Strong Q2 performance: Orders increased 16% year over year to €516 million, backlog rose nearly 20% to about €1.3 billion, and organic sales grew 9.4% to €496 million. Adjusted EBITDA climbed 22% to €42 million, lifting the margin to 8.5%. North America and Europe delivered broad-based growth: North American sales rose 11%, supported by walk-in vans, airport operations and Royal production, while Europe and Rest of World reported 7% sales growth and a 25% increase in adjusted EBITDA.
A new seven-year, $96 million U.S. frame agreement is expected to begin generating revenue in 2027. Synergies are rising while guidance is maintained: Aebi Schmidt increased its annual synergy target to more than $40 million and expects €37 million in synergies by the end of 2026. Despite tariff, supply-chain and material-cost pressures, the company reaffirmed its 2026 sales and adjusted EBITDA guidance, while leverage declined to 2.7 times.
Aebi Schmidt (NASDAQ:AEBI) reported higher second-quarter sales, orders and profitability, citing stronger backlog conversion, operational efficiency gains and progress on integration synergies following its acquisition of The Shyft Group. Group order intake increased 16% year over year to EUR 516 million, while order backlog rose nearly 20% to approximately EUR 1.3 billion. Net sales increased 9.4% organically to EUR 496 million.
Adjusted EBITDA rose 22% to EUR 42 million, and the adjusted EBITDA margin expanded about 90 basis points to 8.5%. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Chairman and Group CEO Barend Fruithof said net income increased by EUR 18 million from the prior-year quarter. "Profitability increased over proportionally compared to sales," he said, attributing the improvement to production ramp-ups, operating efficiencies, accelerated acquisition synergies and cost controls. North America delivered 11% sales growth during the quarter, with demand and backlog conversion in walk-in vans contributing to the increase, according to CEO of North America Steffen Schewerda.
The segment's backlog increased about 27% year over year, while adjusted EBITDA rose approximately 22%. → Nebius' Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Schewerda said the business benefited from completed production ramp-ups, stronger airport operations, and a record quarter at Royal, where service-body production increased more than 20% above historical averages. The company also completed its Joliet production ramp-up, with customer deliveries proceeding as planned, and began commercial upfitting operations at its Iowa site. Municipal operations are expected to follow at that location.
During the quarter, Aebi Schmidt secured a seven-year, $96 million frame agreement with a strategic U.S. customer for walk-in vans and cargo vans. Schewerda said the agreement marked an expansion of the company's offering with that customer, which has been a partner for more than two decades. → On Holding's Price Stumble May Be an Opening for a Company Built to Run However, management said the agreement was not included in reported backlog because the company generally books frame contracts only after receiving purchase orders. The first revenue from the contract is expected in 2027.
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