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Stroer SE & Co (SAX) investor relations material
Stroer SE & Co Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M revenue rose 5% to €1,550.4m; organic growth was 2.1%, versus -0.4% a year earlier. Adjusted EBITDA increased 2% to €420.9m.
Q3 revenue increased 4% to €513.0m, with 0.8% organic growth; adjusted EBITDA was €147.8m versus €147.4m.
Growth was led by DOOH, programmatic DOOH and Dialog, offsetting weakness in DaaS & E-Commerce.
The FY 2026 outlook was reaffirmed.
Financial highlights
9M adjusted EBIT rose 4% to €183.4m and adjusted consolidated profit increased to €90.4m from €86.3m.
9M reported profit fell to €61.5m from €75.0m; exceptional items were €32.1m versus €9.3m.
Q3 reported net income declined 23% to €23.0m, while adjusted net income increased 1% to €34.5m.
9M operating cash flow rose to €257.6m from €243.4m; free cash flow before M&A was €177.3m versus €176.1m.
Adjusted free cash flow declined to €5.0m from €19.1m.
Outlook and guidance
FY 2026 guidance was confirmed: organic revenue growth in the low- to mid-single-digit range and adjusted EBITDA largely stable YoY.
Adjusted EBITDA before IFRS 16 is expected to develop in line with sales; adjusted free cash flow before M&A is expected to improve.
Management cited positive Q4 prospects, current trends, order books and bookings; remaining Q4 weeks were described as decisive.
2027 CapEx was provisionally targeted at a similar level to 2026; 2027 free cash flow, net debt and leverage were expected at similar levels to 2026 absent M&A.
Statista’s sustainable positive development is expected in 2027, with AI and digital optimization expected to have meaningful P&L impact from 2028.
- H1 2026 saw revenue and earnings growth, led by OOH and Digital Media, outlook confirmed.SAX
Q2 2026 - Q1 2026 saw revenue and cash flow growth, new digital screen launches, and a positive Q2 outlook.SAX
Investor presentation - Revenue and profitability rose, led by Out-of-Home and Digital & Dialog Media growth.SAX
Q1 2026 - Record 2025 revenue and AI-driven strategy support growth and stable earnings outlook.SAX
Q4 2025 - Out-of-home and digital out-of-home led growth as guidance held and net debt increased.SAX
Q2 2025 - Record revenue and EBITDA growth led by OOH and DOOH, with improved leverage.SAX
Q3 2024 - Digital out-of-home and OOH drove record H1 growth, margin gains, and stable leverage.SAX
Q2 2024 - Record Q1 revenue and profit driven by digital and Out-of-Home growth, with 2025 outlook confirmed.SAX
Q1 2025 - Record revenue and profit growth driven by digital and programmatic OOH, with strong 2025 outlook.SAX
Q4 2024
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