Ehningen, 13. May 2026 - The Bertrandt Group looks back on a challenging first half of fiscal year 2025/2026. Persistently difficult framework conditions - particularly in the automotive sector - have so far prevented the higher order backlog compared to the prior year from translating into the anticipated increase of actual customer call-offs. In addition, the already challenging industry environment has recently intensified further due to the Iran conflict, increasing uncertainty for the second half of the fiscal year. Against this backdrop, the company has adjusted its forecast for the current fiscal year. At the same time, Bertrandt is consistently advancing its "Fit for Future" performance optimization program and strategically continuing the diversification of its customer base.
Despite the higher order backlog, the anticipated market recovery - particularly toward the end of the second quarter-fell short of expectations. The lack of momentum in customer call-offs and the resulting lower capacity utilization reflect the continued volatility of the market environment. Additional project postponements by individual customers further exacerbated this trend and had a negative impact on revenue development.
In total, revenues in the first half of 2025/2026 amounted to EUR 456.702 million and were therefore significantly below the prior-year level (EUR 516.403 million). In addition to lower customer call-offs - particularly from the automotive industry - implemented countermeasures such as workforce reductions also contributed to this development. EBIT for the reporting period amounted to EUR -13.123 million and thus improved slightly compared to the prior-year figure. This reflects the positive effects of the "Fit for Future" program. Headcount was reduced by 1,437 employees to 11,744 compared to the level at the end of March 2025 (prior year: 13,181). The balance sheet structure remains stable and solid, with an equity ratio of 44.5 percent (H1 2024/2025: 42.6 percent).
For the second half of the fiscal year, the Bertrandt Group expects a market environment characterized by both opportunities and risks. At the beginning of April, leading economic research institutes significantly revised their growth forecasts for Germany downward due to the expected impact of the Iran conflict. In combination with ongoing trade conflicts, there is a risk that the economic slowdown may persist and that economic output could decline again in 2026.
Against this backdrop, the Board of Management of Bertrandt AG adjusted its forecast for the fiscal year on April 27, 2026. While previously assuming a moderate increase in revenues, the company now expects a moderate decline compared to the prior year. The target of a significantly improved EBIT remains fundamentally in place, although uncertainty regarding the achievement of a positive result has increased. The forecast of a significant increase in cash flow from operating activities has been confirmed.
"The 'Fit for Future' earnings optimization program will be consistently continued. Based on the measures implemented to date, savings of more than EUR 120 million per annum have already been achieved, exceeding the originally targeted range of EUR 70 to 90 million. Additional measures are intended to ensure a return to sustainable profitability - independently of growth in total revenues," says Markus Ruf, Member of the Executive Board Finance. Bertrandt expects additional savings of around EUR 15 million in the second half of the year compared to the first half.
At the same time, Bertrandt continues its strategic initiatives to diversify its service portfolio and is specifically strengthening its non-automotive business. Revenue shares outside the automotive industry are to be significantly expanded in the coming years - particularly in aerospace, defence, medical technology, and industry. In the medium term, the company aims to generate 20 to 25 percent of its revenues outside the automotive sector.
The most important key figures at a glance
| IFRS-based figures for the Bertrandt Group | 01/10/2025 until 31/03/2026 | 01/10/2024 until 31/03/2025 |
Total revenues (in EUR m) | 456.702 | 516.403 |
EBIT (in EUR m) | -13.123 | -14.379 |
Free cash flow (in EUR m) | 46.646 | 27.612 |
Equity (in EUR m) | 288.586 | 347.197 |
Equity ratio (in percent) | 44.5 | 42.6 |
Employees worldwide | 11,744 | 13,181 |
About Bertrandt
Through our development performance, we accelerate technological progress and make a relevant contribution to a sustainable future. We are an independent and international development service provider with many years of automotive expertise. With cross-industry know-how and a holistic understanding of systems and products, we create technological solutions along the entire value chain. We deal with a focus on trend topics such as digitalization, e-mobility and autonomous systems, mainly for the automotive, aviation and mechanical engineering sectors, and consistently facilitate the development of tailored solutions in these areas. We work on this every day - with around 12,000 employees at over 50 sites worldwide.