LEM (LEHN) Q3 2026 earnings summary

Executive summary

• Sales at constant currency rates increased 0.2% year-over-year for the first nine months of 2025/26, while reported sales in CHF declined 5.4% to CHF 218.4 million due to currency headwinds.

• Key growth segments, Automation and Automotive, grew 6.8% and 5.7% respectively at constant currency.

• Bookings stabilized at CHF 215.5 million with a book-to-bill ratio of 0.99, indicating positive momentum in Automation and Energy Distribution & High Precision.

• Gross margin stabilized at 39.8% year-to-date, supported by strategic pricing and supply productivity gains.

• Net profit remained stable at CHF 12.1 million, with a net profit margin of 5.5%.

Financial highlights

• Reported sales declined 5.4% year-over-year to CHF 218.4 million; at constant currency, sales were flat (+0.2%).

• Gross profit margin was 39.8%, down from 43.6% the previous year.

• EBIT reached CHF 18.5 million (8.5% margin), including CHF 1.3 million in restructuring costs; EBIT before restructuring was CHF 19.8 million (9.1% margin).

• SG&A reduced by 12.8%, and R&D costs declined by 24.6% to CHF 20.2 million (9.3% of sales).

• Financial expenses increased to CHF 3.6 million due to higher debt, while currency effects had a smaller negative impact than the prior year.

Outlook and guidance

• Sales guidance raised to CHF 275–290 million for FY 2025/26, up from CHF 265–290 million.

• Targeting a high single-digit EBIT margin for the full year, leveraging operational efficiency gains.

• Product launches expected to accelerate growth momentum over time.