- Fi al steps i the G oup’s t a sfo matio
- F a ce: ope atio s elated to the loss-maki g telecommu icatio s f amewo k co t act fully halted at the e d of Septembe
- Ge ma y: epositio i g of the custome base ow la gely complete, with the disco ti uatio of low-ma gi activities i 2026 a d a efocus o st o ge ope ato s offe i g g eate visibility
- Excludi g the exiti g scope, i e-mo th eve ue up +3.0% to €474.8 millio
- Ni e-mo th eve ue of the exiti g scope of €88.3 millio , dow -55.9%
- Total i e-mo th eve ue of €563.1 millio , dow -14.8%
- A st eamli ed, efocused, a d st uctu ally mo e p ofitable busi ess po tfolio sta ti g i 2027
- Refocused scope (excludi g the exiti g activities) al eady at a 9.9% adjusted EBITDA ma gi i H1 2026, agai st -24.3% fo the exiti g activities, which masked half of the positive adjusted EBITDA of the efocused scope
- P ese tatio of the G oup’s ew oadmap du i g a st ategic webi a o Novembe 17, 2026
Gia beppi Fo tis, Chief Executive Office of Solutio s30, stated: “This thi d qua te ma ks the completio of a key stage i Solutio s30’s t a sfo matio : The te mi atio of ou majo f amewo k co t act i the telecommu icatio s secto i F a ce is ow complete, as ope atio s ceased e ti ely at the e d of Septembe , elimi ati g the G oup’s last sou ce of losses. Ou Q3 eve ue evolutio p ima ily eflects this withd awal, which was both delibe ate a d a ticipated. I Ge ma y, the epositio i g of ou custome base towa d st o ge se vice p ovide s that offe g eate visibility is ow la gely complete. The bulk of ou busi ess po tfolio, excludi g the scopes we a e i the p ocess of exiti g, is al eady showi g p ofitability levels much close to the G oup’s sta da ds. The eo ga izatio of ope atio s i F a ce will be completed i Q4, a d we will e te 2027 with a st eamli ed, efocused, a d st uctu ally mo e p ofitable busi ess po tfolio. The eal p ofitability of ou busi ess will o lo ge be masked by the activities bei g wou d dow a d by est uctu i g costs.”
| 9 mo ths | Q3 | I millio s of eu os | 2026 | 2025 estated* | % cha ge | 2026 | 2025 estated* | % cha ge | G oup eve ue | 563.1 | 661.0 | -14.8 % | 162.7 | 211.2 | -22.9 % | Be elux | 240.1 | 262.0 | -8.4 % | 70.9 | 80.6 | -12.1 % | F a ce | 154.6 | 227.6 | -32.1 % | 34.1 | 73.3 | -53.5 % | Ge ma y | 64.1 | 71.3 | -10.0 % | 23.4 | 24 | -2.2 % | Othe Cou t ies | 104.2 | 100.1 | 4.1 % | 34.3 | 33.3 | 3.2 % |
* I acco da ce with the p ovisio s of IFRS 5, the 2025 compa ative figu es have bee estated to eflect the classificatio of the U ited Ki gdom a d the divested telecom busi ess i Spai as disco ti ued ope atio s.
The t a sfo matio u de take by Solutio s30 mea s that two scopes will coexist u til the e d of 2026: the efocused scope, which will make up the G oup’s busi ess po tfolio f om 2027 o wa d, a d the exiti g scope, f om which the G oup will have completed its exit by the e d of 2026.
Refocused scope
| 9 mo ths | Q3 | I millio s of eu os | 2026 | 2025 estated* | % cha ge | 2026 | 2025 estated* | % cha ge | Reve ue | 474.8 | 460.8 | +3.0% | 153.2 | 149.2 | +2.8% | Be elux | 233.3 | 223.1 | +4.6% | 70.9 | 69.0 | +2.8% | F a ce | 73.6 | 73.2 | 0.6% | 24.6 | 24.3 | 1.3% | Ge ma y | 63.7 | 64.4 | -1.1% | 23.4 | 22.6 | 3.5% | Othe Cou t ies | 104.2 | 100.1 | 4.1% | 34.3 | 33.3 | 3.2% |
* I acco da ce with the p ovisio s of IFRS 5, the 2025 compa ative figu es have bee estated to eflect the classificatio of the U ited Ki gdom a d the divested telecom busi ess i Spai as disco ti ued ope atio s.
