Voltatron (VOTR) Q3 2026 earnings summary

Executive summary

• 9M continuing-operations revenue rose 118.8% YoY to €39.45m, mainly acquisition-driven; adjusted EBITDA grew 39.2% to €2.73m, while its margin fell to 6.9%.

• Integration, growth investment and working-capital needs pressured earnings and cash generation; FY2026 continuing-operations guidance was maintained.

Financial highlights

• Reported continuing-operations EBITDA was €3.80m vs. €1.3m, with a 9.6% margin vs. 7.0%; it included €1.1m of non-cash KOMITEC bargain-purchase income.

• Adjusted EBITDA was €2.73m vs. €2.0m; adjusted EBITDA margin fell to 6.9% from 10.9%.

• Continuing-operations EBT was -€1.49m; adjusted EBT was €0.23m, with a 0.6% margin. Consolidated net income was -€1.72m vs. €1.20m YoY.

• Operating gross profit was €18.6m with a 47.2% margin; excluding the €1.1m bargain-purchase gain, gross profit was €17.5m and margin 44.4%.

Outlook and guidance

• FY2026 continuing-operations guidance: revenue €54m–€57m and operating gross profit margin 41%–47%.

• EBITDA margin forecast is 7%–10%; adjusted EBT margin 0%–1% and IFRS EBT margin -4% to -3%.

• Guidance assumes no significant deterioration in market conditions or added geopolitical, energy-price or supply-chain burdens; subdued markets remain a consideration.

• Q4 delivery depends on customer call-offs, materials and cost trends, and integration execution; weaker demand, delayed call-offs or higher integration costs could impair targets. VEMCOM projects and revenue won are expected to contribute earnings next fiscal year.