Icape (ALICA) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 revenue reached €51.5 million, up 2.2% year-over-year and 4.6% sequentially from Q4 2025, with organic growth of 10.6% at constant exchange rates.

• Backlog hit a record USD 78.4 million, up 39.2% year-over-year and 14% from Q4 2025, reflecting strong customer demand and long-term partnerships.

• Growth was driven primarily by volume, despite rising production costs and currency headwinds.

• The company confirmed all 2026 targets and continues to focus on automation and process improvements, including AI-driven tools.

Financial highlights

• Q1 2026 revenue increased 2.2% year-over-year and 4.6% sequentially; organic growth at constant currency was 10.6%.

• Backlog at end of March 2026 was €68.2 million, up 30.9% year-over-year and 16.5% sequentially.

• Invoiced order backlog in USD reached $78.4 million, up 39.2% year-over-year.

Outlook and guidance

• 2026 organic revenue growth targeted between 6% and 8%, assuming no further currency depreciation.

• Additional €120 million in revenue expected from external growth by end of 2026, including €92 million from the TEKUBE acquisition.

• EBIT margin rate for 2026 expected around 6%, factoring in cost reductions, synergies, and site closures.

• All 2026 annual targets confirmed.