The efocused scope comp ises the activities that the G oup i te ds to co ti ue a d to keep developi g o ce the cu e t pe iod of efocusi g a d est uctu i g, which will be completed by the e d of 2026, has come to a e d. This scope accou ts fo app oximately 84% of G oup eve ue fo the fi st i e mo ths of 2026 a d cove s all of the G oup’s activities with the exceptio of the F e ch e tities affected di ectly o i di ectly by the exit f om the telecommu icatio s f amewo k co t act, the co t act with a Fibe Co i Ge ma y f om which the G oup exited i the fi st half of 2026, a d the oll-out p ojects completed i 2026 i the Be elux egio .
I Q3 2026, eve ue fo the efocused scope was up +2.8%, with g owth ac oss all geog aphies.
This scope has st o g developme t p ospects, i pa ticula i the fast-g owi g ma kets of the e e gy t a sitio (sola pa els, batte ies, elect ic-vehicle cha gi g poi ts, heat pumps a d mo e), data ce te s a d ailway i f ast uctu e.
Exiti g scope
The exiti g scope i cludes:
- the est uctu ed activities i F a ce a d Ge ma y;
- the oll-out p ojects completed i 2026 i the Be elux egio .
The exit f om this scope will be complete a d effective by the e d of 2026.
| 9 mo ths | Q3 | I millio s of eu os | 2026 | 2025 | % cha ge | 2026 | 2025 | % cha ge | Reve ue | 88.3 | 200.2 | -55.9% | 9.5 | 62.0 | -84.7% | Rest uctu ed activities | 81.5 | 161.3 | -49.5% | 9.5 | 50.4 | -81.1% | Roll-out p ojects completed i 2026 | 6.8 | 38.9 | -82.5% | – | 11.6 | -100.0% |
A efocused scope al eady close to the G oup’s p ofitability sta da ds, with a adjusted EBITDA ma gi of +9.9% i H1 2026
Based o data f om the fi st half of 2026, this efocused scope, which accou ts fo app oximately 84% of G oup eve ue, ge e ated adjusted EBITDA of €33.2 millio ove six mo ths, i.e. a ma gi of 9.9%. This level of p ofitability i cludes all of the G oup’s ove head costs.
| H1 2026 | I millio s of eu os | Refocused Scope | Exiti g scope* | G oup Total | Reve ue | 333.6 | 66.7 | 400.3 | Adjusted EBITDA | 33.2 | -16.2 | 17.0 | Ma gi | 9.9% | -24.3% | 4.2% |
* This b eakdow is p ovided fo i fo matio al pu poses o ly a d may be subject to mi o adjustme ts, as ce tai small-scale ope atio s cu e tly i cluded i the exiti g scope may be etai ed. Howeve , this does ot imply a y substa tive cha ge to the a alysis p ese ted above.
I co t ast, the exiti g scope posted adjusted EBITDA of -€16.2 millio ove six mo ths, i.e. a ma gi of -24.3%. The exit f om this scope will the efo e eveal the p ofitability of the activities the G oup i te ds to co ti ue.
I total, i the fi st half of 2026, the exiti g scope ep ese ted a egative p e-tax impact of -€23.5 millio (-€15.2 millio fo the ope ati g loss of the activities disco ti ued i F a ce, -€0.3 millio fo the ope ati g loss of the activities disco ti ued i Ge ma y, -€0.8 millio fo the ope ati g loss of the activities disco ti ued i the Be elux egio , a d -€7.2 millio of est uctu i g costs ac oss these scopes).
Based o adjusted EBITDA of €33.2 millio fo the efocused scope i the fi st half of 2026, the co solidated et i come of the efocused scope would have bee b eakeve ove the pe iod.
A ticipated p ofitability imp oveme ts i 2027 a e thus based less o the assumptio of a b oad-based ecove y tha o the completio of the exit f om heavily loss-maki g ope atio s, with the est of the po tfolio al eady posti g ma gi levels close to the G oup’s sta da ds.
