Half Year 2026 Teleperformance SE Earnings Call Transcript
Key Points
- Sequential revenue improvement in Q2 2026, with like-for-like growth improving from -2.2% in Q1 to -1.2% in Q2.
- Stable EBITA margin in H1 2026 compared to H1 2025, driven by cost control and AI efficiency programs.
- Strong free cash flow generation of EUR299 million before restructuring costs, up from the prior year.
- Robust growth in AI data services and outcome-based revenue lines, such as revenue-as-a-service.
- Increased profitability in specialized services, with a 300+ basis point margin improvement from internal synergies.
- Overall like-for-like revenue declined 1.7% in H1 2026, impacted by weakness in the Trust and Safety vertical.
- Trust and Safety revenue continues to soften due to AI automation and client shifts to offshore locations.
- Americas region margins declined due to macroeconomic headwinds in Colombia, including currency appreciation and wage inflation.
- Restructuring costs increased to EUR109 million in H1 2026, with full-year guidance raised to EUR120-140 million.
- Core services growth remains negative at -1.3% like-for-like in H1, though improving sequentially.
Welcome to TP 2026 First Half Results Conference Call. (Operator Instructions) Now I will hand the conference over to Jorge Amar, CEO. Please go ahead.
Excellent. Good morning, good afternoon, good evening from wherever you are joining us. Welcome to the Q2 and the first half results update call for TP. Today, I'm joined again by our interim CFO, Benoit Gabelle. And without further ado, I will jump straight into the key messages for today. And of course, we will be happy to take the questions at the end of the presentation.
So with that, as always, our remarks in terms of the representation of our financial figures. And with that, I'll go straight into the key highlights for us. So we are very excited given the results that we come today to share with you. So the first one, it is a sequential improvement quarter over quarter on our like for like revenue, going from minus 2.2% in Q1 where I last talked to you all to minus 1.2% in the second quarter.
And we're going to
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