ABC Arbitrage Reports Strong Half-Year Results and Interim Dividend

ABC arbitrage, a leading player in arbitrage strategies, reported strong financial results for the first half of 2026. The company’s consolidated results for the period stood at €26.0 million, marking a 47% increase from the previous year. The Group’s Annualised Return on Equity (ROE) for 2026 was 27.4%, significantly above the floor target of 10% and the historical average of close to 15%.

The Board of Directors, presided by Chairman Dominique Ceolin, met on September 17, 2026, to approve the financial statements. The context for the period saw a gradual increase in market volatility, with the VIX averaging around 18%, in line with its 15-year historical benchmark. Only 4.9% of trading sessions fell below the 15% threshold, a stark contrast to the 33.3% of sessions that did so over the previous three years. The escalation of the conflict between the United States and Iran in late February led to a broad defensive retreat in equity markets, resulting in a 25% increase in trading volumes.

The Group’s flagship funds, ABCA Opportunities and ABCA Reversion, delivered impressive returns of 18.2% and 20.2% respectively in the first half of 2026. These returns underscore the Group’s investment management excellence. With a Current operating income of €51.0 million, the Group’s results surpassed expectations, driven by the “double turbo” effect experienced in March and the confirmation of progress in medium-volatility regimes. The diversification of the Group’s strategies, combined with the dynamic management of leverage and risks initiated in late 2024, contributed significantly to this performance.

As part of the Momentum 2028 strategic plan, the Board of Directors decided to distribute an interim dividend of €0.20 per share for the 2026 financial year. Shareholders have the option to receive this dividend in cash or, for all or part of the amount due, in shares. The reinvestment price was set at €4.54 per share (ex-interim dividend), established after applying a 10% discount to the reference price determined in accordance with Article L. 232-19 of the French Commercial Code. The ex-dividend date has been set for November 24, 2026, with the option period for payment in shares running until December 7, 2026, inclusive. The payment of the interim dividend in cash and the crediting to accounts of the new shares delivered in payment of the interim dividend are scheduled for December 11, 2026.

Looking ahead, the Group expects markets to experience volatility close to their historical average in July, followed by a calmer August, despite ongoing geopolitical and economic uncertainties. As of August 31, 2026, the Group’s Business Activity Level stood approximately 90% above the 2025 monthly average. The ABCA Opportunities and ABCA Reversion funds had delivered respective performances of 26.0% and 36.8% since January 1, 2026, confirming their ability to thrive in various market configurations. As of September 1, 2026, client assets under management stood at €278 million, an increase of 13% over the period. The Group is in advanced discussions with several investors regarding new assets under management, with a total probability-weighted amount of approximately €500 million. The Group intends to transform the current momentum into sustainable growth and structurally strengthen the profitability of its activities across all market configurations.