Nordecon (NCN1T) investor relations material

Executive summary

• Revenue for Q1 2026 reached €52,003 thousand, up 32% year-over-year, driven by strong performance in both Buildings and Infrastructure segments.

• Operating profit rose to €1,119 thousand from €191 thousand in Q1 2025.

• Gross margin improved to 5.6% from 4.6% year-over-year.

• Order book increased 31% year-over-year to €372,192 thousand as of March 31, 2026, with €155,787 thousand in new contracts secured.

• Management expects business volumes to increase in 2026, supported by a robust order book and market outlook.

Financial highlights

• Net profit for Q1 2026 was €261 thousand, compared to a loss of €403 thousand in Q1 2025.

• EBITDA for Q1 2026 was €1,784 thousand, up from €858 thousand in Q1 2025.

• Administrative expenses rose 13% year-over-year, mainly due to higher staff costs.

• Net margin improved to 0.5% from -1.0% year-over-year.

• Cash and cash equivalents at period end were €2.9m, down from €7.4m a year earlier.

Outlook and guidance

• Revenue targeted to grow by at least 5% per year, with operating margin expected to remain consistently above 3%.

• Operating profit per employee aimed to reach at least €10 thousand per year.

• Focus on strong dividend yield for shareholders.

• Management forecasts growth in business volumes for 2026, based on the order book and economic outlook.