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Stadler Rail (SRAIL) investor relations material
Stadler Rail H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased 40% year-over-year to CHF 2.0 billion in H1 2026, with EBIT margin rising to 4.0% from 2.6% in H1 2025 and EBIT more than doubling to CHF 79.5 million.
Order intake reached CHF 2.7 billion, and order backlog hit a record CHF 33.3 billion.
Net profit was CHF 31.2 million, slightly above the prior year, despite negative currency effects and higher costs.
Major contracts secured in Berlin, Copenhagen, Ireland, Montenegro, and Turkey, expanding global reach to 50 countries.
Operational focus on digitalization, process harmonization, supply chain stabilization, and capacity expansion.
Financial highlights
Net revenue: CHF 2.0 billion (H1 2025: CHF 1.4 billion), up 40%.
EBIT: CHF 79.5 million (H1 2025: CHF 36.9 million); EBIT margin: 4.0% (H1 2025: 2.6%).
Net income: CHF 31.2 million; higher tax impact and less favorable FX compared to prior year.
Free cash flow: CHF -54.4 million, a significant improvement year-over-year, including CHF 50 million dividend payment.
Net cash position: CHF -424 million, reflecting use of down payments for production and investments.
Outlook and guidance
Full-year 2026 revenue expected to exceed CHF 5 billion, with EBIT margin over 5%.
Medium-term EBIT margin target: 6%-8%, with revenue above CHF 5 billion.
Investments for 2026 projected at CHF 250 million; mid-term annual CapEx around CHF 200 million.
Order intake expected at 1x-1.5x annual revenue, supporting sustainable growth.
High single-digit revenue growth expected for 2027, with over 95% of 2026-2027 revenue already in backlog.
- Record order backlog and rising profitability support a strong outlook for 2026.SRAIL
H2 2025 - Revenue and EBIT margin increased, but cash flow remained negative amid supply chain issues.SRAIL
H1 2025 - Order intake dropped, backlog and profit up, EBIT margin down, outlook confirmed.SRAIL
H1 2024 - Production delays from 2024 disruptions are offset by innovation and US-led growth.SRAIL
CMD 2025 - Disasters cut 2024 revenue and EBIT, but order backlog and outlook remain strong.SRAIL
H2 2024
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