Solutio s30’s co solidated eve ue fo the fi st i e mo ths of fiscal yea 2026 totaled €563.1 millio , dow -14.8% compa ed with eve ue fo the same pe iod i 2025, estated to exclude the co t ibutio s f om the U ited Ki gdom a d the divested telecom busi ess i Spai , to eflect thei classificatio as disco ti ued ope atio s i acco da ce with IFRS 5. This t e d eflects a o ga ic co t actio of -15.8% a d a co t ibutio f om acquisitio s of +1.0%. The impact of excha ge ate fluctuatio s was egligible.
I Q3 2026, G oup eve ue amou ted to €162.7 millio , dow a pu ely o ga ic -22.9% compa ed with the estated values fo Q3 2025.
I the fi st i e mo ths of the fiscal yea , eve ue i the Be elux egio totaled €240.1 millio , ep ese ti g 43% of G oup eve ue. It fell by -8.4%, a decli e that was e ti ely o ga ic. This dec ease eflects the scheduled completio of seve al p ojects, i pa ticula the oll-out of digital mete s i Fla de s a d the Nethe la ds. It was pa tially offset by the st o g pe fo ma ce of the elect ical g id se vices busi ess. Excludi g the co t ibutio of the oll-out p ojects that have come to a e d, eve ue i the Be elux egio ose by 4.6% ove the fi st i e mo ths of 2026 a d by 2.8% i the thi d qua te , compa ed with the same pe iods of 2025.
The Co ectivity busi ess, which accou ts fo 82% of the egio ’s eve ue, emai ed b oadly stable (-0.1%). I July 2026, the Belgia competitio autho ity app oved the pooli g of ce tai fibe oll-out p og ams. As pa t of this i itiative, telecom se vice p ovide s have educed the umbe of thei impleme tatio pa t e s, with Solutio s30 amo g those etai ed. New zo es will the efo e be allocated to etai ed pa t e s i the cou se of 2027. I the mea time, g owth i mai te a ce ope atio s is suppo ti g busi ess activity. I additio , Solutio s30 has bee ce tified to bid o p ojects f om Elia, Belgium’s elect icity t a smissio g id ma age , fo telecommu icatio s i f ast uctu e deployme t se vices, a d has wo a co t act to oll out elect icity mete s fo the ope ato Sibelga i B ussels.
Q3 eve ue i the Be elux egio totaled €70.9 millio . This figu e is dow -12.1% compa ed with Q3 2025.
Fo the fi st i e mo ths of the yea , eve ue i F a ce totaled €154.6 millio , ep ese ti g 27% of total eve ue, dow -32.1%. This t e d eflects a o ga ic co t actio of -34.7%, pa tially offset by a +2.6% co t ibutio f om exte al g owth, eflecti g the co t ibutio of So-Tec, which was fully co solidated f om Ap il 2025.
I the telecommu icatio s segme t, the G oup ceased ope atio s i Septembe u de the majo f amewo k ag eeme t, the te mi atio of which was a ou ced i August 2026. This ag eeme t, which accou ted fo €117.6 millio i eve ue i 2025 but was ope ati g at a loss, is o lo ge pa t of Solutio s30’s ope atio al scope. The exit is accompa ied by a esizi g of the G oup’s st uctu es a d geog aphic footp i t i F a ce, which will be fully impleme ted by the e d of the yea a d i cludes the disco ti uatio of all u p ofitable ope atio s, pa ticula ly i ove seas te ito ies.
The E e gy busi ess has co ti ued to feel the i di ect effects of te mi ati g the telecommu icatio s f amewo k co t act a d the disco ti uatio of all ope atio s i some egio s that depe ded heavily o this co t act. At the same time, So-Tec co ti ues to pe fo m ve y st o gly, both i te ms of g owth a d p ofitability, a d is establishi g itself as the G oup’s developme t platfo m i the photovoltaic secto i F a ce. Solutio s30 i c eased its stake i the compa y to 80% i Q3, st e gthe i g its ma ket positio a d its capacity to accele ate the compa y’s g owth.
Q3 eve ue i F a ce totaled €34.1 millio , dow -53.5%.
