Adris Grupa (ADRS) Q3 2026 earnings summary

Executive summary

• 9M 2026 consolidated sales of goods and services were €964.7m, up 8% YoY; EBITDA reached €252.1m, up 17%, and net income was €164.6m, up 14%.

• Reported net income included gains related mainly to an intra-group sale of non-operating assets; management cited operating net income of €167m.

Financial highlights

• 9M operating income was €192.1m vs €161.5m YoY; pretax income was €179.6m vs €152.0m, and net income was €164.6m vs €144.1m.

• Q3 sales were €427.2m vs €396.3m; EBITDA was €149.9m vs €130.0m, and net income was €120.9m vs €103.9m.

• 9M operating cash flow was €227.5m vs €187.1m; investing cash outflow was €174.0m and financing cash outflow was €49.1m.

Outlook and guidance

• Tourism investment for 2026 is expected to exceed €100m, led by construction of the Marjan hotel in Split, with further investment in camps and hotel renovation.

• Transformation, digitalization, AI adoption, productivity and cost efficiency remain priorities; all power plants in the renewable portfolio are operating at full capacity.