Ponsse (PON1V) Q2 2026 earnings summary

Executive summary

• Order intake for H1 2026 rose 3.0% year-over-year to EUR 372.4 million, with Q2 order intake up 1.2% to EUR 179.2 million.

• Net sales for H1 2026 were EUR 353.9 million, down 1.1% year-over-year, but Q2 net sales increased 8.6% to EUR 187.1 million.

• Operating profit for H1 2026 was EUR 12.5 million (3.5% margin), down from EUR 20.6 million (5.7%) in H1 2025; Q2 operating profit rose 48.4% to EUR 10.9 million.

• Cash flow from operating activities improved significantly to EUR 19.1 million from EUR 4.6 million year-over-year.

• Order book at period-end declined 16.9% year-over-year to EUR 160.0 million.

Financial highlights

• Earnings per share for H1 2026 were EUR 0.43, down from EUR 0.58 year-over-year; Q2 EPS was EUR 0.34, up from EUR 0.06.

• Equity ratio at period-end was 58.6%, slightly lower than 60.1% a year earlier.

• Net interest-bearing liabilities increased to EUR 26.4 million, with net gearing at 7.9%.

• Return on capital employed (ROCE) for H1 2026 was 7.1%, down from 10.8% year-over-year.

• Cash and cash equivalents at period-end were EUR 53.7 million.

Outlook and guidance

• 2026 operating profit is expected to be on par with 2025 (EUR 41.6 million).

• Economic and geopolitical uncertainty continues to impact demand and investment decisions.

• Focus remains on cost discipline, selective investments in product development, digital services, and sales network expansion.