Biesse (BSS) Q1 2026 earnings summary

Executive summary

• Net revenues for Q1 2026 were €146.1 million, down 4.7% year-over-year, mainly due to lower volumes, adverse FX, and challenging market conditions.

• Adjusted EBITDA fell 44.0% to €2.5 million (1.7% margin), and the period ended with a net loss of €6.3 million, more than double the prior year’s loss.

• Order book increased by 2.3% from December 2025, reaching €191.8 million, reflecting improved commercial momentum.

• Significant cost reductions and contingency plans were implemented, including headcount reduction and facility closures in Italy.

• The group faced headwinds from geopolitical tensions, energy price spikes, and delayed government incentives, impacting investment and demand.

Financial highlights

• Value of production decreased 7.3% year-over-year to €155.7 million.

• Adjusted EBIT was -€5.6 million (-3.9% of revenues), compared to -€4.7 million (-3.0%) in Q1 2025.

• Net financial position (excluding IFRS 16) was negative €11.2 million at 31 March 2026, down from positive €1.5 million at year-end 2025.

• Net operating working capital increased by €5.7 million, mainly due to higher inventories.

• Equity decreased by €7.6 million from FY 2025, mainly due to the period loss; group equity stood at €218.6 million.

Outlook and guidance

• Management remains prudent and disciplined, focusing on liquidity, working capital, and cost control in a volatile environment.

• The group aims to achieve its 2026-2028 targets despite ongoing uncertainty and volatility.