Koskisen (KOSKI) Q1 2026 earnings summary

Executive summary

• Revenue increased 21.7% year-over-year to €105.0 million in Q1 2026, marking the eighth consecutive quarter of growth, but profitability declined due to challenging market conditions, operational issues, and higher costs.

• Adjusted EBITDA fell to €6.6 million (6.3% margin), and net profit dropped to €0.9 million, with EPS at €0.04, both significantly lower year-over-year.

• The operating environment was impacted by geopolitical instability, energy price spikes, and weak construction and consumer markets.

Financial highlights

• Adjusted EBITDA declined 30.8% year-over-year to €6.6 million; margin dropped to 6.3% from 11.0%.

• Operating profit (EBIT) dropped 60% to €2.5 million; profit for the period fell 78.6% to €0.9 million.

• Basic EPS was €0.04, down from €0.18 in Q1 2025.

• Gross investments rose to €10.9 million, mainly for sawmill and plywood production upgrades.

Outlook and guidance

• 2026 revenue expected to increase from 2025, but adjusted EBITDA margin now forecast below 2025’s 8.1%; previous guidance had anticipated an 8–12% margin.

• Guidance revised downward due to weak demand, cost inflation, and operational challenges.