PFISTERER (PFSE) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached €126.9 million, up 26.7% year-over-year, driven by robust order book growth and strong demand across high voltage and overhead line segments, especially in Europe, Middle East, and the Americas.

• Gross margin improved to 43.6%, with adjusted EBITDA up 32.1% to €27.7 million and net profit rising 57.7% to €18.5 million, reflecting operational improvements and favorable product mix.

• Order book increased 17.7% year-over-year to €335.8 million, providing a solid foundation for future growth.

• Strategic initiatives included opening a training center in Riyadh and advancing HVDC testing center construction.

Financial highlights

• Gross profit rose 31.6% to €55.3 million, with adjusted EBITDA margin reaching 21.8%.

• EBIT increased 41.6% to €23.6 million; EPS climbed to €0.98 despite a higher share count post-IPO.

• Net debt reduced by 60.6% to €7.6 million as of March 31, 2026.

• Cash flow from operating activities improved to €-0.9 million from €-5.7 million year-over-year.

Outlook and guidance

• Management expects continued revenue and order intake growth in 2026, supported by a strong order book and ongoing capacity expansion.

• Adjusted EBITDA margin is projected to remain in the high teens to low twenties percentage range.

• North America is poised for significant growth due to grid modernization and rising electricity demand from data centers and AI.

• Outlook assumes no further escalation of geopolitical conflicts in the Middle East.