Business
Zumtobel : H1 2025/26 press release
Zumtobel : H1 2025/26 press
About this update from Zumtobel Group Ag
ZUMTOBEL GROUP PRESENTS RESULTS FOR THE FIRST HALF-YEAR 2025/26 POSITIVE RESULTS DESPITE DECLINE IN REVENUES Press Release Dornbirn, 4 December 2025 Revenues decline by 6.9% to EUR 537.6 million in the first half year Adjusted EBIT at EUR 31.6 million (H1 2024/25: EUR 41.2 million) Adjusted EBIT margin equals 5.9% (H1 2024/25: 7.1%) Positive net profit for the period of EUR 13.5 million Outlook confirmed Dornbirn, Austria - The challenging economic environment was reflected in subdued performance by the Zumtobel Group: In the second quarter, revenues declined by 6.0% year-on-year to EUR 271.2 million. Revenues for the first six months totalled EUR 537.6 million (-6.9%), whereby the decline resulted primarily from weak demand. There are signs of an end to the recession in the non-residential construction sector, but the professional lighting market was unable to benefit from the expected recovery due to its delayed reaction to economic cycles. Adjusted EBIT for the Zumtobel Group amounted to EUR 31.6 million in the first half year (H1 2024/25: EUR 41.2 million), and the adjusted EBIT margin equalled 5.9% (H1 2024/25: 7.1%). The decline was based, above all, on the loss of revenues. Net profit for the period equalled EUR 13.5 million. "The first half of our 2025/26 financial year was influenced by a difficult market environment. Fixed cost reductions were only able to offset part of the revenue decline in both segments. In spite of these developments, we are working hard to further improve efficiency, drive innovation and sustainably strengthen our market position" , emphasised Alfred Felder, CEO of the Zumtobel Group. In the Lighting Segment, revenues fell by 6.0% to EUR 428.7 million in H1 2025/26 (H1 2024/25: EUR 456.1 million). Positive contributions from parts of the D/A/CH region and from Southern and in Eastern Europe were unable to offset the weaker demand in Northern and Western Europe and in Asia. The Components Segment was affected to a greater extent and recorded a decline of 12.3% in revenues to EUR 138.0 million (H1 2024/25: EUR 157.3 million). The difficult economic environment was responsible for weaker performance in all regions. Adjusted material and personnel costs declined during the reporting period, and adjusted development costs fell by EUR 1.0 million to EUR 33.6 million. However, lower fixed cost coverage led to a reduction in the gross profit margin to 37.7% (H1 2024/25: 38.1%). These savings had a positive effect on adjusted selling and administrative expenses, which improved to EUR -171.3 million compared with EUR -179.1 million in the previous year and absorbed part of the impact on margins. Earnings pressured by negative special effects Special effects of EUR -10.8 million were recognised in H1 2025/26. They include restructuring costs in connection with the termination of the US production in Highland (EUR -6.0 million). The recognised special effects also include the write-off of goodwill in the CGU Components (EUR -2.0 million), write-downs to capitalised development projects (EUR -2.7 million), and an investment grant received from the Portuguese government (EUR 1.4 million). EBIT recorded by the Zumtobel Group fell to EUR 20.7 million (H1 2024/25: EUR 30.0 million), and the EBIT margin equalled 3.9% in H1 2025/26 (H1 2024/25: 5.2%). Financial results improved to EUR -5.8 million (H1 2024/25: EUR -9.5 million ). Profit before tax totalled EUR 14.9 million (H1 2024/25: EUR 20.5 million ) and, after the deduction of taxes, net profit for the period amounted to EUR 13.5 million (H1 2024/25: EUR 18.4 million ). Earnings per share equalled EUR 0.32 (basic EPS based on 42.3 million shares). Solid balance sheet structure The balance sheet total of the Zumtobel Group rose by 1.7% over the level on 30 April 2025 to EUR 1,005.9 million as of 31 October, and equity increased by 1.3% to EUR 430.6 million . The equity ratio remained nearly unchanged at 42.8% (30 April 2025: 42.9%). Net liabilities increased by 1.3% to EUR 120.0 million (30 April: EUR 118.5 million ). The balance sheet structure of the Zumtobel Group remains stable and strong. Progress on the efficiency programme: scaling of first measures The recently launched efficiency programme is creating the basis to lead the Zumtobel Group safely through challenging times and optimally prepared to meet future developments. The measures developed in Phase 1 for selling and administrative costs (SG&A) are