Maire (MAIRE) investor relations material

Executive summary

• Achieved a strong start to 2026 with robust operational performance across all geographies, especially in the Middle East, and effective management of operational complexities, resulting in uninterrupted project execution.

• Q1 2026 revenues rose 7.6% year-over-year to EUR 1.84 billion, with EBITDA up 15.7% to EUR 131.2 million and net income up 19.9% to EUR 76.7 million.

• Order intake reached EUR 4.8 billion, surpassing half of the FY 2026 target, and backlog grew to EUR 15.7 billion, providing over two years of production visibility.

• Paid a record EUR 187.6 million dividend and maintained a resilient business model despite geopolitical volatility.

Financial highlights

• Q1 2026 revenues reached EUR 1.8 billion, up 7.6% year-over-year, driven by solid project execution.

• EBITDA was EUR 131.2 million, up 15.7% year-over-year, with a margin of 7.1%, up 50 basis points.

• Consolidated net income was EUR 76.7 million, up 19.9%, with a margin of 4.2%.

• Adjusted net cash position at end of March was EUR 396 million, supported by EUR 117 million operating cash flow.

• CapEx increased 81% year-over-year to EUR 22.8 million, mainly for technology development and digital innovation.

Outlook and guidance

• 2026 guidance confirmed, with group revenues expected at EUR 7.5–7.7 billion and EBITDA at EUR 545–575 million (margin 7.3–7.5%).

• Commercial pipeline increased to EUR 61 billion, with strong opportunities in energy security and critical commodities.

• Confident in securing around EUR 9 billion in orders for 2026, with over 50% already booked.

• Limited operational impact from Middle East tensions; alternative supply routes identified.

• Ballestra Group acquisition expected to close in Q2 2026, anticipated to boost STS performance in H2.