Cint Group (CINT) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 were EUR 34.0m (SEK 34 million), down 5.3% year-over-year but up 2.6% in constant currency, with EBITA of EUR 4.6m and margin improving to 13.4% from 10.3% due to lower operating expenses.

• Returned to constant currency growth for the first time in two years, driven by sequential improvement in Cint Exchange and acceleration in Measurement.

• Maintained profitability through strong cost control and operational enhancements, resulting in robust operating cash flow and a solid balance sheet.

• Migration to the new Cint Exchange platform reached feature parity, enabling full customer transition in 2026.

• Launched new measurement product, Outcomes, in closed beta, and introduced AI-Moderated Interviews (AIMI) and advanced respondent vetting for data quality.

Financial highlights

• Net sales: EUR 34.0m (SEK 34 million); gross profit: EUR 29.4m; gross margin: 86.4%; EBITA: EUR 4.6m (13.4% margin); operating cash flow: EUR 7.8m; net cash position: EUR 10.2m.

• EBITA margin improved despite lower sales, reflecting strong cost control.

• Amortization dropped to SEK 3.8 million from SEK 7.4 million due to prior impairments.

• Net working capital at EUR 36.0m, the lowest since H1 2024, driven by a reduction in accounts receivable.

• Leverage ratio (Net debt/EBITDA) at -0.2x, well below the 2.5x target.

Outlook and guidance

• Medium-term targets reaffirmed: organic growth above 10%, EBITA margin of 25%, and net debt/EBITDA below 2.5x, but timeline for midterm targets likely extended by a year due to increased investment needs, especially in AI.

• Migration to the new platform expected to complete in 2026, with R&D focus shifting from platform build to innovation.

• No annual dividends planned; cash flows to be reinvested in growth initiatives.

• Committed to achieving net-zero GHG emissions by 2045 and on track for CSRD sustainability reporting compliance.

• No specific growth guidance for Media Measurement, but momentum expected to continue with new product launches.