SAF Tehnika (SAF1R) Q2 25/26 earnings summary

Executive summary

• Net turnover for Q2 2025/2026 reached EUR 15.23 million, doubling year-over-year; six-month turnover was EUR 23.35 million, up 50% from the prior year.

• Q2 net profit was EUR 2.74 million, a significant increase from EUR 228 thousand in Q2 2024/2025; six-month net profit was EUR 3.43 million, up from EUR 1.04 million.

• Regional sales mix shifted, with Europe and CIS accounting for 57% of Q2 turnover, Americas 29%, and Asia/Africa/Middle East 14%.

• A new subsidiary, SAF LATAM S.A.S., was established in Colombia to strengthen South American presence.

Financial highlights

• Q2 EBITDA was EUR 3.50 million (23% margin), up from EUR 447 thousand (6%) a year earlier.

• Q2 EBIT reached EUR 3.06 million (20% margin), compared to EUR 33 thousand (0%) in Q2 2024/2025.

• Total assets at period end were EUR 31.6 million, up from EUR 23.6 million a year earlier.

• Cash balance at period end was EUR 8.7 million; net cash flow for the year was EUR 3.9 million.

• Earnings per share for Q2 was EUR 0.92, up from EUR 0.08 in Q2 2024/2025.

Outlook and guidance

• The Board remains cautious and does not provide specific sales or operational forecasts.

• Focus remains on stabilizing turnover and maintaining a positive net result long-term.

• Continued investment in product development, manufacturing capacity, and supply chain independence, especially for the defense segment.