Italiaonline SpA, leader in Italy in media, tech and digital services for the B2B and B2C market, announces the results for the first half of 2026 which confirm the success of the industrial transformation process started in recent years and consolidate its primacy in the digital market.
With a customer base of over 100 thousand business customers, 470 thousand consumer and SOHO customers, 10 million active emails and an audience of 29 million unique users per month, the Group consolidates its leading position in the digital market and lays the foundations for future growth.
Growth in revenues, margins and cash flow in the first half of 2026
In the first half of 2026 the Group recorded growth in all the main economic-financial indicators:
| Data in millions of euros | 1H 2026 | 1H 2025 | Var. |
| Revenues | 150 | 140 | +7% |
| EBITDA | 25 | 20 | +24% |
| EBITDA margin | 16.6% | 14.3% | +2.2 pp |
| EBIT | 13 | 9 | +48% |
| Net result | 9 | 4 | +119% |
| Operating Free Cash Flow | 20 | 7 | +186% |
| Net debt | 14.6 | 51.7 | -71.8% |
- Consolidated revenues: reach 150 million euros, up 7% compared to 140 million euros in the first half of 2025. The growth is widespread across the various revenue lines, including: the Media & Tech business line reaches 51.3 million euros (+31%), driven by Platform Services (29 million euros, +65%) and Digital VAS value-added services (6 million euros, +20%); the Web & Communications Solutions business line, dedicated to custom services for Italian SMEs, reached 8 million euros (+6.5%).
- EBITDA: rises to 25 million euros, +24% compared to 20 million euros in the first half of 2025. The EBITDA margin stands at 17%, up by more than 2 percentage points, confirming the Group’s operating leverage.
- Operating Free Cash Flow (OpFCF): accelerates to 20 million euros (+186%) compared to 7 million euros in the first half of 2025, with a conversion rate of EBITDA into cash of 80%.
- Net financial position: net debt reduces to 14.6 million euros or 0.3x the LTM (Last Twelve Months) EBITDA, compared to 51.7 million euros at 30 June 2025, confirming a solid financial profile and broad strategic flexibility.
From Legacy Player to AI Digital Champion
The results of the first half of 2026 are the result of the process of transformation of the offer, technologies and organization carried out in recent years, which is based on three pillars:
- Media & Tech: Italiaonline is the leading Italian email operator, with over 10 million active email boxes, and the leading pure digital Media player in Italy for unique monthly users, equal to approximately 29 million, equivalent to 66% of the national digital reach. The combination of first-party data and proprietary Adv technologies – starting with the new programmatic advertising platform EasyBid – positions the company in a unique and distinctive way in the post-cookie and AI search era.
- SME Digital One-Stop-Shop: an end-to-end offering for over 100 thousand business customers, enriched by the pervasive integration of generative and agentic AI, from web development to AI-driven marketing, up to the MARiO voice AI assistant.
- Digital Factory: the transversal integration of AI into internal delivery, IT and customer care processes has reduced the cost per unit of service, improved delivery times and increased operational productivity. This is demonstrated by the over 40 thousand sites and 190 thousand social posts managed.
“We look to the future with great confidence”
Roberto Giacchi, CEO of Italiaonline SpA, commented:
“The data for the first half of 2026, growing on all the main economic-financial indicators, make us particularly proud of the path that, as a Group, we have pursued in recent years. The industrial strategy implemented has made Italiaonline an AI digital company, with an international presence in Ad Tech which has become significant and today among the main drivers of our growth in this first half of the year. These results arise from a diversified revenue base across multiple customer segments and multiple lines of offer, from a commercial machine omnichannel, from a proprietary technological platform and from a management team of great quality and unity of purpose. All this allows us to look to the future with great confidence.”
