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Tecnicas Reunidas (TRE) investor relations material
Tecnicas Reunidas Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 sales rose 12% year over year to €3,060.8m; reported operating profit was €104.2m and net profit €59.1m.
Underlying EBIT increased 24% to €149m (4.9% margin); reported EBIT was €104m (3.4% margin) after a €45m Middle East conflict provision.
Backlog reached €13,938m at 30 June, up from €10,553m at December 2025; H1 order intake was €5.9bn.
Q2 sales were €1,478m and EBIT was €73m, a 5% margin; no Q2 provisions were required.
Net cash was €343.8m at 30 June, compared with €331.6m at December 2025.
Financial highlights
Q2 sales reached €1,478m; EBIT was €73m, representing 5% of sales.
H1 net profit was €59.1m, broadly unchanged year over year; basic and diluted EPS was €0.75 versus €0.74.
Operating cash flow was €46.5m; cash and cash equivalents were €1,384.8m, up from €1,143.2m at year-end 2025.
Equity increased to €622m from €564m in 2025.
Outlook and guidance
2026 sales guidance is above €6.5bn; underlying EBIT is expected to exceed €325m, with an underlying EBIT margin above 5%.
2026 order intake is expected to exceed €8bn, including ~€375m in services awards.
Power business outlook was upgraded, with potential annual revenue of €2bn; medium-term 2028 EPC revenue guidance is to be revised upward from €4.5bn.
Services targets include €500m annual revenue and ~30% gross margin by 2028.
- Sales up 21% to €1,583M; strong cash and pipeline despite €45M Middle East provision.TRE
Q1 2026 - 2025 sales rose 45% and net profit 75%, with strong backlog, transformation, and 2026 growth outlook.TRE
Q4 2025 - 9M 2025 sales up 43%, EBIT up 56%, and backlog at €11.5B with upgraded guidance.TRE
Q3 2025 - Decarbonization, digitalization, and global expansion drive ambitious revenue growth targets.TRE
Investor Day 2025 Presentation - Record sales, EBIT, and backlog in H1 2025 drive strong outlook and margin expansion.TRE
Q2 2025 - Record backlog and robust order intake fuel 58% net profit growth and margin expansion.TRE
Q3 2024 - H1 2024: €2.1bn sales, €84.2m EBIT, €318m net cash, backlog €10.96bn, SALTA plan launched.TRE
Q2 2024 - Record backlog and major contract wins drive strong sales, profit, and 2025 outlook.TRE
Q1 2025 - Record 2024 growth and backlog support higher sales, margins, and dividend resumption by 2026.TRE
Q4 2024
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