Sentia (SNTIA) Q1 2026 earnings summary

Executive summary

• Revenue increased by 12.7% year-over-year to MNOK 3,195 in Q1 2026, reflecting solid growth and increased activity in both Norway and Sweden.

• Earnings before tax rose to MNOK 172, up from MNOK 114 in Q1 2025, indicating improved profitability with a 51% increase.

• Both HENT and Sentia Sweden delivered positive development, with robust order intake and significant new contracts in Norway and Sweden.

• Order backlog remained high and stable at MNOK 18,281, with 70% exposure to public sector clients and limited residential market risk.

• Strong financial position with net financial position at MNOK 4,244, supported by high cash and cash equivalents.

Financial highlights

• EBIT for Q1 2026 was MNOK 144, with an EBIT margin of 4.5%, up from 3.6% in Q1 2025.

• Cash flow from operations was MNOK 121, a significant improvement from negative MNOK 260 in Q1 2025.

• Equity ratio increased to 25.2% from 18.9% year-over-year.

• Return on capital employed reached 34.6% for the rolling 12 months.

• Earnings per share for Q1 2026 was NOK 1.32, up from NOK 0.88 in Q1 2025.

Outlook and guidance

• Solid momentum expected to continue with several new projects in production phases.

• Construction market in Norway and Sweden is in early recovery, with expected volume growth of 4.1% and 4.5% respectively in 2026.

• Renovation and maintenance (R&M) market is a key growth area, overtaking newbuilds in market share.

• Public sector and large capital-intensive projects are expected to drive growth; residential market remains subdued.

• Interest rate uncertainty may moderate pace of recovery, but strong order backlog and financial position support continued growth.