Skandia GreenPower (SKAND) Q1 2026 earnings summary

Executive summary

• Revenue and EBITDA in line with forecasts, with stable operations in Q1 2026.

• EBITDA reached 8.1 MNOK and net result was 3.3 MNOK, both up year-over-year from 7.5 MNOK and 2.9 MNOK respectively.

• Customer base declined to 53,202 from 54,075 in Q4, attributed to new order routines.

• Dividend of NOK 0.045 per share paid in March 2026; plan to distribute 90% of net result semi-annually continues.

• Ongoing exploration of M&A and strategic opportunities to enhance shareholder value.

Financial highlights

• Gross revenue surged to 350.6 MNOK in Q1 2026 from 196.1 MNOK in Q1 2025, driven by higher electricity prices.

• Net revenue was 16.0 MNOK, a slight decrease from 16.9 MNOK year-over-year.

• EBITDA increased to 8.1 MNOK from 7.5 MNOK in Q1 2025.

• Net result after tax was 3.3 MNOK, up from 2.9 MNOK in Q1 2025.

• Operating expenses and cost of goods sold rose in line with revenue growth.

Outlook and guidance

• EBITDA for 2026 is guided at 32 MNOK, with Q1 performance tracking as expected.

• Customer target set at 100,000 by year-end 2026, with focus on profitable growth over volume.

• Implementation of consolidated billing (gjennomfakturering) expected to boost competitiveness and customer retention.

• Dividend guidance for 2026 is NOK 0.095 per share, a 46.2% increase over 2025.

• Revenues in Q1 2026 were fully in line with previous guidance.