LPKF Laser & Electronics SE

LPK

Equity

ISIN DE0006450000 / Valor 967495

Xetra (2026-02-27)

EUR 7.40%

LPKF Laser & Electronics SE
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About company

LPKF Laser & Electronics SE, headquartered in Garbsen near Hannover, Germany, is a leading global technology company specializing in laser technology, precision mechanics, and software. Founded in 1976, LPKF has established itself as a pioneer in providing laser-based solutions for the electronics, automotive, solar energy, and pharmaceutical industries, among others. The company's laser systems play a crucial role in the development and manufacturing of printed circuit boards, microchips, automotive parts, solar modules, and precision glass components, enabling customers to produce smaller, more precise parts while enhancing functionality and design possibilities. With a presence in over 70 countries, 11 subsidiaries across Europe, Asia, and North America, and approximately 750 employees worldwide, LPKF continues to invest in innovative processes to open new growth markets and maintain its competitive edge. The company's shares are listed on the Prime Standard of the Deutsche Börse.

Summarized from source with an LLMView SourceSector: Technology

Key headline figures

H1 2025 revenue €59.2m (H1 2024: €55.2m). H1 EBIT -€1.7m; adjusted EBIT -€0.7m. Q2 2025 revenue €33.8m; Q2 adjusted EBIT €2.8m. Diluted EPS H1 -€0.12. Free cash flow H1 negative €9.4m. Orders in H1 €43.0m (prior year €61.1m); order backlog €34.8m (prior year €65.5m).

Revenue and profitability trend

Revenue improved YoY driven mainly by Welding and Development. Adjusted profitability materially improved vs. H1 2024 (adjusted EBIT moved from -€5.1m to -€0.7m), reflecting intensified cost‑saving measures and a stronger Q2 earnings contribution.

Orders, backlog and demand

Incoming orders weakened: H1 orders €43.0m (-30% YoY) and backlog down ~47% to €34.8m. Management attributes weak order intake to investment restraint and geopolitical uncertainty, notably impacts from US tariff policy and softer demand in parts of Asia and the Chinese solar market.

Segments — mixed performance

Segment H1 revenue/adjusted EBIT (EUR m): Electronics €12.2 / -4.6; Development €11.7 / -1.0; Welding €13.1 / +1.8; Solar €22.2 / +3.1. Welding and Development showed clear growth and margin improvement; Electronics and Solar lagged, with Solar affected by Chinese market shifts toward lower‑cost local systems.

Cash, working capital and balance sheet

Cash and equivalents €3.5m at 30 June 2025. Net working capital €43.2m (up vs prior year), and equity ratio ~67.7%. Free cash flow was negative (~-€9.4m) in H1 driven by negative operating cash flow and investment in development capitalisation (€3.1m).

Outlook and guidance

Management confirms 2025 guidance: consolidated revenue €125–140m and adjusted EBIT margin 6–9% (adjusted EBIT ~€8–12m). Q3 2025 guidance: revenue €22–28m and adjusted EBIT between -€3.5m and €0.5m. Medium‑term target: mid‑to‑high single‑digit core growth and double‑digit Group EBIT margin via scaling and new business areas.

Risks and management actions

Primary near‑term risk is geopolitical/trade uncertainty (US tariff policy) depressing customer investment and order timing. Management is focused on cost optimization, working‑capital management and portfolio/product focus (e.g., modularization, market concentration) to protect margins and liquidity.

Summarized from source with an LLMView Source

Key figures

-17.4%1Y

-34.5%3Y

-71.6%5Y

Performance

35.4%1Y

34.8%3Y

41.8%5Y

Volatility