Elumeo SE Reports Profitability for H1 2026 Amid Market Challenges

Berlin-based elumeo SE, Europe's leading online retailer of gemstone jewellery, confirmed its return to profitability in the first half of 2026. Despite a 3.8% dip in revenues compared to last year, falling to EUR 19.5 million, the company's restructuring and cost-cutting measures led to a positive adjusted EBITDA of kEUR 20, a significant shift from kEUR -478 in H1 2025.

The restructuring program and efficiency measures reduced sales and administrative expenses by 4.8% to EUR 10.2 million, with personnel costs seeing a 13.1% reduction. The company emphasizes profitability and scalability over revenue growth, increasing gross profit per new customer by 19% to EUR 74.

In addition, elumeo SE filed a claim for damages against Vodafone for excessive feed-in fees over 14 years, potentially supporting future growth and profitability. Management confirmed their 2026 forecast, expecting revenue changes between -7% and +10%.