Mikron (RXO) H1 2026 earnings summary

Executive summary

• Net sales for H1 2026 were CHF 180.5 million, down 5.9% year-over-year, mainly due to adverse exchange rates and normalization in Automation after a strong prior year.

• Operating profit reached CHF 16.1 million (8.9% margin), down from CHF 21.6 million (11.3%) in H1 2025, but efficiency gains improved profitability despite lower turnover.

• Order intake for H1 2026 was CHF 134.5 million, higher than H2 2025 but 39.1% lower year-over-year.

• Strategic investments continue in new infrastructure, sustainability, and market expansion, including new locations in the U.S. and India.

• Net profit was CHF 13.8 million, a 24.2% decrease from CHF 18.3 million in H1 2025.

Financial highlights

• Net sales: CHF 180.5 million in H1 2026, down 5.9% year-over-year, or 3.5% at constant FX.

• Operating profit: CHF 16.1 million (8.9% margin), down from CHF 21.6 million (11.3%) in H1 2025.

• Tool segment sales increased by 12.6% (20% at constant FX), driven by new applications and expanded sales channels.

• Free cash flow improved to CHF 9.9 million from CHF -7.2 million in H1 2025.

• Equity ratio increased to 64.6% from 62.4% at year-end 2025.

Outlook and guidance

• Full-year 2026 sales forecast confirmed at CHF 340–380 million, with operating profit margin expected between 7% and 10%.

• EBIT guidance for 2027–2030 raised to 8–11%.

• Second half of 2026 expected to show similar performance to H1, with sales recovery anticipated in 2027.

• Growth initiatives in medical and e-mobility applications, and strategic focus on U.S. market recovery.