Q1-Q3 2025/26 Quarterly Report (May 2025 - January 2026)
Overview of the Third Quarter of 2025/26
Key Data in EUR million | Q3 2025/26 | Q3 2024/25 | Change in % | Q1-Q3 2025/26 | Q1-Q3 2024/25 | Change in % |
Revenues | 237.4 | 250.5 | -5.2 | 775.0 | 828.1 | -6.4 |
Adjusted EBITDA | 13.8 | 13.4 | 3.2 | 72.3 | 81.1 | -10.8 |
as a % of revenues | 5.8 | 5.3 | 9.3 | 9.8 | ||
EBITDA | 11.9 | 11.1 | 7.6 | 64.4 | 68.8 | -6.5 |
as a % of revenues | 5.0 | 4.4 | 8.3 | 8.3 | ||
Adjusted EBIT | 0.6 | -0.2 | >100 | 32.2 | 41.0 | -21.5 |
as a % of revenues | 0.3 | -0.1 | 4.2 | 4.9 | ||
Special effects | -1.8 | -1.9 | -12.7 | -13.1 | 3.5 | |
EBIT | -1.2 | -2.1 | 42.3 | 19.5 | 27.8 | -30.0 |
as a % of revenues | -0.5 | -0.9 | 2.5 | 3.4 | ||
Net profit for the year | -4.5 | -5.4 | 16.3 | 9.0 | 13.0 | -31.3 |
as a % of revenues | -1.9 | -2.1 | 1.2 | 1.6 | ||
Cash flow from operating results | 11.9 | 11.0 | 8.0 | 64.6 | 69.2 | -6.6 |
CAPEX | 11.3 | 36.4 | -68.8 | 36.0 | 65.4 | -45.0 |
thereof CAPEX excl. IFRS 16 | 10.1 | 12.6 | -19.5 | 32.0 | 35.2 | -9.1 |
Total assets | 31 January 2026 | 30 April 2025 | Change in % | |||
982.9 | 989.6 | -0.7 | ||||
Equity | 426.2 | 424.9 | 0.3 | |||
Equity ratio in % | 43.4 | 42.9 | ||||
Net debt | 131.1 | 118.5 | 10.6 | |||
Headcount incl. contract worker (full-time equivalent) | 5,148 | 5,299 | -2.9 | |||
Development of business by quarter
Revenues development (in EUR million) Adjusted EBIT development
-7.8% -6.0% -5.2%
266.4
250.5
269.1
237.4
289.1
288.6 271.2
9.2%
7.0%
7.3%
2.2%
0.3%
2.5%
20.2
21.0
25.0
-0.1%
6.6 6.0
0.6
Q1 Q2 Q3 Q4
Q1 Q2
-0.2
Q3 Q4
Revenues FY 2024/25 Revenues FY 2025/26Adjusted EBIT FY 2024/25 in % of revenues Adjusted EBIT FY 2025/26 in % of revenues Adjusted EBIT FY 2024/25 in EUR million
Adjusted EBIT FY 2025/26 in EUR million
Letter to ShareholdersDear Shareholders,
The first three quarters of our 2025/26 financial year were influenced by the challenging economic environment. Demand remained below the previous year in nearly all of our relevant markets. Ongoing weakness, especially in the non-residential construction sector, and delayed investment decisions had a negative impact on business development. Revenue growth was only recorded by the America & MEA region.
In this largely unfavourable operating environment, the Zumtobel Group recorded a 6.4% decline revenues to EUR 775.0 million in Q1-Q3 2025/26. Revenues in the Lighting Segment fell by 5.1% year-on-year to EUR 618.6 million. Positive impulses from parts of America & MEA and from South and Eastern Europe were unable to offset the generally weaker demand in our core markets. Revenues in the Components Segment declined by 11.7% to EUR 200.0 million and reflected the difficult climate in the industrial sector.
