Tamtron Group (TAMTRON) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 decreased by 2.9% year-over-year to €23.6 million, with profitability pressured by higher personnel and fixed costs, resulting in a net loss of €1.5 million and negative operating profit.

• Sales margin (gross margin) improved to 63.2% from 60.9%, driven by product and service mix.

• Growth achieved in markets outside Finland, with service business showing stable organic growth.

• New regional organization and key recruitments implemented to enhance agility and efficiency.

• Acquisition of Teknoscale Oy in June 2026 expanded the On-Board offering and international growth opportunities.

Financial highlights

• Revenue for H1 2026 was €23.6 million, down 2.9% year-over-year; organic revenue change excluding acquisitions was -13.7%.

• EBITDA decreased by 56.8% to €843 thousand, with EBITDA margin dropping to 3.6% from 8.0% in H1 2025.

• Adjusted operating profit was €122 thousand (margin 0.5%), while operating profit fell to -€1.0 million, impacted by goodwill amortization.

• Net loss widened to -€1.5 million (vs. -€363 thousand year-over-year).

• Order backlog declined 20.7% year-over-year to €10.4 million.

Outlook and guidance

• H2 2026 expected to be stronger than H1, supported by gradual recovery in domestic On-Board market, positive development in international markets, and effects of efficiency measures.

• 2026 revenue is expected to be at 2025 levels, but EBITDA is projected to decline.

• Previous guidance anticipated revenue above €58 million and EBITDA above €6 million.

• Uncertainties remain due to international market challenges, timing of customer investments, long sales cycles, and geopolitical risks.