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Ebusco Holding (EBUS) investor relations material
Ebusco Holding H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed transition from OEM to OED model, resulting in improved gross margin and reduced losses.
Revenue declined to €22.0m in H1 2026 from €28.2m in H1 2025 due to fewer bus deliveries.
Significant cost reductions achieved through organizational right-sizing and lower employee expenses.
Persistent working capital and liquidity constraints continue to impact operations and delivery schedules.
Strategic discussions ongoing regarding potential transactions involving bus operations.
Financial highlights
Revenue: €22.0m (H1 2025: €28.2m); Gross profit: €6.1m (H1 2025: €-6.2m).
EBITDA loss improved to €-17.9m (H1 2025: €-36.2m); Net loss reduced to €-24.9m (H1 2025: €-46.1m).
Gross margin positive at 27.8% (16.3% adjusted for BMS contract).
Cash and cash equivalents at €2.1m (Dec 2025: €7.4m); Net equity at €-14.8m (Dec 2025: €3.3m).
Net debt (excl. leases) reduced to €26.1m from €46.3m year-over-year.
Outlook and guidance
Delivery schedule for buses heavily weighted to Q4 2026 and some into Q1 2027.
Management aims for further cost reductions in H2 2026.
Ongoing efforts to secure sustainable working capital and short-term liquidity solutions.
Confidence in securing new contracts for Energy Solutions in H2 2026.
- Revenue surged in 2025, but liquidity risks and internal control issues persist.EBUS
H2 2025 - Stable Q3 deliveries, strong order book, and major cost reductions drive operational turnaround.EBUS
Q3 2025 TU - Turnaround progresses with improved losses, accelerated deliveries, and urgent liquidity needs.EBUS
H1 2025 - Strategic turnaround and innovation position the company for growth in Europe's electric bus market.EBUS
Investor Presentation - Turnaround plan, cost cuts, and €36m rights issue address halted production and cash crisis.EBUS
Q3 2024 TU - Revenue fell to €38m and net loss deepened to €64.7m as delays and penalties hit results.EBUS
H1 2024 - Severe losses and liquidity crisis in 2024 force urgent restructuring and refinancing.EBUS
Q4 2024
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