Publication of Inside Information according to [Art. 17 MAR]

INDUS Holding AG raises its guidance for the 2026 financial year

Bergisch Gladbach, July 29, 2026 – Against the backdrop of the ongoing exceptional performance in the Materials Solutions segment, the Board of Management of INDUS Holding AG today raised its guidance for financial year 2026. The continued global supply shortage of tungsten carbide and the resulting extreme increase in material prices led to an even stronger rise in revenue than previously expected at the segment’s largest portfolio company. As a result, the INDUS Board of Management has raised the guidance ranges for consolidated revenue, adjusted EBITA, and the adjusted EBITA margin.

Against the backdrop of this exceptional development, the Board of Management now expects the following for the INDUS Group in financial year 2026:
• Revenue: EUR 1.90 to 2.10 billion (previously: EUR 1.85 to 2.05 billion)
• Adjusted EBITA: EUR 220 to 260 million (previously: EUR 160 to 190 million)
• Adjusted EBITA margin: 11.0 to 13.0% (previously: 8.0 to 10.0%)

Despite the very high prices of tungsten carbide, the Board of Management has made the conscious decision to maintain the supply capacity of the affected portfolio company. This enabled the company to fulfill high-margin additional orders across all application areas, gain market share, and strengthen the company’s market position as a reliable business partner. As expected, this resulted in a significant increase in working capital. The increase was financed through additional borrowing, improved earnings, and, to a lesser extent, support from customers. The Board of Management is maintaining its guidance for free cash flow in 2026 at at least break-even.

For the Materials Solutions segment, INDUS continues to expect a strong increase in revenue and, now, a very strong increase in segment earnings (previously: strong increase). The margin range is now expected to be between 15.0% and 17.0% (previously: 8.0% to 10.0%).

The effects of these developments will be clearly reflected in the key figures for the first half of 2026, which remain preliminary at the time of this announcement:
• Revenue: 965.2 million EUR (H1 2025: 836.6 million EUR)
• Adjusted EBITA: EUR 123.5 million (H1 2025: EUR 56.1 million)
• Adjusted EBITA margin: 12.8% (H1 2025: 6.7%)

Compared to the year-end 2025 level, working capital increased significantly and more strongly than usual. This was partly attributable to customary seasonal effects, and partly due to the rise in tungsten carbide prices. Nevertheless, free cash flow was positive in the second quarter of 2026 and amounted to -36.9 million EUR for the first half of 2026 (H1 2025: -7.9 million EUR).

The Engineering and Infrastructure segments performed in line with expectations.

It is currently not foreseeable when and at what level prices for tungsten carbide will normalize. For the remainder of the financial year, persistently high material costs and a further increase in working capital are expected. The margin level of the Materials Solutions segment will subside over the course of the year due to the delayed strong rise in material costs. In addition, high price levels and renewed competition from Chinese suppliers could dampen demand and customers' willingness to pay in certain industries, which may adversely affect revenue and earnings.

The interim report for the first half of 2026 will be published as planned on August 12, 2026.

Adjusted EBITA is calculated by adding back PPA amortization and impairment to EBIT, and subtracting any reversals of impairment losses. For further details, please refer to page 58 of INDUS’s 2025 Annual Report.

Note:
This announcement contains forward-looking statements. These statements are based on the current views, expectations, and assumptions of the management of INDUS Holding AG and involve known and unknown risks and uncertainties that could cause actual results, outcomes, or events to differ materially from the express or implied statements contained herein. INDUS Holding AG assumes no obligation to update forward-looking statements.

Axel Meyer

COO Engineering
Axel Meyer (German citizen, born 1968) has been a member of the INDUS Board of Management since October 2017.

Until joining INDUS, he held various management positions at Schuler AG, most recently as Managing Director of Schuler Pressen and Head of the Service Division of the Schuler Group, Goeppingen, Germany.

Previously, Axel Meyer worked as a member of the Board of Management of the international management consultancy IMAGIN Prof. Bochmann AG, Eppstein im Taunus, Germany. He started his professional career in the Schuler Groups’ Solid Forming Division, initially in global sales and later as Division Manager.

Axel Meyer studied industrial engineering in Germany and the USA and earned a Master of Mergers & Acquisitions (LL.M.) at the Frankfurt School of Finance & Management while working. 

Gudrun Degenhart

COO Materials Solutions
Gudrun Degenhart (German citizen, born 1970) has been a member of the Board of Management of INDUS since October 2023.

She has more than 20 years of experience in the management and development of portfolio companies in Europe, the USA and the Asia-Pacific regions.

Prior to joining INDUS, she served as the CEO of the German portfolio companies of the international service group ISS. She previously worked for the thyssenkrupp Group, serving as the CEO of the international business unit for special lifts, as well as the CEO of Materials Western Europe and Asia-Pacific . She gained experience in medium-sized companies as a board member of the construction technology company Schöck.

A graduate in business administration, she began her career by building up the Central and Eastern European operations of the construction specialist Lindner Group.

Dr. Jörn Großmann

COO Infrastructure
Dr. Jörn Großmann (German citizen, born 1968) has been a member of the INDUS Board of Management since January 2019.

Up until joining INDUS, he worked for the Dutch group Aalberts Industries, with his last position being the sole managing director of Impreglon, Lüneburg, Germany.

He previously held various positions at the Georgsmarienhütte Group, initially becoming managing director of Mannstaedt, Troisdorf, Germany and later managing director of GMH Edelstahl Service Center Burg and GMH Engineering. Before Dr. Großmann became the managing director of Buderus Feinguss, Moers, Germany, he worked as a development engineer and as a technical director for Doncasters Precision Castings, Bochum, Germany.

He studied material sciences and earned a doctorate in the field of natural sciences.

Dr. -Ing. Johannes Schmidt

CEO
Dr. -Ing. Johannes Schmidt (German citizen, born 1961) has been a member of the Board of Management of INDUS since January 2006. He has held the position of CEO since July 2018.

Dr. -Ing. Schmidt was previously the sole managing director of ebm-papst Landshut, Germany, a manufacturer of ventilation motors and fans. During his tenure there, his main achievements included advancing the development of new product platforms and the internationalization of production sites.

Dr. -Ing. Schmidt began his career at Richard Bergner, a manufacturer of electrical instruments from Schwabach, Germany. He initially led product development before rising to the position of managing director during his 12 years at the company.

Schmidt, who studied mathematics, gained an engineering doctorate in mechanics from the Technical University of Darmstadt. 

Rudolf Weichert

CFO
Rudolf Weichert (German citizen, born 1963) is the CFO and deputy Chair of the Board of Management of INDUS.

Before joining the INDUS Board of Management in June 2012, he was a Partner at KPMG for nine years. He spent three of those years in Detroit, Michigan, United States, where he worked mainly with companies in the engineering and materials trading industries.

Mr. Weichert, who holds a masters degree in business administration, worked for KPMG for about 20 years, primarily in the firm’s Duesseldorf office, where he worked mainly with multinational manufacturing corporations.