Christian Tour delivers profitable growth in H1 2026, with EBITDA up 24% and record first-half booking sales

• Christian Tour recorded RON 184.7 million in total revenues in H1 2026, up 12% year-over-year, while EBITDA increased by 24% to RON 9.8 million and net profit advanced by 15% to RON 6.3 million.

• Sales at booking date reached a record RON 460.1 million for a first half, up 8%, while average revenue per passenger increased by 18% to EUR 505, reflecting a higher average value of holidays booked during the period and focus on development of categories circuits, exotic destinations and specialized travel experiences.

• Growth was led by Groups & Experiences, up 18%, while Packages, Christian Tour’s largest segment, increased by 9%.

• Christian Tour ended H1 2026 with RON 182.6 million in cash and no outstanding bank borrowings, while advancing the digitalization, customer loyalty and M&A priorities presented to investors at IPO.

• In 2026, Christian Tour targets RON 1.042 billion in sales at booking date, RON 843.0 million in IFRS revenue, RON 46.3 million EBITDA and RON 33.2 million net profit.

Christian ’76 Tour S.A. (“Christian Tour” or the “Company”), one of Romania’s leading integrated tourism platforms and the first Romanian tour operator listed on the Bucharest Stock Exchange, announces strong financial and commercial performance in the first half of 2026. Total revenues increased by 12% year-over-year to RON 184.7 million, while EBITDA advanced at a faster pace, by 24%, to RON 9.8 million, resulting in an EBITDA margin of 5.3%, compared with 4.8% for H1 2025. Net profit reached RON 6.3 million, up 15%.

Cristian Pandel, Founder and CEO of Christian Tour, stated: “Our first results as a listed company demonstrate the strength of Christian Tour’s business and, above all, the ability of our team to execute in a demanding environment. Despite inflationary pressure, geopolitical uncertainty and higher costs across the travel industry, we delivered record first-half booking sales, while EBITDA grew twice as fast as revenues. This performance is the result of the work done across the entire organization – from managing capacity and developing the right products to adapting our commercial approach and controlling costs – and shows our ability to respond quickly to changing customer preferences and continue growing profitably in a challenging market.”

Commercial performance remained strong despite a more challenging operating environment. Sales at booking date reached a record RON 460.1 million for a first half, increasing by 8% year-over-year, while average revenue per booking rose by 18% to EUR 505.  The increase in average transaction value more than offset lower passenger and booking volumes, supported by the Company’s ability to adapt its commercial mix toward higher-value travel categories, including organized circuits, exotic and long-haul destinations and specialized travel experiences.

Packages remained Christian Tour’s largest business segment in H1 2026, generating booking-date sales of RON 331.5 million, up 9% year-over-year, and representing approximately 72% of total booking-date sales.  Groups & Experiences recorded the strongest organic growth, with booking-date sales increasing by 18% year-over-year to RON 72.8 million, supported by demand for organized circuits, exotic and long-haul destinations and other higher-value experiences. Flights, Bus & Accommodation remained broadly stable at RON 50.3 million, while Other segments decreased 44% to RON 5.5 million as the Company continued to prioritize profitable growth in its core activities rather than pursuing volume in lower-margin categories.

“The first half demonstrates one of the strengths of our model: we are not dependent on a single travel category to grow. We saw particularly strong demand for circuits, exotic destinations and other higher-value experiences, and we deliberately prioritized profitability over volume in lower-margin activities. The product mix changes naturally during the year, with the second half weighted more heavily toward high-volume traditional summer packages. Our ability to move between these categories, while managing pricing, capacity and profitability, is an important competitive advantage for Christian Tour,” added Cristian Pandel.

Christian Tour generated RON 76.8 million in net cash from operating activities during H1 2026, reflecting the seasonal cash-flow dynamics of the business ahead of the peak summer travel period. Separately, the Company’s financial position strengthened significantly following the IPO. As of June 30, 2026, Christian Tour had RON 182.6 million in cash and cash equivalents and no outstanding bank borrowings, resulting in a net cash position of approximately RON 143.7 million, compared with net debt of approximately RON 38.7 million at the end of 2025. At the same date, the Company had RON 265.6 million in contract liabilities, largely representing customer advances for travel services yet to be delivered, providing visibility over activity and revenue recognition during the second half of the year.

Christian Tour also continued to advance the growth priorities presented during the IPO. In digitalization, the Company continued to develop its digital ecosystem, with the flight module scheduled for launch in Q3 2026, while dynamic packaging capabilities, an AI-assisted Trip Builder and the Hello Romania domestic tourism platform are expected to enter testing during Q4 2026. In customer loyalty, Travel Prime reached approximately 2,000 active subscribers, with members generating approximately EUR 8.3 million in cumulative sales since joining the program. In M&A, Christian Tour is currently in active discussions with three potential targets, spanning both core tourism and complementary businesses. Management’s objective is for the first transaction to materialize before the end of 2026, subject to the successful completion of the relevant transaction processes.

Christian Tour’s performance in the first half of the year also reflects the continued resilience of Romanian demand for international travel despite pressure on household purchasing power. According to data published by the National Bank of Romania, Romanians spent EUR 4.88 billion on travel abroad during the first six months of 2026, approximately 18% more than in the same period of 2025. Christian Tour responded to this demand through a diversified product portfolio and an increased focus on higher-value travel categories.

For the full year 2026, Christian Tour targets RON 1.042 billion in sales at booking date, RON 843.0 million in IFRS revenue, RON 46.3 million in EBITDA and RON 33.2 million in net profit. The targets reflect management’s expectations for another year of profitable growth, with the majority of annual activity and financial performance concentrated in the second half of the year.