Bystronic H1 26 results - Beat on orders and sales, but miss on bottom line

研报英文原文证据摘录

Bystronic H1 26 results - Beat on orders and sales, but miss on bottom line

Global Research

23 July 2026ab

First Read

EquitiesBystronic

H1 26 results - Beat on orders and sales, but miss Switzerland

on bottom line Building Materials

12-month rating Neutral

12m price target CHF155.00

Q: How did the results compare vs expectations?

A: Bystronic reported order intake of CHF338m, higher vs CHF309m in H1 25,

supported by the acquisition of Rofin in Q1. Orders were a strong beat vs UBS / Price (22 Jul 2026) CHF136.20

consensus expectations of CHF318/314m. Revenues were also a beat vs expectations RIC: BYS.S BBG: BYS SW

coming in at CHF305m, up 5.4% yoy in cc (cons: CHF286m/UBSe: 278m). The loss on

Trading data and key metrics

EBIT level was -CHF23.4m, significantly below UBSe/consensus, and showed

deterioration vs H1 25 (CHF-7.9m), as lower cost base was not able to compensate for 52-wk range CHF402.50-133.80

continued pricing pressure. Net income of -CHF25.4m also missed expectations vs UBSe/ Market cap. CHF0.28b/US$0.35b

cons of -CHF14.8/-14.5m. For Q2, orders and sales were 14%/11% above consensus Shares o/s 2.07m (BEAR)

expectations. There is a webcast today at 10am UKT / 11am CET (link here). Free float 80%

Avg. daily volume ('000) 3.82

Q: What were the most noteworthy areas in the results? Avg. daily value (m) CHF0.6

A: Sequentially, order income has slightly improved from CHF325m in H2 25, with Common s/h equity (12/26E) CHF0.56b

support from the Rofin acquisition (CHF35.5m contribution from Rofin on orders, and P/BV (12/26E) 0.5x

35.8m on sales). Geopolitical uncertainty and cautious investment behavior were Net debt to EBITDA (12/26E) 10.5x

mentioned to be affecting end markets. Following a weak Q1, Q2 stabilized on yoy

EPS (UBS, diluted) (CHF)

comparison.