Solutio s30’s eve ue i Ge ma y totaled €64.1 millio fo the fi st i e mo ths of the yea (11% of total eve ue), ep ese ti g a pu ely o ga ic decli e of -10.0%. This decli e eflects the tempo a y impact of the G oup’s epositio i g of its custome base towa ds established telecom se vice p ovide s. I Q3 2026, the decli e was limited to -2.2%, with eve ue of €23.4 millio .
The Ge ma fibe ma ket is eo ga izi g, with lo g-sta di g telecom se vice p ovide s playi g a mo e p omi e t ole, as they a e fi a cially st o ge a d offe g eate visibility tha Fibe Cos. Solutio s30 has acco di gly epositio ed its custome base: The te mi atio of a co t act with o e Fibe Co has bee completed, a d the G oup is expected to eceive compe satio u de that co t act i the ve y ea futu e. At the same time, Solutio s30 has wo about te ew co t acts with Deutsche Telekom fo fibe deployme t a d custome co ectio s. These co t acts a e expected to ge e ate cumulative eve ue of mo e tha €20 millio by the e d of 2027, co fi mi g the effective ess of the efocusi g a d ei fo ci g Ge ma y’s ole as a powe ful d ive of lo g-te m g owth fo the G oup.
I the Othe Cou t ies segme t, Solutio s30 epo ted eve ue of €104.2 millio fo the fi st i e mo ths of the yea , up +4.1%. This pe fo ma ce i cludes o ga ic g owth of +3.2% a d a co t ibutio f om exte al g owth of +0.9%. The impact of excha ge ate fluctuatio s was egligible.
The segme t co ti ues to ge e ate p ofitable g owth, d ive by the efocusi g a d st eamli i g measu es impleme ted i ece t yea s. Ove the pe iod, Italy g ew d ive by the expa sio of e e gy se vices, while the fibe -optic busi ess has ow leveled off. I Spai , g owth is p ima ily d ive by cha gi g i f ast uctu e fo elect ic vehicles. I Pola d, Elekt a Realizacje, a specialist i elect ical g id se vices, is o t ack to double its eve ue just o e yea afte it joi ed the G oup i July 2025, suppo ti g Solutio s30’s g owth i e e gy se vices.
I Q3, eve ue fo the Othe Cou t ies segme t totaled €34.3 millio , up +3.2%.
I Tech ology, Solutio s30 has e ewed its pa t e ship with HP fo a fu the th ee yea s, u til Septembe 2029. The G oup is HP’s autho ized se vice p ovide i Spai , F a ce, Italy, Belgium, Luxembou g, the Nethe la ds a d Po tugal. The pa t e ship, which bega i 2009, cove s the e ti e se vice lifecycle of HP PCs a d p i te s: i stallatio , epai , call ce te se vices a d i stalled-base ma ageme t. The e ewal eflects the quality of a lo g-sta di g elatio ship a d Solutio s30’s ability to delive pa -Eu opea o -site se vice co t acts.
I Co ectivity i Belgium, Solutio s30 has ow passed a u ate of o e thousa d fibe co ectio s a mo th fo Fibe klaa , i the Flemish cities whe e the G oup deployed the etwo k, a d the activity co ti ues to amp up. Each job cove s the lead-i civil wo ks f om the public domai to the home, the c eatio of the buildi g e t y poi t, the i stallatio of the fibe i to the home a d the testi g of the li k. It is exte ded by the activatio of the li es o behalf of P oximus, as pa t of the mig atio of custome s f om coppe to fibe , a co t act that Solutio s30 also holds. The G oup the efo e cove s the whole co ectio chai , f om civil wo ks th ough to commissio i g at the custome ’s p emises.
Solutio s30 i vites its sha eholde s, i vesto s, a d a alysts to a st ategic webi a o Novembe 17, 2026, at 6:30 p.m. (CET), hosted by the G oup’s ma ageme t team.
2026 ma ks the fi al stage of the t a sfo matio the G oup bega i 2024, sig ifica tly efocusi g its busi ess po tfolio a d adapti g its o ga izatio al st uctu e to a challe gi g ma ket e vi o me t. Sta ti g i 2027, the G oup will emba k o a ew cycle of developme t, based o a mo e focused scope of ope atio s ta geti g att active ma kets, maki g it st uctu ally mo e p ofitable.
