Novem Group (NVM) Q3 2026 earnings summary

Executive summary

• Q3 2025/26 revenue declined 5.0% year-over-year to €117.9m, mainly due to reduced Tooling revenue from project delays, fewer working days, and adverse FX effects; YTD revenue fell 7.7% to €372.4m.

• Series business remained stable (+0.1% y/y), while free cash flow was strong at €21.3m in Q3 and €38.5m YTD, significantly above prior year.

• Adjusted EBIT fell to €22.2m (6.0% margin) YTD, down from €36.2m (9.0% margin) y/y, reflecting weaker top-line and higher restructuring costs.

• Additional cost-saving and restructuring initiatives, including voluntary severance schemes in Germany and major downsizing in Europe and Asia, were implemented.

• Achieved greenhouse gas neutrality in Germany by end of 2025, with targets for Europe by 2030 and worldwide by 2035.

Financial highlights

• Q3 2025/26 revenue: €117.9m (down from €124.0m y/y); Adj. EBIT: €6.8m (down from €10.0m y/y); Adj. EBIT margin: 5.8% (down from 8.1% y/y).

• YTD 2025/26 revenue: €372.4m (down from €403.5m y/y); YTD Adj. EBIT: €22.2m (down from €36.2m y/y); YTD Adj. EBIT margin: 6.0% (down from 9.0% y/y).

• Free cash flow: €21.3m in Q3, €38.5m YTD (up from €1.3m and €11.2m y/y); net leverage: 1.8x Adj. EBITDA (improved from 2.1x y/y).

• Profit for the period rose to €17.4m from €8.8m y/y, driven by a positive financial result.

• Cash and cash equivalents increased to €169.9m (from €130.4m y/y); gross financial debt reduced to €290.5m (from €303.5m y/y).

Outlook and guidance

• Performance remains under pressure due to market headwinds, but strong cash conversion and ongoing cost control and restructuring initiatives support profitability.

• Focus remains on achieving greenhouse gas neutrality in Europe by 2030 and globally by 2035.