Savox Communications Plc | Stock Exchange Release | August 18, 2026 at 09:00:00 EEST
Strong order growth and improved financial position support the outlook for the second half of the year
This release is a summary of Savox's Half-year 2026 Financial Report. The complete report is attached to this release and it is also available on the company's website at investors.savox.com.
HIGHLIGHTS
April - June
- Orders received amounted to EUR 13.4 (9.3) million, up 44%
- Order book at the end of the period was EUR 36.2 (35.0) million. Including options the order book was EUR 61.5 (39.8) million
- Revenue was EUR 12.4 (10.8) million, up 15%
- Operating profit was EUR -0.8 (-0.2) million, or -6% (-2%) of revenue.
- Comparable EBIT was EUR 0.0 (0.0) million, or 0% (0%) of revenue
- Cash flow from operating activities was EUR -2.1 (-1.2) million
- The IPO significantly strengthened the company's balance sheet and financial flexibility
Net debt decreased to EUR 14.1 million, while cash and cash equivalents increased to EUR 16.4 million.
January - June
- Orders received amounted to EUR 37.1 (25.2) million, up 47%
- Order book at the end of the period was EUR 36.2 (35.0) million. Including options, the order book was EUR 61.5 (39.8) million
- Revenue was EUR 22.6 (20.2) million, up 12%
- Operating profit was EUR -1.6 (-1.6) million, or -7% (-8%) of revenue
- Comparable EBIT was EUR -0.7 (-1.3) million, or -3% (-6%) of revenue
- Cash flow from operating activities was EUR -4.9 (-4.3) million
GUIDANCE FOR 2026 (UNCHANGED)
Savox expects revenue to increase to EUR 65-75 million and the comparable operating profit margin to be 14-18%
KEY FIGURES
CEO REVIEW
Savox's commercial performance developed strongly during the first half of 2026. Orders received increased by 47% to EUR 37.1 million. Revenue grew by 12% to EUR 22.6 million. The order backlog increased to EUR 36.2 million and, including options, reached EUR 61.5 million, improving our visibility for the remainder of the year and supporting our growth outlook.
The strong development in our order backlog was not yet fully reflected in first-half earnings and cash flow. Comparable operating profit (EBIT) was EUR -0.7 million, and cash flow from operating activities was EUR -4.9 million. This was primarily due to the normal seasonality of our business, lower delivery volumes during the first half, IPO-related costs, and preparations for deliveries scheduled for the second half of the year.
Market fundamentals remained strong throughout the review period. The modernization of defense capabilities, force protection, situational awareness, interoperability, and operational efficiency continue to be key priorities for our customers. We continue to see strong demand for both dismounted and vehicle-mounted solutions and believe Savox is well positioned to benefit from the long-term growth of the mission-critical communications market.
Our business is inherently weighted toward the second half of the year, and deliveries under defense programs continue to be concentrated in the latter part of the year. A strong order backlog, high customer activity, and increasing delivery volumes support revenue growth during the second half. At the same time, an improved product mix, economies of scale from higher volumes, and the scalability of our business model support improved profitability.
We have prepared for increasing delivery volumes by strengthening our operational capabilities, capacity, and working capital. This supports our delivery capability for defense programs and other strategic customers. At the same time, the Safety & Security business is developing according to plan and strengthening a more recurring revenue base, supported by demand for critical communication and protection solutions.
One of the significant events during the review period was the successful IPO, through which we substantially strengthened our financial position. Net debt decreased to EUR 14.1 million from EUR 36.6 million at the beginning of the year, while cash and cash equivalents increased to EUR 16.4 million. A stronger balance sheet provides us with greater opportunities to invest in technology, delivery capability, and growth.
We maintain our guidance for 2026 and expect revenue to be between EUR 65-75 million and the comparable operating profit margin to be between 14-18%. Our confidence is supported by a strong order backlog, robust market demand, deliveries weighted toward the second half of the year, and the preparations we have already made to enable growth.
EVENTS AFTER THE REPORTING PERIOD
No significant events after the review period.
WEBINAR
The result webinar will be held today on 18 August at 1:00 p.m. EEST. The webinar will be conducted in English, and the presentation material will be available in English. Participants can join the webinar via the following link: https://savox.events.inderes.com/q2-2026.
A recording of the presentation will be made available on the Company's website at investors.savox.com after the event.
CONTACT INFORMATION
Jerry Kettunen
CEO
tel. +358 40 044 4615
Juha Järvi
CFO
tel. +358 50 367 2286
Savox in brief
Savox is a Finnish company operating in the critical communications sector that offers a wide range of communication devices and solutions for global defence, law enforcement, fire and rescue, and industrial markets. The Company has a broad product portfolio covering tactical communication controllers, advanced hearing protection, rugged ICT devices, search and rescue systems, and next-generation intercom and vision solutions. Savox's end customers include, among others, defence forces, law enforcement authorities, fire and rescue organisations, and industrial professionals. The Company's solutions support these customers' safe and effective communication, coordination, and operation, particularly in demanding field conditions. Our revenue in 2025 was EUR 56.1 million.
Image Attachments
Image 1787031538354
