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hGears (HGEA) investor relations material
hGears Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M 2026 performance was in line with expectations; FY2026 guidance was reaffirmed amid challenging markets and limited visibility.
Adjusted sales to third parties were €66.2m; adjusted EBITDA was €0.1m.
Schramberg entered self-administration; operations and customer deliveries continued, while other subsidiaries were unaffected.
Financial highlights
Adjusted sales to third parties fell to €66.2m from €69.6m; reported total revenue was €66.5m.
Adjusted gross profit declined to €29.9m from €31.8m; adjusted gross margin was 44.9% vs. 45.6%.
Adjusted EBITDA was €0.1m vs. €0.9m; personnel expenses fell €1.6m, or 6.7%, while negative FX effects weighed on results.
Free cash flow improved to €0.6m inflow from €0.6m outflow; Schramberg-related cash effects helped, partly offset by higher investment outflows.
Outlook and guidance
FY2026 guidance reaffirmed: revenue €80m–€90m, adjusted EBITDA negative €3m to break-even, and free cash flow negative €5m to negative €2m.
Priorities include structural and efficiency measures, cost control, Schramberg restructuring and liquidity preservation; market visibility remains limited.
- Lower FY 2023 sales, but positive H2 FCF strengthened liquidity and reduced net debt.HGEA
H2 2023 - Revenue down 5.6% in H1 2026, [e]-Mobility growth offsets e-Bike and e-Tools declines.HGEA
Q2 2026 - Q1 2026 revenue fell 6.9% to EUR 23.3m; cost controls and guidance reaffirmed.HGEA
Q1 2026 - Profitability rose despite lower sales, with strong [e]-Mobility and e-Tools growth in a cautious outlook.HGEA
Q4 2025 - Adjusted EBITDA improved and e-Tools growth offset declines, with 2025 guidance reaffirmed.HGEA
Q2 2025 - Sales and earnings fell 13.6% as weak demand and destocking hit all segments.HGEA
Q3 2024 - Revenue and profitability declined in H1 2024, but guidance and liquidity remain strong.HGEA
H1 2024 - Margins up, e-Tools strong, e-Bike weak, 2025 guidance steady despite market headwinds.HGEA
Q1 2025 - Revenue fell 14.9% in 2024; 2025 outlook remains cautious with continued headwinds.HGEA
H2 2024
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