Ringmetall (HP3A) H1 2026 earnings summary

Executive summary

• Revenue increased by 3.8% year-over-year to EUR 101.1 million in H1 2026, driven mainly by acquisitions despite challenging market conditions.

• EBITDA rose 9.0% to EUR 13.3 million, with margin improving to 13.1% from 12.5% in H1 2025.

• Gross profit climbed 5.7% to EUR 55.1 million, reflecting improved operational efficiency.

• Acquisitions of Makplast, New England Plastics, and increased stake in Evopack strengthened the Liner division and contributed significantly to revenue and profitability.

• The company raised the lower end of its 2026 revenue and EBITDA guidance, reflecting confidence despite subdued demand.

Financial highlights

• H1 2026 revenues reached EUR 101.1 million (+3.8% YoY); gross profit was EUR 55.1 million (+5.7% YoY).

• EBITDA margin improved to 13.1% (up from 12.5% YoY).

• Liner division revenue grew 15.3% to EUR 44.5 million; Closure Systems revenue declined 3.8% to EUR 56.5 million.

• Gross margin increased to 54.4%.

• One-off restructuring costs and interest income spikes impacted results.

Outlook and guidance

• Full-year 2026 revenue forecast raised to EUR 195–210 million, with EBITDA guidance at EUR 23–28 million.

• Liner division and M&A activities are primary growth drivers for the remainder of the year.

• Forecast excludes potential effects from further acquisitions in 2026.

• Volumes expected to remain stable in H2; no organic growth anticipated in Closure Systems.

• Tesseraux SA set-up in South Africa to be implemented in coming months.