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Mühlbauer Holding (MUB) investor relations material
Mühlbauer Holding H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 2026 revenue rose 21.1% YoY to €249.9m; operating result increased to €22.0m and net income to €16.9m.
Order intake doubled to €243.7m, while backlog fell 10.5% YoY to €688.5m following revenue recognition of major projects.
Financial highlights
Total output increased 11.6% YoY to €235.5m, despite a €14.4m inventory decrease versus a €4.6m increase in H1 2025.
Gross profit was €151.9m versus €142.4m; material costs rose to €93.2m from €75.4m.
Net income reached €16.9m versus €6.4m; income tax expense was €5.1m versus €5.4m.
Cash and bank balances were €81.6m at 30 June 2026, up from €71.5m at 31 December 2025.
Outlook and guidance
FY 2026 consolidated guidance calls for slight growth in order intake and revenue and a moderate improvement in operating result, pre-tax return and operating cash flow.
Precision Parts & Systems expects order intake and revenue above prior-year levels and a positive single-digit operating result.
Automation expects slightly higher order intake, flat revenue and a positive operating result; ATECH expects moderate order growth, lower revenue and a slightly positive result.
Precision Parts & Systems production in Germany is forecast by VDMA to show no real growth in 2026; equipment investment growth is forecast at 0.2%.
- Record revenue and earnings rebound, but delayed projects restrained cash flow and shape 2024 risks.MUB
H2 2023 - Revenue held near flat, but H1 earnings and order intake fell sharply.MUB
H1 2024 - Record revenue masked a steep EBIT decline amid project losses and market disruption.MUB
H2 2024 - Higher H1 operating profit offset softer revenue, orders and backlog.MUB
H1 2025 - Revenue fell 7.3%, while EBIT more than tripled amid restructuring and market turbulence.MUB
H2 2025
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