Solwers (SOLWERS) Q1 2026 earnings summary

Executive summary

• Revenue grew 2.9% year-over-year to €21.0 million in Q1 2026, with EBITA at €0.3 million, slightly above the prior year.

• Performance improved modestly, but results did not meet management's ambitions due to continued price competition and a weak construction market.

• Finnish operations outperformed Swedish ones, with infrastructure and specialist design segments showing steady results.

• No acquisitions were made in Q1; focus remains on identifying synergistic M&A targets.

Financial highlights

• EBITDA was €1.13 million (5.4% margin), up from €1.11 million in Q1 2025.

• EBITA increased to €0.26 million (1.2% margin) from €0.17 million (0.8%) year-over-year.

• Adjusted EBITA was €0.27 million (1.3% margin), down from €0.43 million (2.1%) in Q1 2025.

• ROCE declined to 2.9% from 4.9% year-over-year.

• Average headcount was 715, slightly down from 721 in Q1 2025.

Outlook and guidance

• 2026 outlook unchanged: EBITA expected to improve versus 2025.

• Challenging market conditions persist, but performance is anticipated to strengthen as the year progresses.