Valmet Oyj's stock exchange release on July 24, 2026 at 9:00 a.m. EEST
Valmet's Half Year Financial Review January-June 2026 Net sales and Comparable EBITA increased in the second quarter
April-June 2026
· Orders received decreased 10 percent to EUR 1,373 million (EUR 1,520 million). Organically orders received decreased 9 percent. The decrease was mainly driven by capital project order intake in the Biomaterial Solutions and Services segment, which decreased from the comparison period but increased sequentially.
· Net sales increased 6 percent to EUR 1,315 million (EUR 1,241 million).
· Comparable EBITA increased 6 percent to EUR 152 million (EUR 143 million). The increase was supported by higher net sales and cost savings from the operating model renewal.
· Comparable EBITA margin remained at the previous year's level at 11.5 percent (11.5%).
· Earnings per share (EPS) increased to EUR 0.40 (EUR 0.15) and adjusted EPS increased to EUR 0.47 (EUR 0.23). The increase in both EPS and adjusted EPS mainly reflects the restructuring expenses related to the operating model renewal in the comparison period.
January-June 2026
· Orders received decreased 14 percent to EUR 2,466 million (EUR 2,852 million). Organically orders received decreased 12 percent.
· Net sales increased 6 percent to EUR 2,560 million (EUR 2,426 million).
· Comparable EBITA remained at the previous year's level and was EUR 266 million (EUR 265 million).
· Comparable EBITA margin was 10.4 percent (10.9%).
· EPS was EUR 0.59 (EUR 0.48). Adjusted EPS was EUR 0.73 (EUR 0.64).
· Cash flow provided by operating activities totaled EUR 100 million (EUR 297 million).
Figures in brackets, unless otherwise stated, refer to the comparison period, i.e., the same period of the previous year.
Key figures1
| EUR million, or as indicated | Q2/2026 | Q2/2025 | Change | Q1-Q2/2026 | Q1-Q2/2025 | Change | |
| Orders received | 1,373 | 1,520 | -10 % | 2,466 | 2,852 | -14% | |
| Order backlog2 |
|
|
| 4,259 | 4,711 | -10% | |
| Net sales | 1,315 | 1,241 | 6 % | 2,560 | 2,426 | 6% | |
| Comparable EBITA | 152 | 143 | 6 % | 266 | 265 | 0 % | |
| % of net sales | 11.5% | 11.5% | 0.0 pp | 10.4% | 10.9% | -0.5 pp | |
| EBITA | 150 | 81 | 86% | 232 | 194 | 19% | |
| Profit for the period | 75 | 28 | >100% | 109 | 89 | 22% | |
| Earnings per share, EUR | 0.40 | 0.15 | >100% | 0.59 | 0.48 | 22% | |
| Adjusted earnings per share, EUR | 0.47 | 0.23 | >100% | 0.73 | 0.64 | 15% | |
| Cash flow provided by operating activities | 65 | 79 | -18% | 100 | 297 | -66% | |
| Free cash flow | 50 | 46 | 8% | 68 | 240 | -72% | |
| Comparable ROCE (LTM)3 |
|
|
| 13.5% | 13.1% | 0.4 pp | |
| ROCE (LTM)3 |
|
|
| 12.3% | 10.4% | 1.9 pp | |
| Net debt to EBITDA ratio (LTM) |
|
|
| 1.42 | 1.60 | -11% | |
| Gearing2 |
|
|
| 39 % | 42 % | -3 pp | |
| 1 The calculation of key figures is presented on section `Formulas for calculation of indicators'. 2 At end of period. 3 Return on capital employed before taxes. 4 Last twelve months' EBITDA. LTM = Last twelve months. | |||||||
Guidance for 2026 unchanged
Valmet reiterates its guidance issued on February 6, 2026, in which Valmet estimates that net sales in 2026 will remain at the previous year's level in comparison with 2025 (EUR 5,197 million) and Comparable EBITA in 2026 will remain at the previous year's level or increase in comparison with 2025 (EUR 620 million).
Short-term market outlook
(July-December 2026)
Valmet's short-term market outlook covers the period July-December 2026, compared with April-June 2026.
It reflects Valmet's estimate of the expected growth rate of its key markets, based on ongoing discussions with customers and other market information.
The outlook describes underlying market trends, excluding the normal seasonal variation in Valmet's business. It should not be interpreted as guidance for Valmet's own orders received.
Process Performance Solutions
Valmet estimates that the market for Process Performance Solutions is expected to remain at low year-over-year growth. At the same time, uncertainty related to the geopolitical situation and global economic outlook remains high, which reduces short-term market visibility.
Biomaterial Solutions and Services
Valmet estimates that the market in Biomaterial Solutions and Services will remain similar to the second quarter. However, it is typical that the timing of customers' large investment decisions can have a significant impact on market activity in any individual quarter. The biomaterial services market is expected to remain soft in the coming quarters. Uncertainty related to the geopolitical situation and global economic outlook remains high, which reduces short-term market visibility.
