Q2 2026 R. STAHL AG Earnings Call Transcript
Key Points
- Order intake improved to 68.6 million, with growth recorded in all regions except the Americas.
- EBITDA pre increased from 5.3 million to 6 million, with the margin improving to 8.3% due to cost optimization measures.
- The cost of material ratio fell sharply to 29.8%, reflecting a strong operational performance driven by day-to-day business.
- Personnel costs decreased by 8.1% to 33.1 million, as workforce reductions are now paying off.
- Free cash flow improved significantly by 6.1 million to minus 3 million, driven by better working capital management.
- The company is seeing success in new application fields like hydrogen storage and UPS, with a major cavern storage project in Germany.
- Asia Pacific remains strong, with late deliveries from big project orders in 2025 and new business in the UPS segment.
- Sales decreased slightly to 72.2 million, down 7.3% year-over-year, with weakness in the Americas and Central regions.
- Net profit remains negative at minus 2.5 million, with earnings per share at minus $0.38.
- The investment side of the business is weak, with greenfield investments and oil & gas projects behind expectations.
- The chemical industry is undergoing a major transformation from Europe to Asia, creating uncertainty and delaying investments.
- Geopolitical conflicts and general economic development continue to pose risks to the business outlook.
- Order intake is down roughly 20 million year-over-year, with the pipeline for larger projects still at a low level of activity.
- The company expects the next major investment in India to impact finances in 2027, with no significant relief expected until then.
Good morning, ladies and gentlemen. A warm welcome. I am Holger Nass, and I am very excited to have you join the R. STHAL earnings call for the second quarter of the fiscal year 2026. The results will be presented by Tobias Popp, who is the sole member of the management board. (Operator Instructions) All this in mind, I wish us interesting insights and now hand it over to Mr. Tobias Popp. It is all yours.
Thank you, Mr. Holger Nass. A very warm welcome as well from our side to our earnings call. And I would like to kick off it immediately. We start with the summary for the quarter.
The summary by order intake improved at a low level to 68.6 million. All regions except America's recorded growth. The sales decreased slightly to 72.2 million compared to the quarter last year.
Asia Pacific regions is still strong but America and Central remains a bit weak.
EBITDA pre increased from 5.3 million to 6 million due to cost optimization measures. EBITDA pre
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