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SRV Yhtiöt (SRV1V) investor relations material
SRV Yhtiöt Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Order intake of €395.4 million in Q1 2026, the highest of the decade, lifted the order backlog above €1 billion, setting up a strong second half of the year.
Revenue for Q1 2026 was €140.6 million, down 12.9% year-over-year, with results expected to improve later in 2026 as new projects begin to generate revenue.
Operative EBIT was -€0.3 million, impacted by lower non-residential construction volumes, while residential construction margins improved slightly.
Market conditions remain challenging but present opportunities, especially in public sector and data center construction.
Financial highlights
Q1 2026 revenue was €140.6 million, down from €161.4 million year-over-year (-12.9%).
Operative EBIT for Q1 was -€0.3 million (Q1 2025: €1.1 million); net profit was -€1.6 million.
Order backlog at the end of Q1 was €1,030.5 million.
Cash flow from operations and investments was -€32.7 million, impacted by seasonal business and project advances.
Financial reserves stood at €114.6 million at quarter-end.
Outlook and guidance
2026 revenue is now expected to exceed €800 million, revised up from previous guidance of €650–750 million.
Operative EBIT is forecast to surpass the 2025 level of €6.8 million.
Earnings will be weighted toward H2 2026 as new and developing projects ramp up.
Strong order backlog and pipeline of unbooked projects (~€1.3 billion) support a positive outlook for the remainder of 2026.
- 2025 profit rose on asset sales despite lower revenue, with strong liquidity and improved equity.SRV1V
Q4 202511 Feb 2026 - Financial targets delayed to 2029-2030; growth focus shifts to in-house project development.SRV1V
Investor Update5 Nov 2025 - Revenue and profit fell, but reserves and equity ratio improved, supporting future readiness.SRV1V
Q3 202523 Oct 2025 - Revenue up 22%, profit positive, but 2025 outlook cautious amid weak housing demand.SRV1V
Q4 202410 Sep 2025 - Revenue and profit declined, but liquidity and balance sheet remain strong.SRV1V
Q2 20258 Aug 2025 - Revenue and profit improved, but weak private demand and high rates pose risks.SRV1V
Q3 202413 Jun 2025 - Revenue and profit rose in H1 2024, with a strong order backlog despite weak housing demand.SRV1V
Q2 202413 Jun 2025 - Stable profit and strong order backlog despite revenue decline and market uncertainty.SRV1V
Q1 20255 Jun 2025
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