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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
INDUS
INDUS (INH) investor relations material
INDUS Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
9M revenue rose 18.5% YoY to €1,509.5m; adjusted EBITA more than doubled to €218.5m, with growth across all three segments.
Earnings after taxes rose 66.1% to €102.8m and EPS increased to €4.11.
Tungsten carbide price effects were an exceptional earnings driver; FY guidance was confirmed with significant Q4 weakening of the effect expected.
Incoming orders increased 14.8% to €1,639.9m; book-to-bill was 1.09 and order backlog reached €776.9m.
Financial highlights
9M revenue was €1,509.5m versus €1,274.0m; adjusted EBITA was €218.5m versus €104.2m, and EBIT was €182.3m versus €88.7m.
Q3 revenue was €544.3m, up 24.4%; adjusted EBITA reached €95.0m and EBIT €70.6m.
EBITDA was €276.1m, or 18.3% of revenue, versus €158.4m and 12.4% in 9M 2025.
Operating cash flow was €63.7m and free cash flow €38.0m for 9M; Q3 free cash flow was €74.9m.
Outlook and guidance
FY 2026 guidance confirmed: revenue €1.90–2.10bn, adjusted EBITA €220–260m, margin 11–13%, and free cash flow at least break-even.
Engineering expects moderate revenue growth, a slight adjusted EBITA increase and an 8–10% margin; Q4 is expected to deliver the segment’s highest revenue and earnings contribution.
Infrastructure expects moderate revenue growth, strong adjusted EBITA growth and a 10–12% margin.
Materials Solutions expects strong revenue and very strong adjusted EBITA growth; margin guidance rose to 18–20% from 15–17%, factoring in Q4 tungsten carbide-related weakening.
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Latest events from INDUS
- Higher FY 2023 EBIT and cash flow strengthened the balance sheet ahead of 2024 acquisitions.INH
H2 2023 - Strong H1 2026 growth and raised outlook, led by exceptional Materials Solutions performance.INHQ2 2026
- Revenue and earnings surged, but cash flow and debt worsened due to raw material costs.INHQ1 2026
- Revenue up, free cash flow strong, and higher dividend proposed amid moderate growth outlook.INHQ4 2025
- Record Q3 revenue and 10% EBITA growth, with guidance reaffirmed amid economic headwinds.INHQ3 2025
- Targeting EUR 3 billion sales by 2030, INDUS drives growth via acquisitions and resilient cash flow.INH16th IIF - International Investment Forum
- Sales stable, margins pressured by tariffs; guidance and strong H2 outlook confirmed.INHQ2 2025
- Sales and EBIT fell year-over-year, but Q3 margins and cash flow improved.INHQ3 2024
- Sales and EBIT fell, but EPS and free cash flow rose; guidance lowered amid economic headwinds.INHQ2 2024
Next INDUS earnings date
Q4 202619 Feb, 2027
INDUS
Next INDUS earnings date
Q4 202619 Feb, 2027
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Frequently asked questions
INDUS Holding AG is a German investment firm specializing in small and medium-sized enterprises in German-speaking regions. The company operates in various sectors, including engineering, infrastructure, and materials. Through its subsidiaries, INDUS provides strategic and financial support to its portfolio companies, promoting sustainable growth and development. Key segments include construction, automotive technology, machinery and plant engineering, metal and metal processing, and medical and health technology. The company is headquartered in Bergisch Gladbach, North Rhine-Westphalia, and its shares are listed on the XETRA.