Net loss narrowed to €72.8 million ($84.7 mm) in the second quarter from a loss of €247.0 million a year ago, as revenues slipped by 10% to €1,690.6 million ($1,965.8 mm) from €1,871.3 million, or a 9% drop in constant currency. The Big Cat’s turnaround is well underway, CEO Arthur Hoeld reported, including clearing obsolete inventory, right-sizing to optimize the cost base, and improving the organizational setup. Sequential improvement is coming in the second half of the year, but a return to growth will have to wait until 2027.

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