Kendrion N.V. (0G68) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Morning, everybody here in the Novotel and on the webcast, and welcome to Kendrion's Q2 and First Half Year twenty twenty six Results Presentation. My name is Joob van Buerde, Kendrion's CEO, and with me here is Jeroen Heemer, our CFO. First, this morning's agenda. I will start by summarizing the key highlights of the first half of twenty twenty six and the strategic position of Kendrion after our move away from automotive as an industrial motion control specialist. I will then give you an update of the progress we have made operationally over the past half year. Jeroen will review our Q2 and first half twenty twenty six results. Next, I will discuss the outlook for 2026, look at our 2027 financial targets, preview our Capital Markets Day planned for the September 17 and go to Q and A. Before discussing the strategic repositioning, I would like to draw your attention to the following. Certain statements contained in this presentation constitute forward looking statements, and these forward looking statements rely on several assumptions concerning future events and are subject to uncertainties and other factors, many of which are outside the company's control that could cause actual results to differ materially from such statements. Let us look at the highlights of the first half of twenty twenty six. Starting with the financials. Normalized EBITDA margin was 18.1% in the second quarter and 17.5% for the first half, at the upper end of our target range of 15% to 18%. Normalized return on invested capital increased to 26.3% from 13.9% in the first half of last year on the back of a strong EBITA and much reduced capital base. That means we have met or exceeded our 2027 financial targets ahead of schedule. We also returned EUR $179,000,000 to shareholders in the first ha...