Operational discipline represented a positive highlight: Both material and personnel costs declined during the reporting period. The first measures from our efficiency programme have started to take effect. The adjusted gross profit margin improved to 37.3%, and adjusted selling and administrative expenses were reduced below the previous year's level. This development underscores the consequent implementation of our efficiency programme, which is designed to structurally improve our cost base and sustainably strengthen our competitive ability.
Adjusted EBIT recorded by the Zumtobel Group totalled EUR 32.2 million in Q1-Q3 2025/26, which represents an adjusted EBIT margin of 4.2%. The lower margin resulted primarily from the revenue decline in the Components Segment which was not fully offset by cost reductions. A differentiated view by segment shows a robust picture in the Lighting Segment: Here, adjusted EBIT rose slightly to EUR 41.0 million. Savings in material and fixed costs together with efficiency measures had a stabilising effect and led to an improvement in profitability. The Components Segment, in contrast, reported a decline in adjusted EBIT to EUR 5.0 million due to the stronger decline in revenues.
At this point, I would like to mention the Zumtobel Group's upcoming participation in three leading international trade fairs - the EuroShop 2026 in Düsseldorf, the Data Centre World 2026 in London and the Light + Building 2026 in Frankfurt am Main. This participation will further develop our market positions in high-margin segments like retail, data centre, smart buildings and urban infrastructure and increase the visibility of our sustainable, energy efficient lighting solutions as a value driver for real estate and infrastructure investments. Our involvement in these trade fairs underscores our claim to transform regulatory impulses like the coming EU efficiency requirements into concrete, profitable growth, to expand and broaden our international customer relations, and to further strengthen our position as a sustainable solution provider with a scalable business model.
The market climate remains influenced by structural and geopolitical changes. Investment activity in the non-residential construction sector is increasing, but global trade shifts, regulatory differences and the regionalisation of supply chains increase planning uncertainty and lead to more aggressive competition. At the same time, long-term transformation trends that are essential for our business model are gaining speed. The growing regulatory focus on the reduction of CO₂ emissions, ambitious energy efficiency requirements in the EU and the rising demand for intelligent, integrated building solutions create structural opportunities for innovative lighting solutions and control systems. Digitalisation, data-based services and sustainable product architectures will become decisive differentiation factors for the professional lighting market. We are focusing the Zumtobel Group consequently on these future fields, targeting our investments in energy-efficient technologies, smart lighting solutions and optimised value creation processes to create the basis for resilience in a volatile environment and long-term profitable growth.
Dear Shareholders: On behalf of the Zumtobel Group, I would like to thank you for your continuing confidence.
Alfred Felder
Chief Executive Officer (CEO)
Group Management ReportDevelopment of revenues in the first three quarters of 2025/26
>>Decline of 6.4% in Group revenues (FX-adjusted -5.6%)
>>Lighting Segment revenues 5.1% below previous year
>>Components Segment revenues 11.7% lower year-on-year
>>Adjusted EBIT totals EUR 32.2 million
Income statement in EUR million | Q3 2025/26 | Q3 2024/25 | Change in % | Q1-Q3 2025/26 | Q1-Q3 2024/25 | Change in % |
Revenues Lighting Segment | 190.0 | 195.9 | -3.0 | 618.6 | 652.0 | -5.1 |
