Voltatron (VOTR) Q2 2026 earnings summary

Executive summary

• Revenue from continuing operations surged 166% year-over-year to €24.6 million in H1 2026, driven by acquisitions, organic growth, internationalization, and M&A activities.

• Adjusted EBITDA rose to €1.4 million, with a margin of 5.6%, reflecting improved operating earnings despite significant upfront investments.

• Integration of KOMITEC electronics GmbH and expansion of operational capabilities positioned the group for future growth.

• Major order in industrial electromobility was secured, providing revenue visibility and strengthening the reference base, with a five-year minimum term and annual order volume exceeding €10 million.

• The KOMITEC acquisition contributed a €1.1 million non-cash bargain purchase gain, positively impacting reported EBITDA.

Financial highlights

• Operating gross profit from continuing operations increased to €11.8 million, with a margin of 48.0%.

• EBITDA from continuing operations reached €2.4 million (9.9% margin); adjusted EBITDA was €1.4 million (5.6% margin).

• EBT from continuing operations was €-1.0 million, impacted by higher depreciation, amortization, and financing costs; adjusted EBT was €-0.2 million (margin: -0.9%).

• Net income from continuing operations was €-0.9 million; EPS was €-0.04.

• Cash flow from operating activities was €-0.7 million, reflecting increased working capital tied to inventory build-up and KOMITEC consolidation.

• Total assets rose to €63.8 million as of June 30, 2026; equity increased to €5.0 million, and economic equity reached €44.9 million.

Outlook and guidance

• FY 2026 revenue expected between €47 million and €51 million.

• Operating gross profit margin forecasted at 37%–44%; adjusted EBITDA margin at 7%–10%; adjusted EBT margin at 3%–4%.

• IFRS EBT margin expected at approximately -2%.

• Guidance confirmed, assuming no material deterioration in macroeconomic or sector-specific conditions.