France's ENOGIA H1 revenue rises on industrial contracts
France's ENOGIA H1 revenue rises on industrial contracts
Overview
France micro-turbomachinery maker's H1 2026 revenue rose 32% yr/yr, driven by industrial contracts
EBITDA margin increased to 15.4%, with net profit up 208% yr/yr
Company secured €5.4 mln in EU funding for factory and technology expansion
Outlook
ENOGIA confirms 2026 target of revenue growth above 30% and further EBITDA margin improvement
Company reiterates Turbo 2028 targets: €25 mln revenue and 20% EBITDA margin by 2028
ENOGIA expects positive free cash flow through 2028, excluding Energy as a Service investments
Result Drivers
INDUSTRIAL CONTRACTS - Growth in ORC Modules business, especially from major contracts for hydrogen fuel cell equipment in South Korea, drove revenue gains
PRODUCTION CAPACITY - Commissioning of new Marseille facility tripled production capacity, supporting execution of strategic plan
WORKING CAPITAL & INVESTMENTS - Negative free cash flow resulted from working capital pressures due to delayed customer payments and increased investments in new factory and product development
Company press release: ID:nEQ6KmRgKa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Income |
| EUR 111,000 |
|
H1 EBITDA |
| EUR 1.1 mln |
|
H1 Operating Income |
| EUR 148,000 |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the heavy electrical equipment peer group is "buy."
Wall Street's median 12-month price target for Enogia SA is €7.00, about 8% above its September 8 closing price of €6.48
The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 31 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)