Enento Group (ENENTO) Q2 2026 earnings summary

Executive summary

• Q2 2026 net sales grew by 2.6% year-over-year to EUR 39.9 million, with all main markets contributing to growth at comparable exchange rates.

• Adjusted EBITDA increased by 11.2% to EUR 14.6 million, with margin improving to 36.5%.

• Strategic focus sharpened through the divestment of Emaileri and acquisition of Eivora to strengthen compliance services and core business.

• Organizational transformation advanced, including a shift to a country-based structure, management changes, and workforce adjustments, with 36 roles terminated and 27 changed.

Financial highlights

• Net sales for Q2 2026: EUR 39.9 million (+2.6% y/y); Adjusted EBITDA: EUR 14.6 million (+11.2% y/y); margin at 36.5%.

• Free cash flow for Q2 2026: EUR 8.7 million, with cash conversion at 133.4%.

• Adjusted EPS for Q2 2026: EUR 0.35 per share.

• Net debt to adjusted EBITDA at 2.5x; cash position at EUR 17.5 million.

• Gross investments for Q2: EUR 1.4 million.

Outlook and guidance

• Net sales expected to grow 0–5% in 2026 at comparable exchange rates; adjusted EBITDA growth to exceed net sales growth.

• Macroeconomic and geopolitical uncertainties persist, but demand for services remains stable, especially in Sweden.

• Regulatory changes in Sweden and Finland, including CCD2, anticipated to have a modest or positive impact.