Cenergy Holdings’ management confirmed its guidance for adjusted EBITDA to 370-400 million euros in 2026.The Group’s backlog stood at approximately 3.3 billion euros on March 31, 2026, providing clear medium-term visibility for the activities of its companies. More specifically, sales reached 511 million euros, marking a 5% increase compared with the first quarter of 2025. Operating profitability (adjusted EBITDA, a-EBITDA) amounted to 100.4 million euros, up 33% year-on-year, with profit margins reaching 19.7%.Net profit after tax amounted to 74 million euros, representing an 81% increase compared with the corresponding period in 2025. According to Alexis Alexiou, Chief Executive Officer of Cenergy Holdings, “the first quarter of 2026 marks a strong performance for the Group, confirming the consistent and disciplined execution of energy projects in an environment characterised by structurally high demand for energy infrastructure and grid expansion. Our performance translated into operating profitability of 100 million with a historic high margin of 19.7%, reflecting both the favourable project mix and the contribution of submarine cable projects to sales.”OutlookRegarding the remainder of the year, Alexiou noted that “demand across all our core markets remains strong, driven by the acceleration of electrification, the increased emphasis on energy security, and the ongoing strengthening of transmission networks. These trends are translating into strong activity and support a resilient order backlog, providing us with clear visibility for our future growth.”Contracts awarded during the first months of the year include the long-term framework agreement for medium- and low-voltage cables with Alliander N.V., one of the leading network operators in the Netherlands, as well as the design, engineering, manufacturing, testing and supply of approximately 70 km of 66kV submarine cables for the BC-Wind offshore wind project in Poland.Regarding the Group’s outlook, management highlighted that market conditions for the cables segment continue to be supported by the key drivers of accelerating electrification and ongoing investments in grid upgrades, transmission infrastructure and offshore interconnections.In this environment, the backlog is expected to strengthen further in the coming months, while the new production lines at the industrial facilities in Greece are now fully operational. The steel pipes market is being shaped by energy security needs and the gradual development of energy transition infrastructure. Further expansion of natural gas and, more broadly, fossil fuel networks is expected to continue.Following the addition of the Hartlepool facility and the resulting increase in production capacity, the company is well positioned to respond effectively to rising market demand, reinforcing the positive financial outlook for 2026 and the years ahead.