Nabaltec (NTG) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose 7% year-over-year to EUR 55.3 million, with sales volumes up 8.3% but average prices slightly lower.

• EBIT for Q2 2026 fell 19.3% to EUR 3.8 million, with margin dropping to 7.2% from 9.3% due to higher energy and depreciation costs.

• Order backlog at end of June 2026 reached EUR 52.2 million, mainly for the second half of 2026.

• U.S. operations, especially Naprotec, showed strong improvement, gaining market share and expanding its customer base.

• Export ratio remained high at 73.9%, with notable growth in the US and Asia.

Financial highlights

• First half 2026 revenue increased 1.9% year-over-year to EUR 108.6 million.

• Gross profit for H1 2026 was EUR 53.5 million, down 3.7% year-over-year, mainly due to higher energy costs; margin declined to 50.8% from 52.4%.

• EBITDA for H1 2026 was EUR 13.8 million (margin 13.1%), down from EUR 14.6 million (margin 13.7%) in H1 2025.

• Earnings per share for H1 2026 were EUR 0.50, down from EUR 0.67 year-over-year.

• Net debt at June 30, 2026 was EUR 3.9 million, with cash and cash equivalents at EUR 90.9 million.

Outlook and guidance

• Revenue growth for 2026 is guided at 4%-6%, with EBIT margin expected between 5%-7%.

• Order books and backlog indicate market stabilization and a cautiously optimistic outlook for H2 2026.

• Energy costs and depreciation remain key risks to margin.

• Demand volatility and geopolitical risks, including inflation and high interest rates, persist.