PRESS RELEASE
- Strong Growth in 2026 Half-Year Results
- EBITDA up +37.6%
- Net income of €7.5 million, up 17.5%
- 2026 targets: €110 million in revenue with an EBITDA margin of 18%
- Adjustment of targets for 2027-2030
Saint-Georges-sur-Loire, October 1, 2026 - 5:45 p.m. - STIF (FR001400MDW2, ALSTI), a specialist in explosion protection, has published its 2026 consolidated half-year financial statements (ended June 30, 2026), which were approved by the Board of Directors at its meeting on October 1, 2026.
A limited review of the half-year financial statements was conducted, and the auditor's report was issued.
Simplified Income Statement
| in €M | June 30, 2026 | June 30, 2025 | Change |
| Revenue | 55.3 | 36.7 | +50.8% |
| Total gross margin | 35.5 | 24.3 | +46.1% |
| % of revenue | 64.3% | 66.2% | -1.9 points |
| EBITDA | 12.6 | 9.1 | +37.6% |
| % of revenue | 22.8% | 24.9% | -2.1 points |
| Operating income | 11.1 | 8.4 | +32.3% |
| Financial income | (0.5) | (0.4) | + 22.6% |
| Extraordinary income | - | - | - |
| Income taxes | (2.7) | (1.1) | + 144.1% |
| Net income of consolidated entities | 7.8 | 6.8 | + 14.6% |
| Net income attributable to the Group | 7.5 | 6.4 | +17.5% |
Strong growth in half-year results and a solid financial position
The STIF Group's consolidated revenue totalled €55.3 million for the first half of 2026, up +50.8% compared to the first half of 2025, including an unfavorable currency effect of -€1.5 million (2.7%).
As of June 30, 2026, gross profit totalled €35.5 million, representing 64.3% of revenue, an increase of 46.1% in value compared to the first half of 2025.
EBITDA rose to €12.6 million, compared with €9.1 million a year earlier, up 37.6%.
The 22.8% EBITDA margin reflects an unfavorable currency effect related to changes in the EUR/USD exchange rate.
Operating income also posted strong growth, reaching €11.1 million compared to €8.4 million a year earlier, representing an increase of 32.3%.
Net financial income was -€0.5 million, up 22.6%.
After accounting for income tax expense, net income attributable to the Group totalled €7.5 million, up 17.5% compared to the same period of the previous fiscal year.
As of June 30, 2026, the Group had available cash of €19.5 million, an improvement compared to December 31, 2025 (€18.8 million); net debt stood at €26.3 million, resulting in a gearing ratio of 0.7.
Total equity also increased, reaching €37.1 million at the end of June 2026, compared to €32.0 million as of December 31, 2025.
2026 Targets: €110 million in revenue and an EBITDA margin of 18%
For the full fiscal year 2026, STIF is targeting revenue of approximately €110 million and EBITDA of approximately €18 million, representing an EBITDA margin of about 18%.
This trend in sales and operating profitability is primarily due to a slowdown in deliveries to Tesla beginning at the end of the second half of 2026.
Adjustments to the manufacturing setup and cost structure starting in 2027
The Group reports that Tesla USA has selected alternative safety systems for its new BESS model, the MEGAPACK 3, which do not include STIF products.
As a result, the STIF Group will no longer generate revenue from this major customer in 2027, which will impact its financial performance. The new target for 2027 is to achieve revenue of €100 million and an EBITDA margin of around 15%.
To limit the impact on profitability, STIF is implementing a plan to adapt its industrial operations and cost structure. This plan focuses in particular on adjusting production capacity and investments in France, resizing the resources directly allocated to the affected volumes, and controlling external expenses and overhead costs.
These measures will run parallel to the gradual ramp-up of new orders and business development initiatives undertaken with other players in the BESS sector.
Revised 2030 Targets
The Group is now targeting revenue of approximately €170 million by 2030, down from the previous target of €200 million, as well as an EBITDA margin of around 17%, down from the previous target of over 20%.
This trajectory is based on the continued growth of the BESS business with a gradually expanding customer base, the Group's expansion in Asia, the development of active and passive protection against industrial explosions, and the opening of new application markets.
Accelerating Diversification of the BESS Customer Portfolio
In parallel with this development, STIF is actively pursuing the diversification of its customer portfolio among the world's leading energy storage players.
The Group has secured new orders from BYD totalling €5 million, with deliveries scheduled for 2027.
STIF has also successfully conducted fire resistance tests on its explosion protection panels in collaboration with CATL. This new requirement from customers in the BESS sector demonstrates the quality and reliability of STIF's products in thermal runaway scenarios. These tests mark a new milestone in the qualification process for STIF's solutions with CATL and pave the way for substantial commercial growth opportunities for fiscal year 2027 and beyond.
To support its expansion in Asia and strengthen its ties with the world's leading manufacturers of batteries and energy storage systems, the Group has opened a sales office in Shenzhen, at the heart of the BYD campus.
Global players such as BYD and Huawei have chosen to establish a presence in southern China, which is now regarded as China's Silicon Valley and the global capital of electronics. STIF's Shenzhen office will serve the world's most dynamic market for the deployment of BESS projects.
Release of the Half-Year Financial Report
The half-year financial report, including the consolidated financial statements as of June 30, 2026, will be available no later than October 31, 2026, in the "Financial Information" / "Financial Documents" section of the Company's website: https://investir.stif.fr/.
STIF, the explosion protection specialist
Founded in 1984, the STIF Group is a French industrial company specializing in the design, manufacture, and marketing of innovative industrial equipment for niche markets. Historically focused on handling equipment for bulk products, such as elevator buckets, lifting straps, and compression fittings, the family-owned group has diversified over the past decade by expanding into the field of passive and active protection against industrial dust explosion hazards, as well as into protection against explosion risks in battery energy storage systems (BESS). With nearly 400 employees, internationally recognized and listed product lines, and five factories located in France, Belgium, Asia, and the U.S., the Group aims to become a global leader in industrial and energy safety, both in Europe and internationally.
Contacts
| STIF External Relations Department Géraldine Baudouin direction@stifnet.com 02 41 72 16 83 | SEITOSEI.ACTIFIN Investor Relations Ghislaine Gasparetto stif@seitosei-actifin.com 06 85 36 76 81 | SEITOSEI.ACTIFIN Media Relations Isabelle Dray isabelle.dray@seitosei-actifin.com 06 85 36 85 11 |
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