SeSa (SES) Q3 2026 earnings summary

Executive summary

• Achieved consolidated revenue of €2,705.2 million for the nine months ended January 31, 2026, up 11.2% year-over-year and 7.5% versus pro forma figures, driven by strong organic growth and sector-wide improvements.

• EBITDA reached €191.1 million, up 11.5% year-over-year, with margin stable at 7.1%.

• Group EAT Adjusted rose 12.1% year-over-year, supported by higher operating profitability and lower financial expenses.

• Q3 2026 showed strong acceleration: revenue €1.1 billion (+10.5% YoY), EBITDA €77 million (+11.6% YoY), driven by digital transformation demand.

• Guidance for FY2026 confirmed at the upper end of the target range, reflecting resilient demand and disciplined execution.

Financial highlights

• 9M 2026 revenues: €2,705.2 million (+11.2% YoY reported, +7.5% YoY pro-forma); EBITDA: €191.1 million (+11.5% YoY), margin 7.1%.

• Group EAT Adjusted: €82.1 million (+12.1% YoY), margin 3.0%.

• Net Financial Position (NFP) at January 2026: €58.5 million net debt, improved by €33.7 million year-over-year after €41 million in dividends and buy-back.

• Shareholders’ equity at January 2026: €511.4 million, up from €500.8 million at April 2025.

• Net financial expenses declined by 14.4% year-over-year, reflecting lower interest rates and efficiency initiatives.

Outlook and guidance

• FY2026 guidance confirmed at upper end: revenues +5%/+7.5%, EBITDA +5%/+10%, Group EAT Adjusted +10%/+12.5% YoY.

• FY2026 targets: revenue ~€3.6 billion, EBITDA €260–265 million, EAT Adjusted €106–108 million.

• FY2027 outlook: revenues €3,700–3,880 million, EBITDA €265–291 million, Group EAT Adjusted €116–121 million.

• Growth to be driven by organic expansion in Business Services, ICT VAS, and Green VAS.

• Strong backlog and positive trends in all sectors support confidence for Q4 and FY2027.