Revenues Components Segment | 62.0 | 69.2 | -10.4 | 200.0 | 226.6 | -11.7 |
Reconciliation | -14.5 | -14.7 | -0.9 | -43.7 | -50.5 | -13.5 |
Revenues | 237.4 | 250.5 | -5.2 | 775.0 | 828.1 | -6.4 |
Adjusted Cost of goods sold | -151.6 | -165.9 | -8.6 | -486.3 | -523.2 | -7.1 |
Adjusted Gross profit | 85.9 | 84.6 | 1.5 | 288.7 | 304.9 | -5.3 |
as a % of revenues | 36.2 | 33.8 | 37.3 | 36.8 | ||
Adjusted SG&A expenses | -85.3 | -84.8 | 0.6 | -256.6 | -263.9 | -2.8 |
Adjusted EBIT Lighting Segment | 7.2 | 1.9 | >100 | 41.0 | 39.9 | 2.7 |
as a % of segment revenues | 3.8 | 1.0 | 6.6 | 6.1 | ||
Adjusted EBIT Components Segment | -2.0 | 2.1 | <-100 | 5.0 | 13.3 | -62.4 |
as a % of segment revenues | -3.2 | 3.0 | 2.5 | 5.9 | ||
Reconciliation | -4.7 | -4.2 | 10.3 | -13.8 | -12.2 | 13.0 |
Adjusted EBIT | 0.6 | -0.2 | >100 | 32.2 | 41.0 | -21.5 |
as a % of revenues | 0.3 | -0.1 | 4.2 | 4.9 | ||
Special effects | -1.8 | -1.9 | -12.7 | -13.1 | ||
EBIT Lighting Segment | 5.4 | -0.1 | >100 | 32.7 | 26.6 | 22.7 |
as a % of segment revenues | 2.8 | -0.1 | 5.3 | 4.1 | ||
EBIT Components Segment | -2.0 | 2.2 | <-100 | 1.7 | 13.4 | -87.3 |
as a % of segment revenues | -3.2 | 3.2 | 0.9 | 5.9 | ||
Reconciliation | -4.7 | -4.2 | 10.3 | -14.9 | -12.2 | 22.0 |
EBIT | -1.2 | -2.1 | 42.4 | 19.5 | 27.8 | -30.0 |
as a % of revenues | -0.5 | -0.9 | 2.5 | 3.4 | ||
Financial results | -3.8 | -3.8 | 1.8 | -9.5 | -13.3 | 28.6 |
Profit before tax | -5.0 | -6.0 | 16.3 | 10.0 | 14.5 | -31.3 |
Income taxes | 0.5 | 0.6 | -16.3 | -1.0 | -1.4 | -31.3 |
Net profit for the period | -4.5 | -5.4 | 16.3 | 9.0 | 13.0 | -31.3 |
Earnings per share (in EUR) | -0.10 | -0.13 | 19.2 | 0.22 | 0.31 | -29.8 |
For information: EBITDA (EBIT plus depreciation and amortisation) totalled EUR 64.4 million in Q1-Q3 2025/26 (Q1-Q3 2024/25: EUR 68.8 million).
Revenue decline of 6.4%
Lighting Segment revenues fall by 5.1%
Components Segment with revenue minus of 11.7%
Adjusted EBIT falls to EUR 32.2 million
Special effects of EUR -12.7 million
Revenues recorded by the Zumtobel Group declined by 6.4% to EUR 775.0 million in Q1-Q3 2025/26 (Q1-Q3 2024/25: EUR 828.1 million). The still challenging economic environment was reflected in earnings weakness across nearly all Group regions, with the exception of America & MEA. After an adjustment for foreign exchange effects, the decline equalled 5.6%.
In the Lighting Segment, revenues fell by 5.1% to EUR 618.6 million in Q1-Q3 2025/26 (Q1-Q3 2024/25: EUR 652.0 million). Higher revenues in parts of the America & MEA region and in Southern and Eastern Europe were unable to offset the generally negative trend.
The Components Segment reported a year-on-year decline of 11.7% in revenues to EUR 200.0 million in Q1-Q3 2025/26 (Q1-Q3 2024/25: EUR 226.6 million). Apart from America & MEA, all other regions were confronted with declining revenues due to the difficult economic environment
Revenues in EUR million | Q3 2025/26 | Q3 2024/25 | Change in % | Q1-Q3 2025/26 | Q1-Q3 2024/25 | Change in % | in % of Group |
D/A/CH | 86.5 | 93.8 | -7.8 | 300.2 | 310.9 | -3.5 | 38.7 |
Northern and Western Europe | 52.8 | 55.7 | -5.1 | 177.0 | 202.1 | -12.4 | 22.8 |
Southern and Eastern Europe | 62.2 | 64.8 | -4.0 | 201.0 | 206.9 | -2.8 | 25.9 |
Asia & Pacific | 19.7 | 21.6 | -8.8 | 54.3 | 66.8 | -18.7 | 7.0 |
Americas & MEA | 16.2 | 14.5 | 11.7 | 42.5 | 41.4 | 2.7 | 5.5 |
Total | 237.4 | 250.5 | -5.2 | 775.0 | 828.1 | -6.4 | 100.0 |
The adjusted cost of goods sold reflects a reduction in both material and personnel costs during Q1-Q3 2025/26. Adjusted development costs fell by EUR 1.7 million to EUR 50.9 million in this same period (Q1-Q3 2024/25: EUR 52.6 million) and, as a result, the adjusted gross profit margin rose to 37.3% (Q1-Q3 2024/25: 36.8%). Adjusted selling and administrative expenses (incl. research) improved to EUR -256.6 million, compared with EUR -263.9 million in Q1-Q3 2024/25.
