Belgium · Delayed Price · Currency is EUR Cenergy Holdings Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 2026 profitability and margins were driven by a strong offshore cable mix and robust demand, with adjusted EBITDA up over 30% year-over-year. Backlog remains high and is expected to grow, while margins are set to normalize as land cable projects ramp up.
Fiscal Year 2025
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2025 saw record revenue, profitability, and margins, with robust backlogs and strong cash flow supporting major capacity expansions. Guidance for 2026 anticipates further EBITDA growth, while new facilities and acquisitions position both segments for continued outperformance.
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Nine-month revenue reached EUR 1.55 billion with strong margins and a 25% year-over-year EBITDA increase. Backlog remains robust above EUR 3.3 billion, and full-year 2025 Adjusted EBITDA guidance is upgraded to EUR 335–350 million.
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Record H1 revenue and profitability driven by strong project execution in both cables and steel pipes, leading to an upgraded 2025 EBITDA guidance. Backlog and margins remain robust, with significant growth expected in Europe and the U.S. factory on track.
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Q1 2025 saw 23% revenue and 39% EBITDA growth, driven by new submarine cable capacity and strong project mix. Backlog remains robust and diversified, with full-year EBITDA guidance of EUR 300–330 million confirmed.
Fiscal Year 2024
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High margins and strong demand in both cables and steel pipes drove record profitability and a 10% revenue increase in 2024. Operational discipline, capacity expansions, and a record €3.44 billion backlog support a positive outlook, with 2025 EBITDA guidance of €300–€330 million.
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Strong nine-month results with 8% revenue growth, doubled profits, and record-high backlog. Steel pipes and cables segments drove performance, with major contract wins and ongoing investments supporting a positive outlook and confirmed 2024 guidance.
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Revenue and backlog reached record levels in H1 2024, with Adjusted EBITDA up nearly 40% year-on-year and net profit more than doubling. Upgraded FY 2024 guidance reflects strong project execution, robust margins, and major investments in US and Greek capacity expansions.