Q2 2026 LPKF Laser & Electronics SE Earnings Call Transcript
Key Points
- LPKF Laser & Electronics SE (LPKFF) has a strong positioning in the advanced packaging market, particularly with the transition to glass-based packages for AI, which is expected to significantly increase their total addressable market by 2030.
- The company is actively reducing fixed costs and transforming its organization through the North Star program, which is expected to improve efficiency and profitability.
- LPKF Laser & Electronics SE (LPKFF) has expanded its product portfolio in advanced packaging, offering multiple process steps, which positions them as a strategic partner rather than a single-process provider.
- Despite a weak first half, the company maintains its midterm market ambition and aims for a sustainable double-digit EBIT margin by 2028.
- The company has a strong focus on innovation, which is considered its DNA, and plans to continue investing in this area to drive future growth.
- LPKF Laser & Electronics SE (LPKFF) experienced a weak core business in the first half of 2026, with significant revenue declines in the solar sector due to the transition to perovskite technology.
- The company is facing macroeconomic and geopolitical uncertainties, which have led to cautious investment behavior among customers, impacting revenue.
- The welding segment reported negative earnings, and the company is undergoing a transformation to improve its cost structure and profitability.
- The US market showed weakness, largely driven by uncertainty about the availability of grants in the public sector, affecting the company's revenue.
- LPKF Laser & Electronics SE (LPKFF) reported a negative free cash flow of EUR11.5 million in the first half of 2026, partly due to restructuring costs and cash outflows related to the North Star program.
Hello everybody and welcome to our earnings call for the first half of 2026. My name is Bettina Schaefer and I'm responsible for investor relations at LPK. I'm pleased to be joined today by our CEO Klaus Fiedler and our CFO Peter Mimmler. Klaus and Peter will walk you through the business development for the first six months and provide an outlook for the current financial year.
After that, we will open the floor for your questions in a Q&A session. The conference will be recorded and published for a period of two weeks on our website. And before we begin, please note that today's discussion may contain forward-looking statements.
These statements are based on current assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. We do not undertake any obligation to update these forward-looking statements except as required by law.
With that, I would hand over to Klaus.
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