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 exports up 9.5%.

• Net profit rose 17.8% to €14.0 million, representing 20.5% of sales.

• EBITDA margin improved to 33.6% of sales, reflecting operational efficiency.

• Operating profit (EBIT) grew 19.2% to €19.2 million, with a 28.1% margin on sales.

• The Board approved a new share buy-back programme, up to 5% of share capital or €50 million, to be executed 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 to 26.1%.

• Investments in Q1 2026 totaled €5.6 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.

• Net cash flow from operating activities was €5.7 million, while cash and cash equivalents at period end were €13.7 million.

Outlook and guidance

• Management expects continued revenue growth and positive economic results for 2026, despite economic uncertainty and geopolitical tensions.

• Cumulative sales for the first four months of 2026 show 13.6% growth over the same period in 2025.

• Focus remains on strengthening competitive advantage through R&D, new product development, and international expansion.