IBU-tec advanced materials (IBU) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 increased by 4% year-over-year to €19.7 million, driven by strong growth in battery materials and specialty chemicals, despite declines in engineering and glass coating segments.

• EBITDA remained stable at €2.0 million, with an EBITDA margin of 10.2%. Net loss widened to €1.1 million due to higher depreciation and increased costs.

• Major strategic progress includes advancing the construction of a 15,000-ton LFP battery material plant in Bitterfeld-Wolfen, with trial operations set for Q4 2026 and full production by 2028.

• Secured long-term agreements with PowerCo SE, granting contractual rights to all LFP production capacity for at least ten years, underpinning future revenue growth.

Financial highlights

• Battery Material revenue grew 21% year-over-year to €5.9 million; Specialty Chemicals up 8% to €8.1 million.

• Glass Coating revenue fell 45% to €0.98 million; Engineering revenue dropped 70% to €48k.

• Total operating performance rose 16% to €22.6 million.

• Cash and cash equivalents surged to €9.7 million from €1.1 million, driven by advance payments for the PowerCo project.

• Free cash flow increased sharply to €9.8 million.

Outlook and guidance

• Full-year 2026 revenue expected at €37–39 million, with an EBITDA margin of 7–10%.

• By 2030, revenue is targeted at €120–140 million, with battery materials contributing €85–90 million and an EBITDA margin of 13–15%.

• Second half of 2026 will focus on LFP plant construction, with reduced capacity for other revenue streams.