Wirtek (WIRTEK) Q1 2026 earnings summary

Executive summary

• Q1 2026 was the first full quarter under the new strategy launched in November 2025, resulting in margin recovery and early positive results, with EBITDA rising to DKK 0.6 million from -DKK 1.1 million year-over-year.

• Revenue stabilized at DKK 15.5 million, flat year-over-year, with gross margin improving to 61.8% from 54.0%.

• EBITDA margin reached 3.9%, up from -7.2% in Q1 2025, and EPS improved to -DKK 0.06 from -DKK 0.25.

• International revenue diversification continued, with over 70% of revenue from outside Denmark; US 38%, Netherlands 19%, Portugal 14%.

• Pre-tax loss narrowed to DKK -232, reflecting significant operational improvement.

Financial highlights

• Revenue: DKK 15.5 million, unchanged from Q1 2025.

• EBITDA: DKK 0.6 million, up from -DKK 1.1 million in Q1 2025.

• EBITDA margin: 3.9% vs. -7.2% last year.

• Gross margin: 61.8%, up from 54% year-over-year.

• EPS: -DKK 0.06, improved from -DKK 0.25 in Q1 2025.

Outlook and guidance

• 2026 guidance maintained: revenue DKK 65–70 million, EBITDA DKK 3–6 million.

• Q1 performance aligns with full-year trajectory; stable utilization and confirmed project extensions support outlook.

• Growth expected through both organic means and potential acquisitions.

• Strategy expected to continue driving improvements across both divisions through 2026.

• Pipeline and visibility into the rest of the year are described as healthy and developing positively.