LEM (LEHN) Q2 2027 earnings summary

Executive summary

• H1 2026/27 sales rose 17.7% to CHF 174.557m, while orders received increased 34.4% to CHF 201.7m; book-to-bill was 1.16.

• EBIT increased 126.3% to CHF 25.724m, net profit rose 182.9% to CHF 19.216m, and free cash flow reached CHF 19.9m.

• Q2 sales increased 23% YoY to CHF 89m; EBIT rose 85% and net profit more than doubled.

Financial highlights

• H1 gross profit rose to CHF 70.488m from CHF 58.751m; gross margin improved 80 bps to 40.4%.

• Free cash flow increased to CHF 19.9m from CHF 5.6m, supported by stronger cash conversion and disciplined working-capital and capex management.

• Q2 sales were CHF 89m, EBIT CHF 13m and net profit CHF 10m, versus CHF 4.8m a year earlier.

Outlook and guidance

• FY 2026/27 sales guidance is CHF 310m–330m, with EBIT margin expected in the low-to-mid teens; H2 is expected to be weaker than H1 amid seasonality and supply constraints.

• Medium-term ambitions remain 4%–7% annual sales growth at constant exchange rates and a 10%–15% EBIT margin.

• H1 R&D spend was 7.2% of sales; next year’s R&D intensity is not expected to move materially from that level.