Relying on technological and market advantages, Stadler, a leading rail transit company, saw a significant rebound in performance in the first half of 2026, with core indicators all rising and abundant orders laying a solid foundation for the company's medium - and long-term development, highlighting the global rail transit industry's recovery trend.

Significant increase in core performance

On August 26th, Stadler disclosed its 2026 semi annual report, with current revenue of 2 billion Swiss francs (approximately 2.48 billion US dollars), an increase of 40% compared to the same period in 2025, which was 1.4 billion Swiss francs (approximately 1.74 billion US dollars), mainly driven by increased order volume, capacity release, and project promotion.

The company's profit quality has been optimized synchronously, with a pre tax profit of 79.5 million Swiss francs (approximately 98.71 million US dollars) in the first half of the year, an increase of 43 million Swiss francs year-on-year, and a profit margin rising from 2.6% to 4.0%; Net profit of 31.2 million Swiss francs (approximately 38.74 million US dollars), slightly exceeding the level of the same period last year, and the profitability resilience continues to strengthen.

Record breaking order reserve

The company's orders grew rapidly in the first half of the year, with new orders totaling 2.7 billion Swiss francs (approximately 3.35 billion US dollars), significantly higher than the 1.7 billion Swiss francs (approximately 2.11 billion US dollars) in the same period last year. The reserve of orders in hand reached 33.3 billion Swiss francs (approximately 41.35 billion US dollars), setting a new historical high and effectively locking in future performance.

The service and parts sector has grown rapidly, with an order volume of 515.1 million Swiss francs (approximately 640 million US dollars) in the first half of the year, a year-on-year increase of 95%. The total service business orders amounted to 9.7 billion Swiss francs (approximately 12 billion US dollars), a slight increase of 3% from the end of 2025, becoming the core growth driver.

The business situation is steadily improving

With the repair of the supply chain, the company's cash flow has significantly improved. In the first half of the year, the free cash flow was negative at 54.4 million Swiss francs (approximately negative at 67.54 million US dollars), showing a significant improvement compared to the same period last year; Net working capital is negative at 324.2 million Swiss francs (approximately negative at 400 million US dollars), and customer prepayments can cover production costs for orders. The funding structure is stable.The follow-up impact of the Valencia flood disaster still exists, and the company has stabilized its supply chain and implemented alternative suppliers. The related costs and delivery pressure are expected to continue until 2027. Faced with economic pressure in Germany, the Berlin factory's efficiency improvement plan has been implemented and proven effective, resulting in a steady increase in production efficiency.Keywords: rail transit equipment, significant increase in performance, new high in orders

The company maintains its annual and medium-term business goals unchanged, with an expected revenue of over 5 billion Swiss francs (approximately 6.2 billion US dollars) in 2026, an EBIT profit margin of over 5%, and an annual investment of approximately 250 million Swiss francs (approximately 310 million US dollars). Our medium - to long-term goal is to increase our profit margin to 6% to 8%, while maintaining a stable revenue scale of over 5 billion Swiss francs and leading position in the industry.Editor/Huang jiali