Nicosia, Cyprus. ASBISc Enterprises Plc reported a record net profit of $36.3 million and revenue of $1.27 billion in Q1 2026, citing accelerating global demand for AI infrastructure and servers. The Cyprus-based IT distributor said the three-month period ended March 31, 2026 was the best quarter in its history.
Record quarterly performance
The company said revenues rose 72 per cent year-on-year compared with Q1 2025, while operating profit tripled to $54.5 million from $16.4 million a year earlier. EBITDA increased to $58.2 million from $18.4 million in Q1 2025, and net profit after tax nearly quintupled year-on-year.
Profitability and product mix
ASBISc reported a sharp improvement in profitability, with gross profit margin rising to 8.62 per cent from 7.00 per cent in Q1 2025, which it attributed to stronger pricing power and a shift toward higher-value product categories.
Server demand and European context
The company said its Q1 2026 results stood out in a European context, where ICT distributors have generally recorded more moderate growth, as it benefited from exposure to AI-related server demand and hyperscale data centre expansion. It said global demand for servers remained resilient despite macroeconomic pressures, supported by continued investment in artificial intelligence infrastructure and hyperscale cloud platforms.
Servers become top category
ASBISc said a key driver of growth was a surge in servers and server blocks, which became the group’s largest product category ahead of smartphones for the first time. Sales in the category reached $407.9 million in Q1 2026, up 233 per cent year-on-year.
Company statement
“The quarter-over-quarter increase in net sales reflected strong growth across almost all geographic segments, and this was the best overall quarter in Asbis history,” the company said in a statement included in the interim report.
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