LPKF Laser & Electronics (LPK) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue fell 28.1% YoY to EUR 60.3m; EBIT was EUR -12.8m and adjusted EBIT EUR -8.9m, mainly reflecting Solar delays and the absence of a prior-year Welding contract.

• Q3 revenue was EUR 23.9m, down 4% YoY, while EBIT improved to EUR 1.3m from EUR -1.6m and adjusted EBIT to EUR 1.6m from EUR -0.1m.

• Advanced Packaging is progressing toward ramp-up orders; North Star measures support the sustainable double-digit EBIT margin ambition for 2028.

Financial highlights

• 9M revenue was EUR 60.3m versus EUR 83.9m; EBIT was EUR -12.8m versus EUR -3.3m, and adjusted EBIT EUR -8.9m versus EUR -0.8m.

• Incoming orders were EUR 65.1m versus EUR 65.4m; order backlog was EUR 31.9m versus EUR 32.5m at September 30.

• 9M net loss was EUR 13.7m versus EUR 5.0m; diluted EPS was EUR -0.56 versus EUR -0.24.

• Free cash flow was EUR -11.7m versus EUR -5.4m; operating cash flow was EUR -8.1m versus EUR 0.0m.

• North Star had contributed ~EUR 5m of positive EBIT impact by Q3; annual savings are expected to exceed EUR 8m, with benefits phased in progressively.

Outlook and guidance

• FY2026 revenue guidance was reduced to EUR 93m–EUR 100m from EUR 105m–EUR 120m; adjusted EBIT margin guidance is -7.0% to -2.5%, equivalent to adjusted EBIT of EUR -6.5m to EUR -2.5m.

• The 2028 ambition remains a sustainable double-digit consolidated EBIT margin; North Star targets EUR 16m total EBIT impact at full implementation.

• FY2026 restructuring costs are expected at 3–4% of revenue; no significant near-term growth impulses are expected amid economic uncertainty.

• A significant Solar deal is highly likely to shift into 2027 pending Chinese government approval; the customer is financed and wants to proceed.