BEWi (BEWI) Q1 2026 earnings summary

Executive summary

• Achieved significant operational improvements, strengthening earnings capacity and delivering sustainable positive results from implemented measures.

• Net sales rose 5.7% year-over-year to EUR 198.6 million, driven by volume growth in all segments and operational improvements.

• Adjusted EBITDA increased 44% to EUR 22.2 million, reflecting higher volumes and cost optimization.

• All segments—Insulation & Construction, Packaging & Components, and Circular—reported volume growth.

• Strategic investments and efficiency measures contributed to a structurally stronger earnings baseline.

Financial highlights

• Net sales reached EUR 198.6 million, up 5.7% year-over-year for Q1 2026.

• Adjusted EBITDA rose to EUR 22.2 million, a 44% increase year-over-year, with an adjusted EBITDA margin of 11.2%, up 3.0 percentage points.

• EBIT improved to EUR 1.5 million from -2.9 million in Q1 2025.

• Net result from continued operations was EUR -7.4 million, an improvement from EUR -12.4 million in Q1 2025.

• Cash and cash equivalents at EUR 59 million, plus EUR 75 million available credit facility.

Outlook and guidance

• Clear path to achieving a 15% EBITDA margin through operational improvements, renegotiated supplier agreements, and increased efficiencies.

• Inventory secured at favourable prices; significant reduction expected in Q2 to support cash generation.

• Positioned for growth with expanded vertical integration and increased production capacity, especially in automotive OEM projects.

• Well positioned to manage volatility in raw material, energy, and logistics markets.

• Market trends indicate 6% CAGR in new build residential construction and 5-7% CAGR in automotive, supporting future growth.