Segment key figures
| Orders received, EUR million | Q2/2026 | Q2/2025 | Change | Q1-Q2/2026 | Q1-Q2/2025 | Change |
| Process Performance Solutions | 379 | 376 | 1% | 779 | 782 | 0% |
| Biomaterial Solutions and Services | 994 | 1,144 | -13% | 1,687 | 2,070 | -19% |
| of which biomaterial services | 493 | 534 | -8% | 999 | 1,102 | -9% |
| Total | 1,373 | 1,520 | -10% | 2,466 | 2,852 | -14% |
| Net sales, EUR million | Q2/2026 | Q2/2025 | Change | Q1-Q2/2026 | Q1-Q2/2025 | Change |
| Process Performance Solutions | 370 | 372 | 0% | 711 | 711 | 0% |
| Biomaterial Solutions and Services | 945 | 869 | 9% | 1,849 | 1,715 | 8% |
| of which biomaterial services | 475 | 460 | 3% | 889 | 893 | 0% |
| Total | 1,315 | 1,241 | 6% | 2,560 | 2,426 | 6% |
| Comparable EBITA, EUR million | Q2/2026 | Q2/2025 | Change | Q1-Q2/2026 | Q1-Q2/2025 | Change |
| Process Performance Solutions | 69 | 66 | 4% | 132 | 121 | 9% |
| Biomaterial Solutions and Services | 98 | 87 | 12% | 162 | 169 | -4% |
| Other | -15 | -10 | -52% | -28 | -26 | -11% |
| Total | 152 | 143 | 6% | 266 | 265 | 0% |
| Comparable EBITA, % of net sales | Q2/2026 | Q2/2025 | Change | Q1-Q2/2026 | Q1-Q2/2025 | Change |
| Process Performance Solutions | 18.7% | 17.8% | 0.9 pp | 18.6% | 17.0% | 1.5 pp |
| Biomaterial Solutions and Services | 10.4% | 10.0% | 0.3 pp | 8.8% | 9.9% | -1.1 pp |
| Total | 11.5% | 11.5% | 0.0 pp | 10.4% | 10.9% | -0.5 pp |
| EBITA, EUR million | Q2/2026 | Q2/2025 | Change | Q1-Q2/2026 | Q1-Q2/2025 | Change |
| Process Performance Solutions | 71 | 53 | 34% | 133 | 107 | 25% |
| Biomaterial Solutions and Services | 96 | 50 | 90% | 128 | 131 | -2% |
| Other | -16 | -22 | 27% | -29 | -43 | 32% |
| Total | 150 | 81 | 86% | 232 | 194 | 19% |
Letter from President and CEO:
Net sales and Comparable EBITA increased in the second quarter
"In the second quarter of 2026, the decisive actions we took last year to strengthen Valmet's competitiveness continued to deliver - net sales grew organically, and comparable EBITA increased. This came against a market environment that remained cautious overall, though with early indications that capital project activity in our biomaterial businesses is gradually recovering from an unusually subdued start to the year.
Orders received totaled EUR 1.4 billion, with organic order intake down 9 percent against a demanding comparison period. Biomaterial capital orders totaled EUR 501 million, a clear step up from Q1 and consistent with our view of gradually improving capital project activity. Biomaterial services markets remained soft, but the market is stabilizing. Process Performance Solutions delivered organic order growth of 1 percent, in line with the low-growth market environment we described in Q1, including notable wins in the marine segment.
Net sales grew 6 percent organically. Comparable EBITA increased by EUR 9 million year-on-year, supported by higher net sales and cost savings. The comparable EBITA margin was 11.5 percent, flat year-on-year. On a year-to-date basis, comparable EBITA is now slightly ahead of last year, demonstrating the resilience of our full-year trajectory despite the softer start to 2026.
The measures taken to renew Valmet's operating model continue to deliver tangible results. On a last-twelve-months basis, our comparable SG&A costs are now EUR 79 million lower than in the full year 2024. We also continued to implement the production footprint plans we outlined earlier this year.
Shortly after the quarter ended, on 1 July, we closed the Severn acquisition and welcomed approximately 950 new colleagues to Valmet. Severn's offering is a natural complement to ours, and we see a strong cultural fit between our organizations. The acquisition is another step in the systematic development of Valmet's portfolio and further strengthens the strategic role of the Process Performance Solutions business as an important driver of the Group's growth and profitability. Severn expands the segment's addressable market and increases the segment's annualized net sales to approximately EUR 1.7 billion. At this scale, we can respond faster to customers wherever they operate and invest with more conviction in the technology and service capabilities they need.
We are reiterating our guidance for 2026. Looking ahead, geopolitical and macroeconomic uncertainty remains elevated, and customers are likely to remain selective in their investment decisions. With Severn now part of Valmet and the cost discipline we have demonstrated over the past year continuing, we are well positioned to deliver and to keep building a stronger, more resilient Valmet, over the long term."
