R. STAHL reports generally stable business development in the first quarter of 2026 – NEXUS program for the future launched

R. STAHL reports generally stable business development in the first quarter of 2026 – NEXUS program for the future launched

• Sales stabilize from January to March 2026 at € 73.4 million (previous year: € 73.3 million).
• As expected, order intake in the first quarter of 2026 below the record level of the previous year (€ 98.8 million) at € 77.2 million, but above order volume of the fourth quarter of 2025 (€ 68.5 million)
• Profitability up significantly compared to the previous year – EBITDA pre exceptionals improves in the first three months of 2026 from € 3.7 million in the previous year to € 6.7 million – resulting in an EBITDA margin pre exceptionals of 9.2% (previous year: 5.0 %)
• Forecast for full-year 2026 remains unchanged.

 

Waldenburg, 7 May 2026 – Global economic and geopolitical uncertainties continued to weigh on customers' willingness to invest in the first quarter of 2026. R. STAHL was able to stabilize sales and improve its profitability.

Order intake of € 77.2 million in the first quarter is below the very high level of the previous year, but above the previous quarter – order backlog of € 94.3 million

Despite to customers’ reduced willingness to invest, order intake from January to March 2026, at € 77.2 million, was at a good level, but significantly below the record level of the same quarter last year (€ 98.8 million). All sales regions contributed to the decline in order volume. The chemical industry and the plant and machinery engineering sectors, in particular, were very cautious about placing new orders in the first three months of the year. Compared to the fourth quarter of 2025 (€68.5 million), however, order intake recovered noticeably in the first quarter of 2026.

Order backlog as of 31 March 2026, rose to € 94.3 million compared to the end of 2025 (31 December 2025: € 90.9 million); however, it was down compared to the prior-year figure (31 March 2025: € 122.4 million).

Sales stabilized at € 73.4 million from January to March 2026

At € 73.4 million, sales in the first three months of 2026 were at the level of the same quarter of the previous year (€ 73.3 million). While the sales regions Germany (-13.6%), Central Europe (-10.2%) and the Americas (-14.5%) each reported declining sales, revenue from project orders carried over from the previous year contributed to a stabilization in Asia.

Profitability greatly improved – EBITDA pre exceptionals up from € 3.7 million to € 6.7 million

In the first three months of 2026, R. STAHL significantly improved its profitability compared to the previous year. This was primarily due to the effects of cost optimization measures that had already been launched in the previous year as well as the improvement measures initiated as part of the NEXUS program for the future. EBITDA (earnings before interest, taxes, depreciation and amortization) pre exceptionals increased by € 3.1 million to € 6.7 million in the first quarter of 2026. The company’s profitability, measured by the EBITDA margin pre exceptionals, rose from 5.0% in the prior year to 9.2%. Net profit improved by € 2.2 million to € -0.3 million (Q1 2025: € -2.5 million). This corresponds to earnings per share of € -0.04 (Q1 2025: € -0.39).

Free cash flow of € -3.9 million in the first three months of 2026 was at the same level as the previous year (Q1 2025: € -4.0 million). The higher net profit was offset by a sharper year-on-year increase in working capital of € 6.8 million (Q1 2025: € 2.0 million). The equity ratio was 28.4% as of 31 March 2026 (31 December 2025: 29.2%).

R. STAHL forecasts a stabilization of business for financial year 2026 – a slight decline in sales and earnings is anticipated

For 2026, the company anticipates a further decline in investment in its key markets of Germany and Europe, particularly in relevant sectors such as the chemical industry. Forecasting uncertainties primarily relate to the unpredictable developments and consequences of geopolitical conflicts, international trade policies as well as potential trade disputes and supply chain issues.

Based on customers’ continued reluctance to invest, the Executive Board expects Group sales for the full year 2026 to be between € 285 million and € 300 million (2025: € 313.0 million). For EBITDA pre exceptionals, the company forecasts a figure between € 22 million and € 27 million for the current financial year (2025: € 34.4 million). R. STAHL expects a break even figure for free cash flow in 2026 (2025: € -0.3 million).

“Financial year 2026 will be a transitional year for R. STAHL. “With our NEXUS program for the future, we are going to lay the financial, structural and strategic foundations necessary to capitalize on growth opportunities in existing and new markets starting in 2027", says Dr. Claus Bischoff, CEO at R. STAHL.