Adjusted EBIT for the Zumtobel Group fell from EUR 41.0 million in Q1-Q3 2024/25 to EUR 32.2 million in Q1-Q3 2025/26, and the adjusted EBIT margin equalled 4.2% (Q1-Q3 2024/25: 4.9%). The margin decline reflected the loss of revenues in the Components Segment which was not fully offset by cost savings.
Adjusted EBIT in the Lighting Segments rose from EUR 39.9 million in the first three quarters of the previous year to EUR 41.0 million in Q1-Q3 2025/26. Material and fixed cost reductions more than offset the decline in revenues. The challenging market situation was responsible for a decline in revenues and the margin in the Components Segment. Adjusted EBIT in the Components Segments fell from EUR 13.3 million to EUR 5.0 million in Q1-Q3 2025/26.
Negative special effects of EUR -12.7 million were recognised in Q1-Q3 2025/26. They consist primarily of restructuring costs for the termination of production in Highland, New York (EUR -5.3 million) and for the efficiency programme (EUR -1.7 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 19.5 million (Q1-Q3 2024/25: EUR 27.8 million), and the EBIT margin equalled 2.5% in Q1-Q3 2025/26 (Q1-Q3 2024/25: 3.4%).
Financial result in EUR million | Q3 2025/26 | Q3 2024/25 | Change in % | Q1-Q3 2025/26 | Q1-Q3 2024/25 | Change in % |
Interest expense | -2.8 | -2.7 | 3.2 | -7.4 | -8.3 | -10.4 |
Interest income | 0.1 | 0.2 | -41.9 | 0.5 | 0.5 | -7.1 |
Net financing costs | -2.7 | -2.5 | 6.1 | -6.9 | -7.8 | 10.6 |
Other financial income and expenses | -1.1 | -1.3 | 16.9 | -2.6 | -5.6 | -53.6 |
Financial results | -3.8 | -3.8 | 1.8 | -9.5 | -13.3 | 28.6 |
Financial results amounted to EUR -9.5 million (Q1-Q3 2024/25: EUR -13.3 million). Interest expense consisted chiefly of interest expense for current credit agreements, factoring and leasing agreements and totalled EUR -6.9 million (Q1-Q3 2024/25: EUR -7.8 million). The decline is attributable, above all, to lower market interest rates. The other financial income and expenses of EUR -2.6 million consisted primarily of the interest expense on pension obligations, the earnings effects from exchange rate changes and the measurement of hedges.
Profit before tax for the reporting period totalled EUR 10.0 million (Q1-Q3 2024/25: EUR 14.5 million), and income taxes equalled EUR -1.0 million (Q1-Q3 2024/25: EUR -1.4 million). Net profit for the reporting period declined to EUR 9.0 million (Q1-Q3 2024/25: EUR 13.0 million). Earnings per share for the shareholders of Zumtobel Group AG (basic EPS based on 42.3 million shares) equalled EUR 0.22 (Q1-Q3 2024/25: EUR 0.31).
