Bystronic (BYS) Q2 2026 earnings summary

Executive summary

• Order intake reached CHF 337.7 million, up 15.7% year-over-year at constant exchange rates, driven by Bystronic Rofin and organic growth of 3.8%.

• Net sales were CHF 302.9 million, up 5.4% at constant exchange rates, but declined organically by 6.9%.

• EBIT was negative at CHF -23.4 million, mainly due to low Q1 volumes and ramp-up costs for new automated manufacturing lines.

• Bystronic Rofin integration exceeded expectations, contributing positively, especially in semiconductor and MedTech markets.

• Strong backlog of CHF 308 million at mid-year, the highest since 2023, expected to support higher H2 net sales.

Financial highlights

• H1 net sales totaled CHF 303 million, with CHF 36 million from Rofin; EBIT loss of CHF 23.4 million, net result CHF -25.4 million.

• Operating free cash flow was CHF -56.6 million, impacted by higher inventories and receivables.

• Equity ratio stood at 66% as of June 30, 2026, down from 70% at 2025 year-end.

• EBIT margin declined to -7.7% from -2.6% year-over-year.

• Average FTE increased to 3,064 from 2,940 year-over-year.

Outlook and guidance

• H2 net sales expected to exceed H1, supported by strong backlog; full-year net sales projected to surpass prior year, mainly due to Rofin.

• Profitability is not expected to improve compared to the previous year.

• Core business top-line likely to be flattish year-over-year in H2; midterm EBIT margin target of 5%-7% remains, contingent on volume recovery.

• EBIT break-even targeted for one quarter in 2026, with full-year break-even possible in 2027 if order intake continues to recover.

• Market conditions expected to remain challenging for the rest of 2026.