SMAG Mobile Antenna Masts AG · XETR:1SMA
SMAG Mobile Antenna Masts — H1 2026 Earnings Presentation
15 slides from SMAG Mobile Antenna Masts's earnings presentation, Sep 29, 2026
Slide 1: Earnings Presentation H1 2026
Connection Confirmed. EARNINGS PRESENTATION H1 2026 29 SEPTEMBER 2026 FAST. STRONG. RELIABLE. www.smag.de 1
Slide 2: Your speakers today
Your speakers today Ulrich Feindt Kai Oppermann CEO / CFO COO • 15 years of experience in industrial production, • 15 years of experience in managing technology based, spanning various C-level roles medium-sized companies • Responsible for strategic direction • Responsible for overseeing day-to-day
Slide 3: SMAG enables a communication ecosystem for the modern and next-generation battlefield
SMAG enables a communication ecosystem for the modern and next-generation battlefield 3 4 5 2 Drone defense 6 Support for radar Electronic warfare 5 6 7 1 4 Ground-based air defense Border control 1 7 2 3 Communication Physical AI platforms(1) Integrating cross-domain capabilities to deliver “Kampfw
Slide 4: Best-in-class, modular products across mission-critical deployment scenarios
Best-in-class, modular products across mission-critical deployment scenarios(1) Product overview - mobile antenna mast systems Key features(2) Deployment method Speed ► Set up in under 10 minutes On truck On armoured In container On trailer ► Max. 2 operators needed ► Fully automatic deployment vehi
Slide 5: Positioned as a key enabler of primes and neo-primes in modern warfare
Positioned as a key enabler of primes and neo-primes in modern warfare Primes and neo-primes rely on resilient, rapidly deployable infrastructure for tactical communications Legacy defense Next-generation companies & system integrators defense-tech companies Primes Prime and neo-prime enablers Neo-p
Slide 6: Overview: H1 2026 at a glance – highlights and key figures
Overview: H1 2026 at a glance – highlights and key figures ◼ IPO completed in July 2026: the proceeds provide funding to strengthen €20.2m technological leadership, scale the business and prepare the company for future Total Output growth. (+20% vs. H1 2025) ◼ Signing of Bundeswehr’s TaWAN LBO progr
Slide 7: IPO funding enables growth acceleration
IPO funding enables growth acceleration Use of proceeds Growth Investment (~€20m) ✓Support automation initiatives, production scaling and sales personnel expansion, in line with SMAG’s operational and international growth strategy ~16% Working Capital Investment (~€5.0m) ~€30 m ✓Primarily to support
Slide 8: High revenue visibility from exceptional order backlog
High revenue visibility from exceptional order backlog, increase of fixed order backlog in H1 2026 by 30% Total order book backlog breakdown, as of 30 June (€m)(1) ◼ Fixed order backlog increased by 30% to €182m (30 Dec 2025: €140m) following a €34m follow-on order from a long-standing customer for
Slide 9: Total output and net sales positively impacted by execution of strong order backlog
Total output and net sales positively impacted by execution of strong order backlog Total Output and Net Sales (€m) Net sales mix H1 2025 H1 2026 20.2 25% 17% Mast systems Net Sales Aftermarket services Net Sales(2) 16.9 75% 83% 10.3 12.6 11.0 7.9 ◼ Total Output increased by 20% YoY, primarily drive
Slide 10: Adjusted EBIT mainly impacted by organizational scaling
Adjusted EBIT mainly impacted by organizational scaling Adj. EBITDA & Adj. EBIT (€m), margins in % of Total Output ◼ Profitability declined versus H1 2025, primarily due to an 16.7% 16.3% 13.6% 13.0% increased operating expense base and organizational scaling to 2.8 2.7 1.1 support next phase of gro
Slide 11: Highly cash-generative business model with limited capital intensity
Highly cash-generative(1) business model with limited capital intensity supports strong Free Cash Flow conversion Key cash flow items (€m) ◼ The increase in inventories, driven by €m H1 2026 H1 2025 backlog-related production and Adj. EBITDA(2) 0.7 2.8 preparations for the ramp-up, was more than off
Slide 12: 2026 guidance and development levers for 2027 and beyond
2026 guidance and development levers for 2027 and beyond FY 2026 Guidance 2026 guidance well supported, further progress expected in 2027 ◼ Guidance is based on the assumption that the deliveries by key suppliers and the customer acceptance processes relevant to project execution and revenue recogni
Slide 13: Financial Calendar, Contact, Share information
Financial Calendar, Contact, Share information WKN A42FR1 30 September 2026 NuWays European-Midcap Conference, Paris 08 October 2026 mwb Research Defense & Security Online Investor Conference ISIN DE000A42FR12 23–25 November 2026 German Equity Forum (Deutsches Eigenkapitalforum), Frankfurt Stock Exc
Slide 14: Disclaimer
Disclaimer IMPORTANT NOTICE: This document has been prepared by SMAG Mobile Antenna Masts AG ("SMAG" or the "Company") and is published for general information purposes only. It is not intended to be complete and no representation or warranty, express or implied, is given as to the accuracy, complet
Slide 15: Mission-critical communication infrastructure enabling the modern battlefield
Connection Confirmed. MISSION-CRITICAL COMMUNICATION INFRASTRUCTURE ENABLING THE MODERN BATTLEFIELD FAST. STRONG. RELIABLE. FAST. STRONG. RELIABLE. www.smag.de 15
SMAG Mobile Antenna Masts — H1 2026 Earnings Presentation on 6ix