Dovalue SpA (MIL:DOV)

Q1 2026 Dovalue SpA Earnings Call Transcript

May 15, 2026 / 08:30 AM GMT

Release Date Price: €2.2 (+3.19%)

Transcript

Key Points

Positve

Dovalue SpA (STU:1DB0) confirmed its full-year guidance of $800 million in revenue and $300 million EBITDA, indicating strong confidence in its financial outlook.
The acquisition of COEL is performing ahead of expectations, with commercial synergies already activated, contributing positively to the company's growth trajectory.
New business reached $1.6 billion in Q1, aligning with the $8 billion annual target, showcasing strong commercial momentum.
COEL's revenue grew by 26% year-on-year, with significant contributions from new clients in Germany, the Netherlands, and Sweden.
The company's capital structure remains solid, with a net leverage of 2.3 times at quarter-end, on track to reach 2.2 times by year-end, reaffirming its double B rating with a stable outlook.

Negative

Q1 2026 developed in line with internal phasing but was softer than expected, with gross revenue down 15% year-on-year due to timing effects.
Net income excluding non-recurring items was approximately negative $1 million, reflecting EBITDA trends and financial charges.
Free cash flow was negative $28 million in Q1, reflecting lower EBITDA and temporary working capital absorption.
The year-on-year comparison was against a particularly high Q1 2025 base, which was boosted by unusual timing concentration of revenue aspects.
The company faces challenges in the NPE market, with inflows from forward flow contracts down compared to the previous year, partly due to the loss of the UniCredit contract.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DOVA.MI - doValue SpA
Q1 2026 Dovalue SpA Earnings Call
May 15, 2026 / 08:30AM GMT

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Presentation
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Light in your head and dead This city desert makes you feel so cold It's got so many people but it's got no soul And it's taking so long To find out you were wrong When you thought it held everything You used to think that it was so easy.

I used to say that it was so easy But you're trying now I know the year and then you'd be happy Just one more year and then you'd be happy But you're crying now.

He's got this dream about buying some land.

Give up the booze down and forget about everything But you know he'll always keep rollin' You know he's never going to stop movin' 'Cause he's rollin' He's the rollin' stone When you wake up it's a new morning.

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