LapWall (LAPWALL) Q2 2026 earnings summary

Executive summary

• Revenue for H1/2026 grew 24% year-over-year to €23.3M, driven by industrial and non-residential construction projects, with EBITA up 80% to €2.0M and EBIT up 133% to €1.6M.

• Order backlog reached a record €25.4M at period end, up 26% year-over-year, providing strong visibility for the remainder of 2026.

• Major investment in the Pyhäntä plant reached 95% completion by June 2026, supporting future growth and efficiency.

• Growth was achieved despite a challenging overall market, with industrial and data center segments leading demand, while residential demand remained weak.

Financial highlights

• Q2/2026 revenue was €12.3M, up 27.2% year-over-year; H1/2026 revenue was €23.3M, up 24%.

• EBITDA for H1/2026 was €2.6M (11.1% margin), up 57.1% year-over-year; EBITA for H1/2026 was €2.0M (8.6% margin), up 80.1% year-over-year.

• Net profit for H1/2026 was €1.0M, up 105% year-over-year; EPS €0.07 (vs. €0.03).

• Order backlog at end of June 2026 was €25.4M, up 26.2% year-over-year.

• Operating cash flow was €4.6M (vs. -€59k), with investments of €2.9M and financing outflows of €1.9M.

Outlook and guidance

• FY2026 revenue guidance is €49–54M; EBITA guidance is €4.8–5.8M.

• H2/2026 requires higher revenue (€25.7–30.7M) and EBITA (€2.8–3.8M) to meet full-year targets.

• Strong order backlog and new contracts support delivery targets for the rest of 2026.

• Growth is expected from industrial and data center projects, not dependent on residential market recovery.

• Long-term target for 2030: €100M revenue and 15–20% EBITA margin.