Teleste Corporation: Interim Report 1 January to 31 March, 2026
Teleste Corporation
Stock exchange release
May 8, 2026, at 8.30 a.m. EEST
TELESTE CORPORATION: Profitability Improved, Net Sales at Previous year's level
Unless otherwise specified, the figures in parentheses refer to the year-on-year comparison period.
Broadband Networks business segment has been renamed Networks.
january-march 2026 in brief
- Net sales was EUR 32.2 (32.2) million, on par with previous year.
- Adjusted EBITDA was EUR 3.1 (2.7) million, representing an increase of 12.8%.
- The adjusted operating profit was EUR 1.9 (1.5) million, representing an increase of 29.0%.
- The operating profit was EUR 1.8 (1.5) million, representing an increase of 20.4%.
- Earnings per share were EUR 0.07 (0.03), representing an increase of 114%.
- Cash flow from operations was EUR -1.5 (1.5) million.
- Orders received decreased by 15.8% to EUR 31.2 (37.1) million.
outlook for FINANCIAL YEAR 2026 (unchanged)
Teleste estimates that Net sales for 2026 will be in the range of 140 to 160 million euros and adjusted Operating profit in the range of 7 to 10 million euros. Profit is expected to be weighted toward the second half of the year.
Material changes in the operating environment, including geopolitical tensions, changes in trade policies, and the development of the US dollar exchange rate can create uncertainty for parts of the business.
KEY FINANCIALS
| EUR million | 1-3 2026 | 1-3 2025 | Change | 1-12 2025 |
| Net sales | 32.2 | 32.2 | 0.0 % | 138.6 |
| Adjusted EBITDA1) | 3.1 | 2.7 | 12.8 % | 12.1 |
| Adjusted EBITDA, % 1) | 9.5 % | 8.4 % | 1.1 ppt | 8.7 % |
| Adjusted Operating profit1) | 1.9 | 1.5 | 29.0 % | 7.1 |
| Adjusted Operating profit, % 1) | 5.8 % | 4.5 % | 1.3 ppt | 5.1 % |
| Operating profit | 1.8 | 1.5 | 20.4 % | 6.8 |
| Operating profit, % | 5.5 % | 4.5 % | 0.9 ppt | 4.9 % |
| Net result for the period | 1.4 | 0.6 | 141.7 % | 2.6 |
| Earnings per share, EUR | 0.07 | 0.03 | 114.0 % | 0.15 |
| Cash flow from operations | -1.5 | 1.5 | n/a | 12.9 |
| Orders received | 31.2 | 37.1 | -15.8 % | 138.2 |
| Order backlog | 113.6 | 119.9 | -5.3 % | 114.5 |
| Net gearing, % | 39 % | 46 % | -7.7 ppt | 34 % |
| Equity ratio, % | 49 % | 47 % | 2.2 ppt | 48 % |
| Average personnel | 613 | 633 | -3.2 % | 633 |
1) An alternative performance measure defined in the tables section of the report.
COMMENTS BY ESA HARJU, PRESIDENT AND CEO
"Our financial performance and profitability remained strong in the first quarter of fiscal year 2026. Operational execution was at a very good level in both business segments, reflecting the improvements achieved during the previous year. Orders received were seasonally modest at the beginning of the year, while net sales were at the prior year's level. Profitability was robust and improved, driven by gross margin protection, revenue blend and cost discipline.
In the Networks segment, deliveries continued largely as planned, supported by a favorable product and market mix and disciplined cost management. While customer ordering activity followed typical seasonal patterns, our focus on execution efficiency and margin management supported strong profitability trend during the quarter. Investments aimed at strengthening our long-term position in North America continued as planned.
In the Public Safety and Mobility segment, performance was in line with our expectations. Net sales were supported by deliveries from several ongoing projects, whilst orders received reflected typical timing characteristics of project business. Profitability remained at a solid level, supported by improved cost efficiency and an increasingly balanced project and services mix.
Order intake followed expected seasonal patterns across the Group, while our order backlog remained strong and provides a good foundation for the remainder of the year. We continued to focus on margin discipline, cost efficiency and careful prioritization of deliveries in an evolving operational environment.
The global operating environment remains uncertain, and we continue to prepare proactively for different scenarios. Based on current visibility, our full-year outlook for 2026 remains unchanged, with results expected to be weighted toward the second half of the year."
For further information, please contact:
Esa Harju
President and CEO
Mervi Kerkelä-Hiltunen
CFO
tel. +358 40 596 3012
investor.relations@teleste.com
About Teleste
Teleste offers an integrated product and service portfolio that makes it possible to build and run a better networked society. Our solutions bring television and broadband services to you, secure your safety in public places and guide your use of public transport. With solid industry experience and drive for innovations, we are a leading international company in broadband, security and information technologies and related services. We connect with our customers through a global network of offices and partners. In 2025, Teleste's net sales reached EUR 138.6 million and it had approximately 630 employees. Teleste is listed on Nasdaq Helsinki. For more information, visit www.teleste.com .