Ackermans & Van Haaren (ACKB) Q1 2026 earnings summary

Executive summary

• Net consolidated profit rose 29% year-over-year to €592.5 million in 2025, driven by record contributions from DEME, Private Banking, and SIPEF.

• Core participations delivered a strong start to 2026, with most segments reporting growth or stable performance year-over-year.

• DEME and Private Banks reinforced market positions through acquisitions and organic growth; Nextensa improved profitability via strategic divestments.

• Growth Capital segment showed strong recovery despite challenging market conditions and currency fluctuations.

• Positive net financial position of €410.8 million as of March 31, 2026.

Financial highlights

• FY2025 net result: €592.5 million, up from €459.9 million in 2024.

• Shareholders' equity increased to €5,701 million (+10.3% year-over-year).

• Market cap at 31 March 2026: €8,707 million; share price: €262.6.

• DEME group turnover rose 2% year-over-year to €1,016 million; order book at €7.4 billion.

• Net cash position at 31 March 2026: €410.8 million.

Outlook and guidance

• 2026 net profit expected to be roughly in line with the record result of 2025, supported by strong orderbooks and robust balance sheets.

• DEME and SIPEF reaffirm guidance for 2026, expecting turnover, EBITDA margin, and recurrent net profit to be in line with 2025.

• SIPEF anticipates solid recurrent results in 2026, with production forecast at 470,000 tonnes of crude palm oil.

• CFE and Nextensa expect 2026 net income close to 2025 levels.

• Nextensa expects development pipeline to drive results as investment portfolio contribution declines.