Mensch und Maschine Software (MUM) Q2 2026 earnings summary

Executive summary

• Achieved record sales of EUR 130.75 million in H1 2026, up 8.2% year-over-year, with strong Software segment growth and disciplined cost management supporting profit growth despite temporary headwinds.

• Gross profit reached EUR 95.09 million (+1.9%), EBIT hit EUR 28.14 million (+5.2%), and net profit for H1 2026 was EUR 18.17 million (+2.7%), with EPS at 1.11 EUR (+5.0%).

• Operating cash flow rebounded to EUR 25.53 million, up from EUR 14.69 million in the prior year.

• The company confirmed its short- and medium-term targets, including a goal to double earnings within five years.

Financial highlights

• Software segment EBIT grew 19% year-over-year in H1 2026, while Digitization EBIT declined 27%.

• Record dividend for 2025 was 200 cents per share (+8%), with a 10-year dividend CAGR of 23%.

• 2025 full-year net profit was EUR 31.81 million (+5.9%), EPS 1.91 EUR (+5.9%).

• Equity ratio at 38.5% (down from 42.1% at year-end 2025); total assets EUR 197.89 million.

• Net profit margin: 13.9% (H1 2025: 14.6%).

Outlook and guidance

• 2026 targets reaffirmed: EPS of 2.11–2.26 EUR (+11–19%), EBIT of EUR 54.5–58.5 million.

• Planned dividend of 2.20–2.40 EUR per share if targets are met.

• Mid-term organic growth target: profit doubling in 5 years (>+15% per year), aiming for EPS above 3.80 EUR by 2030.

• Annual growth targets until 2030: Gross profit +8% (spread +6% to +10%), EBIT/EPS/dividend +15% (spread +11% to +19%).

• Strategy based on strict cost control and organic growth for sustainable profitability.