Norrhydro Group | Company Release | April 22, 2026 at 08:00:00 EEST
Interim report of Norrhydro Group Plc Q1 2026: Growth continued profitably during the review period
This announcement is a summary of Norrhydro Group Plc's interim (January-March 2026) report. Full interim report is attached and available on Norrhydro's website https://www.norrhydro.com/en/investors-reports-and-presentations.
This interim report is unaudited, and the figures presented relate to the Norrhydro Group.
January - March 2026 summary
- Turnover increased 20.5 % to EUR 7, 194 (5,971) thousand
- EBITDA was EUR 906 (241) thousand
- EBITDA margin was 12.6 % (4.0 %)
- Operating profit was EUR 594 (-97) thousand
- Earnings per share, undiluted EUR 0,035(-0,033)
- Earnings per share, diluted EUR 0,033 (-0,031)
CEO's review
Norrhydro continued on a path of profitable growth at the beginning of the year. Revenue improved over 20 % compared to the same period in 2025 being EUR 7,194 (5,971) thousand. Profitability, measured by EBITDA, improved by 277 % to EUR 906 (241) thousand. The improvement in profitability was mainly driven by revenue growth. In addition, cost efficiency improved compared to the comparison period.
The overall market development at the beginning of the year has been mixed across different segments. Demand in the forestry industry declined during the early part of the year, while the strong growth seen last year in the material handling, mining, and earthmoving sectors has leveled off. Demand in the construction segment remains at a low level. In the marine and defense industry segments, demand has increased.
Geopolitical uncertainties and their partial realization have been reflected in a slowdown in market demand and a slight decrease in order inflows from certain customers. This decline in order intake is expected to affect the Company's order book and revenue in Q2 to some extent.
In recent weeks, pricing pressure has been reported within the supplier base, driven in particular by increases in energy prices and other key cost factors. We expect these factors to be reflected in supplier prices in the near future. The Company actively monitors cost developments and aims, where necessary, to pass on cost increases to customer prices in a controlled manner in order to safeguard profitability. At the same time, rising interest rates may weaken end customers' willingness to invest and may delay purchasing decisions, which could affect demand development in the short term.
We expect the overall market to continue gradual recovery during 2026, although at a slightly slower pace than previously anticipated.
Norrhydro has continued sales and marketing activities and has been successful in these efforts at the beginning of the year. During the early part of the year, Norrhdyro has secured new products, product families, and customer relationships, the additional revenue from which will be partially reflected already in late 2026 and fully realized in 2027.
Regarding the NorrDigi® MCC product, we have continued the development of the excavator. Certain components of the excavator are being replaced, and modifications have been made to the software.
These updates are mainly related to the operation of the excavator and have emerged as Norrhydro has assumed full responsibility for its control system. Field testing of the excavator will continue in summer 2026 once the above-mentioned updates have been completed, with the aim of completing all tests by autumn 2026.
In the NorrDigi® EMA business, order intake in the early part of the year has focused particularly on the marine industry segment. The quotation pipeline for EMA products has developed positively and shows growth; however, geopolitical uncertainty has contributed to slower customer decision-making. During the early part of the year, the Company has strengthened its investments in the sales and marketing of NorrDigi® EMA products in order to capitalise on growth opportunities.
Yrjö Trög, CEO
Norrhydro Group Plc
Key financial figures
| Thousand euros | 1.1.-31.3.2026 | 1.1.-31.3.2025 | Change | 1.1.-31.12.2025 |
| Turnover | 7,194 | 5,971 | + 20.49% | 28,702 |
| EBITDA | 906 | 241 | + 276.6% | 2,651 |
| EBITDA, % | 12.6% | 4.0% | 9.2% | |
| Operating profit | 594 | -97 | +711.9% | 1,352 |
| Operating profit, % | 8.3% | -1.6% | 4.7% | |
| Profit for the financial period | 386 | -365 | + 205.7% | 233 |
| Profit for the financial period, % | 5.4% | -6.1% | 0.8% | |
| Cash flow from business operations | 669 | -553 | 1,057 | |
| Return on investments, % | 3.4% | -0.53% | 7.58% | |
| Return on equity, % | 4.6% | -4.7% | 2.90% | |
| Equity ratio, % | 36.1% | 30.9% | 34.6% | |
| Current ratio | 1.10 | 1.29 | 1.07 | |
| Quick ratio | 0.25 | 0.30 | 0.21 | |
| Earnings per share, undiluted € | 0.035 | -0.033 | 0.021 | |
| Earnings per share, diluted € | 0.033 | -0.031 | 0.020 | |
| Personnel at the end of period | 135 | 148 | 135 |
Short term outlook 2026
Geopolitical risks and economic uncertainty continue to create volatility in energy and raw material markets, supply chains, and financing, requiring the Company to maintain comprehensive risk management. In the technology industry, growth is expected to be driven by increased investments; however, uncertainty in the operating environment of export-oriented companies has increased as a result of escalating geopolitical tensions.
To ensure liquidity, the Company has a credit facility of EUR 1,750 million, of which EUR 1,047 million was utilized at the end of the reporting period.
The Company expects the positive development of its business to continue also in 2026.
The Company has not changed the guidance issued in its financial statements release published on 19 February 2026.
The Company expects revenue to be EUR 30,000-32,000 thousand (EUR 28,702 thousand in 2025) and
reported EBITDA to be EUR 3,000-4,000 thousand (EUR 2,651 thousand in 2025).
The main focus of growth is expected to be in the second half of 2026.
Financial reporting 2026
Norrhydro Group Plc will publish the following financial reports in 2026
• Half-Year Financial Report January-June 2026 to be published on Wednesday, 15 July 2026
• Interim Report for July-September (Q3) 2026 to be published on Wednesday, 21 October 2026
Further enquiries:
Yrjö Trög
CEO
Norrhydro Group Oyj
Tel. +358 400 291 229
yrjo.trog@norrhydro.com
Certified Adviser:
Translink Corporate Finance Oy
Jari Lauriala, Managing Partner
Tel. +358 40 091 8855
jari.lauriala@translinkcf.fi
Sami Miettinen, Partner
Tel. +358 400 735 835
sami.miettinen@translinkcf.fi
Distribution:
Nasdaq Helsinki Oy
Key media
https://www.norrhydro.com/en
Norrhydro Group Oyj
Ratavartijankatu 2
FI-96100 Rovaniemi
FINLAND
About Us
Norrhydro Group Plc in brief
Norrhydro, founded in 1985, is a Finnish forerunner in motion control and a provider of energy-efficient hydraulic cylinders and system suppliers specialising in high-quality, customised and energy-efficient hydraulic cylinders and demanding linear motion control systems and mobile equipment. The company has 40 years of experience in developing and manufacturing customised hydraulic cylinders and liners motion control systems for the most demanding conditions and environments. In 2025, the company generated revenues of EUR 28.7 million, EBITDA of EUR 2.7 million and operating profit of EUR 1.4 million.
