Detection Technology - Q1 as expected, growth continues
DT’s Q1 figures matched estimates as EBITA improved by EUR 1m y/y to EUR 2.4m. Many growth drivers are now working favorably for DT, and growth is expected to continue at least for the next two quarters.
- DT Q1 revenue increased by 13.5% y/y to EUR 25.3m, compared to the EUR 24.3m/24.4m Evli/consensus estimates. EBITA came in at EUR 2.4m vs the EUR 2.3m/2.4m Evli/consensus estimates. Top line grew at a double-digit rate despite continued FX headwinds, driven by positive development across all key applications and geographies.
- Medical (MBU) revenue increased by 15.9% y/y to EUR 12.6m, compared to the EUR 11.9m/12.1m Evli/consensus estimates. Volumes were driven by CT solutions, and demand was strong among both OEMs and small and medium-sized customers. The material shortages that hindered deliveries the previous year eased thanks to proactive measures.
- Security (SBU) increased by 5.3% y/y to EUR 8.1m vs the EUR 8.2m/8.1m Evli/consensus estimates. EMEIA performance was driven by demand for aviation security CT as well as detector solutions for cargo inspection due to intensified border control measures. Growth in the Americas was fueled by aviation-related line scan solutions, while the Chinese security market adversely affected overall sales.
- Industrial (IBU) grew by 23.5% y/y to EUR 4.6m, compared to the EUR 4.2m/4.1m Evli/consensus estimates. There was strong demand for industrial line scanning solutions across all regions, primarily driven by the food industry, also in China. TFT sales continued to grow and is expected to strengthen more, particularly in the battery and defense industries.
- DT expects revenue to grow y/y in Q2’26 and Q3’26. The geopolitical situation, new US import tariffs, material shortages, and price competition especially in China create uncertainty.