Allgeier (AEIN) Q2 2026 earnings summary

Executive summary

• Revenue from continuing operations rose 10% year-over-year to €161.9m in H1 2026, with value creation up 11% to €59.2m and adjusted EBITDA up 6% to €17.6m, though the margin declined to 10.5% due to strategic investments and one-off costs.

• Gross profit increased to €59m, with gross margin improving to 36% from 35% year-over-year.

• EBIT was €4.1m, while net income from continuing operations doubled to €1.0m, reflecting lower net interest expenses and ongoing investments in AI-driven business models.

• The group divested Allgeier Engineering GmbH in May 2026, incurring a €2.4m loss, and continued to invest over €10m in modernizing software and expanding AI capabilities.

• Adjusted EBITDA reached €17.6m, while reported EBITDA was €14.9m due to €2.6m in extraordinary costs.

Financial highlights

• Revenue: €161.9m (+10% YoY); Value creation: €59.2m (+11% YoY); Adjusted EBITDA: €17.6m (+6% YoY); Adjusted EBITDA margin: 10.5% (down from 11.0%).

• Reported EBITDA: €14.9m (down 1% YoY); EBIT: €4.1m (down 13% YoY); Net income: €1.0m (up from €0.5m YoY).

• Adjusted EPS: €0.10 (up from €0.05 YoY); Net debt increased to €74m (from €54m at year-end 2025).

• Cash and cash equivalents stood at €35m as of June 30, 2026, down from €42m at year-end 2025.

• €8.5m was used for treasury share repurchases, with 3.97% of shares held as treasury stock at June 30, 2026.

Outlook and guidance

• Guidance for FY 2026 confirmed: revenue of €335–375m and adjusted EBITDA of €46–52m, with a margin of 13.0–13.5%.

• Forecast based on organic growth; further acquisitions could boost revenue and earnings.

• Market trends remain positive for software, cloud, and AI, with robust demand expected despite macroeconomic headwinds.