Cash flow
Cash flow statement in EUR million | Q3 2025/26 | Q3 2024/25 | Change in % | Q1-Q3 2025/26 | Q1-Q3 2024/25 | Change in % |
Cash flow from operating results | 11.9 | 11.0 | 8.0 | 64.6 | 69.2 | -6.6 |
Change in working capital | 5.7 | 7.4 | -22.6 | 15.1 | 1.2 | >100 |
Change in other operating items | -16.2 | -2.8 | <-100 | -36.4 | -16.2 | <-100 |
Income taxes paid | -0.1 | -0.5 | 78.2 | -6.5 | -5.3 | -21.8 |
Cash flow from operating activities | 1.3 | 15.1 | -91.3 | 36.8 | 48.8 | -24.5 |
Cash flow from investing activities | -9.6 | -12.5 | 22.8 | -31.4 | -33.1 | 5.3 |
FREE CASH FLOW | -8.3 | 2.6 | <-100 | 5.4 | 15.6 | -65.3 |
Cash flow from financing activities | 1.4 | -15.7 | >100 | 10.0 | -36.3 | >100 |
CHANGE IN CASH AND CASH EQUIVALENTS | -7.0 | -13.1 | 46.7 | 15.4 | -20.6 | >100 |
Cash flow from operating results declined year-on-year from EUR 69.2 million to EUR 64.6 million, chiefly due to the reduction in revenues.
Cash outflows from the changes in other operating positions amounted to EUR -36.4 million in Q1-Q3 2025/26 (Q1-Q3 2024/25: EUR -16.2 million) and resulted mainly from lower provisions for variable salary components and restructuring. Cash flow from operating activities totalled EUR 36.8 million in Q1-Q3 2025/26 (Q1-Q3 2024/25: EUR 48.8 million).
Cash flow from investing activities amounted to EUR -31.4 million (Q1-Q3 2024/25: EUR -33.1 million). In addition to investments in property, plant and equipment, this position also included investments of EUR 11.5 million (Q1-Q3 2024/25: EUR 9.7 million) for capitalised development costs.
Financial results above previous year
Net profit totals EUR 9.0 million
Free cash flow at EUR 5.4 million
Solid balance sheet structure
Free cash flow declined to EUR 5.4 million in the reporting period (Q1-Q3 2024/25: EUR 15.6 million).
Cash flow from financing activities totalled EUR 10.0 million in Q1-Q3 2025/26 (Q1-Q3 2024/25: EUR -36.3 million). The year-on-year change resulted primarily from the increased use of the consortium credit agreement and the loan from the European Investment Bank. A further effect resulted from the reduced dividend payment.
Asset position
Balance sheet data in EUR million | 31 January 2026 | 30 April 2025 |
Total assets | 982.9 | 989.6 |
Net debt | 131.1 | 118.5 |
Debt coverage ratio | 1.59 | 1.36 |
Equity | 426.2 | 424.9 |
Equity ratio in % | 43.4 | 42.9 |
Gearing in % | 30.8 | 27.9 |
CAPEX | 36.0 | 89.7 |
thereof CAPEX excl. IFRS 16 | 32.0 | 54.2 |
Working capital | 212.6 | 227.8 |
As a % of rolling 12 month revenues | 20.4 | 20.8 |
The balance sheet total of the Zumtobel Group equalled EUR 982.9 million as of 31 January 2026 and nearly reflected the level at the last balance sheet date on 30 April 2025 (EUR 989.6 million). Working capital totalled EUR 212.6 million as of 31 January 2026 and was EUR 15.2 million lower than on 30 April 2025 (EUR 227.8 million). The main driver compared with 30 April 2025 involved the reduction of trade receivables. As a per cent of rolling 12-month revenues, working capital declined slightly from 20.8% to 20.4%.
The equity ratio rose to 43.4% as of 31 January 2026 (30 April 2025: 42.9%). Equity increased slightly over the level on 30 April 2025 by EUR 1.3 million from EUR 424.9 million to EUR 426.2 million. Net liabilities totalled EUR 131.1 million as of 31 January 2026 (30 April 2025: EUR 118.5 million). The balance sheet structure of the Zumtobel Group remains stable and strong.
