Admie Holding (ADMIE) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue rose 23.8% year-over-year to EUR 24.4 million, reflecting a 51% share in IPTO Group profits.

• Net profit increased 23% to EUR 24.1 million, with EPS up 23% to EUR 0.104.

• IPTO Group revenue grew 18.6% to EUR 133.1 million, with net profit up 27% to EUR 49.1 million.

• Major infrastructure projects advanced, including interconnections for Crete, Cyclades, Dodecanese, and international links.

Financial highlights

• ADMIE Holding operating expenses increased to EUR 434 thousand from EUR 275 thousand year-over-year.

• EBIT rose 23.3% to EUR 24 million; financial income was EUR 127 thousand, down from EUR 157 thousand.

• IPTO Group EBITDA increased 21.5% to EUR 99.2 million; adjusted EBITDA up 18.4% to EUR 97.4 million.

• Group capital expenditures were EUR 46.8 million, lower than EUR 84.7 million in Q1 2025, reflecting investment phasing.

• Net debt for IPTO Group stood at EUR 1,410.5 million as of March 31, 2026.

Outlook and guidance

• Regulatory approval for allowed revenue for 2026–2029 set system operation revenue at EUR 445.4 million and market operation at EUR 21 million for 2026.

• Share capital increase of EUR 1 billion approved to support the 2025–2034 development plan.

• ADMIE Holding to finance pro rata participation in IPTO’s capital increase via a new share offering up to EUR 530 million.