Rebl Group (REBL) Q1 2026 earnings summary

Executive summary

• Revenue grew 5.9% year-over-year to €26.5 million in Q1 2026, with positive development in all business segments.

• EBITDA improved to €1.3 million from -€0.2 million, and operating result improved to -€1.1 million from -€2.4 million.

• Net cash flow from operations was -€0.8 million, down from €0.8 million in the prior year.

• Equity ratio strengthened to 47.8% from 39.9% year-over-year.

• Workforce reduced to 608 employees from 661 a year earlier.

Financial highlights

• Revenue: €26.5M (up 5.9% YoY); EBITDA: €1.3M (vs. -€0.2M); Operating result: -€1.1M (vs. -€2.4M); Pre-tax result: -€0.4M (vs. -€1.4M).

• Net cash flow from operations: -€0.8M (vs. €0.8M); Investments: €0.9M (3.4% of revenue, down from 8.5%).

• Interest-bearing debt: €32.4M (down from €39.6M); Financial assets at fair value: €12.6M (up from €10.8M).

• EPS: -€0.01 (vs. -€0.10); Return on invested capital before tax: 0.1% (vs. -1.1%).

Outlook and guidance

• Revenue and operating result expected to improve in 2026 compared to 2025, assuming moderate economic growth in Finland.

• Demand in print expected to slightly decline, visibility business to remain strong, and digital to improve.

• Guidance maintained: revenue to grow and operating result to improve from 2025 (€108.4M revenue, -€4.0M operating result).