Productive Licensees sales declined 12.6 percent to €57.3 million. The company said it believes the pro form view provides a clearer view of the Group’s operating performance in the H1 period. Pro forma EBITDA amounted to €9.1 million in the first half, compared to €15.1 million in 2025 first half. The net loss of €11.1 million for the first half compared to net profit of €0.8 million in the first six months of 2025. Revenues for the year include the contribution of Woolrich Europe and Sundek which are not present in the comparative period.