Outlook for the 2025/26 financial year
>>Revenue decline in the single-digit percentage range confirmed
>>Revised guidance: adjusted EBIT margin between 2.5% and 4% (previously: between 1% and 4%)
The market environment remains challenging - for the Zumtobel Group and for other market participants - because economic developments in the Group's key markets are currently impossible to predict. The geopolitical situation is still tense and the impact of US tariff policies - although the direct effects on the Zumtobel Group are minimal because only a very low share of revenue is generated in that market - could further increase competition and slow growth. This directly affects the Zumtobel Group as well as customers who have decided to postpone new construction projects or outsource outside Europe. Demand for the Zumtobel Group's products and services, especially in the new construction sector, is still weak and has been reflected longer customer decision cycles and project delays that additionally impair business activity. In contrast, positive factors include the initiatives at the EU level and in Germany which will strengthen the sector in the future and could contribute to an upturn.
The management of the Zumtobel Group continues to see the current geopolitical and economic situation as stressed and difficult to forecast. That makes it difficult to predict economic developments in the 2025/26 financial year. Against this backdrop and with reference to the above-mentioned uncertainties, the Management Board of Zumtobel Group still expects a revenue decline in the single-digit percentage range for the 2025/26 financial year. The adjusted EBIT margin was previously expected to range from 1% to 4%, but management is now issuing more precise guidance with an adjusted EBIT margin of 2.5% to 4%.
Dornbirn, 5 March 2026 The Management Board
Outlook on 2025/26: Revenue decline in the single-digit percentage range and adjusted EBIT margin of 2.5-4%
Alfred Felder
Chief Executive Officer (CEO)
Thomas Erath
Chief Financial Officer (CFO)
Bernard Motzko
Chief Operating Officer (COO)
Marcus Frantz
Chief Digital Transformation Officer (CDTO)
Consensed Consolidated Interim Financial Statements as of 31 January 2026Zumtobel Group AG has adjusted the scope of the interim reports due to the changed requirements of the "Prime Market Rules" of the Vienna Stock Exchange for first and third quarter interim reporting. Financial information presented in the interim repor t for the third quarter of 2025/26 is fundamentally based on the same accounting and valuation methods underlying the consolidated financial statements of the Zumtobel Group AG for the 2024/25 financial year.
Consolidated Income Statementin TEUR | Q3 2025/26 | Q3 2024/25 | Q1-Q3 2025/26 | Q1-Q3 2024/25 |
Revenues | 237,432 | 250,467 | 775,012 | 828,093 |
Cost of goods sold | (152,360) | (166,581) | (494,452) | (533,407) |
Gross profit | 85,072 | 83,886 | 280,560 | 294,686 |
Selling expenses | (76,323) | (78,064) | (231,311) | (238,692) |
Administrative expenses | (11,040) | (12,453) | (34,478) | (33,782) |
Other operating income | 987 | 4,358 | 6,690 | 6,120 |
Other operating expenses | 70 | 135 | (1,978) | (495) |
Operating profit | (1,234) | (2,138) | 19,483 | 27,837 |
Interest expense | (2,768) | (2,682) | (7,430) | (8,288) |
Interest income | 92 | 159 | 498 | 536 |
Other financial income and expenses | (1,080) | (1,300) | (2,595) | (5,592) |
Financial results | (3,756) | (3,823) | (9,527) | (13,344) |
Profit before tax | (4,990) | (5,961) | 9,956 | 14,493 |
Income taxes | 499 | 596 | (996) | (1,449) |
Net profit/loss for the period | (4,491) | (5,365) | 8,960 | 13,044 |
thereof due to non-controlling interests | (177) | (65) | (241) | (172) |
thereof due to shareholders of the parent company | (4,314) | (5,300) | 9,201 | 13,216 |
Average number of shares outstanding - basic (in 1,000 pcs.) | 42,338 | 42,037 | 42,338 | 42,671 |