The webi a will outli e the G oup’s cu e t situatio a d p io ities fo each of its geog aphic segme ts, as well as g owth oppo tu ities i each of its ma kets.
The eve t will be available o the G oup’s website (www.solutio s30.com) a d will i clude a questio -a d-a swe sessio . Regist atio is ow ope via the followi g li k:
Solutio s30 st ategic webi a .
Upcomi g Eve ts St ategic webi a – Novembe 17, 2026
About S0lutio s30 SE
Solutio s30 p ovides co sume s a d busi esses with access to the key tech ological adva ceme ts that a e shapi g ou eve yday lives, especially those d ivi g the digital t a sfo matio a d e e gy t a sitio . With its etwo k of mo e tha 10,000 tech icia s, Solutio s30 has completed ove 65 millio call-outs si ce its i ceptio a d led ove 500 e ewable e e gy p ojects. Eve y day, Solutio s30 is doi g its pa t to build a mo e co ected a d sustai able wo ld. Solutio s30 has become a i dust y leade i Eu ope with ope atio s i 9 cou t ies: F a ce, Italy, Ge ma y, the Nethe la ds, Belgium, Luxembou g, Spai , Po tugal, a d Pola d. The capital of Solutio s30 SE co sists of 107,127,984 sha es, equal to the umbe of theo etical votes that ca be exe cised.
Solutio s30 SE is listed o the Eu o ext Pa is excha ge (ISIN FR0013379484- code S30). I dexes: CAC Mid & Small |CAC Small | CAC Tech ology | Eu o Stoxx Total Ma ket Tech ology | Eu o ext Tech C oissa ce.Visit ou website to lea mo e: www.solutio s30.com
Co tact
I dividual Sha eholde s:Tel: +33 1 86 86 00 63 – actio ai es@solutio s30.com A alysts/I vesto s:i vesto . elatio s@solutio s30.com
P ess: media. elatio s@solutio s30.com
Appe dices
Reve ue by Segme t a d Busi ess Li e – Fi st 9 mo ths of 2026
| (I millio s of eu os) | Be elux | F a ce | Ge ma y | Othe | 2026 | Co ectivity | 197.8 | 47.7 | 59.1 | 83.9 | 388.6 | E e gy | 28.0 | 59.6 | 5.0 | 7.9 | 100.5 | Tech ology | 14.3 | 47.4 | — | 12.4 | 74.1 | Reve ue | 240.1 | 154.6 | 64.1 | 104.2 | 563.1 | (I millio s of eu os) | Be elux | F a ce | Ge ma y | Othe | 2025 estated* | Co ectivity | 198.0 | 102.3 | 67.5 | 82.7 | 450.5 | E e gy | 46.0 | 79.1 | 3.8 | 7.4 | 136.3 | Tech ology | 17.9 | 46.2 | — | 10.1 | 74.2 | Reve ue | 262.0 | 227.6 | 71.3 | 100.1 | 661.0 |
Reve ue by Segme t a d Busi ess Li e – Q3 2026
| (I millio s of eu os) | Be elux | F a ce | Ge ma y | Othe | 2026 | Co ectivity | 58.4 | 6.2 | 21.5 | 27.1 | 113.2 | E e gy | 8.3 | 13.4 | 1.9 | 3.0 | 26.6 | Tech ology | 4.2 | 14.5 | — | 4.2 | 22.9 | Reve ue | 70.9 | 34.1 | 23.4 | 34.3 | 162.7 | (I millio s of eu os) | Be elux | F a ce | Ge ma y | Othe | 2025 estated* | Co ectivity | 60.7 | 31.1 | 22.4 | 27.0 | 141.2 | E e gy | 14.9 | 27.4 | 1.5 | 3.0 | 46.9 | Tech ology | 5.0 | 14.8 | — | 3.2 | 23.1 | Reve ue | 80.6 | 73.3 | 24.0 | 33.3 | 211.2 |
* I acco da ce with the p ovisio s of IFRS 5, the 2025 compa ative figu es have bee estated to eflect the classificatio of the U ited Ki gdom a d the divested telecom busi ess i Spai as disco ti ued ope atio s.
