SCHMID N : Investor Call May 18, 2026
SHMD
Published on 05/18/2026 at 02:35 am EDT
2025 Results Presentation
May 18, 2026
Today's Presenters
Arthur Schuetz
Chief Financial Officer
Roland Rettenmeier
Chief Sales Officer
Last twelve months - Repositioning of SCHMID
− Operational recovery in H2 2025
− Last six months key transformation milestones:
− secured solid financing
− reduced debt
− increased investor engagement
− increasing focus on margins
− Increased shareholder alignment through greater equity-based management and board compensation
− Commercializing new products and positioning for significant growth from next-generation technologies
Business Update
New products leading to above market growth
Bottom to Top Plating
(InfinityLine P+)
Trench etching
(PlasmaLine)
Bottom to Top Plating
(InfinityLine P+)
Photo process
(InfinityLine H+ & V+)
Results
Equipment
Base
Chemical Mechanical Polishing
Surface Treatment
(InfinityLine H+)
Shift from Wafer Level to Panel Level Packaging
Global PLP market 3-4x-fold by 2030
Panel 310 x 310 mm
Panel 515 x 510 mm
Panel 600 x 600 mm
Panel =
DNA
Wafer 300 mm
Larger packages drive shift from wafer level packaging towards
panel level packaging.
Growing package sizes
SCHMID leadership in growing panel size and glass core substrates
AI Server Boards & Optical Modules pushing for new Advanced Packaging Strategies
E
T Board
Glass Core Substrate
PCB
Line/Space Geometries
Advantage
Challenge
5-8 µm (CoWoS-L) - Large Si interposer 8-12 µm (CoWoS-R) - RDL
10-15 µm (CoWoS-S) - Si bridge
Mature technology - current HVM
solution
Warpage risk with larger packages. Substrate losses.
Large Si interposer
Shorter signal path, better thermal
design flexibility
high yield risk
Large Si interposer
More precise and shorter signal path, higher wiring density, perfect thermal design flexibility
Mature Board technology
Precise and short signal path, higher wiring density, excellent thermal design flexibility
New products adopted well by the market
SCHMID moving from product launch into commercialization
InfinityLine C+
Vertical spin wet processing / SPM cluster
First single modules installed at key customers in 2023
Cluster-type R&D systems installed in
2024 and 2025
Cluster-type HVM systems installed in 2025 and 2026
InfinityLine L+
Full-panel CMP / AMP SPM
Two single module installed at key customers in 2021 and 2022
Innovation Award on Productronica
2025 with L+ Mk II
Two L+ installed at key customer in China in 2025/2026
Cluster-type L+ will be installed in July 2026
InfinityLine P+
Panel-level plating / ECD cell adoption
First single modules installed at key customer in 2023
First cluster-type installed in 2023
Full cluster-type installed in 2026
C+ anchors the wet-process cluster base L+ and P+ extend the same modular platform logic into CMP and ECD, enabling
integrated flows for advanced substrates, PLP and high-density PCB applications.
Financial Update
2025: A year of two halves
Strong H2 2025 recovery positions business for profitable growth in 2026
IFRS (€K)
Underlying
2022 adj.
audited
2023 adj.
audited
2024 adj.
audited
H1 2025 adj.
unaudited
H2 2025 adj.
implied
2025 adj.
audited
2026
guidance
Order
intake (€M)
81
44
22
91
~114
Revenue
95,058
90,246
60,836
16,892
50,053
66,945
> 100,000
Und.
EBITDA
19,937
17,177
(4,764)
(5,284)
6,552
1,267
Margin
21.0%
19.0%
(7.8%)
Neg.
