LPKF Laser & Electronics SE reported first-half 2026 revenue of EUR 36.5 million, down 38.3% from EUR 59.2 million in the prior year, as the solar segment faced investment delays amid the technology shift toward perovskites. The company confirmed its full-year forecast of EUR 105-120 million revenue and an adjusted EBIT margin between -3.0% and 4.5%, citing expected positive momentum in the solar and electronics segments in the second half.
Despite the weak results, LPKF emphasized progress in its LIDE (Laser Induced Deep Etching) technology for Advanced Packaging in semiconductors. A comprehensive reassessment of the addressable market now estimates the Total Addressable Market (TAM) for LPKF's process solutions could reach approximately EUR 1.7 billion by 2030, up from a previous estimate of EUR 500 million. Key drivers include AI-driven expansion of high-performance computing and increased wafer starts for high-performance chips.
In the second quarter, LPKF received an order for a LIDE system from a leading specialty glass manufacturer to qualify for future supply chains in Advanced Packaging. Additionally, Penn State University ordered a LIDE system to demonstrate glass substrates for industrial semiconductor applications. LPKF is expanding its portfolio beyond glass structuring to include singulation of glass-based packages and laser-based bonding of multilayer glass stacks, as well as integrating co-packaged optics on glass substrates.
The company's North Star transformation program, led by CFO Peter Mummler, achieved milestones including completion of the first wave of workforce reduction and refinement of future organizational structure. "North Star is a key lever for lowering our cost base, increasing our resilience, and at the same time securing our innovative strength," said Mummler.
Segment performance varied: the Development segment saw slightly lower revenue but significantly higher order intake, with strong demand from China, Europe, and the defense sector. Electronics segment revenue and order intake were higher despite a weak second quarter, driven by demand for PCB depaneling solutions. The Solar segment confirmed challenging expectations with revenue and orders well below prior year, while the Welding segment turned negative again despite progress in consumer electronics, smart robotics, and medical technology.
CEO Klaus Fiedler stated, "Overall, the figures for the first half of the year are not satisfactory... At the same time, we see that with LIDE, we are very well positioned in Advanced Packaging for AI applications." The company aims for a sustainable double-digit EBIT margin by 2028, with strong growth potential in semiconductors, SMT, and Rapid PCB Prototyping, as well as the transition to perovskite technology in solar.
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