LU-VE (LUVE) Q1 2026 earnings summary

Executive summary

• Q1 2026 sales reached €153.4 million, up 13.4% year-over-year, driven by strong demand in power generation, data centers, and heat pumps.

• Net profit rose to €11.3 million (7.4% of revenues), up 45% from €7.8 million (5.8%) in Q1 2025.

• Adjusted EBITDA increased 16.9% to €21.4 million (14.0% margin), reflecting higher volumes and improved pricing.

• Order backlog hit a record €301 million, up 43% year-over-year and 29% sequentially, providing strong visibility for future growth.

• Signed a multi-year hyperscaler contract in April 2026, estimated at over €100 million, reinforcing position in data center cooling.

Financial highlights

• Revenues: €153.4 million, up from €135.3 million year-over-year.

• Adjusted EBITDA: €21.4 million (14.0% margin), up from €18.3 million (13.5%).

• Net profit: €11.3 million (7.4% margin), up from €7.8 million (5.8%).

• Net financial debt improved to €91.4 million (NFD/EBITDA LTM 1.0x), a €12.6 million improvement year-over-year.

• Cash and cash equivalents at period end: €221.2 million.

Outlook and guidance

• Strong order backlog and new multi-year data center contract support a positive medium- to long-term outlook.

• Focus on datacenter segment with ongoing US plant expansion and operational improvements.

• Medium to long-term growth supported by electrification, digitalization, and decarbonization trends.

• Energy costs hedged for 2026, limiting direct impact on profitability.

• Monitoring macroeconomic, geopolitical, and supply chain risks.