Solutions30: Revenue Down 8.6% in Q1 2026
Solutions30 has published its Q1 2026 results, showing a consolidated revenue decline to 203.3 million euros. The group faces a mixed market environment in Europe, with an organic decline of 11.4% reflecting the ongoing downturn in Connectivity activities in France and the maturation of digital meter deployments in Belgium. Concurrently, the group continues its operational transformation and strengthens its position with legacy telecom operators in Germany.
Consolidated Revenue Down by 8.6%
Solutions30's consolidated revenue stands at 203.3 million euros for the first quarter of 2026, marking an 8.6% decrease compared to the first quarter of 2025, adjusted for the contribution from the UK and the telecom activity sold in Spain. This change reflects an organic contraction of 11.4%, partially offset by a 2.8% contribution from recent acquisitions (increased stake in So-Tec in France in May 2025 and acquisition of a majority stake in Polish company Elektra Realizacje in September 2025). The impact of currency fluctuations is negligible.
Divergent Regional Dynamics Amid Market Transformation
The Benelux segment accounts for 40% of total revenue with 81.6 million euros, experiencing a purely organic decline of 8.0%. Belgium sees growth in its fiber deployment activities, especially for Wyre in Flanders, but the Energy activity sharply declines by 37.0% due to the maturity of digital meters. In France, revenue of 69.8 million euros (34% of total) undergoes an organic contraction of 16.4%, partially offset by So-Tec's contribution of 7.8%. French Connectivity plunges by 29.9%, while the Energy activity grows by 18.4%, becoming the leading contributor to the group's French revenue.
Ongoing Structural Transformation Amid Mature Markets
Solutions30 continues to deeply adapt its operational model, particularly in France where the group is reducing its exposure to less profitable Connectivity activities. Initial structuring actions initiated at the end of 2025 were completed in the first quarter, accompanied by a gradual improvement in operational performance, according to the group. Similar actions have been initiated in other underperforming areas. Gianbeppi Fortis, Chairman of the Executive Board, emphasizes that the group relies on solid fundamentals in energy, fiber in Belgium, and with legacy telecom operators in Germany, which are increasingly well-positioned in the current market structuring phase. A governance change has occurred with Olivier Domergue stepping down as a member of the Executive Board. The Executive Board continues its duties with its current composition, focused on executing its strategic and operational roadmap.
