Lamor (LAMOR) investor relations material

Executive summary

• Revenue for H1 2026 declined 14.6% year-over-year to EUR 34.3 million, with profitability around break-even, as anticipated.

• Adjusted EBIT for H1 was EUR 0.5 million (1.4% margin), down from EUR 2.8 million (6.9%) in H1 2025.

• Cost savings program is on track, targeting EUR 8 million annual savings by end of 2026.

• Major milestones included the commissioning inspection of the Kilpilahti circular oil facility and new financing arrangements post-period.

• Order intake and backlog both declined significantly compared to the prior year.

Financial highlights

• Q2 2026 revenue was EUR 20.0 million, down 5.3% year-over-year; adjusted EBIT was EUR 0.8 million (3.8% margin).

• H1 2026 net loss was EUR -2.3 million, with EPS at EUR -0.09.

• Net cash flow from operating activities improved to EUR -0.5 million from EUR -4.3 million in H1 2025.

• Investments totaled EUR 10.2 million, mainly for the Kilpilahti facility.

• Equity ratio at 34.0%, net gearing at 107.6%.

Outlook and guidance

• 2026 revenue expected between EUR 80–92 million; adjusted EBIT at or above 2025 level (EUR 6.5 million).

• Profitability and revenue are expected to be weighted toward H2 2026, with improvements from efficiency measures.

• Circular oil production ramp-up expected to begin after completion of final regulatory measures.