Pfeiffer Vacuum (PFV) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 increased by 1.3% year-over-year to €425.4 million, driven by strong demand in the semiconductor sector, offsetting declines in other markets.

• Order intake surged 61.7% to €587.6 million, with a book-to-bill ratio of 1.38, reflecting robust future demand.

• Operating income rose to €39.7 million (up €9.8 million), and net income after taxes increased to €25.9 million (up €7.5 million).

• Earnings per share climbed 41.4% to €2.63.

Financial highlights

• Gross profit declined to €158.6 million (from €161.8 million), with gross margin dropping to 37.3% from 38.5%.

• Operating margin improved to 9.3% from 7.1% due to positive currency effects.

• Net financial expenses decreased to -€3.5 million, reflecting lower interest costs.

• Equity increased to €568.4 million, with an equity ratio of 56.5%.

• Operating cash flow rose to €39.0 million, while cash and equivalents fell to €106.2 million.

Outlook and guidance

• Full-year 2026 revenue is expected to match 2025 levels (€850.1 million), with semiconductor demand offsetting weakness elsewhere.

• EBIT margin is forecasted to remain between 7% and 8%, assuming stable macro and geopolitical conditions.