electrovac AG, a specialist in hermetic glass-to-metal packages for safety- and system-critical electronics, held its first Annual General Meeting as a listed company, where the Executive Board reaffirmed its recently raised earnings forecast for fiscal year 2026/2027. The virtual meeting, held on October 28, 2026, underscored the company's progress on the growth initiatives it announced at the time of its IPO.
The reaffirmation matters because it comes just months after the IPO and demonstrates that electrovac is delivering on its promises. For the first half of fiscal 2026/2027 (1 April to 30 September 2026), preliminary figures show revenue rose 10.4% to EUR 61.5 million, while EBIT jumped 26.1% to EUR 8.2 million. The EBIT margin improved to 13.3% from 11.7%, even after absorbing EUR 2.3 million in one-off IPO costs. Growth was driven primarily by the Industrials and Aerospace & Defense business areas.
CEO Dieter Thumfart outlined progress on all four growth initiatives. In Thailand, electrovac aims to double production capacity; floor space has been doubled, the lease is signed, and machinery for a third production line is on order, with production slated for September 2027. In China, the company is establishing local final assembly for airbag igniters under a 'local for local' approach, with three locations in the Changzhou area shortlisted and a decision expected by the end of December 2026. China already accounted for around 28% of Group revenue in fiscal 2025/2026. In the USA, preparations for a dedicated presence targeting aerospace and defense will begin in November 2026. In Aerospace & Defense, capacity expansions in Austria and Germany have been completed, including a two-shift system in Austria and the start of EN 9100 certification and Nadcap accreditation in Germany.
These initiatives are significant because they position electrovac to capture demand in high-growth sectors and diversify its geographic footprint. The raised forecast now anticipates EBIT of EUR 13 million to EUR 14 million, or EUR 15 million to EUR 16 million adjusted for IPO costs, on revenue of EUR 120 million to EUR 130 million. Thumfart noted that adjusted EBIT is expected to exceed the level of the record year 2025/2026, citing positive development in Aerospace & Defense and Industrials as well as operating performance above expectations.
Shareholders approved all resolutions by a large majority, with 83.6% of share capital represented. The full voting results are available on the company's AGM page. More information about electrovac can be found at www.electrovac.com.
