Paris, France | May 5, 2026
Solid cash generation and continued deleveraging in a soft market environmentViridien (ISIN: FR001400PVN6), a global technology and high-performance computing (HPC) leader, announced today its first quarter results.
- Net Cash Flow generation of $26m compared to -$20m in Q1 2025, driven by disciplined cash management and efficient receivables collection
- Further reduction in Net Debt (excluding IFRS 16) to $702m vs $735m at end-December 2025, with an additional $40.7m repaid in March on the USD-denominated bond tranche
- Segment revenue of $214m, reflecting a slow start to the year as anticipated, with additional uncertainty stemming from the ongoing conflict in the Middle East, impacting SMO and GEO
- Profitability reflecting lower revenue, with segment adjusted EBITDAs of $76m
- FY 2026 guidance for Net Cash Flow generation of $100m, with a seasonal profile similar to 2025, reiterated
Sophie Zurquiyah, Chair and CEO of Viridien, said: "As expected, we experienced a soft start to the year, due to increased caution from E&P companies in recent months. The situation in the Middle East added further uncertainty, notably for Sensing & Monitoring and Geoscience. In this context, we delivered solid cash generation, underscoring the strength of our asset-light model and disciplined cash management. We also continued to deleverage, allocating an additional $41m to bond repayment, reducing net debt to around $700m. We reiterate our Net Cash Flow objective of $100m for the full year 2026, with performance expected to be weighted towards the second half as in 2025."
| (in millions of $) | Q1 2026 | Q1 2025 | Change (%) |
| Segment figures | |||
| Revenue | 214 | 301 | -29% |
| Adjusted EBITDAs | 76 | 143 | -47% |
| IFRS figures | |||
| Revenue | 200 | 258 | -22% |
| EBITDAs | 63 | 99 | -36% |
| Operating income | 20 | 56 | -65% |
| Net income | -10 | -28 | +65% |
| Net cash flow | 26 | -20 | n.a. |
| Net debt (excl. IFRS16) | 702 | 848 | -17% |
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Q1 2026 financial results conference call- The press release and presentation will be made available on www.viridiengroup.com at 5.45 pm (CET)
- An English-language conference call is scheduled at 6.00 pm (CET) today
Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.
A replay of the conference call will be available starting the following day, for a period of 12 months, in audio format on the Company's website www.viridiengroup.com.