electrovac AG, a specialist in hermetic glass-to-metal packages for the protection of safety- and system-critical electronics, held its first Annual General Meeting as a listed company, the company announced via NEWMEDIAWIRE. At the virtual meeting, CEO Dieter Thumfart outlined business performance and the progress of the company's growth strategy, and the Executive Board reaffirmed its recently raised earnings forecast for the current fiscal year.
According to preliminary figures, revenue in the first half of fiscal year 2026/2027 (1 April to 30 September 2026) rose by 10.4% to EUR 61.5 million, up from EUR 55.7 million in the prior-year period. EBIT increased by 26.1% to EUR 8.2 million from EUR 6.5 million, and the EBIT margin improved to 13.3% from 11.7%, even though EBIT includes one-off IPO costs of EUR 2.3 million. Growth was driven primarily by the Industrials and Aerospace & Defense business areas.
The Executive Board focused its remarks on the four growth initiatives announced at the time of the IPO. In Thailand, electrovac aims to double production capacity; floor space has already been doubled, the lease agreement has been signed, and machinery for a third production line has been ordered or is being built, with production scheduled to start in September 2027. In China, the company is setting up local final assembly for airbag igniters under a "local for local" principle, with a site decision expected by the end of December 2026; China accounted for around 28% of Group revenue in fiscal year 2025/2026. In the USA, preparations to establish its own presence begin in November 2026, targeting the aerospace and defense market. In Aerospace & Defense, electrovac expanded capacity in Austria and Germany, introduced a two-shift system in Austria, and initiated EN 9100 certification and Nadcap accreditation in Germany, completing the first milestone of its 2026/2027 roadmap.
For fiscal year 2026/2027, the Executive Board expects EBIT of EUR 13 million to EUR 14 million and EBIT adjusted for IPO costs of EUR 15 million to EUR 16 million, while the revenue forecast of EUR 120 million to EUR 130 million remains unchanged. The upward revision reflects positive development in the Aerospace & Defense and Industrials business areas and operating performance above expectations. "Six months after the IPO, we are delivering on what we announced," Thumfart said, adding that adjusted for IPO costs, EBIT is expected to exceed the level of the record year.
At the Annual General Meeting, 83.6% of the share capital was represented, and shareholders approved all resolutions proposed by the Executive Board and Supervisory Board by a large majority. The full voting results are available on the company's website at https://www.electrovac.com/investor-relations/hauptversammlung/. The reaffirmation of the raised forecast matters for investors and the wider supply chain, signaling that demand for safety- and system-critical electronics remains robust despite a challenging geopolitical environment, and that capacity investments in Thailand, China and the USA are on track.
