on commercial activity of July 1, 2026), although negatively impacted by the conflict in the Middle East. Since the beginning of the year, the Group has signed €2.54 million in new orders. The group's order book stood at €3 millions as of June 30, almost all of which is billable in the 2026 financial year.
Thus, for the month of July, nearly $500,000 should be invoiced for the drilling activity alone. More generally, DOLFINES has noted a favourable dynamic in terms of offers submitted and firm orders over the last few months. This trend reinforces the group's strategy of active geographical diversification in a changing geopolitical context and of improving commercial performance by reducing the time between the issuance of an offer and the customer decision.
As soon as operational and security conditions allow, the reconstruction of industrial and energy infrastructure destroyed by the ongoing conflict in the Middle East will result in a considerable need for technical expertise, safety engineering and inspection services, areas in which the Group has a recognized experience and an established presence in the region.
This perspective is reinforced by the recent award of API-Q2 certification to DOLFINES. This certification, established by the American Petroleum Institute (API) after a detailed audit, is the highest level of risk management certification for oilfield services.
About DOLFINES: www.dolfines.com
Founded in 2000, DOLFINES is an operational excellence consulting company, an independent specialist in engineering and services for the renewable and conventional energy industry. Faced with the challenges of decarbonizing the energy sector and capitalizing on its strong expertise, DOLFINES wants to play a key role in this energy transition by designing and providing innovative services and solutions for the exploitation of onshore and offshore renewable energy sources, above and below sea level.
Respecting the highest standards of quality and safety, DOLFINES is labeled an innovative company and certified API-Q2 and ISO 9001 for its technical assistance, audit, inspection and engineering activities.
DOLFINES is listed on Euronext GrowthTM - ISIN code: FR001400SP13- Ticker: ALDOL - DOLFINES is eligible for the PEA-PME
DOLFINES is eligible for the PEA-PME
Contacts: Delphine Bardelet Guejo, CFO - delphine.bardelet@dolfines.com
Disclaimer: This document contains forward-looking statements. These are likely to be affected by factors, known and unknown, difficult to predict and beyond the control of DOLFINES, which may cause results to differ materially from the outlook expressed, implied or implied by the Company's statements.
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