NCTE AG: Revenue up 53% in the first half of 2026 – EBITDA still negative, but significantly improved

Revenue H1 2026: EUR 2.3m (+53% vs. prior year)
EBITDA: improved to EUR –357k (prior year: EUR –848k)
Order intake: down at EUR 1.8m – sales team strengthened for the second half of the year
Segments E-Bike, Off-Highway, Medical: main drivers of revenue growth
FY 2026 guidance: confirmed

NCTE AG generated revenue of EUR 2,302k in the first half of 2026 – an increase of 53% compared to the prior-year period (H1 2025: EUR 1,508k). EBITDA remained negative at EUR –357k, but improved by EUR 490k year-on-year (H1 2025: EUR –848k).

E-Bike, Off-Highway and Medical contribute to revenue growth

Revenue growth was driven by several segments. In the E-Bike segment, call-offs from existing key customers as well as the acquisition of a new customer contributed to growth. In Off-Highway, the effects of an intensified sales focus are becoming visible. The Medical segment recorded the strongest relative growth. The Industry, Standard Sensors and Motorsport segments developed more weakly in the first half of the year.

Order intake and order backlog in focus

Order intake amounted to EUR 1,752k in the first half of 2026 (prior year: EUR 3,093k). The book-to-bill ratio was 0.76 (prior year: 2.05). The order backlog as of 30 June 2026 was EUR 2.9m (prior year: EUR 4.1m; 31 December 2025: EUR 3.3m).

According to the Management Board, the lower order intake is attributable to project-related fluctuations as well as ongoing customer negotiations. For the second half of the year, NCTE has strengthened its sales team and further focused its market approach to strengthen the order pipeline.

Statement by the Management Board

“Revenue and EBITDA improved in the first half of 2026 compared to the prior-year period. The development confirms our operational progress. For achieving our full-year targets, order intake and pipeline development in the second half of the year are key. We are addressing this with a strengthened sales organization and a focused market approach,” says Sebastian Müller, Management Board member of NCTE AG.

Outlook 2026

In the second half of the year, the focus is on strengthening the order pipeline and validating optimized components. In parallel, NCTE is working on the further development of its technology platform and selected innovation projects to support step-by-step implementation in its target markets.

Based on this, the Management Board confirms the guidance for FY 2026, with expected revenue between EUR 4.4m and EUR 5.4m and EBITDA between EUR –0.5m and EUR +0.1m. The Management Board assumes expected call-offs from existing customer projects as well as projects currently under negotiation.

Invitation to the Earnings Call

NCTE AG invites investors and analysts to an earnings call on its H1 2026 results. The call will take place on Wednesday, 29 July 2026 at 14:00 (CEST) via Microsoft Teams. The dial-in link and further information are available on the company’s IR website: https://ncte.com/unternehmen/ir/. No recording is planned.

Note

The figures for H1 2026 and the guidance for FY 2026 included in this announcement are based on preliminary, unaudited results.

Forward-looking statements

This announcement contains certain forward-looking statements that involve risks and uncertainties and reflect NCTE AG’s assessment at the time of publication. Such forward-looking statements are neither promises nor guarantees, but depend on numerous risks and uncertainties, many of which are beyond NCTE AG’s control. This may cause actual results to differ materially from those contemplated in such forward-looking statements. NCTE AG expressly assumes no obligation to update or revise forward-looking statements to reflect changed expectations or new events, conditions or circumstances on which such statements are based.