Enersense International (ESENSE) Q1 2026 earnings summary

Executive summary

• Order book grew for the fourth consecutive quarter, reaching EUR 413 million, driven by strong market demand, customer trust, and new contracts in energy and data centre infrastructure.

• Underlying business profitability improved, with a focus on sustainability, strategic growth in critical infrastructure, and an increased EBITDA run rate target as the Value Uplift program nears completion.

• Strategic targets updated: CAGR target raised to 6–7% for 2025–2028, EBITDA margin target set above 7%, and net gearing target below 85%.

• Strategic focus sharpened on data centres, with a new dedicated unit and increased growth/profitability targets.

• Full-year adjusted EBITDA guidance maintained at EUR 19–23 million for 2026.

Financial highlights

• Q1 revenue was EUR 61.1 million, nearly flat year-over-year when excluding divested units, but down 12.4% overall.

• Adjusted EBITDA was EUR 1.5 million (margin 2.5%), down from EUR 2.2 million (margin 3.6%) in the prior year, which included a EUR 1 million provision release.

• Net gearing improved to 36.8% from 88.1% a year ago; equity ratio at 34.8%.

• Operating cash flow benefited from a one-time EUR 12.5 million decrease in VAT liabilities.

• EBIT was EUR -0.6 million, down from EUR 18.9 million, reflecting absence of prior year’s one-off gain.

Outlook and guidance

• Guidance for 2026 Adjusted EBITDA remains unchanged at EUR 19–23 million.

• Growth target for 2025–2028 raised to 6–7% CAGR, up from 4–5%.

• Market outlook in the Nordics remains favorable, especially for data centres, energy infrastructure, and telecom networks.