Centiel (CNTL) H1 2026 earnings summary

Executive summary

• Achieved 37% year-over-year net revenue growth in H1 2026, reaching CHF 25.2m, with strong demand across all segments and successful global expansion initiatives.

• Completed merger with HT5 AG and listed on SIX Swiss Exchange in April 2026, enhancing visibility, financial flexibility, and access to capital for accelerated growth and international expansion.

• Entered the U.S. market with strategic partnerships, including a multi-year distribution agreement with Neo Critical Power LLC and the first order valued at USD 8.7 million, targeting data center customers and ramping up U.S. production in 2026.

• Expanded manufacturing capacity by 28% in 2026, with further expansion planned to support revenue targets exceeding CHF 100m.

Financial highlights

• Net revenue grew 37% year-over-year to CHF 25.2m in H1 2026 (H1 2025: CHF 18.4m).

• Gross margin expanded to 53.4% (H1 2025: 47.3%), driven by improved purchasing, pricing, and product mix.

• Adjusted EBIT margin rose to 20.9% (CHF 5.3m), up from 16.2% (CHF 3.0m) in H1 2025; reported EBIT was CHF 2.5m, impacted by CHF 2.8m in one-off listing and transaction costs.

• Adjusted profit for the period more than doubled to CHF 4.6m; reported profit slightly decreased to CHF 2.0m due to non-recurring costs.

• Net cash position at CHF 9.2m, with a 71% equity ratio, supporting ongoing expansion.

Outlook and guidance

• Net revenues expected to reach CHF 65m in 2026 and exceed CHF 100m in 2027, with EBIT margin above 20%.

• Full-year organic growth guidance remains at ~20%, excluding the U.S. opportunity.

• U.S. market entry and production ramp-up expected to drive additional growth in 2026 and 2027, with initial U.S. revenues anticipated in low double-digit millions CHF for 2026.

• Mid-term targets reaffirmed: 20%+ annual organic revenue growth and EBIT margin, with all proceeds reinvested and no dividends planned.

• Production capacity expansion under assessment to meet U.S. demand.