Aquafil (ECNL) Q1 2026 earnings summary

Executive summary

• Q1 2026 saw strong margin growth, significant operating cash generation, and substantial fixed cost savings, with volumes in line with expectations and regional variations in performance.

• Revenues were €133.8 million, down 7.1% year-over-year, mainly due to lower selling prices and negative FX effects, while sales volumes increased 0.9%.

• EBITDA rose 15.8% to €19.8 million, with margin improving to 14.8% from 11.9% year-over-year.

• Net profit increased to €1.2 million from €0.4 million in Q1 2025, a 185.2% year-over-year rise.

• The company remains confident in achieving its 2026 targets despite ongoing market uncertainties.

Financial highlights

• Revenues: €133.8 million, down from €144.0 million in Q1 2025.

• EBITDA: €19.8 million (+15.8% YoY); EBITDA margin 14.8%.

• EBIT: €6.0 million, up from €2.9 million YoY; EBIT margin rose to 4.5% from 2.0%.

• Net result: €1.2 million profit, up from €0.4 million YoY.

• Net Financial Position: €209.5 million at March 31, 2026; NFP/EBITDA improved to 2.79x from 2.89x at year-end and 3.45x YoY.

Outlook and guidance

• Management remains confident in delivering expected results for the first semester and achieving 2026 targets, citing strong cost control and margin resilience.

• Ongoing volatility in raw material prices and macroeconomic uncertainty are being closely monitored, with upward pressure on costs managed through procurement and efficiency policies.

• The company maintains its ability to pass increased costs to customers and is focused on maintaining profitability.