21 slides from R. Stahl Aktiengesellschaft's earnings presentation, Jul 31, 2026
Slide 1: Q2 2026 Earnings Call
Q2 2026 EARNINGS CALL July 31, 2026 | Waldenburg | Tobias Popp 1
Slide 2: Agenda
AGENDA 1 Summary Q2 2026 2 Financials – Q2 2026 3 Outlook – FY 2026 4 Appendix © R. STAHL Q2 2026 Earnings Call – July 31, 2026 2
Slide 3: Business stabilised – markets remain challenging
BUSINESS STABILISED – MARKETS REMAIN CHALLENGING Results of Q2 2026 Order intake improved at a low level to €68.6m (PY: €67.0m); all regions except the Americas recorded growth Sales decreased to €72.2m (PY: €77.9m); Asia/Pacific region still strong but America and Central region remain weak EBITDA
Slide 4: Agenda
AGENDA 1 Summary Q2 2026 2 Financials – Q2 2026 3 Outlook – FY 2026 4 Appendix © R. STAHL Q2 2026 Earnings Call – July 31, 2026 4
Slide 5: Sales declined – Asia/Pacific still strong
SALES DECLINED – ASIA/PACIFIC STILL STRONG Sales Q2 2026 vs. Q2 2025 by region Americas Region, €m Q2 2026 Q2 2025 Change in % 10% Germany 16.2 16.9 -3.9 Asia/ Central region1) 33.0 39.0 -15.4 Pacific 22% Central Q2 2026: 46% region1) €72.2m Americas 7.0 9.8 -28.7 Asia/Pacific 16.1 12.3 +30.8 22% Ge
Slide 6: Profitability increased despite lower sales due to significant cost reductions and discipline
PROFITABILITY INCREASED DESPITE LOWER SALES DUE TO SIGNIFICANT COST REDUCTIONS AND DISCIPLINE Key data of income statement €m Q2 2026 Q2 2025 Comments Sales 72.2 77.9 • Cost of materials ratio fell sharply to Total operating performance 69.1 80.7 29.8% (PY: 34.2%) despite lower total Cost of materia
Slide 7: Free cash flow improved significantly
FREE CASH FLOW IMPROVED SIGNIFICANTLY Key data of cash flow statement €m Q2 2026 Q2 2025 Comments Net profit -2.5 -2.5 • Cash flow nearly stable at €2.0m Depreciation and amortization 4.5 4.6 • Because of the lower build up of Other income and expenses without cash flow impact 0.2 0.7 working capita
Slide 8: Agenda
AGENDA 1 Summary Q2 2026 2 Financials – Q2 2026 3 Outlook – FY 2026 4 Appendix © R. STAHL Q2 2026 Earnings Call – July 31, 2026 8
Slide 9: Guidance FY 2026 confirmed
GUIDANCE FY 2026 CONFIRMED Sales forecast at €285m to €300m RISKS EBITDA pre1) between €22m to €27m Geopolitical conflicts General economic Free cash flow to be balanced development Equity ratio slight decrease 1) EBITDA pre exceptionals: restructuring charges, unscheduled depreciation and amortizat
Slide 10: The R. STAHL strategy process
THE R. STAHL STRATEGY PROCESS Consistently and sustainably designed R. STAHL 2020 EXcellence 2030 Building the foundation Addressing intital priorities Eliminating growth barriers © R. STAHL Q2 2026 Earnings Call – July 31, 2026 10
Slide 11: Overview of the hydrogen value chain
OVERVIEW OF THE HYDROGEN VALUE CHAIN Presented at our 2025 Annual General Meeting © R. STAHL Q2 2026 Earnings Call – July 31, 2026 11
Slide 12: Top success story of Q2/2026
TOP SUCCESS STORY OF Q2/2026 HMIs for hydrogen storage in North-Western Germany Industry: Hydrogen storage Customer: Rösberg Engineering Supplied Materials: HMI Orca Project Details 1) Germany's first commercial Second order for this hydrogen cavern storage project facility with a capacity of 38 mil
Slide 13: Thank you for your attention – let's start the Q&A session
THANK YOU FOR YOUR ATTENTION – LET’S START THE Q&A SESSION © R. STAHL Q2 2026 Earnings Call – July 31, 2026 13
Slide 14: Issuer, contact and financial calendar
ISSUER, CONTACT AND FINANCIAL CALENDAR Issuer and contact Financial calendar 2026 R. STAHL AG Am Bahnhof 30 November 10 Quarterly Statement Q3 2026 74638 Waldenburg Germany November 12 MKK – Munich Capital Market Conference www.r-stahl.com Investor Relations Judith Schäuble P +49 7942 943 1396 E inv
Slide 15: Disclaimer
DISCLAIMER This presentation was prepared by R. STAHL AG and is solely for information purposes. It may not be reproduced, distributed or published without the prior consent of R. STAHL AG. This presentation contains forward-looking statements. Such forward-looking statements are based on certain as
Slide 16: Thank you!
THANK YOU! Next Financial Update: Earnings Call Q3/2026 – November 10 © R. STAHL Q2 2026 Earnings Call – July 31, 2026 16
Slide 17: Agenda
AGENDA 1 Summary Q2 2026 2 Financials – Q2 2026 3 Outlook – FY 2026 4 Appendix © R. STAHL Q2 2026 Earnings Call – July 31, 2026 17
Slide 18: Half year sales decreased slightly
HALF YEAR SALES DECREASED SLIGHTLY Sales 6M 2026 vs. 6M 2025 by region Americas Region, €m 6M 2026 6M 2025 Change Asia/ Pacific 10% 23% Germany 32.3 35.5 -9.0% Central region1) 65.3 74.9 -12.9% 6M 2026: € 145.6m Americas 13.9 17.8 -22.3% 45% 22% Central Germany region1) Asia/Pacific 34.2 23.0 +48.8%
Slide 19: Significant cost reductions lead to higher profitability
SIGNIFICANT COST REDUCTIONS LEAD TO HIGHER PROFITABILITY Key data of Income Statement €m 6M 2026 6M 2025 Comments Sales 145.6 151.2 • Cost of materials ratio fell Total operating performance 146.5 160.8 sharply to 31.4% (PY: 34.2%) Cost of materials -46.0 -55.0 • Personnel costs decreased by Personn
Slide 20: Free cash flow in first half year improved by €6.1m
FREE CASH FLOW IN FIRST HALF YEAR IMPROVED BY €6.1M Key data of Cash Flow Statement €m 6M 2026 6M 2025 Comments Net profit -2.7 -5.0 • Cash flow from operating Depreciation and amortization 9.1 9.3 activities rose by €2.6m to Other income and expenses without cash flow impact 0.9 1.1 €-3.3m mainly d
Slide 21: Share information
SHARE INFORMATION Share information Shareholders structure R. STAHL Share price Number of shares 6,440,000 August 2025 – July 2026 Founding families Xetra Freefloat ISIN DE000A HBB5 within a consortium 20% WKN A1PHBB 36% Norman 10% Deutsche Boerse RSL2 Rentrop 10% Bloomberg ticker RSL2 BWVA1) 10% 14