IDGC Center & Volga Q1 2026: Revenue growth decelerates but margins expand, net profit surges 26% YoY
IDGC Center & Volga reported Q1 2026 results with revenue of RUB 46,417 mn (+13.9% YoY), EBITDA of RUB 15,924 mn (+18.6% YoY), and net profit of RUB 8,833 mn (+26.0% YoY). Revenue growth decelerated from 19.4% YoY in Q4 2025, while EBITDA growth also slowed from 127.7% YoY in the prior quarter.
YoY Growth in Q1 2026 vs Q1 2025
Margin expansion drives profit growth
EBITDA margin improved to 34.3% in Q1 2026 (vs 32.9% in Q1 2025), while net profit margin rose to 19.0% (vs 17.2% a year ago). The stronger profit growth relative to revenue reflects operational leverage and cost control. Net debt decreased by RUB 7.6 bn in the quarter, reducing leverage.
Key Figures (RUB mn)
| Metric | Q1 2025 | Q1 2026 | Change |
|---|---|---|---|
| Revenue | 40,734.888 | 46,417.312 | +13.9% |
| EBITDA | 13,422.836 | 15,923.637 | +18.6% |
| Net Profit | 7,008.244 | 8,833.039 | +26.0% |
Outlook
The deceleration in revenue growth from Q4 2025 levels warrants monitoring, though margin improvement and debt reduction are positive signals. With net debt falling sharply, the company may have increased financial flexibility for investments or dividends. No guidance or dividend update was provided.