Nurminen Logistics (NLG1V) Q1 2026 earnings summary

Executive summary

• Net sales declined 21.2% year-over-year to EUR 25.5 million, mainly due to lower Baltic volumes and severe ice conditions impacting rail transport in Finland.

• EBITDA fell to EUR 4.5 million (17.6% margin), and comparable EBITA dropped to EUR 3.5 million, reflecting increased costs and lower volumes.

• Operational highlights include the successful launch of a scheduled block train service between Italy and Sweden, supporting future growth.

• Cash flow from operating activities was negative at EUR -0.7 million, impacted by growth investments and increased trade receivables.

Financial highlights

• Net sales: EUR 25.5 million (down from EUR 32.4 million year-over-year).

• EBITDA: EUR 4.5 million (EUR 8.1 million year-over-year), margin 17.6%.

• Comparable EBITA: EUR 3.5 million (EUR 6.5 million year-over-year), margin 13.6%.

• Result for the period: EUR 1.2 million (EUR 3.0 million year-over-year).

• Earnings per share: EUR 0.01 (EUR 0.02 year-over-year).

• Cash and cash equivalents at period end: EUR 16.1 million (EUR 18.4 million year-over-year).

Outlook and guidance

• Net sales and comparable operating profit for H1 2026 expected to fall short of the previous year due to uncertain Baltic recovery and delayed impact from Central European investments.

• Guidance for the full year will be updated with the half-year report in July 2026.