TPE Q2 2026 - Preliminary Earnings Alert

Event: Quartr Q2 2026 event Retrieved: 2026-08-06T10:25:00Z Comparison mode: maximal Scorecard contract: v1 Source status: release=available | financials=earnings release and half-year interim report | transcript=available (complete, non-live)

Consensus scorecard

Reported results and guidance

• Scorecard recap: no formal beat/miss is published for this event because API Ninjas carries no consensus row for the XETRA listing TPE; Q2 revenue was EUR 65.664m and IFRS basic and diluted EPS was EUR (0.04).
• The company confirmed full-year 2026 guidance but said EBITDA is now expected in the lower half of the EUR 26m-31m range because of first-half earnings performance.
• CEO Jalin Ketter said metrology capacity is "already fully utilized through mid-2027" and that capacity under construction is filling with customer projects and initial reservations for 2028.
• Sequentially, Q2 revenue of EUR 65.7m rose from EUR 54.9m in Q1 and EBITDA rose from EUR 1.4m to EUR 3.0m, lifting the quarterly EBITDA margin to 4.6% from 2.5%.
• Asia accounted for EUR 114.8m, or 61%, of first-half order intake.
• The segment structure was changed during the reporting period: the former Semiconductor Systems and Industrial Systems segments were replaced by Material Solutions and Metrology.

Key bullish aspects

• Order intake of EUR 186.7m in the first half rose 80.1% against EUR 103.6m, and both segments contributed almost equally rather than the growth resting on one product line.
• The book-to-bill ratio of 1.55 against 0.87 a year ago means the company booked roughly half again as much business as it billed, rebuilding backlog after a period of drawing it down.
• Metrology order intake of EUR 97.7m rose 83.3% and Material Solutions order intake of EUR 89.0m rose 76.9%, so the order recovery is broad.
• Quarterly revenue of EUR 65.664m grew 8.0% year over year and rose 19.6% sequentially from EUR 54.9m in Q1, so the top line inflected within the half rather than only in the comparison.
• Quarterly EBITDA of EUR 3.0m more than doubled from EUR 1.4m in Q1 and the EBITDA margin rose to 4.6% from 2.5%, evidence the first-quarter trough is behind the operating result.
• Management states metrology capacity is fully utilized through mid-2027 with capacity under construction already filling for 2028, which puts a multi-year utilization floor under the higher-margin segment.
• Metrology revenue grew 20.0% in the half to EUR 53.0m and lifted its share of group revenue to 44% from 37%, shifting mix toward the segment the company describes as carrying a largely unchanged high gross margin.
• Follow-on orders in high-bandwidth memory and indium phosphide place the company in two application areas tied to AI infrastructure and optical data transmission rather than to the depressed general German machinery cycle.
• Cash used in investing fell 57.7% to EUR 6.9m from EUR 16.3m, so the heavy capacity-expansion spending of the prior-year period has moderated.
• Contract liabilities rose 31.5% to EUR 47.6m since December, consistent with customer prepayments on the newly booked orders.
• Full-year guidance was confirmed rather than cut, and the medium-term ambition of approximately EUR 500m of revenue was reaffirmed.

Key bearish aspects

• The quarter swung to a loss on every earnings line: EBIT of EUR (81)k against EUR 4,175k, profit before tax of EUR (399)k against EUR 3,626k, and profit for the period of EUR (721)k against EUR 2,688k.
• First-half EBITDA of EUR 4.4m fell 70.6% from EUR 14.9m and the EBITDA margin compressed 8.9 points to 3.6% from 12.5%, on essentially flat revenue.
• Gross margin fell in the quarter as well as the half, to 30.0% from 33.5% and to 29.3% from 33.3%, which management attributes to low capacity utilization, weak fixed-cost coverage, and Material Solutions product mix.
• Cost of goods sold rose 13.8% in the quarter against 8.0% revenue growth, so the incremental revenue came at a below-average margin.
• All three operating expense lines grew far faster than revenue in the quarter: administrative expenses +21.8%, distribution costs +16.5%, and research and development +12.0% against +8.0% revenue.
• Other operating income fell 52.0% in the quarter to EUR 0.9m from EUR 1.9m, and the EUR 1.0m decline is larger than the EUR 0.08m operating loss, so this line alone accounts for the swing from profit to loss.
• Material Solutions revenue fell 10.5% in the half to EUR 67.6m, and it remains the larger segment at 56% of group revenue.
• Cash and cash equivalents fell 64.6% since December to EUR 6.3m from EUR 17.9m, and net financial position deteriorated 25.7% to EUR (38.3)m of net debt.
• Operating cash flow of EUR 1.9m covered only 28% of the EUR 6.9m invested in the half, and financing outflows of EUR 6.9m rose 61.5%.
• Receivables and other assets rose 32.8% and inventories rose 8.0% since December while half-year revenue was flat, so working capital absorbed cash.
• The EBITDA guide was effectively narrowed downward within a confirmed range: EBITDA is now expected in the lower half of EUR 26m-31m, and first-half EBITDA of EUR 4.4m leaves EUR 21.6m-26.6m to be earned in the second half.
• Headcount rose 12.4% to 1,043 while revenue was flat, adding fixed cost ahead of the revenue the order book is expected to deliver.
• Equity fell 1.3% since December to EUR 140.9m while total assets rose 9.0%, so the balance sheet grew on liabilities rather than retained earnings.

