SCHMID (SHMD) Q2 2026 earnings summary

Executive summary

• H1 2026 featured significant transformation, including balance sheet repair, cost reductions, and strong order momentum, with revenue reaching €46.0 million, up from €16.9 million year-over-year.

• Major restructuring and cost-saving initiatives, such as the Sprint program, reduced German overhead by over 40 FTEs and €4 million annually.

• Solid financing structure established with €33 million new capital and €31 million debt reduced via swap.

• New China manufacturing campus and Malaysian facility operational, supporting global expansion.

• Net income heavily impacted by non-cash effects from debt-to-equity conversions and warrant revaluations.

Financial highlights

• H1 2026 revenue reached €46.0 million, up from €16.9 million in H1 2025, with equipment revenues rising sharply to €39.4 million and spare parts/services to €6.4 million.

• Gross profit margin at 21.2%, lower than expected due to higher China weighting and lower German production.

• Net loss widened to €47.8 million, mainly due to non-cash financial result losses and liability conversions.

• Adjusted EBITDA improved to €-0.6 million from €-6.3 million, reflecting restructuring and share-based compensation.

• Cash and cash equivalents were €2.3 million at June 30, 2026, rising to €14.3 million after a $20 million convertible note in July.

Outlook and guidance

• Revenue guidance for FY 2026 confirmed at at least €100 million.

• Adjusted EBITDA margin guidance revised to 6–9% (was >12%) due to weaker H1 and product mix.

• Order intake guidance for 2026 set at €125–150 million, expected at the upper end.

• Most remaining 2026 order intake already in negotiation.

• Anticipates higher-margin product mix and improved German plant performance in H2 2026.