EL.En. (ELN) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached €145.6 million, up 3.3% year-over-year, with EBIT up 14% to €19.9 million and EBITDA up 9% to €23.7 million, driven by strong medical sector growth and resilience amid global challenges.

• Medical sector revenues rose 9.2%–9.3% (nearly 11% organic), offsetting a 10.8%–11.4% decline in industrial sales, mainly due to a drop in the cutting segment.

• Net financial position improved to €173.7 million, up €1.5 million from year-end 2025, with positive cash flow despite seasonal working capital absorption.

• No operational disruption expected following the resignation of the General Manager; management structure remains robust.

• European markets led revenue growth, while Italy declined in both sectors and the rest of the world was mixed.

Financial highlights

• Revenue: €145.6 million (+3.3% YoY); medical sector up 9.2%–9.3%, industrial down 10.8%–11.4%.

• Gross margin: €67.2 million (46.1% margin), up from €62.9 million (44.7%) in Q1 2025.

• EBITDA: €23.7 million (+9% YoY); EBIT: €19.9 million (+14% YoY); pre-tax profit: €20 million (+22.6% YoY).

• Net financial position: €173.7 million, up €1.5 million from December 2025.

• Dividend of €0.25 per share (total €20 million) to be paid May 27, 2026.

Outlook and guidance

• Guidance for 2026 confirmed: targeting consolidated revenue growth of about 5% and improved EBIT margin for the full year.

• Both medical and industrial segments expected to contribute to growth, with industrial recovery anticipated in later quarters.

• Order book and pipeline remain healthy despite macroeconomic and supply chain headwinds.