Lumibird (LBIRD) H1 2026 earnings summary

Executive summary

• H1 revenue reached €114.7m, up 7.4% year over year and 9.7% at constant exchange rates.

• Photonics revenue rose 15.3% to €59.1m, with EBITDA up 20.2% to €9.8m.

• Medical revenue was stable at €55.6m; H2 momentum is expected from planned product launches.

• EBITDA was €20.0m, down 1.1% year over year; net income rose 4.5% to €5.1m.

• The Medical division sale is planned to close in Q4 2026, subject to customary conditions.

Financial highlights

• Gross profit rose 2.6% to €71.4m, while gross margin declined to 62.2% from 65.1%.

• Operating income was €8.6m, down 5.4% year over year; current operating income was €9.3m, down 3.2%.

• Financial result improved to -€1.5m from -€2.7m, amid lower financial charges and favorable currency effects.

• Cash flow from operations was €11.1m; net cash flow was -€3.3m and free cash flow was €2.3m, versus -€0.1m a year earlier.

• Self-financing capacity was €19.7m, up 0.6%; net R&D and industrial investment cash outlays were €8.7m, up 11.0%.

Outlook and guidance

• Strong Photonics growth, a record order book and program ramp-ups support confidence in continued profitable growth.

• Sale of the Medical division is expected to close in Q4 2026, subject to closing conditions and regulatory approvals.

• Medical expects H2 momentum, supported by three planned product launches.