JOST Werke (JST) Q2 2026 earnings summary

Executive summary

• Achieved record H1 2026 with sales up 12.1% to €857.3 million and adjusted EBIT up 21% to €88 million, margin at 10.3%, driven by strong organic growth and Hyva integration synergies.

• Organic sales grew 9% across all regions and business lines, with market share gains and diversification.

• Net debt reduced by €61.3 million to €380.2 million, leverage ratio improved to 1.81x, and equity ratio rose to 26.9%.

• Free cash flow in Q2 was €17 million, with H1 impacted by working capital build but expected to improve.

• Earnings after tax increased 62.7% to €32.4 million; adjusted earnings after tax up 17.9% to €52.9 million.

Financial highlights

• Q2 2026 sales up 13% to €440.2 million; adjusted EBIT up 19% to €43.9 million, margin at 10%.

• Adjusted EBITDA for H1 2026 was €113.3 million (+20%), margin at 13.2%.

• Adjusted net income in H1 up 18% to €53 million; adjusted EPS up 10% to €3.29.

• Free cash flow for H1 was €16 million, reflecting working capital build.

• Rolling 12 months: sales €1,627 million, adjusted EBIT €160 million, margin 9.8%.

Outlook and guidance

• FY 2026 outlook confirmed: single-digit sales growth, mid-to-high single-digit adjusted EBIT growth, margin above 2025’s 9.5%.

• CapEx expected at 2.8% of sales; working capital targeted at 17.5%-18.5% of sales.

• Market outlook: slight recovery in Europe, strong truck demand in Americas, continued growth in APAC.

• Confident in achieving upper end of guidance, supported by synergies and market momentum.

• Leverage ratio expected to remain below 2.0x.