 

Key figures of R. STAHL Group for Q1 2026 pursuant to IFRS
 

€ million Q1 2026 Q1 2025 Change
in % Sales 73.4 73.3 +0.1  Germany 16.1 18.6 -13.6  Central region¹⁾ 32.3 35.9 -10.2  America 6.9 8.1 -14.5  Asia/Pacific 18.1 10.7 +69.4 EBITDA pre exceptionals¹⁾ 6.7 3.7 +84.4  in % of sales 9.2 5.0   EBITDA 6.4 3.4 +87.7 EBIT 1.8 -1.3 n/a Net profit -0.3 -2.5 n/a Earnings per share (in €) -0.04 -0.39 n/a Order income 77.2 98.8 -21.9 Order backlog as of 31 March 94.3 122.4 -23.0 Cash flow from operating activities -2.2 -0.4 n/a Free cash flow -3.9 -4.0 +1.4 Depreciation and amortization 4.6 4.7 -1.9 Capital expenditures²⁾ 1.8 3.5 -49.8  
31 March 2026
31 Dec.
2025   Balance sheet 269.1 258.9 +4.0 Equity 76.5 75.7 +1.1  Equity ratio in % 28.4 29.2   Net financial liabilities³⁾ 39.8 34.9 +14.2 Net financial liabilities incl. lease liabilities 57.5 48.3 +19.1 Employees ⁴⁾ 1,617 1,659 -2.5

¹⁾ Exceptionals: restructuring charges, unscheduled depreciation and amortization, charges for designing and implementing of IT projects,
M&A costs, gains and losses form deconsolidation processes as well as gains and losses from the disposal of assets no longer
required for business operations
²⁾ Payments for investments in intangible assets and property, plant & equipment
³⁾ Without pension provisions and without lease liabilities
⁴⁾ excl. apprentices

Percentages and figures in may include rounding differences. The signs used to indicate rates of changes are based on mathematical
aspects. Rates of changes > +100% are shown as >+100%, rates of change <-100% as „n/a“ (not applicable)

 

Note
The quarterly statement for Q1 2026 is available for download under the following link (Corporate – Investor Relations – IR News and Ad hoc News – Financial Reports): https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/financial-reports.

 

Financial calendar 2026
16 June 33rd Annual General Meeting
6 August Interim Report H1 2026
5 November Quarterly Statement Q3 2026

 

About R. STAHL – www.r-stahl.com
R. STAHL is one of the world's leading suppliers of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio covers the portfolio segments Electrical, Automation as well as Lighting and is completed by the cross-divisional function Customer Solutions. Typical customers are the chemical and pharmaceutical industry, the oil & gas industry – including LNG applications – as well as the food and beverage industry. Most of the R. STAHL products are also approved for use with hydrogen. In 2025, global sales amounting to around € 313 million were generated by 1,659 employees. The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).

Forward-looking statements
This release contains forward-looking statements based on assumptions and estimates of R. STAHL’s management. Although we assume that the expectations of these forward-looking statements are realistic, we cannot guarantee that these expectations will prove to be correct. The assumptions may involve risks and uncertainties that could cause the actual results to differ materially from the forward-looking statements. Factors that may cause such discrepancies include: changes in the macroeconomic and business environment, exchange rate and interest rate fluctuations, the roll-out of competing products, a lack of acceptance of new products or services, and changes in business strategy. R. STAHL does not plan to update these forward-looking statements nor does it accept any obligation to do so.

____________________

Earnings Call of R. STAHL AG and R. STAHL Group for Q1 2026

 

 The Executive Board will explain the results of Q1 2026 and will present an outlook for the current year

  today at 10:00 CET.

Afterwards they will be available for questions. The event will be held in English language.

The earnings call will be held on mwb's ResearchHub. Please register for the call using the link provided here
(https://research-hub.de/events/registration/2026-05-07-10-00/RSL2-GR).

A replay of the earnings call will be available shortly after the event has ended on the ResearchHub as well as on our company’s website in the section corporate > investor relations > IR news and ad hoc news (https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/events-and-presentations)

 

We look forward to talking to you.

____________________

Contact:

R. STAHL AG
Judith Schäuble
Director Corporate Communications & Investor Relations
Am Bahnhof 30
74638 Waldenburg (Württ.)
Germany

Tel. +49 7942 943-1396
investornews@r-stahl.com