Cembre (CMB) Q1 2026 earnings summary

Executive summary

• Consolidated revenues for Q1 2026 reached €68.3 million, up 13.9% year-over-year from €60.0 million in Q1 2025, with domestic sales up 19.9% and international sales up 9.5%.

• Net profit rose 17.8% to €14.0 million, representing 20.5% of sales, compared to €11.9 million (19.8% of sales) in Q1 2025.

• Gross operating profit increased 17.3% to €23.0 million (33.6% margin).

• Operating profit grew 19.2% to €19.2 million (28.1% margin).

• The Board approved a new share buy-back program, with a maximum of 850,000 shares and a €50 million cap, authorized for up to 5% of share capital within 18 months.

Financial highlights

• Revenue growth was driven by strong performance in Italy (+19.9%), rest of Europe (+6.5%), and non-European markets (+25.1%).

• Personnel costs increased by 12.1% due to a higher average workforce, but as a percentage of turnover, they decreased slightly to 26.1%.

• Investments totaled €5.5 million in property, plant, and equipment and €0.1 million in intangible assets.

• Net financial position as of March 31, 2026, was negative €1.0 million, down from a positive €7.1 million a year earlier.

• Capital expenditure for Q1 2026 was €5.6 million, slightly down from €5.7 million in Q1 2025.

Outlook and guidance

• Despite economic uncertainty and geopolitical tensions, consolidated revenues and economic results are expected to grow and remain positive for 2026, supported by strong sales momentum in the first four months.