Lumibird (LBIRD) H1 2026 earnings summary

Executive summary

• Revenue increased by 7.4% year-over-year to €114.7 million, with like-for-like growth at 9.7%.

• Photonics division drove growth, with revenue up 15.3% and EBITDA up 20.2%.

• Net income rose 4.5% to €5.1 million, despite procurement cost pressures.

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

• Sale of the Medical division is underway, aiming to focus the group on photonics.

Financial highlights

• Group EBITDA was €20.0 million, representing 17.5% of revenue, nearly flat year-over-year.

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

• Operating profit decreased by 5.4% to €8.6 million.

• Financial expenses improved to -€1.5 million from -€2.7 million, despite higher net debt.

Outlook and guidance

• Photonics division's strong order backlog and program ramp-ups support confidence in continued profitable growth.

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

• Sale of Medical division to complete in Q4 2026, focusing the group on photonics.