Average number of shares outstanding - diluted (in 1,000 pcs.) | 42,338 | 42,037 | 42,338 | 42,671 |
Earnings per share (in EUR) | ||||
Earnings per share (diluted and basic) | (0.10) | (0.13) | 0.22 | 0.31 |
in TEUR | 31 Jan. 2026 | 30 April 2025 |
Goodwill | 194,730 | 196,124 |
Other intangible assets | 57,449 | 53,552 |
Property, plant and equipment | 271,894 | 284,965 |
Financial assets | 3,564 | 4,042 |
Other assets | 2,909 | 3,009 |
Deferred taxes | 37,778 | 33,826 |
Non-current assets | 568,324 | 575,518 |
Inventories | 178,090 | 176,898 |
Trade receivables | 141,467 | 162,435 |
Financial assets | 1,516 | 2,757 |
Other assets | 38,399 | 33,039 |
Liquid funds | 55,127 | 38,935 |
Current assets | 414,599 | 414,064 |
ASSETS | 982,923 | 989,582 |
Share capital | 107,867 | 107,867 |
Additional paid-in capital | 331,620 | 331,620 |
Reserves | (13,751) | (15,441) |
Capital attributed to shareholders of the parent company | 425,736 | 424,046 |
Capital attributed to non-controlling interests | 443 | 859 |
Equity | 426,179 | 424,905 |
Provisions for pensions | 41,017 | 44,406 |
Provisions for termination benefits | 32,964 | 34,273 |
Provisions for other employee benefits | 7,415 | 7,629 |
Other provisions | 14,785 | 16,870 |
Borrowings | 161,936 | 133,844 |
Other liabilities | 20,369 | 19,910 |
Deferred taxes | 3,113 | 3,160 |
Non-current liabilities | 281,599 | 260,092 |
Provisions for taxes | 11,454 | 11,905 |
Other provisions | 23,893 | 31,489 |
Borrowings | 25,629 | 25,019 |
Trade payables | 86,500 | 93,300 |
Other liabilities | 127,669 | 142,872 |
Current liabilities | 275,145 | 304,585 |
EQUITY AND LIABILITIES | 982,923 | 989,582 |
in TEUR | Q1-Q3 2025/26 | Q1-Q3 2024/25 |
Profit before tax | 9,956 | 14,493 |
Depreciation and amortisation | 40,150 | 39,893 |
Impairment of property, plant and equipment and intangible assets | 4,764 | 1,118 |
Gain/loss on the disposal of property, plant and equipment and intangible assets | 222 | (113) |
Other non-cash financial results | 2,595 | 5,592 |
Interest income/ Interest expense | 6,932 | 7,752 |
Changes in the scope of consolidation | 0 | 444 |
Cash flow from operating results | 64,619 | 69,179 |
Inventories | (1,936) | (8,184) |
Trade receivables | 21,346 | 23,815 |
Trade payables | (6,515) | (19,284) |
Prepayments received | 2,207 | 4,805 |
Change in working capital | 15,102 | 1,152 |
Non-current provisions | (10,051) | (9,063) |
Current provisions | (7,516) | 5,263 |
Other assets | (4,778) | (1,497) |
Other liabilities | (14,067) | (10,921) |
Change in other operating items | (36,412) | (16,218) |
Income taxes paid | (6,500) | (5,335) |
Cash flow from operating activities | 36,809 | 48,778 |
Cash inflows from the disposal of property, plant and equipment and other intangible assets | 78 | 374 |
Cash outflows for the purchase of property, plant and equipment and other intangible assets | (31,984) | (35,181) |
Change in non-current and current financial assets | 16 | 1,121 |
Interest received | 503 | 549 |
Cash flow from investing activities | (31,387) | (33,137) |
FREE CASH FLOW | 5,422 | 15,641 |
Cash proceeds from non-current and current borrowings | 50,283 | 25,000 |
Cash repayments of non-current and current borrowings | (26,538) | (39,259) |
Dividend paid to shareholders of the parent company | (6,351) | (10,681) |
Dividend paid to non-controlling interests | (142) | (333) |
Share buyback | 0 | (3,018) |
Interest paid | (7,271) | (7,959) |
Cash flow from financing activities | 9,981 | (36,250) |
CHANGE IN CASH AND CASH EQUIVALENTS | 15,403 | (20,609) |
Cash and cash equivalents at the beginning of the period | 27,494 | 47,625 |
Cash and cash equivalents at the end of the period | 42,125 | 27,244 |
Effects of exchange rate changes on cash and cash equivalents | (772) | 228 |
Change absolute | 15,403 | (20,609) |
General Information
The use of automatic data processing equipment can lead to rounding differences.
