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 on October 28, 2026. The virtual meeting provided shareholders with an update on the company's record performance in fiscal year 2025/2026 and its progress on growth initiatives announced at the time of its IPO.
According to preliminary figures, revenue in the first half of fiscal year 2026/2027 (April 1 to September 30, 2026) rose by 10.4% to EUR 61.5 million, up from EUR 55.7 million in the prior-year period. EBIT increased by 26.1% to EUR 8.2 million, and the EBIT margin improved to 13.3% from 11.7%, even after including one-off IPO costs of EUR 2.3 million. Growth was driven primarily by the Industrials and Aerospace & Defense business areas.
CEO Dieter Thumfart outlined progress on the company's four growth initiatives. In Thailand, electrovac aims to double production capacity; floor space has been doubled, the lease agreement signed, and machinery for a third production line ordered or already being built, with production scheduled to start in September 2027. In China, the company is setting up local final assembly for airbag igniters under a "local for local" approach, with a site decision expected by the end of December 2026 from three shortlisted locations in the Changzhou area. China already accounted for around 28% of Group revenue in fiscal year 2025/2026. In the USA, preparations for a own presence to access the aerospace and defense market will begin in November 2026. In the Aerospace & Defense segment, electrovac expanded capacity in Austria and Germany, introduced a two-shift system in Austria, and initiated EN 9100 certification and Nadcap accreditation processes in Germany, completing the first milestone of its 2026/2027 roadmap.
The Executive Board reaffirmed its recently raised earnings forecast for fiscal year 2026/2027, expecting EBIT of EUR 13 million to EUR 14 million and EBIT adjusted for IPO costs of EUR 15 million to EUR 16 million. The revenue forecast of EUR 120 million to EUR 130 million remains unchanged. The upward revision reflects positive development in the Aerospace & Defense and Industrials business areas and operating performance above expectations.
"Six months after the IPO, we are delivering on what we announced: we have made good progress with our growth initiatives," said Thumfart. "At the same time, the first half of the year shows that growth in Aerospace & Defense and Industrials is increasingly reflected in our earnings. Adjusted for IPO costs, we expect EBIT to exceed the level of our record year."
At the Annual General Meeting, 83.6% of the share capital was represented. Shareholders approved all resolutions proposed by the Executive Board and Supervisory Board by a large majority, including the discharge of board members, the election of BDO AG Wirtschaftsprüfungsgesellschaft as auditor for fiscal year 2026/2027, and the remuneration systems for the Executive and Supervisory Boards. The full voting results are available on the electrovac AG website.
electrovac, headquartered in Salzweg, Germany, employs around 550 people at four production sites in Germany, Austria and Thailand and supplies more than 250 customers worldwide. Its customized solutions range from niche products in small batches to high-volume series products used in electronics, sensors and actuators, including safety systems such as airbags and seatbelt pretensioners, and special solutions for aerospace and defense applications. For more information, visit www.electrovac.com.
