Solutions30 Reports Profitable Transformation Despite Revenue Decline

Solutions30, a media and telecommunications company, reported a significant shift in its business landscape for the nine months ended September 30, 2026. The company's total revenue for the period fell by 14.8% to €563.1 million, with a notable decline in the exiting scope, which saw a 55.9% drop in revenue to €88.3 million. However, the refocused scope, which accounts for approximately 84% of the Group's revenue, showed promising signs of profitability, with an adjusted EBITDA margin of +9.9% in the first half of 2026, compared to -24.3% for the exiting activities.

Gianbeppi Fortis, Chief Executive Officer of Solutions30, highlighted the completion of key stages in the company's transformation.

In France, the Group's operations related to the loss-making telecommunications framework contract were fully halted at the end of September. The repositioning of the customer base in Germany, which had been largely complete by the end of the third quarter, saw the discontinuation of low-margin activities in 2026 and a refocus on stronger operators offering greater visibility. These measures are expected to contribute to the Group's overall profitability in 2027.

The refocused scope, which comprises the activities Solutions30 intends to continue and develop, saw revenue growth of +2.8% in the third quarter of 2026, with growth across all geographies. This scope, which accounts for approximately 84% of Group revenue, generated an adjusted EBITDA of €33.2 million over six months, marking a significant improvement from the -€16.2 million adjusted EBITDA of the exiting scope. The exiting scope, which includes the restructured activities in France and Germany, as well as the roll-out projects completed in the Benelux region, posted a negative pre-tax impact of -€23.5 million.

The company's consolidated revenue for the first nine months of fiscal year 2026 totaled €563.1 million, down -14.8% compared with the same period in 2025, restated to exclude the contributions from the United Kingdom and the divested telecom business in Spain. This trend reflects an organic contraction of -15.8% and a contribution from acquisitions of +1.0%. The impact of exchange rate fluctuations was negligible.

In the Benelux region, revenue for the first nine months of the fiscal year totaled €240.1 million, representing 43% of Group revenue, down -8.4% organically. This decrease reflects the scheduled completion of several projects, particularly the roll-out of digital meters in Flanders and the Netherlands, which was partially offset by the strong performance of the electrical grid services business. Excluding the contribution of the roll-out projects that have come to an end, revenue in the Benelux region rose by 4.6% over the first nine months of 2026 and by 2.8% in the third quarter, compared with the same periods of 2025.

In Germany, Solutions30's revenue for the first nine months of the year totaled €64.1 million, representing 11% of total revenue, down -10.0% organically. The decline reflects the temporary impact of the Group's repositioning of its customer base towards established telecom service providers. In Q3 2026, the decline was limited to -2.2%, with revenue of €23.4 million. The German fiber market is reorganizing, with long-standing telecom service providers playing a more prominent role. Solutions30 has accordingly repositioned its customer base, including the termination of a contract with one FiberCo and the expected receipt of compensation under that contract in the near future. At the same time, the Group has won about ten new contracts with Deutsche Telekom for fiber deployment and customer connections, expected to generate cumulative revenue of more than €20 million by the end of 2027.

The Other Countries segment reported revenue of €104.2 million for the first nine months of the year, up +4.1%, including organic growth of +3.2% and a contribution from external growth of +0.9%. The segment continues to generate profitable growth, driven by the refocusing and streamlining measures implemented in recent years.