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Miquel y Costas & Miquel (MCM) investor relations material
Miquel y Costas & Miquel Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for Q1 2026 were €78.6 million, down 13.5% year-over-year, but higher than the previous two quarters.
EBITDA decreased by 14.9% to €18.0 million compared to Q1 2025.
Net profit after tax was €10.0 million, a 22.5% decline year-over-year, but above Q4 2025.
Results were impacted by a weaker US dollar, volatile demand, and new geopolitical conflicts affecting trade and energy prices.
Financial highlights
Operating profit fell 23.8% to €12.4 million year-over-year.
Cash flow after tax reached €15.6 million, down 12.3% from Q1 2025.
Parent company sales dropped 11.1% to €51.6 million, mainly due to lower tobacco industry sales.
Net financial position (net cash) was €60.0 million at quarter-end, down €5.8 million from December 2025.
Outlook and guidance
Quarterly results aligned with forecasts and exceeded Q4 2025, despite being below Q1 2025.
Ongoing geopolitical and macroeconomic uncertainty, with continued pressure from a weak dollar and volatile gas prices.
Growth expected to continue, supported by recent and upcoming investments and new product development.
- EBITDA and net income grew despite lower sales, with positive outlook sustained.MCM
Q3 202412 May 2026 - Sales up 10.1% year-over-year, but net profit dipped 1.5% amid higher energy costs.MCM
Q1 202512 May 2026 - Slight revenue growth offset by lower profit as costs and FX pressures weighed on results.MCM
Q3 202512 May 2026 - Net profit up 10.5% to €26.8M, with margin recovery and ongoing investment amid global risks.MCM
Q2 202412 May 2026 - Sales rose but profit declined due to margin pressure; outlook stable for full year.MCM
Q2 202512 May 2026 - Net profit up 14% to €48.7M, with stable sales and strong investment amid global uncertainties.MCM
Q4 202412 May 2026 - Revenue rose 1.5% but profits fell amid cost pressures and currency headwinds in 2025.MCM
Q4 202512 May 2026
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