Thomas Hinnerskov
President and CEO
News conference and webcast for analysts, investors and media
Valmet will host a results webcast in English as a live webcast at https://valmet.events.inderes.com/q2-2026 on Friday, July 24, 2026, at 10:00 a.m. Finnish time (EEST). President and CEO Thomas Hinnerskov and CFO Katri Hokkanen will be presenting the results.
Recording of the webcast will be available shortly after the event on the same address.
Participants may also join the news conference via a conference call by registering at:
https://events.inderes.com/valmet/q2-2026/dial-in
After the registration you will receive dial-in details and a conference ID. To ask a question during the call, please dial #5 on your telephone keypad.
The event is held in English
Further information:
Pekka Rouhiainen, VP, Investor Relations, Valmet, tel. +358 10 672 0020
VALMET
Katri Hokkanen
CFO
Pekka Rouhiainen
VP, Investor Relations
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.valmet.com
Valmet is a global technology leader in serving process industries. We work with our customers throughout the lifecycle, delivering cutting-edge technologies and services, as well as mission-critical automation and flow control solutions. Backed by more than 225 years of industrial experience and a global team of 18,500 professionals close to customers, we are uniquely positioned to transform industries toward a regenerative tomorrow.
In 2025, Valmet's net sales totaled approximately EUR 5.2 billion. Our head office is in Espoo, Finland, and we have experts in approximately 40 countries around the world. Valmet's shares are listed on Nasdaq Helsinki.
Follow us on valmet.com | X | LinkedIn | Facebook | YouTube | Instagram |
Attached file: View report (PDF)
Ålandsbanken kommer med €45 på en illgrön dag och aktien backar över en procent.
Den gick upp 23% i fredags. Det känns ganska rimligt att den backar lite idag.
Hoppas de knoppar av " Lill Atlas" dvs Automationsdelen , där lär det även kunna bli en fin förvärvsresa. Tror marginalerna i den delen är över 18%
Ja, och som jag har ökat, blivit bland mina största köp någonsin så va lite nervös inför denna dag
Jag gjort ett par mindre ökningar till lågt pris med för jag tror stenhårt på att de lär bli väldigt lönsamma. Dagen nyhet om avknoppning gör inte saken sämre.
Här har man åkt rutschkana ett längre tag nu, helt skinnflådd i baken så hoppas det vänder upp igen!
Börsgudarna belönar de tålmodiga. Idag kan det bli en rekorddag för Valmet.
Finska verkstadsjätten Valmet redovisar starkare siffror än väntat för det andra kvartalet. Prognosen för helåret upprepas.
Omsättningen steg 6,0 procent till 1 315 miljoner euro (1 241). Utfallet kan jämföras med Vara Researchs analytikerkonsensus som låg på 1 242.
Ebita-resultatet uppgick till 150 miljoner euro (81), med en ebita-marginal på 11,4 procent (6,5).
Det justerade ebita-resultatet uppgick till 152 miljoner euro (143), väntat 140, med en justerad ebita-marginal på 11,6 procent (11,5).
Resultatet efter skatt blev 75 miljoner euro (28).
Resultat per aktie uppgick till 0,40 euro (0,15). Justerat resultat per aktie blev 0,47 euro (0,23).
Orderingången landade på 1 373 miljoner euro (1 520), vilket är 7,1 procent högre än analytikerkonsensus.
Kassaflödet från löpande verksamhet uppgick till 65 miljoner euro (79).
Verkstadsbolaget upprepar sin prognos för 2026. Bolaget räknar fortsatt med en omsättning i nivå med 2025, då den uppgick till 5 197 miljoner euro, och att jämförbar ebita blir oförändrad eller högre än 2025 års 620 miljoner euro.
Valmet bedömer att marknaden för Process Performance Solutions fortsätter att visa låg tillväxt under andra halvåret 2026. Marknaden för Biomaterial Solutions and Services väntas vara i nivå med andra kvartalet, medan biomaterialservice väntas förbli svag. Bolaget lyfter samtidigt fram att geopolitisk osäkerhet och den globala konjunkturen begränsar den kortsiktiga marknadssikten.
STOCKHOLM (Nyhetsbyrån Direkt) Finländska Valmets styrelse har beslutat att inleda en strategisk översyn för att utvärdera en möjlig separation av bolagets två kärnverksamheter - Biomaterial Solutions and Services samt Process Performance Solutions - till två fristående börsnoterade bolag i Helsingfors.
Det framgår av ett pressmeddelande.
Målet är att bedöma om en uppdelning skulle skapa större aktieägarvärde än nuvarande struktur. Styrelsen pekar på att verksamheterna redan är stora, lönsamma och till stor del oberoende, med olika marknader, affärsdrivare och kapitalbehov.
Biomaterial Solutions and Services fokuserar på massa-, kartong-, pappers-, tissue- och energisektorerna, medan Process Performance Solutions är ett globalt automations- och flödeskontrollbolag med bred industriexponering.
Bolaget ska ge en uppdatering om översynen senast i samband med bokslutet för 2026.
Automationsdelen är ju ett pe 22 bolag så vore nog inte så dumt med att separera
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