MAIRE: H1 2026 results — €3.7bn revenues, strong order intake and M&A in Nextchem
- Revenues were €3.68 billion in H1 2026, up 6.9%.
- EBITDA reached €266.2 million (+14.7%) with a margin of 7.2%; net income was €157.2 million (+18.3%).
- Order intake in H1 was €7.22 billion, raising backlog to €16.27 billion at 30 June 2026.
- Nextchem completed the acquisition of Ballestra (100%) and the purchase of 70% of ETEK, expanding fertilizer and critical/precious-metals recovery technologies.
Financial results
Revenues were €3.682 billion in H1 2026 (+6.9%) and EBITDA was €266.2 million (+14.7%), lifting the EBITDA margin to 7.2%. Net income was €157.2 million (+18.3%). Amortization and provisions were €36.7 million; pre-tax income €226.3 million and tax provision €69.1 million.
Cash, capex and capital actions
Adjusted net cash stood at €301.1 million at 30 June 2026 versus €395.1 million at 31 December 2025, after €204.0 million of capex (including M&A), €194.4 million of dividends and €81.1 million of share buy-backs. M&A investments totalled €165.9 million.
Business-unit performance
Sustainable Technology Solutions (STS) revenues rose to €285.7 million (+46.9%) with EBITDA €68.0 million (margin 23.8%). Integrated E&C Solutions (IE&CS) reported revenues of €3,396.7 million (+4.5%) and EBITDA €198.2 million (margin 5.8%).
Orders, backlog and projects
H1 2026 order intake was €7,215.8 million, with STS at €556.9 million and IE&CS at €6,658.9 million, taking backlog to €16,270.9 million. New July awards brought year-to-date orders to €8.4 billion; MAIRE targets at least €9 billion for FY 2026.
M&A and post-period events
Nextchem closed Ballestra on 25 June 2026 (€148.2 million) and acquired 70% of ETEK on 16 June 2026 (total consideration €11.1 million). After the period MAIRE completed a €115 million top-up to a sustainability-linked Schuldschein on 14 July and secured a ~€1.3 billion fertilizer contract in Argentina on 20 July.
Outlook
MAIRE reconfirmed 2026 guidance, citing mitigation measures for Middle East operations, contribution from recent acquisitions to STS growth, and increasing contributions from projects in other geographies.
Source: Maire