2FIRSTS | Kumulus Vape2026 H1 Revenue Falls 8.3% but Profit Rises 24% as B2B Weakens and Consumer Channels Grow
Kumulus Vape's H1 2026 revenue dropped 8.3% to €25.5M due to B2B decline, but profit rose 24% on improved margins.Summary
Kumulus Vape, a French vaping company, reported consolidated revenue of €25.5 million for the first half of 2026, an 8.3% year-over-year decrease. The decline was driven by an 11% fall in its core B2B distribution revenue to €21.6 million, while B2C and store-network revenues grew by 5.6% and 17.8%, respectively. Despite the revenue drop, profitability improved: commercial margin expanded to 26.3% from 21.7%, gross operating surplus (EBE) increased 29.4% to €1.9 million, and net profit rose 24.1% to €0.8 million. The company attributed these gains to catalog optimization, logistics restructuring, and the ramp-up of Labster, its in-house production unit for proprietary brands launched in January 2026. For the second half of 2026, Kumulus Vape plans to expand Labster and the Cigaverte franchise network but has not provided specific full-year targets, highlighting pressure on B2B operations alongside growth in consumer channels.
(Source：2Firsts)
