Sonaecom (SNC) Q1 2026 earnings summary

Executive summary

• Net income attributable to shareholders rose 57.4% year-over-year to €21.5 million in 1Q26, driven by improved indirect results and solid equity contributions, especially from NOS.

• EBITDA remained stable at €16.9 million, with a resilient operating performance and positive equity method results.

• Consolidated turnover increased 0.7% year-over-year to €3.9 million.

• The balance sheet remains robust, with a net cash position of €202.3 million at the end of 1Q26.

Financial highlights

• Turnover: €3.9 million in 1Q26, up 0.7% year-over-year.

• EBITDA: €16.9 million, up 0.3% year-over-year.

• Net income attributable to shareholders: €21.5 million, up from €13.7 million in 1Q25.

• Equity method contributions: €20.0 million, mainly from NOS.

• Indirect results improved to €3.0 million from negative €5.0 million in 1Q25, aided by favorable FX effects.

Outlook and guidance

• Continued focus on disciplined capital allocation and selective investment, particularly in Bright Pixel's portfolio.

• Management highlights ongoing assessment of diversified investment opportunities and rigorous evaluation of new targets.