Vantiva: Revenue Down 7.3% in Third Quarter, Video Segment Up 25%
Vantiva reported on October 28, 2026 revenue of €436 million for the third quarter, compared to €470 million a year earlier. The decline stems from Broadband activity and the Americas region, while video and Eurasia posted growth over the period.
The group's two business segments thus moved in opposite directions during the quarter. Against this backdrop, management maintained its target of positive free cash flow for the full 2026 fiscal year.
Quarterly Revenue of €436 Million, Down 7.3%
In the third quarter of 2026, the group's revenue stood at €436 million, down 7.3% year-on-year. At constant exchange rates, the decline was 7%. Comparisons are based on 2025 figures adjusted for the reclassification of IOT and Diversification activities.
Over the first nine months of the year, revenues reached €1,170 million, against €1,331 million a year earlier, a decline of 12.1%. At constant exchange rates, the decline of 8.3% indicates an adverse currency effect on the cumulative figure.
The decline in the third quarter alone (7.3%) is thus lower than that recorded over the entire first nine months (12.1%). According to the group, this quarterly performance is in line with management's expectations.
Broadband Down 15.1%, Video Up 25.2%
Broadband, which represents the bulk of quarterly sales (€321 million out of €436 million), fell 15.1% compared to €378 million in the third quarter of 2025 (15.4% at constant exchange rates). Over nine months, this business segment declined 9.1%, and 5.2% at constant rates.
Video followed the opposite trajectory during the quarter: its revenue rose from €92 million to €115 million, up 25.2% (27.2% at constant exchange rates). Over the first nine months, this business segment nevertheless remains down 21.4%, at €252 million versus €321 million.
Geographically, the quarterly decline primarily reflects weaker demand in the Americas. The group attributes this to ongoing product transitions, reduced investments by certain network operators, and a high comparison base linked to delivery levels in the third quarter of 2025.
In Eurasia, sales benefited from significant shipments of video products to a key customer. They also benefited from price increases implemented by the group in response to rising component costs.
Positive Free Cash Flow Target for 2026 Maintained
Lars Ihlen, interim chief executive officer and chief financial officer, indicated that the quarter had experienced unusual short-term fluctuations across regions and product categories. According to him, these variations do not reflect a change in the group's fundamentals.
The executive clarified that the group expects a more normalized sales mix in the fourth quarter. He also stressed that the operating environment remains uncertain, particularly regarding component prices and supply chain functioning.
Following the first nine months marked by revenue of €1,170 million, down 12.1%, Vantiva maintained its guidance for the 2026 fiscal year: positive free cash flow for the full year.
