Vincit (VINCIT) Q1 2026 earnings summary

Executive summary

• Revenue declined 15.2% year-over-year to EUR 16.4 million, mainly due to lower volumes in software development and commerce business.

• Adjusted EBITA remained stable at EUR 0.3 million, improving as a percentage of revenue to 1.8% from 1.5% year-over-year.

• Cost-saving measures included change negotiations and organizational restructuring, resulting in a reduction of approximately 40 employees.

• Customer activity is increasing, but sales cycles remain long and clients are prioritizing efficiency over new investments.

• AI-driven solutions and agentic process automation are being scaled, with notable recognition for AI projects.

Financial highlights

• EBITDA fell 41.7% year-over-year to EUR 0.6 million; adjusted EBITDA was EUR 1.1 million, down 21.9%.

• EBITA was EUR -0.2 million, and EBIT was EUR -0.4 million, both declining from the prior year.

• Items affecting comparability totaled EUR -0.5 million, mainly from restructuring costs.

• Basic EPS improved to EUR -0.02 from EUR -0.04 year-over-year.

• Cash flow from operating activities increased to EUR 3.2 million from EUR 2.7 million.

Outlook and guidance

• 2026 adjusted EBITA margin is expected to improve from the previous year.

• Strategic targets for 2025-2027 include a 10% adjusted EBITA margin by 2027 and 10% organic revenue growth in 2026-2027.

• Equity ratio target above 50% and net debt-to-EBITDA below two.

• Dividend policy aims to distribute at least 30% of annual net profit as dividends.