LEM Holding S.A. (0QKB) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Lamb Holding SA half-year results 2025-26. At this time, all participants have been placed on a listen-only mode. The floor will be open for questions following the presentation. Let me now turn the floor over to your host, Mark Nathan, CEO. Thank you very much. Good morning, ladies and gentlemen, and a warm welcome to the presentation of our half-year results 2025-26. My name is Frank Rehfeldt. I'm the CEO of LEM, and I'm here together with Antoine Julia, our CFO. For those who are not yet familiar with LEM, LEM is providing sensors for measuring electrical parameters, namely current, voltage, and energy, and with those help our customers and society to transition to a sustainable future. Here you see the agenda for today's presentation. After my opening remarks, I will give you more detail on the business performance of LEM. Antoine Trulia, our CFO, will then introduce the financial results, and I'm going to outline what we expect in the future, as well as talk about the adjustments we did with respect to our mid-term ambitions. As you might remember, we had a tough start into 25-26. Flat sales at constant currencies in comparison to the previous year. However, both the gross margin and consequently also the EBIT margin were under pressure in Q1. Despite not seeing a significant improvement on the top line in constant currencies in Q2, we managed to improve in due to both before mentioned KPIs and Antoine will go here in greater detail. For the first six months, the 5.3% decline in our top line can be fully attributed to FX losses, whereas the segments growing and those declining were balancing out each other. We were in particular happy with the developments in automation, automotive, and track in thought with...