Sitowise Group (SITOWS) Q1 2026 earnings summary

Executive summary

• Net sales grew 1.8% year-over-year to EUR 49.0 million, with slightly positive adjusted organic growth, driven by strong Infra and outperforming Digital Solutions; Sweden saw net sales growth but remained loss-making.

• Utilization rates improved to 73.2% across all business areas, and refinancing was completed.

• Write-downs from old projects in Buildings weighed on topline, profitability, and order book, but excluding these, Buildings showed year-over-year improvement.

• Strategy was updated with new midterm financial targets, focusing on organic growth, profitability, and debt reduction.

Financial highlights

• Net sales increased to EUR 49.0 million (+1.8% year-over-year), supported by strong Infra growth and improved performance in Sweden.

• Adjusted EBITA/EBITDA margin was 3.8%; profitability would have improved year-on-year excluding Buildings write-downs.

• Operating profit reached break-even (EUR 0.0 million), up from a loss last year.

• Cash flow from operating activities improved to EUR 1.9 million.

• Net debt declined to EUR 73.6 million (net debt/EBITDA leverage 4.5x), with leverage improved year-on-year.

Outlook and guidance

• Infra and Digital Solutions markets expected to remain stable; Buildings and Sweden to stay soft but show signs of improvement.

• Broader construction market recovery in Buildings expected earliest in 2027, with data centers and renovation as growth areas.

• Swedish market shows early signs of recovery but remains uncertain.

• AI and automation seen as key drivers for efficiency and new service development.

• No financial guidance for 2026 due to market uncertainty; mid-term targets: organic growth above market, adjusted EBITDA/EBITA margin above 10%, net debt/EBITDA below 3.