European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank84

Austria · Technology

Frequentis

Develops control-centre systems for air traffic management, emergency services, railways, public transport, coastguards and port authorities.

+50%revenue growth
FY2022–FY2025
+51%net-income growth
FY2022–FY2025
+160%stock return
FY2022–FY2025
+1%2026 stock return
current context only

Company profile

From remote airport towers to emergency dispatch and coastal radio

Frequentis designs the operator workstations and software behind air-traffic towers, emergency call centres, railway operations rooms and coastguard networks. Its systems combine voice, sensor feeds, incident workflows, recording and mobile data in one operational picture. Because these rooms must continue through outages, upgrades and handovers, the business extends beyond software alone: projects involve standards and regulatory work, resilient architecture, training, migration and support across long operational lives.

Air traffic and defence

An airport tower can sit hundreds of kilometres from its runway

DFS has controlled Saarbrücken Airport from Leipzig since 2018 using a five-screen panorama fed by video and infrared cameras; the Frequentis case study records more than 36,000 flights managed remotely. The US Air Force Flight Standards Agency and Naval Information Warfare Center also trialled fixed and containerised digital towers at three bases. Simulation, shadow training, ICAO alignment and regulatory approval sit alongside the hardware, while an LVNL agreement illustrates a development partnership with a horizon of up to 25 years.

Emergency services

One screen must connect calls, radios, crews and dispatch

West Yorkshire Fire and Rescue Service's cloud control room combines LifeX with Regola's Unique CAD, Airwave radio and mobile and station systems for crews serving more than two million residents. A separate North Rhine-Westphalia police programme spans 50 control rooms, about 400 operator positions and five networked technical centres. Both show the operating model: integrate many channels and third-party systems while designing for redundancy, availability and phased migration.

Rail operations

A drone can reach damaged track before the response team

ÖBB uses drone garages to inspect hazardous or snow-covered track beyond the pilot's direct view and stream live images to the control room; Frequentis says ÖBB was Europe's first infrastructure company authorised for this operating model. Its ICM platform guides rail incidents from alert to resolution. A deployment brief also names ÖBB's six-centre consolidation, Sydney Trains' Rail Operations Centre and CFL's safety-management process.

Maritime safety

Coastal radio is national infrastructure, not just a call channel

Norway's Kystverket coastal-radio network spans 150 sites and nearly 500 radio units along 9,200 kilometres of coastline, supporting communications for 42,000 Norwegian-licensed vessels. MarTRX brings radio, radar, AIS, incident workflows and legal recording into the maritime control room. Ports of Jersey's 24/7 coastguard and vessel-traffic service and Marine Rescue New South Wales show how the same architecture supports routine traffic and life-saving response.

Current 2026 update

What has changed in 2026?

Operational milestone announced 21 July 2026 · 21 July 2026

Operational milestone announced 21 July 2026latest official update
4company-specific highlights
+1%2026 stock return · context only

APC systems produced

Frequentis USA completed production of the 15,000th APC gateway after compressing the rollout from an original eight-year plan to 12 months.

Operational milestone announced 21 July 2026 · 15,000 APC systems

Revenue

Preliminary H1 revenue increased 43.6% to around EUR 340 million.

H1 2026 · about EUR 340m · +43.6%

EBIT

Preliminary H1 EBIT was expected at around EUR 15 million versus a EUR 4.3 million loss a year earlier; some milestones shifted from H2 into H1.

H1 2026 · about EUR 15m

Order intake

Preliminary H1 order intake increased 16.5% to around EUR 360 million.

H1 2026 · about EUR 360m · +16.5%

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202584+50%+51%+160%