Q4 2026 Sesa SpA Earnings Call Transcript
Key Points
- Sesa SpA (SESPF) achieved all financial targets at the upper end of their guidance, with strong organic growth and increased market share.
- Consolidated revenues for FY26 reached EUR3.6 billion, up 7.9% year-on-year, with a significant contribution from all group sectors.
- The company reported a strong cash flow generation with operating cash flow reaching EUR205 million, driven by profitability growth and efficient working capital management.
- Sesa SpA (SESPF) achieved a very positive set of ESG results, with 97% of electricity purchased from renewable sources and a 10% increase in value generation distributed to stakeholders.
- The new industrial plan targets high single-digit growth, with expected revenues over EUR4 billion and EBITDA above EUR300 million by FY28, leveraging their position as a leading digital integrator.
- Despite the positive financial performance, the EBITDA margin showed only a slight improvement from 7.2% to 7.5% by FY28, indicating limited operating leverage.
- The Business Services sector experienced a slowdown in Q4 due to the postponement of several contracts, although a recovery is expected in FY27.
- The company faces challenges in maintaining stable headcount while aiming for increased productivity and operational scalability.
- There is a potential risk of deceleration in growth after the strong start in Q1 FY27, as the guidance for the fiscal year remains mid- to high single-digit.
- The limited improvement in EBITDA margin may be attributed to cost inflation and business mix, which could impact future profitability.
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the full year 2026 consolidated results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Jacopo Laschetti, Head of Stakeholder Relations and Sustainability of SeSa. Please go ahead, sir.
Good afternoon, everyone, and thank you for joining the SeSa Group presentation. Representing SeSa today are Alessandro Fabbroni, Group CEO; and myself, Jacopo Laschetti, Head of Stakeholder Relations and Sustainability. Earlier today, the Board of Directors approved the consolidated financial results for the FY ended April 30, 2026, and the new industrial plan covering the fiscal year 2027 and 2028.
The corporate presentation is available on the SeSa website and will serve as a reference throughout today's conference call. During today's presentation, Alessandro will first review the group's financial performance for the fiscal year '26, then present the main
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