Luotea (LUOTEA) Q1 2026 earnings summary

Executive summary

• Partial demerger executed as planned, resulting in independent operations and strategic focus from 2026.

• Q1 2026 net sales were EUR 86 million, down 0.6% year-over-year; adjusted EBITA was EUR 0.3 million, nearly flat from last year.

• Turnaround in Sweden is progressing, with improved profitability, net sales growth over 10%, and major contract renewals.

• Customer and employee satisfaction improved, with NPS rising to 18 and eNPS to 24.

• Earnings per share were EUR -0.02, compared to EUR 0.09 in Q1 2025.

Financial highlights

• Group net sales: EUR 86 million, down 0.6% year-over-year.

• Adjusted EBITA: EUR 0.3 million (0.5); adjusted EBIT: EUR 0.0 million (0.1); adjusted EBITDA: EUR 3.1 million (2.9).

• Operating profit was EUR -0.4 million, impacted by brand renewal, efficiency program, and legal case.

• Net cash flow from operating activities after investments was EUR 3.6 million (6.6); cash increased by EUR 1.8 million to EUR 17.5 million.

• Equity ratio was 29.1% (33.4%), and gearing was 15.8% (76.1%).

Outlook and guidance

• Adjusted EBITA for 2026 is expected to be better or materially better than 2025 (EUR 7 million).

• Guidance unchanged; positive contract wins and regulatory changes expected to support growth in Finland.

• Group costs are forecasted to decrease and normalize in 2026.