Friedrich Vorwerk Group (VH2) investor relations material

Executive summary

• Revenue for H1 2026 increased by 11.3% year-over-year to €337.3 million, with record profitability and strong cash conversion.

• Workforce expanded by 160 net new employees, reaching 2,402 as of June 30, 2026, supporting growth and project execution.

• Major projects in natural gas, hydrogen, and electricity segments are progressing well, with a robust project pipeline and high order book.

• International expansion includes a major contract in Kazakhstan and deployment of advanced welding technology.

• Plays a critical role in the clean energy transition, delivering advanced infrastructure solutions in natural gas, electricity, and hydrogen.

Financial highlights

• Q2 2026 revenue reached €199.3 million, up 17% year-over-year; H1 2026 revenue rose 11% to €337.3 million.

• EBITDA for Q2 2026 surged 68% to €60.8 million (margin 30.7%), and H1 2026 EBITDA totaled €92.6 million (margin 27.4%).

• EBIT in Q2 2026 increased 76% to €52.8 million (margin 26.7%), and H1 2026 EBIT rose 80% to €76.9 million.

• Production output (including JVs) grew 35% to €448.1 million in H1 2026.

• Net cash position improved to €212 million as of June 30, 2026, up from €83.5 million a year earlier.

Outlook and guidance

• 2026 EBITDA guidance raised to €180–200 million (previously €160–180 million), with revenue guidance maintained at €730–780 million.

• Strong order book and project pipeline support continued growth into 2027 and beyond.