Enento Group (ENENTO) Q1 2026 earnings summary

Executive summary

• Achieved growth across all segments in Q1 2026 despite challenging market conditions, with profitability improving year-over-year.

• Sweden returned to growth after a prolonged decline, with significant profitability improvement; Norway & Denmark delivered strong margin gains.

• Transitioned to a country-based organization and reporting structure, restructuring management and segment reporting to enhance commercial accountability and performance.

• Initiated change negotiations in Finland and Sweden, potentially reducing up to 60 FTEs to support strategy execution and operational efficiency.

• AI adoption advanced across the service portfolio, driving smarter services, data, and operations.

Financial highlights

• Net sales grew by 5.1% year-over-year to EUR 39.6 million, with growth in all reporting segments.

• Adjusted EBITDA increased by 8.5% to EUR 13.5 million, with margin expanding to 34.1%.

• Free cash flow rose 59.4% to EUR 11.1 million, supported by strong cash conversion at 90%.

• Adjusted EPS rose to EUR 0.31 per share.

• Cash at hand was EUR 21.2 million; net debt to Adjusted EBITDA at 2.5x.

Outlook and guidance

• Guidance reiterated: net sales growth of 0%-5% and increase in Adjusted EBITDA for 2026 at comparable exchange rates.

• Business volumes have stabilized, providing a solid base for the year despite ongoing macroeconomic and geopolitical uncertainties.

• Regulatory changes in Sweden, especially for loan brokers, present potential risks, with key deadlines in June.