Delimobil H1 2026: Revenue Declines but EBITDA Rises on Cost Focus

Delimobil reported H1 2026 revenue of RUB 7,550m, down 8.7% year-on-year, while EBITDA rose 14.0% to RUB 2,139m, reflecting a continued focus on cost efficiency. Net loss narrowed to RUB 664m from RUB 709m in the prior-year period. Revenue growth decelerated sharply from +6.0% in H2 2025 to -8.7% in H1 2026, while EBITDA growth accelerated from +47.3% to +14.0% (though still positive).

H1 2026 YoY Growth (%)

What drove the result

The revenue decline was driven by a challenging operating environment, while EBITDA growth indicates successful cost management and operational leverage. The net loss narrowed slightly, suggesting improved profitability despite lower top-line. The company continues to invest in fleet and technology, but the focus on EBITDA suggests a disciplined approach to capital allocation.

Key figures (RUB m)

Outlook

With revenue declining but EBITDA expanding, Delimobil appears to be prioritizing profitability over growth. The company's ability to sustain EBITDA growth in a soft revenue environment will be key. Watch for continued cost discipline and any signs of stabilization in revenue trends. Net debt rose during the period, which may constrain future investments.