Unfavorable weather conditions at the start of the year notably impacted operations in Germany, Poland, and the Energy segment in France.

In the domestic market, the Connectivity business (13% of revenue) remains under pressure, recording a 29.9% slump over the period. However, the group is continuing to adapt this scope, having successfully finalized the first structural measures initiated at the end of 2025, while further reducing its exposure to lower-margin activities.

Meanwhile, the rest of the business units show solid fundamentals. Energy remains the primary revenue contributor in France, supported by markets that continue to trend favorably.

In Belgium, fiber deployment is showing signs of a gradual recovery, while in Germany, Solutions30 benefits from a favorable positioning with major telecom operators in a market currently undergoing restructuring.