SFC Energy (F3C) Q3 2026 TU earnings summary

Executive summary

• 9M 2026 revenue rose to €132.8 million from €102.7 million, while stronger defense mix and European power-business margins lifted adjusted profitability.

• FY26 earnings guidance was raised again; sales guidance remained unchanged.

Financial highlights

• 9M adjusted EBITDA rose to €33.7 million from €10.8 million, and adjusted EBIT to €25.7 million from €5.0 million.

• Adjusted EBITDA was near the upper end of prior FY guidance, while adjusted EBIT had exceeded its prior upper end after 9M.

• Ukraine delivery logistics and Q3 ERP consulting costs were below expectations; some ERP spending shifted to Q4, alongside higher defense business-development costs.

Outlook and guidance

• FY26 sales guidance remains €166.0 million–€175.0 million; adjusted EBITDA guidance is €36.0 million–€38.0 million and adjusted EBIT guidance is €25.5 million–€27.5 million.

• Q4 mix is expected to shift toward civilian products, with a lower earnings contribution than in the prior two quarters; ERP costs and Ukraine expansion and business-development spending add pressure.

• FY27 Ukraine planning includes €23 million–€24 million for National Guard service and regeneration; additional Ukraine projects are excluded.

• India pipeline includes €5 million–€6 million of orders expected to be decided by the fiscal year ending March 31; management expects a significant rebound.