Key uncertainties

• No API Ninjas consensus row exists for TPE, so there is no external estimate against which to judge whether the 8.0% revenue growth or the EUR (0.04) loss per share met, beat, or missed the market's expectation.
• The company describes "one-time expenses not attributable to the period" as a driver of first-half earnings but does not quantify them in either document, so the underlying run-rate margin cannot be separated from the one-offs.
• The sales-promotion initiative in new-customer business named as a one-time driver of higher distribution costs is not sized.
• The second-half EBITDA implied by guidance is EUR 21.6m-26.6m against EUR 4.4m delivered in the first half, a step-up of roughly five times, and the documents attribute it to project timelines and gross-margin recovery without giving a quarterly phasing.
• Quarterly segment revenue and segment profitability are not disclosed; only first-half segment revenue and first-half order intake are given, so the Q2 sequential improvement cannot be attributed to a segment.
• Prior-year quarterly EBITDA is not disclosed, so the EUR 3.0m in Q2 2026 cannot be compared year over year, only sequentially against Q1's EUR 1.4m.
• Order backlog in euros is not stated as a balance; only order intake and book-to-bill are given, so the absolute revenue coverage entering the second half is not determinable.
• The company says "a significant portion of the newly secured orders will not be recognized in revenue and earnings until later reporting periods" without specifying how much falls beyond 2026.
• Revenue growth of 8% in the quarter is stated by the company at the group level; whether Material Solutions returned to year-over-year growth in Q2 in absolute euros is asserted but not quantified.
• The Q2 income taxes charge of EUR 323k against a EUR 399k pre-tax loss, versus a EUR 127k benefit for the half, implies an unusual interim tax pattern that neither document explains.
• The segment structure was redefined this period, so the Material Solutions and Metrology prior-year comparatives are restated presentations of the former Semiconductor Systems and Industrial Systems segments, and the documents do not show the bridge.
• Tariff and export-restriction risk in the U.S. is named as an area of particular attention but is not quantified, and 61% of order intake came from Asia.
• The Quartr transcript for this event is complete and non-live but was not read for this preliminary; management's account of the one-time effects, the second-half EBITDA ramp, and the cash decline is assessed at the post-call stage.

Market context

• No API Ninjas price or volume snapshot is available for the XETRA listing TPE, so no market reaction is stated. The release was published at approximately 05:00Z on 2026-08-06, before the German cash-market open, and the analyst call was held at 07:00Z.

Source limitations

• Every actual above comes from the Quartr Q2 2026 earnings release (3963341) and the Quartr half-year interim report (3676496) attached to the same event. Quartr standardized financials were not used for this preliminary.
• API Ninjas carries no earnings-calendar row for TPE, so both scorecard rows show the estimate as unavailable and no formal Beat, Miss, or In line result is published. This is a coverage gap in the consensus provider, not a failure of the release. The company's ordinary shares trade on XETRA under ISIN DE0007461006; no depositary listing is configured in config/listing-map.json for this issuer.
• The interim report states it has been neither audited under Section 317 HGB nor reviewed by an auditor.
• The income statement extraction preserved all four columns. Each column was checked to foot: Q2 2026 gross profit less distribution, administrative and research costs plus other operating income less other operating expenses equals the stated EUR (81)k EBIT exactly, and the same check holds for Q2 2025 and both half-year columns. Revenue less cost of goods sold differs from the printed gross profit by EUR 1k in the Q2 2026 column and profit for the period differs by EUR 1k from pre-tax profit less taxes in two columns; these are rounding in the source and the printed subtotals are reproduced as printed.
• The balance sheet table lost column alignment in extraction. Assignments were verified arithmetically: non-current asset components sum to the stated EUR 118,362k total, and current plus non-current assets sum to the stated EUR 310,231k, with the same checks holding on the equity and liabilities side.
• Quarterly EBITDA of EUR 3.0m, Q1 EBITDA of EUR 1.4m, the 4.6% and 2.5% quarterly EBITDA margins, first-half segment order intake, the Asia order-intake share, and the book-to-bill ratio are quoted from the release and interim-report narrative; the documents do not print a quarterly EBITDA reconciliation.
• Gross margin percentages for the quarter are calculated here from the statement's own revenue and gross profit; the company prints only the half-year margins, which agree with its stated 29.3% and 33.3%.
• EBITDA is not defined in these documents as a reconciled non-GAAP measure; the figures are the company's own.
• The key-figures table prints equity "in % of revenue" as 45.4% and 50.2%, but those ratios reconcile to total assets rather than revenue, so no equity ratio is reproduced above.
• Year-over-year and period-over-period percentage changes are calculated from the documents' own columns.
• The presentation slides (3973638) attached to this event were not read for this preliminary.

Source links

• Quartr Q2 2026 earnings release
• Quartr Q2 2026 half-year interim report
• Quartr interim report key figures page
• Quartr interim report guidance page
• Quartr interim report condensed income statement page
• Quartr interim report condensed cash flow statement page