Q2 2026 Luotea Oyj Earnings Call Transcript
Key Points
- Net sales grew 5.9% to EUR211.1 million in H1 2026, with growth across all service lines and 2.8% organic growth.
- Hazardous waste and remediation business saw strong 33.2% year-on-year growth, driven by a robust pipeline and high market demand.
- Won several new regional retail customers in H1 2026, supporting future waste management growth.
- Implemented price increases in April, May, and June 2026, expected to fully impact Q3 and improve second-half profitability.
- Balance sheet remains strong with net debt to adjusted EBITDA at 2.1x, and free cash flow on a comparable basis was in line with the previous year.
- Adjusted EBITDA dropped significantly to EUR10.1 million in H1 2026 from EUR15.9 million in 2025, with margin falling to 4.8%.
- Diesel prices increased by approximately EUR3 million year-on-year due to Middle East turbulence, impacting costs.
- Gate fees for waste-to-energy increased due to oversupply of incinerable waste, negatively affecting profitability.
- Organic net sales in waste management declined, with volumes still weak and municipalisation effects continuing to impact the market.
- Announced layoffs of 20 employees and temporary layoffs for up to 420 employees, reflecting ongoing cost pressures and operational challenges.
Good morning. Welcome to Laszla and Tikanoja January-June 2026 earnings release.
My name is Eero Houtaniemi.
I'm the President and CEO and together with me today or this morning I have Joni Sorsanen, our CFO.
Content of today's presentation is here. So first a few highlights, then we will go into market environment and what has happened there. Then efficiency and operations, followed by sustainability. And then Joni will go through the financials and then we will conclude the presentation with the.
Outlook that we updated in July.
First few highlights.
Financial highlights. Our net sales grew by 5.9% to eur211.1 millionos and we saw growth in all of our service lines.
Our adjusted EBITDA was EUR32.8 million compared to EUR36.9 million in previous year and our adjusted EBITDA was EUR10.1 million compared to EUR15.9 million in 2025.
Our free cash flow.
Was in line with previous years cash flow on comparable basis and Ione will cover that more in detail later.
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