Lumibird (LBIRD) H1 2026 earnings summary

Executive summary

• Revenue grew by 7.4% year-over-year to €114.7M, with constant currency growth at 9.7%.

• Photonics division revenue rose 15.3%, with EBITDA up 20.2%.

• Net income was €5.1M, representing 4.5% of revenue.

• Medical division revenue was stable at €55.6M, with growth expected in H2 2026 due to new product launches.

• The group maintained strong industrial efficiency and a solid financial position, with net financial debt at €92.6M and €58.2M in cash.

Financial highlights

• Group EBITDA was €20M (17.5% of revenue), nearly flat year-over-year.

• Operating income was €8.6M, down €0.5M year-over-year.

• Gross margin rose 2.6% to €71.4M, but margin rate declined to 62.2% from 65.1%.

• Financial result improved to -€1.5M from -€2.7M, mainly due to lower financial charges and favorable currency effects.

• Cash flow from operations was €11.1M; free cash flow positive at €2.3M.

Outlook and guidance

• Strong Photonics growth, a 20.2% increase in EBITDA, and a record order book support confidence in continued profitable growth.

• Medical division expects acceleration in H2 2026, driven by new product launches.

• The planned sale of the Medical division will refocus the group on photonics and enhance agility and investment capacity.

• The Medical division sale is expected to close in Q4 2026, subject to regulatory approvals.