Biesse (BSS) Q3 2026 earnings summary

Executive summary

• Q3 revenue was €450.707m, down 6.6% YoY and 5.4% at constant exchange rates; adjusted EBITDA was €24.698m, with margin rising to 5.5% from 5.2%.

• Cost controls and contingency-plan savings helped offset lower revenue; reported EBIT was €3.585m versus a €6.668m loss, and net loss narrowed to €2.079m from €8.895m.

• Weak demand and limited visibility persisted; management expected Q4 improvement and easing working-capital absorption.

Financial highlights

• Revenue from sales and services was €450.707m versus €482.430m YoY; adverse FX impact was €5.5m, limiting the constant-currency decline to 5.4%.

• Adjusted EBITDA was €24.698m, down 2.1% YoY; adjusted EBIT was €5.219m versus a €1.925m loss, and reported EBIT was €3.585m versus a €6.668m loss.

• Gross margin rose to 53.1% from 52.9%, including a 0.3-point mix/pricing benefit partly offset by a 0.1-point FX impact.

• Net loss was €2.079m versus €8.895m in Q3 2025; personnel expense fell 6.2% to €160.090m.

Outlook and guidance

• FY 2026 sales were expected at €620m–€650m; Q4 order intake and sales were expected to increase, with year-end cash generation targeted.

• Working-capital absorption was expected to ease in Q4, with positive recovery by year-end; year-end net financial position was expected near €20m excluding IFRS 16.

• Maintaining CapEx was expected at €20m–€25m; an additional €10m–€20m could be invested depending on projects and market conditions.

• 2027 outlook remained cautious, with stabilization more evident in wood than in glass and stone; strategic initiatives were expected to generate benefits over 12–24 months, subject to stabilization.

• 2026–2028 priorities included service leadership, commercial expertise, product innovation, digital transformation and operational flexibility.