electrovac AG, a specialist in hermetic glass-to-metal packages for the protection of safety- and system-critical electronics, held its first Annual General Meeting as a listed company, where the Executive Board reaffirmed its recently raised earnings forecast for fiscal year 2026/2027. The virtual meeting, held yesterday, provided shareholders with an update on the company's growth strategy and financial performance, underscoring the company's post-IPO momentum.
According to preliminary figures, revenue in the first half of fiscal year 2026/2027 (1 April to 30 September 2026) rose by 10.4% to EUR 61.5 million, up from EUR 55.7 million in the prior-year period. EBIT increased by 26.1% to EUR 8.2 million, and the EBIT margin improved to 13.3% from 11.7%, even after including one-off IPO costs of EUR 2.3 million. Growth was driven primarily by the Industrials and Aerospace & Defense business areas.
The Executive Board highlighted progress across all four growth initiatives announced at the time of the IPO. In Thailand, electrovac aims to double production capacity; floor space has been doubled, the lease agreement signed, and machinery for a third production line ordered or already being built, with production scheduled to start in September 2027. In China, the company is establishing local final assembly for airbag igniters under a "local for local" principle, with a site decision expected by the end of December 2026. Preparations for a US presence, targeting aerospace and defense, will begin in November 2026. In Aerospace & Defense, capacity expansions in Austria and Germany have been completed, including a two-shift system in Austria and the initiation of EN 9100 certification and Nadcap accreditation in Germany.
For the current fiscal year 2026/2027, the Executive Board reaffirmed its raised earnings forecast, expecting EBIT of EUR 13 million to EUR 14 million and EBIT adjusted for IPO costs of EUR 15 million to EUR 16 million, while the revenue forecast of EUR 120 million to EUR 130 million remains unchanged. CEO Dieter Thumfart stated, "Six months after the IPO, we are delivering on what we announced: we have made good progress with our growth initiatives." He added that adjusted for IPO costs, EBIT is expected to exceed the level of the record year.
At the Annual General Meeting, 83.6% of the share capital was represented, and shareholders approved all resolutions proposed by the Executive Board and Supervisory Board by a large majority, including the discharge of board members, the election of BDO AG Wirtschaftsprüfungsgesellschaft as auditor, and the remuneration systems. The full voting results are available on the electrovac AG website. More information about the company can be found at www.electrovac.com.
