Teleste Corporation
Stock exchange release
November 6, 2026, at 8.30 a.m. EET
TELESTE CORPORATION: RECORD-HIGH ORDERS RECEIVED AND STABLE PROFITABILITY. DELIVERIES WEIGHTED TOWARD YEAR-END.
Unless otherwise specified, the figures in parentheses refer to the year-on-year comparison period.Broadband Networks business segment has been renamed Networks.
JULY - SEPTEMBER 2026 IN BRIEF
- Net sales were EUR 28.4 (34.5) million, representing a decrease of 17.5%.
- Adjusted EBITDA was EUR 3.4 (3.5) million, remaining at the level of the comparison period.
- Adjusted operating profit was EUR 2.1 (2.3) million, representing a decrease of 7.8%.
- Operating profit was EUR 2.0 (2.2) million, representing a decrease of 7.7%.
- Earnings per share were EUR 0.07 (0.07), remaining at the level of the comparison period.
- Cash flow from operations was EUR -0.7 (4.6) million.
- Orders received were EUR 69.7 (30.1) million, representing an increase of 132.0%.
JANUARY - SEPTEMBER 2026 IN BRIEF
- Net sales were EUR 95.3 (102.5) million, representing a decrease of 7.0%.
- Adjusted EBITDA was EUR 9.8 (9.6) million, representing an increase of 1.7%.
- Adjusted operating profit was EUR 5.9 (5.9) million, remaining at the level of the comparison period.
- Operating profit was EUR 5.6 (5.6) million, remaining at the level of the comparison period.
- Earnings per share were EUR 0.22 (0.13), representing an increase of 68.5%.
- Cash flow from operations was EUR 0.2 (11.1) million.
- Orders received were EUR 137.3 (106.6) million, representing an increase of 28.8%.
OUTLOOK FOR FINANCIAL YEAR 2026 (SPECIFIED)
Teleste now estimates that its net sales in 2026 will amount to EUR 140-145 million and that its adjusted operating profit will amount to EUR 7-9 million.
Previously, Teleste estimated that its net sales in 2026 would amount to EUR 140-160 million and that its adjusted operating profit would amount to EUR 7-10 million.
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 | 7-9 2026 | 7-9 2025 | Change | 1-9 2026 | 1-9 2025 | Change | 1-12 2025 |
Net sales | 28.4 | 34.5 | -17.5% | 95.3 | 102.5 | -7.0% | 138.6 |
Adjusted EBITDA1) | 3.4 | 3.5 | -2.3% | 9.8 | 9.6 | 1.7% | 12.1 |
Adjusted EBITDA, % 1) | 12.1% | 10.2% | 1.9 ppt | 10.2% | 9.4% | 0.9 ppt | 8.7% |
Adjusted Operating profit1) | 2.1 | 2.3 | -7.8% | 5.9 | 5.9 | -0.2% | 7.1 |
Adjusted Operating profit, % 1) | 7.4% | 6.6% | 0.8 ppt | 6.2% | 5.8% | 0.4 ppt | 5.1% |
Operating profit | 2.0 | 2.2 | -7.7% | 5.6 | 5.6 | 0.4% | 6.8 |
Operating profit, % | 7.0% | 6.3% | 0.7 ppt | 5.9% | 5.5% | 0.4 ppt | 4.9% |
Net result for the period | 1.2 | 1.3 | -5.1% | 4.0 | 2.2 | 82.7% | 2.6 |
Earnings per share, EUR | 0.07 | 0.07 | -5.2% | 0.22 | 0.13 | 68.5% | 0.15 |
Cash flow from operations | -0.7 | 4.6 | n/a | 0.2 | 11.1 | -98.4% | 12.9 |
Orders received | 69.7 | 30.1 | 132.0% | 137.3 | 106.6 | 28.8% | 138.2 |
Order backlog | 156.5 | 119.1 | 31.5% | 114.5 | |||
Net gearing, % | 42% | 36% | 6.3 ppt | 34% | |||
Equity ratio, % | 49% | 48% | 0.4 ppt | 48% | |||
Average personnel | 622 | 635 | -2.1% | 633 |
1) An alternative performance measure defined in the tables section of the report.
COMMENTS BY ESA HARJU, PRESIDENT & CEO
"Teleste's orders received reached a record high in the third quarter, driven particularly by strong order intake in the Public Safety and Mobility segment. Net sales declined year-on-year in both business segments as deliveries shifted to the fourth quarter. Profitability nevertheless remained robust and at a solid level. A favorable sales mix supported the quarter's gross margin, and the adjusted operating profit margin improved year-on-year.
In the Networks segment, our European business continued to perform strongly. Our broad product portfolio and large customer base supported performance across several product categories. We made further progress with Ziggo's extensive network upgrades and announced new customers and solutions in North America. However, our overall development in North America this year has been slower than planned. The Charter and Cox transaction has now been completed, but its impact on network capex levels remains difficult to assess at this stage. Our efforts to expand our North American customer base amongst the regional operators are progressing very well, with some of the related net sales expected to materialize latest in 2027.
Public Safety and Mobility continued its strong performance. Orders received reached a record high, driven particularly by the major agreement signed with Siemens Mobility, and the segment's order backlog increased substantially. The agreement with Siemens Mobility for Copenhagen's metro system modernization program expands our customer base among the world's leading rolling stock manufacturers. We also expanded our collaboration with the Belgian national railway operator and secured additional orders for stationary passenger information solutions. Profitability improved clearly year-on-year, and the segment delivered another strong quarter.
We expect the fourth quarter to deliver the highest net sales of the year. Achieving this will require the successful execution of planned major deliveries in both business segments, and uncertainties related to timing remain. Higher inventories and the weighting of deliveries toward year-end have tied up working capital and weakened cash flow. During the remainder of the year, our priorities are focusing on the customer interface, ensuring reliable delivery execution, reducing inventories, and strengthening working capital management.
We have specified our full-year guidance to better reflect the current situation. Solid profitability performance supports the achievement of our full-year operating profit target, although uncertainty remains regarding the timing of North American customer orders and major project deliveries.
Our long-term view of market development and Teleste's strategic growth opportunities remain unchanged."
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.
