hGears (HGEA) Q3 2026 earnings summary

Executive summary

• 9M 2026 performance was in line with expectations; FY2026 guidance was reaffirmed amid challenging markets and limited visibility.

• Adjusted sales to third parties were €66.2m; adjusted EBITDA was €0.1m.

• Schramberg entered self-administration; operations and customer deliveries continued, while other subsidiaries were unaffected.

Financial highlights

• Adjusted sales to third parties fell to €66.2m from €69.6m; reported total revenue was €66.5m.

• Adjusted gross profit declined to €29.9m from €31.8m; adjusted gross margin was 44.9% vs. 45.6%.

• Adjusted EBITDA was €0.1m vs. €0.9m; personnel expenses fell €1.6m, or 6.7%, while negative FX effects weighed on results.

• Free cash flow improved to €0.6m inflow from €0.6m outflow; Schramberg-related cash effects helped, partly offset by higher investment outflows.

Outlook and guidance

• FY2026 guidance reaffirmed: revenue €80m–€90m, adjusted EBITDA negative €3m to break-even, and free cash flow negative €5m to negative €2m.

• Priorities include structural and efficiency measures, cost control, Schramberg restructuring and liquidity preservation; market visibility remains limited.