SCHMID Group (SHMD) Q2 2026 Earnings Call: Orders Accelerate, Margin Guidance Cut
Source Tradingkey
Key Takeaways
- SCHMID Group reported revenue of EUR 27.8 million in Q2 2026, up from EUR 18.2 million in Q1, after a weaker-than-expected start to the year.
- H1 2026 equipment revenue increased to EUR 39.4 million from EUR 10.7 million a year earlier, while spare parts and services revenue rose to EUR 6.4 million from EUR 5.9 million.
- Gross margin was 21.2%, constrained by lower scale and a higher share of lower-margin China production. Management expects the regional mix to shift toward German production in H2.
- Order intake reached EUR 52.3 million in Q3 and EUR 96.6 million year to date, driven by flip-chip BGA substrate and AI server board capacity investments. The order backlog stood at a record EUR 89 million.
- Full-year revenue guidance remains at least EUR 100 million, but adjusted EBITDA margin guidance was lowered from more than 12% to 6%-9%. Management expects order intake to finish in the upper half of the EUR 125 million-EUR 150 million range.
- SCHMID reduced debt from EUR 53 million to approximately EUR 23 million following a EUR 30.75 million debt-to-equity swap. The company said it does not expect to require new equity financing over the next six months.
Key Financial Data
| Metric | Reported figure | Context |
|---|---|---|
| Q1 2026 revenue | EUR 18.2 million | Weaker than management expected |
| Q2 2026 revenue | EUR 27.8 million | Increased from Q1 |
| H1 equipment revenue | EUR 39.4 million | Versus EUR 10.7 million in H1 2025 |
| H1 spare parts and services revenue | EUR 6.4 million | Versus EUR 5.9 million a year earlier |
| H1 gross margin | 21.2% | Affected by lower scale and China production mix |
| H1 foreign-exchange result | EUR 1.7 million loss | Versus a EUR 6.3 million gain in H1 2025 |
| H1 operating cash outflow | EUR 29.3 million | Mainly due to EUR 26 million invested in working capital |
| H1 capital expenditure | Approximately EUR 0.8 million | Typical annualized CapEx is about EUR 1.5 million |
| Debt | Approximately EUR 23 million | Reduced from EUR 53 million |
| Year-to-date order intake | EUR 96.6 million | Includes EUR 52.3 million in Q3 |
| Order backlog | EUR 89 million | Described by management as a record level |
Business and Operating Performance
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