Washtec (WSU) Q2 2026 earnings summary

Executive summary

• Achieved record H1 2026 revenue of €248 million, up 6.6% year-over-year, driven by strong Equipment sales in Europe and North America.

• EBIT for H1 was €17.7 million, stable year-over-year, with margin at 7.1%, impacted by efficiency program costs.

• Free cash flow for H1 declined to €13.7 million, mainly due to higher trade receivables.

• Net income for H1 was €11.3 million, unchanged year-over-year; EPS increased to €0.85 due to share buyback.

• New production plant opened in Nýřany, Czech Republic, enhancing capacity and efficiency.

Financial highlights

• Q2 2026 revenue reached €137 million, up 10.4% year-over-year; EBIT rose 9.4% to €13.9 million, with margin at 10.2%.

• Equipment revenue up 13.4% in H1 to €128.1 million; Service up 3.2% to €80.8 million; Consumables down 5% to €36.1 million.

• Free cash flow margin for H1 at 5.5%; Q2 free cash flow was €6.7 million, up 90% year-over-year.

• Equity ratio declined to 15.8–20% due to dividend and share buyback; net financial debt increased to €81.6 million.

• ROCE at 24.2%, slightly down from year-end but up year-over-year.

Outlook and guidance

• 2026 guidance confirmed: mid-single-digit revenue growth, EBIT to grow faster than revenue, free cash flow expected at €35–45 million, and ROCE to exceed 2025.

• Management expects efficiency project delays to be recovered in H2.

• Guidance excludes further significant economic deterioration or increased market volatility.

• Strong order backlog supports outlook, especially in North America.