Financial Terms
CAPEX Capital expenditure
Debt coverage ratio = Net debt divided by EBITDA
EBIT Earnings before interest and taxes
Adjusted EBIT EBIT adjusted for special effects
Adjusted EBIT margin = Adjusted EBIT as a percentage of revenues
EBITDA Earnings before interest, taxes, depreciation and amortisation
Adjusted EBITDA EBITDA adjusted for special effects
Equity ratio = Equity as a percentage of assets
Gearing = Net debt as a percentage of equity
Net debt = Non-current borrowings + current borrowings - liquid funds
current financial receivables from associated companies - receivables from credit institutions from a continuing involvement based on the factoring agreement
Working capital = Inventories + trade receivables - trade payables - prepayments received
customer bonuses, discounts and rebates
Financial Calendar
Annual Results 2025/26 (1 May 2025 - 30 April 2026) 16 July 2026
Quarterly Report Q1 2026/27 (1 May 2026 - 31 July 2026) 03 September 2026
Record Date for the Annual General Meeting 15 September 2026
50thAnnual General Meeting 25 September 2026
Ex-Dividend Day 29 September 2026
Record Date Dividend 30 September 2026
Dividend Payout Day 02 October 2026
Half-Year Financial Report 2026/27 (1 May 2026 - 31 October 2026) 03 December 2026
Quarterly Report Q1 - Q3 2026/27 (1 May 2026 - 31 January 2027) 04 March 2027
Contact Information
Investor Relations Eric Schmiedchen
Head of Investor Relations Telephone +43 (0)5572 509 1125
E-Mail investorrelations@zumtobelgroup.com
Press / Corporate Communication Sandra Schuster
Head of Group Communications & Public Affairs Telephon +43 (0) 664 80892 6059
E-Mail press@zumtobelgroup.com
Financial Reports
Our financial reports are available in English and German for download under: https://z.lighting/
More Information
on Zumtobel Group AG and our brands can be found on the Internet under: https://z.lighting/
Imprint
Publisher: Zumtobel Group AG, Investor Relations, Eric Schmiedchen Coordination Financials: Alexander Tolksdorf
Translation: Donna Schiller-Margolis Copyright: Zumtobel Group AG 2026
Produced in-house with FIRE.sys
Disclaimer
This report includes statements on future developments, which are based on information available at the present time and involve risks and uncertainties that could cause the results realised at a later date to vary from these forward-looking statements. These statements on future developments are normally characterised by expressions like "preview", "outlook", "believe", "expect", "estimate", "intend", "plan", "goal", "evaluation", "can/could", "become" or similar terms or can be interpreted as a statement on future developments because of the context.The statements on future developments are not to be understood as guarantees. On the contrary, future developments and results are dependent on a wide range of factors and connected with various risks and incalculable events. They are also based on assumptions that may prove to be incorrect. Included here, for example, are unforeseeable changes in the political, economic and business environment, especially in the regions where the Zumtobel Group operates as well as the competitive situation, interest rates and foreign exchange rates, technological developments and other risks and incalculable events. Risks may also arise as a result of price developments, unforeseeable events in the operating environments of acquired companies or Group companies as well as ongoing cost optimisation programmes. Neither the Zumtobel Group nor any persons involved in the preparation of this report accepts any liability whatsoever for the correctness and completeness of the statements on future developments contained in this report.The Zumtobel Group does not plan to update these forward-looking statements. The report is also presented in English, but only the German text is binding. This report does not represent a recommendation or invitation to buy or sell securities issued by the Zumtobel Group.