Solutions 30 (S30) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 revenue was €203.3 million, down 8.6% year-over-year, reflecting continued market headwinds and adverse weather impacts in key regions.

• Organic revenue declined 11.4%, partially offset by a 2.8% contribution from acquisitions, with negligible currency effects.

• Structural transformation and selectivity measures are underway, especially in French Connectivity, to adapt to mature markets and restore profitability.

Financial highlights

• Group revenue fell to €203.3 million from €222.3 million in Q1 2025 (restated for discontinued UK and Spanish operations).

• Connectivity revenue dropped 11.4% to €137.1 million, mainly due to France; Energy revenue was €39.1 million, down 3.8%.

• Technology revenue remained stable at €27.1 million (+0.2%).

Outlook and guidance

• Management expects ongoing transformation and selectivity to gradually improve financial performance.

• The company is focused on adapting its model to mature markets and leveraging strong positions in Energy and established telecom partnerships.