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Montana Aerospace (AERO) investor relations material
Montana Aerospace Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 2026 net sales rose 11.7% to €518.4m; EBITDA increased 12.2% to €87.1m, supported by organic growth, higher volumes, and Aerostructure market-share gains.
Result from continuing operations improved to €29.7m from a €2.4m loss; EPS rose to €0.47 from -€0.04 in H1 2025.
Commercial aerospace order book exceeded €7bn, with coverage across commercial and defense platforms; defense and space add growth opportunities.
Vertical integration supports customer lead times, cost competitiveness, and supply-chain resilience.
Financial highlights
EBIT increased 22.3% to €40.1m from €32.8m; EBIT margin rose to 7.7% from 7.1%.
Free cash flow reached €67.3m, up from €1.0m in H1 2025; it included Energy divestment proceeds.
Operating cash flow was €26.4m, down from €38.5m, mainly due to lower factoring; investing cash flow was €40.9m, including Energy segment loan repayments.
Net cash from financing activities was -€87.5m, mainly due to repayment of interest-bearing liabilities; the equity ratio improved to 66.3% from 62.5% at year-end 2025.
Outlook and guidance
FY 2026 guidance reiterated: net sales above €1bn and adjusted EBITDA above €185m; group EBITDA margin ~18%, with Aerostructure margin in the 19% range.
FY 2027 guidance reiterated: net sales above €1.1bn and adjusted EBITDA above €210m; free cash flow targeted in the low triple-digit millions.
Cash conversion targeted at ~50% in 2026 and above 50% in subsequent years; positive net cash is expected by year-end 2026.
At least €50m of additional Energy divestment proceeds expected in H2 2026; FY 2027 outlook to be reviewed in Q3 or early Q4 as opportunities develop.
- Double-digit sales and EBITDA growth driven by integration, innovation, and global reach.AERO
Company presentation - Q1 2026 delivered strong sales, margin expansion, positive cash flow, and reaffirmed guidance.AERO
Q1 2026 TU - Double-digit sales and EBITDA growth, reduced leverage, and strong aerospace outlook.AERO
H2 2025 - Achieved 15.8% sales growth in 2024, targeting over €1bn sales by 2026.AERO
Company presentation - Net sales up 15.5% and EBITDA up 28.6% after Energy divestment, with strong 2026 outlook.AERO
Q3 2025 - Net sales up 18.8%, EBITDA up 56.1%, with key divestiture and acquisition shaping outlook.AERO
Q3 2024 - Sales up 17.2%, EBITDA margin at 11.0%, E-Mobility divested, and guidance reaffirmed.AERO
H1 2024 - Q1 2025 saw 15% sales growth, margin expansion, and strong segment contributions.AERO
Q1 2025 - Strong 2024 sales and EBITDA growth support a positive outlook for 2025–26.AERO
H2 2024
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