Novem Group (NVM) Q2 2026 earnings summary

Executive summary

• Total revenue for Q2 2025/26 was €125.5m, down 9.9% year-over-year, mainly due to weak market sentiment, project delays in Tooling, and currency headwinds.

• Revenue for HY 2025/26 declined by 8.9% year-over-year to €254.5m, with Series revenue stable and Tooling revenue volatile due to project phasing.

• Adjusted EBIT dropped to €15.4m (6.0% margin), reflecting lower sales and only partial offset from cost management.

• Free cash flow improved significantly to €17.2m, driven by strong Q2 performance and cost management initiatives.

• New business wins with McLaren and Harley-Davidson support diversification and strategic progress.

Financial highlights

• Q2 2025/26 revenue: €125.5m (down from €139.4m); HY 2025/26 revenue: €254.5m (down from €279.5m year-over-year).

• Adjusted EBIT for Q2: €7.7m (6.1% margin, down from 8.6%); HY: €15.4m (6.0% margin, down from 9.4%).

• Adjusted EBITDA: €31.1m (12.2% margin), down from €42.2m (15.1% margin).

• Net income: €18.3m, up from €11.2m; earnings per share: €0.43, up from €0.26.

• Free cash flow for HY: €17.2m (up from €0.6m prior year); Q2: €15.8m (up from €3.6m).

Outlook and guidance

• Ongoing soft demand, project delays, and currency headwinds are expected to continue pressuring performance.

• Cost control measures and diversification efforts are expected to further support profitability.

• No material subsequent events or changes in risk profile since 30 September 2025.