already being implemented, while similar actions for operations, research & development and procurement were recently defined for Phase 2. The goal is not only short-term cost reduction, but also the structural improvement of margins and the sustainable strengthening of the Group's competitive position. The expansion of the Global Business Centres in Serbia and Portugal underscores the necessity of closely linking efficiency and innovation - and will strengthen the central value drivers for sustainable profitability and long-term shareholder value generation. The future will bring better integration for key expertise, streamlined processes and shorter development cycles. The first quantifiable effects are expected at the end of this financial year. Cost savings will increase continuously over the coming four years and in the fourth year - the 2028/29 financial year - are expected to reach a volume of EUR 40 to 50 million . Outlook confirmed The management of the Zumtobel Group confirms the expected revenue decline in the single-digit percentage range and an adjusted EBIT margin of 1% to 4% for the 2025/26 financial year. The market environment remains challenging and difficult to forecast. Business development is negatively impacted by the ongoing geopolitical risks, volatile procurement markets and weak demand, especially in the new construction segment. Although the direct effects of US tariff policies on the Zumtobel Group are limited, increasing competition and delayed investment decisions by customers could further slow growth. In contrast, regulatory initiatives at the EU level and in Germany as well as the consequent implementation of efficiency and stability measures could create opportunities to strengthen the sector in the future and contribute to an upturn. H1 2025/26 OVERVIEW in EUR million H1 2025/26 H1 2024/25 Change in % Revenues 537.6 577.6 - 6.9 Lighting Segment 428.7 456.1 - 6.0 Components Segment 138.0 157.3 - 12.3 Adjusted EBIT 31.6 41.2 - 23.4 as a % of revenues 5.9 7.1 EBIT 20.7 30.0 - 30.9 as a % of revenues 3.9 5.2 Net profit for the period 13.5 18.4 - 26.9 as a % of revenues 2.5 3.2 in EUR million 31 October 2025 30 April 2025 Change in % Total assets 1,005.9 989.6 1.7 Equity 430.6 424.9 1.3 Equity ratio in % 42.8 42.9 Net debt 120.0 118.5 1.3 Headcount incl. contract workers (full-time equivalent) 5,214 5,299 - 1.6 in EUR million H1 2025/26 Change in % in % of Group D/A/CH 213.8 - 1.5 39.8 Northern and Western Europe 124.1 - 15.2 23.1 Southern and Eastern Europe 138.8 - 2.3 25.8 Asia & Pacific 34.6 - 23.4 6.4 Americas & MEA 26.3 - 2.1 4.9 Total 537.6 - 6.9 100.0 SHORT COMPANY PORTRAIT ABOUT Zumtobel Group AG The Zumtobel Group is an international lighting group and a leading supplier of innovative lighting solutions, lighting components and associated services. With its brands Thorn, Tridonic and Zumtobel, the Group offers its customers around the world a comprehensive portfolio of products and services. The Group's know-how about the effects of light on people, acquired over decades, forms the basis for the development of innovations and for accessing new fields of business. In the lighting business, the Group with its Thorn and Zumtobel brands, is one of the European market leaders. Through its lighting technology brand, Tridonic, the Zumtobel Group plays a leading role worldwide in the manufacture of hardware and software for lighting systems (LED light sources and LED drivers, sensors and lighting management). The Zumtobel Group's service offering is one of the most comprehensive in the entire lighting industry, including consultation on smart lighting controls and emergency lighting systems, light contracting, design services and project management of turnkey lighting solutions, as well as new, data-based services focused on delivering connectivity for buildings and municipalities via the lighting infrastructure. The Group is listed on the Vienna Stock Exchange (ATX Prime) and currently holds a workforce of around 5,300 employees. In the 2024/25 financial year, the Group posted revenues of EUR 1,097.2 million. The Zumtobel Group is based in Dornbirn in the Vorarlberg region of Austria. For further information, please visit z.lighting/group . INFORMATION You can download the press release and a portrait of CEO Alfred Felder here . The half-year report on 2025/26 is available for download here . Press Contact Zumtobel Group Media Team [email protected] Investor Relations Contact Eric Schmiedchen Head of Investor Relations +43 5572 509 1125 [email protected]