INDUS Holding AG: Strong Q2 Performance Expected

On July 28th, a research update from NuWays AG recommended a "BUY" for INDUS Holding AG. The report forecasted a double-digit growth in Q2 sales, estimating a 12% year-over-year increase to €486 million. This surge is attributed to Material Solutions benefiting from tungsten supply shortages and increased construction activity supporting Infrastructure growth.

Q2 adj. EBITA is projected to rise by 20.6% to €37.6 million, with a margin expanding to 7.6%. Engineering is anticipated to grow 7.5% in revenue but may face a margin drop due to sector challenges. Infrastructure sales are expected to climb by 12.2%, enhancing EBITA by 13.3% with a 10.7% margin.

Material Solutions shows strong momentum, forecasting a 16% increase in sales to €164.6 million. The company’s management effectively handled tungsten supply issues, driving significant margin expansion. For FY26, INDUS forecasts sales of €1.92 billion and an adj. EBITA of €179 million.