Kreate Group (KREATE) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached €185.4 million, up 152.3% year-over-year, with H1 revenue at €283.0 million, driven by strong operational performance and KFS Finland Oy consolidation.

• Order backlog hit a record €885.8 million at the end of June, up 215.2% year-over-year, securing work for years ahead.

• EBITA for Q2 was €9.3 million (5.0% margin), and for H1 was €10.8 million (3.8% margin), both significantly higher than prior year.

• Major development projects, including Vantaa Light Rail and Junatie Metro Bridge, moved to execution phase, supporting future revenue.

• Personnel increased to 997 at period end, reflecting organizational expansion and successful recruitments.

Financial highlights

• Q2 EBITDA was €12.4 million (6.7% margin); H1 EBITDA was €16.3 million (5.8% margin).

• Free cash flow from operating activities was €3.8 million in Q2 and -€3.2 million for H1, impacted by changes in net working capital.

• Net debt increased to €52.9 million, mainly due to the KFS acquisition and consolidation.

• Equity ratio declined to 21.2% from 31.0% year-over-year.

• Earnings per share (diluted): €0.64 for Q2, €0.72 for H1.

Outlook and guidance

• 2026 revenue guidance raised to €600–650 million (2025: €315 million); EBITA guidance raised to €21–26 million (2025: €10.2 million).

• Guidance based on strong order book, efficient project execution, and successful recruitments.

• No significant new projects required to achieve guidance; timing of large projects may affect revenue recognition.