13.1%
1.9%
>> 12%
Und. EBIT
13,654
10,273
(12,079)
(7,832)
4,276
(3,557)
Margin
21.0%
19.0%
(7.8%)
NM
8.5%
NM
EBITDA and EBIT are non-GAAP financial measures which include management adjustments, see appendix. FY2025 are preliminary, estimated and FY2026 figures are estimates by management based on order status and expected market developments. EBITDA, EBIT and margins are underlying
as explained in appendix
IFRS (€K)
2022
2023
2024
2025
Inventory
25.029
16.353
15.734
18.112
Trade receivable
43.680
46.925
38.221
33.653
Other current assets
4.815
5.073
3.054
3.918
Total WC assets
73.524
68.351
57.009
55.683
Current contract liabilities
30.569
17.391
11.284
13.555
Trade payables
25.400
25.899
28.179
38.071
Other current liabilities
8.706
13.113
17.513
15.505
Current provisions
360
973
184
415
Income tax liabilities
1.615
1.858
1.364
531
Total WC liabilities
58.435
47.636
42.472
68.343
Total WC
6.874
9.117
(1.515)
(12.660)
As % sales
7%
10%
(2%)
(19%)
Working capital reset investments required to support growth
Improving business performance and limited financing flexibility led to a working capital underinvestment of around €20 million at year-end
Improve format
ting late
r
Working capital mostly replenished now
Strengthened balance sheet supports next growth phase
€30.75 million debt to equity swap by end of quarter
(€K)
Non-current
Current
Total
Swap
Convert
Pro forma
Loans from banks
1,191
1,232
2,423
2,423
Black forest term loan facility
574
-
574
574
Other third party loans
2,200
3,114
5,314
15.319
20,614
Loans from shareholders
21,000
4,611
25,611
(21,850)
3,761
Loans from other related parties
11,000
8,634
19.634
(8,900)
10,734
Total debt
35.965
17,591
53.556
30,750
15.319
38,106
Property lease
Outstanding convertible instruments (partially
converted)
Recently secured $30m standby equity facility with Institutional Investor
Flexible, on-demand access to equity capital, at
Company discretion
Enables opportunistic funding aligned with market conditions
Supports execution of growth strategy while
minimizing dilution upfront
Cost Saving Initiatives
Additionally, program to further reduce listing related costs in 2026 and 2027
− Assembly operations in Germany and China remain capacity-constrained and unaffected
− Cost base in Germany increased 2025 vs. 2023 due to headcount expansion in G&A, Engineering, and R&D, outpacing revenue growth
− Efficiency program initiated (Jan 2026) to realign cost structure
− Targeting at least €4m sustainable annual
"Sprint" German HQ overhead cost reduction (€4MM annual savings)
− ~€0.5m one-time restructuring costs Total Fluctuation Temp contracts Short labour /
terminations
Other
Trading update
− Seasonally weak Q1 order intake of €13.6m (equipment) and revenues of €18.2m
− Order book remains strong at €49m at end Q1 (equipment)
− Very strong business momentum in China, slower order momentum in Europe, delaying orders to H2 2026
− Expect Q2 order intake to improve significantly compared to Q1
− Based on current visibility SCHMID reaffirms its full-year 2026 guidance, the Company continues to expect revenues exceeding €100m, an Adjusted EBITDA margin significantly exceeding 12% and order intake of approximately €114m for the fiscal year 2026
The financial information presented in this press release for the first quarter of 2026 is preliminary and unaudited. Actual results may differ from the preliminary estimates presented herein. Order intake and order backlog are operational metrics used by management to evaluate the Company's business activity and visibility of future revenue. These metrics are not measures defined under International Financial Reporting Standards ("IFRS") and may not be comparable to similarly titled measures used by other companies.
Appendix
EBITDA Bridge
IFRS (€K)
2022
2023
2024
2025
Net income for the period
3,5G1
37,G54
(84,104)
(71,100)
Income tax
(1,924)
2,778
(1,492)
(41)
Financial result
11,988
(9,594)
3,824
72,178
DA
6,283
6,904
7,315
4,824
Share in equity investments
-
1,057
-
406
Adjusted EBITDA
1G,G37
3G,0GG
(74.457)
6,267
Adjustments
Listing expenses
71,631
Other listing costs
8,653
1,765
Silicon receivable reversal
(21,375)
Bonus payments entity disposals
(9,200)
SES deconsolidation gain
(3,703)
Shareholder loan waiver
(5,000)
Total adjustments
-
(21,G22)
6G,6G3
(5,000)
Underlying EBITDA
1G,G37
17,177
(4,764)
1,267
Margin
21.0%
12.0%
(7.8%)
1.2%
Adjusted EBITDA is a non-GAAP financial measure which includes management adjustments. Underlying EBITDA would have been as above if listed adjustments had been made
Cashflow Summary
IFRS (€K)
2023
2024
2025
Income (loss) from continued operations
37,G54
(84,104)
(71,100)
Income tax expense (benefit)
2,778
(1,492)
(41)
Financial result
(8,537)
3,824
72,178
Depreciation and amortization
6,904
7,923
4,824
Net losses / (gain) from disposal of intang, + PP&E
(602)
(133)
3
Reversal of impairments of financial assets net
(22,696)
(20)
-
Other non-cash expenses
182
(1,432)
(5,000)
Change in equity method investments
405
Change in non-current financial assets non-cash
(8,478)
Listing expense
-
71,631
-
Non cash effects
(3,447)
Working capital adjustments:
Changes in trade and other receivables
(6,729)
(3,580)
3,704
Changes in inventories
8,244
619
(1,967)
Change in trade and related party payables
(6,823)
5,086
9,982
Change in provisions
382
(598)
132
Taxes paid
(1,161)
(302)
54
Cash provided by (used in) operating activities
G,8G7
(2,578)
1,250
Purchases of intangible assets and PPE
(6,G07)
(5,111)
(6,357)
of which PPE purchase:
(3,c02)
(1,120)
(1,487)
Regional and segment revenue split
Revenue split by region (2025)
11%
15%
38%
6%
30%
Revenue split by segment
2025 (€K)
Revenues
Technical equipment and
processes
54,446
Spare Parts
7,767
Service
4,117
Other
615
Total
66,945
Thank you for your Attention!
Please feel free to contact us if you have any questions
+49 7441 538 0
Robert-Bosch-Str. 32-36
72250 Freudenstadt
https://www.schmid-group.com
Disclaimer
Schmid Group NV published this content on May 18, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 18, 2026 at 06:34 UTC.