BEWI Invest (BINT) Q1 2026 earnings summary

Executive summary

• Achieved 6% revenue growth and a 44% increase in adjusted EBITDA margin to 11.2% year-over-year, with a clear path to a 15% EBITDA margin driven by higher volumes and operational efficiency.

• Net sales for Q1 2026 reached NOK 2,454.6 million, up from NOK 2,268.0 million in Q1 2025; EBITDA rose to NOK 213.7 million from NOK 156.8 million.

• Net loss for continuing operations improved to NOK 111.5 million from NOK 252.6 million year-over-year.

Financial highlights

• Operating profit turned positive at NOK 33.5 million, compared to a loss of NOK 57.1 million in Q1 2025.

• Cash and cash equivalents increased to NOK 747.3 million from NOK 461.7 million year-over-year.

• Equity ratio stood at 35.5% as of March 31, 2026, slightly down from 36.9% a year earlier.

• Cash flow from operating activities was NOK 126.1 million, up from negative NOK 25.8 million in Q1 2025.

Outlook and guidance

• Focus remains on achieving a 15% EBITDA margin and leveraging increased market activity.

• Expectation of improved cash generation in the next quarter due to inventory build-up at favorable prices.

• Portfolio companies, including seafood and real estate, are well positioned for continued growth and stable cash flow.