Biesse first-half revenue falls 3.6% as cost reductions lift adjusted EBITDA

Biesse Group reported first-half 2026 revenue of €311.1 million, down 3.6% from €322.8 million a year earlier, as geopolitical uncertainty, weaker machinery demand and adverse currency movements continued to affect global investment decisions.

Foreign exchange reduced revenue by €6.9 million compared with the first half of 2025. At constant exchange rates, the company said the decline would have been limited to 1.5%. Order intake reached €299.8 million, down 4%, improving slightly from the 4.7% decline reported after the first quarter but remaining below expectations.

Adjusted EBITDA increased 8% to €17.3 million, while the adjusted EBITDA margin rose to 5.6% from 5%. Biesse attributed the improvement to its contingency plan, including reductions in fixed operating expenses and personnel costs. Fixed operating expenses declined 9.6% to €40.6 million, while personnel expenses fell 7.5% to €111.1 million.

Second-quarter results showed a clearer sequential improvement. Revenue declined 2.6% year over year to €165 million, compared with a 4.7% decline in the first quarter. Second-quarter adjusted EBITDA increased 27.7% to €14.8 million. EBIT reached €10.9 million, supported partly by releases of provisions related to favourable developments in legal proceedings.

The group posted a first-half net profit of €0.2 million, compared with a €7.1 million loss in the same period of 2025. Lower operating and labour costs contributed to the improvement, although lower volumes, weaker margins, higher transportation costs and negative foreign exchange effects continued to weigh on results.

Revenue mix shifted modestly toward service and parts, which represented 22.6% of sales, up from 21.7%. Machines and lines accounted for 67.1%, compared with 67.8% a year earlier. Wood remained Biesse’s largest material segment at 72.4% of machinery and lines revenue.

EMEA increased its share of group revenue to 64.5% from 61.1%, supported particularly by Spain and Portugal. The Americas accounted for 23.4% of revenue and declined 4.6%, while APAC’s share fell to 12.1% from 15.1%.

Biesse ended June with 3,601 employees, down 106 from a year earlier and 651 below June 2024. The reduction was concentrated in Italy following manufacturing-site closures in the north of the country, while employment outside Italy increased.

Net financial debt excluding IFRS 16 reached €19.6 million, compared with net cash of €1.5 million at the end of 2025. The €21.1 million deterioration reflected seasonal working-capital absorption, including a €15.2 million inventory increase, as well as capital spending, rents, taxes and interest. Management expects working capital to gradually normalize during the second half.