Fluidra reports lower first‑half profit, announces Hydrapo acquisition

Spanish pool‑and‑wellness group Fluidra posted a first‑half net profit of €126 million, down 7.1% from the same period a year earlier, while revenue rose 2.6% to €1.258 billion. The company said higher operating expenses and €22.8 million in one‑off severance costs tied to its efficiency plan drove the profit decline. Concurrently, Fluidra confirmed an agreement to acquire French pool‑chemical maker Hydrapo, which generates about €30 million in annual sales, strengthening its position in the French market. The transaction is subject to customary closing conditions and is expected to be finalised in January 2027.

Ahead of the results release, short‑seller activity intensified. AQR Capital Management disclosed short positions covering 0.5% of Fluidra’s shares, while Connor, Clark & Lunn Investment Management increased its short stake to 0.6%. Analysts at Barclays warned of a possible slowdown in U.S. sales, noting that Pool Corp – Fluidra’s major distributor in the United States – holds roughly 60% of its U.S. volume. These market pressures have left Fluidra as the worst‑performing stock on the Ibex in 2026.