Scanfil Q1 2026: Solid Start with Significant Growth in Turnover and Profit
January–March
- Turnover totaled EUR 229.1 million (192.6), an increase of 19.0%
- Turnover increased organically by 6.5%
- Comparable EBITA margin was at 6.8% (6.5%) and comparable EBITA EUR 15.6 million (12.6), an increase of 24.1%
- Earnings per share were EUR 0.15 (0.13)
- Net debt/EBITDA was 1.57 (0.22)
- Dividend proposal 0.25 (0.24) euro per share
Outlook for 2026
Scanfil estimates that its turnover for 2026 will be EUR 940-1,060 million, and comparable EBITA of EUR 64-78 million.
| KEY FIGURES | 1 – 3 2026 | 1 – 3 2025 | Change,% | 1 – 12 2025 |
| Turnover, EUR million | 229.1 | 192.6 | 19.0 | 797.1 |
| Organic growth, % | 6.5 | -8.5 | 1.2 | |
| Comparable EBITA*, EUR million | 15.6 | 12.6 | 24.1 | 56.4 |
| Comparable EBITA*, % | 6.8 | 6.5 | 7.1 | |
| Comparable Operating Profit (EBIT)**, EUR million | 14.7 | 11.9 | 23.8 | 54.2 |
| Comparable Operating Profit (EBIT)**, % | 6.4 | 6.2 | 6.8 | |
| Net Profit, EUR million | 9.8 | 8.3 | 17.8 | 40.9 |
| Earnings per Share, EUR | 0.15 | 0.13 | 17.4 | 0.63 |
| Return on Equity, % | 12.2 | 11.2 | 13.5 | |
| Equity Ratio, % | 42.9 | 54.9 | 53.9 | |
| Net Gearing, % | 39.1 | 5.3 | 3.0 | |
| Net debt / EBITDA | 1.57 | 0.22 | 0.12 | |
| Net Cash Flow from Operations, EUR million | -2.2 | 11.0 | -120.2 | 64.1 |
| Employees, at the end of period | 4,580 | 3,976 | 15.2 | 4,199 |
| * Excluding items affecting comparability and purchase price allocation amortization | ||||
| **Excluding items affecting comparability | ||||
Christophe Sut, CEO:
“Q1 2026 opens a new chapter for Scanfil. We are stronger than ever in terms of turnover, profit and customer diversification. At a time of regionalization and increased complexity in supply chain management, Scanfil took a step forward during Q1 that allows us to be confident in our journey to deliver on our 2026 targets.
We closed two transformational acquisitions at the turn of the year, elevating Scanfil to an entirely new scale. ADCO Circuits was completed in December 2025 and MB Elettronica in January 2026. Both companies expand our global footprint to new markets with high growth prospects and bring in a strong customer portfolio in Aerospace & Defense and Medtech & Life Science with positive long-term prospects.
In Q1 2026, turnover increased 19.0% to EUR 229.1 million year-on-year (YoY). The positive momentum continued, and organic turnover grew by 6.5%. The development was expected based on strong new sales in the second half of 2025. Acquisitions contributed to overall 14% increase in turnover. Especially, MB showed strong momentum and double-digit growth compared to their Q1 2025.
In EBITA, we increased our margin compared to Q1 2025. Comparable EBITA margin grew by 0.3 percentage points to 6.8% YoY. Margin was strong even with the high number of new product introductions and their effect on efficiency. Also, MB was accretive to Scanfil results from the start.
In the market segments, Americas turnover in Q1 2026 increased organically 12.3% compared to Q1 2025. Business prospects remained solid. In Q1 we reached a record in new product introductions. In the quarter they had a negative impact on profitability but built a strong momentum for the second half of the year.
APAC turnover in Q1 2026 increased organically by 10.9% YoY. Customer demand is robust and operational efficiency solid. In January, we announced an investment in our Chinese operations, which should be fully operational in 2027 and start supporting our development in the region.
Central Europe turnover in Q1 2026 increased organically by 2.9% YoY. In total turnover increased by 32.7%, driven by the MB acquisition. Our Polish operations grew organically, but Germany remained challenging.
Northern Europe turnover in Q1 2026 increased organically by 5.6% YoY, supported by the solid demand of our Aerospace & Defense customers.
The recent development of the global geopolitical situation is favoring our customer group strategy. The energy sector is crucial for resilience, and at the same time the need for internal and external security is increasing. Both trends have positive impact on our Energy & Cleantech and Aerospace & Defense businesses. In Q1 2026, new customer projects totaled EUR 51.7 million compared to EUR 46.7 million in Q1 2025.
The Aerospace & Defense turnover increased in Q1 2026 by 130.5% to EUR 21.0 (9.1) million. The Aerospace & Defense customer group was reported separately from Industrial for the first time. Growth came from acquisition of MB and ADCO, and the very strong performance of our long-term customers. New customer projects won were EUR 0.9 million in Q1 2026.
The Energy & Cleantech turnover in Q1 2026 increased by 18.8% YoY. In Q1 2026, new won customer projects decreased by 3.7% to EUR 23.9 million. The underlying demand continues to be strong.
The Industrial turnover in Q1 2026 increased by 12.4% YoY. In Q1 2026, new won customer projects increased by 0.7% to EUR 15.5 million YoY. High turnover growth was driven by the acquisitions.
The Medtech & Life Science turnover in Q1 2026 increased by 7.1% YoY. In Q1 2026, new won customer projects increased by EUR 79.1% to EUR 11.5 million YoY. Investments in sales and acquisitions contributed to the turnover.
After the first quarter our confidence strengthened. Our new acquisitions are delivering and are accretive to our strong organic growth. We estimate 2026 turnover to be EUR 940–1,060 million, and comparable EBITA of EUR 64–78 million. In January, we announced an investment in our Chinese operations, where we have seen an increasing demand and have a positive outlook. Our 2025 investments in Malaysia and the USA are also ramping up and starting to contribute during 2026.
We are looking at Scanfil’s 50th anniversary year with confidence. We would like to thank our valued customers, partners, and employees for their solid trust and collaboration throughout these 50 years”.
