€21.03M revenue in Q1 2026

Activity hits a low in the first quarter of 2026

‍In the first quarter of 2026, IT Link Group recorded revenue of €21.03 million, down 3.7% compared to the same period in 2025 (-3.4% at constant exchange rates).

The activity rate (3) reached its lowest level at 89.9% for the quarter, compared to 92.4% a year earlier, primarily due to a lag between order intake and the actual start of several key projects.

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Activity in France (including Morocco) decreased by 2.9% compared to Q1 2025. This geographical area, which accounts for just over 80% of IT Link Group's total productive workforce (4), achieved significant commercial successes during the period, the effects of which will be felt starting in the second quarter.

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International revenue decreased by 7.1% (-5.6% at constant exchange rates), penalized by a reduction in public procurement in Quebec, a market that represents almost all of Ciao's Consulting Services activity. Meanwhile, IT Link Canada reported revenue growth of +10.8% (+14.2% at constant exchange rates). In Benelux, activity remained almost stable at -1.0%.

The Group's service activities decreased by 3.9% during the period.

Solutions activities showed a decrease of 1.8% in the first quarter. This sector is particularly sensitive to exchange rate fluctuations due to the growing share of Ciao's Digital Studio and Accessibility offering in the mix. Adjusted for exchange rate variations, activity was down 0.6%.

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Positive HR momentum returns

‍As of March 31, the Group's workforce stood at 898 employees, representing 18 net recruitments during the quarter, and the total productive workforce (4) reached 924 consultants (compared to 905 a year earlier), aligned with the projected growth trajectory for 2026.

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2026 Outlook

‍The Group confirms its ambition to return to growth in the second quarter and achieve revenue growth of between 1% and 3% for the year.

Management aims for improved profitability, targeting a current operating income of around 6% for the year 2026, but remains attentive to uncertain macroeconomic and geopolitical contexts.

IT Link will hold its Annual General Meeting on June 25, 2026.

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(3) Activity Rate = Number of days produced / Number of potential production days

(4) Total Productive Headcount = IT Link Group productive headcount + subcontracting partners

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To view the full press release, click here.