Business Review January-September 2026

The figures in this release are unaudited.

July–September 2026

• Revenue was EUR 87.1 (81.1) million, up 7.4%.

• Revenue, when excluding the units sold or discontinued in 2025, was EUR 87.0 (76.4) million, up 13.9%.

• EBITDA was EUR 2.9 (5.8) million and EBITDA margin was 3.4 (7.1)%. The comparison period figure includes a gain of EUR 1.9 million recorded on the sale of the Marine and Offshore Unit.

• Adjusted EBITDA was EUR 5.5 (9.2) million and adjusted EBITDA margin was 6.4 (12.1)%.

• EBIT was EUR 1.0 (3.8) million and EBIT margin was 1.1 (4.7)%.

• Cash flow from operating activities was EUR -3.5 (-7.0) million.

• Undiluted earnings per share were EUR -0.05 (0.10).

January–September 2026

• Revenue was EUR 221.3 (227.7) million, down 2.8%.

• Revenue, when excluding the units sold or discontinued in 2025, was EUR 221.2 (211.2) million, up 4.7%.

• EBITDA was EUR 5.5 (29.9) million and EBITDA margin was 2.5 (13.1)%. The comparison period figure includes a gain of EUR 22.3 million recorded on the sale of the wind and solar power project development business and a gain of EUR 1.9 million recorded on the sale of the Marine and Offshore Unit.

• Adjusted EBITDA was EUR 10.1 (14.5) million and adjusted EBITDA margin was 4.6 (6.9)%.

• EBIT was EUR -0.4 (23.0) million and EBIT margin was -0.2 (10.1)%.

• Cash flow from operating activities was EUR -11.8 (-12.4) million.

• Undiluted earnings per share were EUR -0.45 (1.02).

• At the end of September, order book stood at EUR 318 (379) million.

• At the end of September, net debt was EUR 16.5 (38.5) million.

Market outlook for 2026
The market situation is expected to remain favourable in the key market segments of Enersense's strategy in 2026. In Finland and Sweden, investments are being made to increase the capacity and reliability of electricity and telecommunications networks. Data centres, in particular, will increase capacity needs. In the Baltic countries, market activity slowed down during the first half of the year and it is expected to remain at a low level for the rest of the year. Cautiously positive development is expected in clean energy transition investments. Individual large investment projects may have an impact on market development.

Guidance for 2026 (unchanged)
Enersense estimates its adjusted EBITDA to be EUR 19–23 million in 2026.
In 2025, the adjusted EBITDA for the core businesses was EUR 18.8 million. In 2026, Enersense discontinues separate reporting of core business figures as the strategic focusing is completed.

Key figures

CEO Kari Sundbäck

Enersense delivered strong growth in the third quarter, driven by the Power Business Unit. Adjusted EBITDA declined mainly due to low market activity in Estonia and a slower than expected ramp-up of the Aquatech project. We expect accelerating progress in a number of projects in the Group in the fourth quarter. Hence, we are foreseeing a strong end to the year and are maintaining our full-year guidance.

We see encouraging progress in all our Business Units. In Power, the adjusted EBITDA improved in all Business Lines except Estonia. The turnaround in Estonia progressed as the EBITDA improved from the previous quarters significantly and ended up close to break-even, although market activity continued to be very low. In both Energy Transition and Connectivity, the service business continued its improvement.

Data centres and digital services reflected in the order book

The order book was lower than last year, but it was on a solid level. Due to the nature of our business, the order book does not develop in a linear manner and we have a selective approach to taking orders with healthy margins.

In August, we secured a strategically important order from atNorth to deliver a substation for their data centre in Kouvola, and a fixed data connection project for another data centre customer. We engage actively with data centre customers to grow our business. At the same time, an increasing share of our business in the Power and Connectivity Business Units is coming from data centre related electricity grid and data network capacity build-outs.

In addition, we won maintenance agreements for Fingrid’s substations and Alight’s solar park. These deals strengthen our position in digital services.

After the review period, the order intake has increased by approximately EUR 30 million. We have won data centre related power line projects for E.ON, a battery energy storage and substation expansion project for a renewable energy company, maintenance of Fingrid’s substation secondary systems, maintenance of Steady Energy's small nuclear heating plant pilot, a tower design project for Elering and a substation upgrade for Sadales tīkls. Our quotation volume has increased significantly from the last year and the second quarter, and it is building a solid base for the future.

Guidance unchanged, strong Q4 expected

We maintain our full-year guidance. The fourth quarter will be supported by major projects such as the water treatment plant installations for Aquatech, as well as substation and high-voltage transmission line projects.

We have come a long way since launching our strategy, and Enersense is now more customer-focused and better positioned to capture opportunities in our key growth markets. We are fully focused on achieving both this year's targets and our strategic targets for 2025–2028.

Key events after the review period

After the review period, Enersense has announced orders with a total value of approximately EUR 30 million.

• Press release 29 October 2026: Enersense to modernise Sloka substation in Jūrmala, Latvia.

• Press release 30 October 2026: Agreement for Enersense on preparations for a battery energy storage and substation expansion project with a renewable energy customer. The value of the agreement is approximately EUR 10 million.

• Press release 30 October 2026: Enersense and Elering sign an agreement on the design of a new 110 kV transmission tower solution in Estonia.

• Press release 2 November 2026: Enersense to partner with Steady Energy in operation and maintenance of Finland’s first small nuclear heating plant pilot.

• Press release 2 November 2026: Enersense and Fingrid sign an agreement on secondary equipment maintenance in Northern and Western Finland. The agreement is valid for four years and includes an option for three additional years. The total value of the agreement for the four-year period is estimated at approximately EUR 2 million.

• Press release 3 November 2026: Enersense signs two power line contracts in Sweden, including one supporting data centre development. The agreement between Enersense and E.ON is worth approximately EUR 15 million.

Financial reporting 2027

Enersense will publish the 2026 Financial Statements Bulletin on 17 February 2027. The 2026 Annual Report, including the Financial Statements and the Board of Directors’ Report, will be published during week 10.

Enersense will publish two Business Reviews and a Half-year Financial Report in 2027:

• January-March Business Review on Wednesday 5 May 2027 at around 8:30

• January-June Half-year Financial Report on Thursday 19 August 2027 at around 8:30

• January-September Review on Thursday 4 November 2027 at around 8:30

Pori, 5 November 2026
ENERSENSE INTERNATIONAL PLC
Board of Directors

Webcast

Enersense will host a webcast for investors, analysts and the media on 5 November 2026 at 12:30 EET. CEO Kari Sundbäck and CFO Jan-Elof Cavander will present the result for January-September 2026 and answer questions. The event will be held in English and a recording will be available later on the company’s website.

Rekisteröidy webcastiin.

Additional information

Kari Sundbäck
CEO
Tel. +358 50 464 7704
Email: kari.sundback@enersense.com

Jan-Elof Cavander
CFO
Tel. +358 50 449 9339
Email: jan-elof.cavander@enersense.com

Media contacts:

Liisi Tamminen
VP, Communications, Investor Relations and Sustainability
Tel. +358 44 222 5552
Email: liisi.tamminen@enersense.com

Additional information is available on the company’s website.