Mersen targets 4% to 6% sales growth in 2026 after raising guidance in July
Key Facts
On July 30, Mersen raised its 2026 organic sales growth forecast to a range of 4% to 6%, compared with a previous forecast of 2% to 6%, following its first-half results. The update also covered EBITDA margin before non-recurring items, now expected to be between 16.0% and 16.5% of sales, versus 15.5% to 16.5% previously. The company also raised its forecast for operating margin before non-recurring items to 9.0%–9.5% of sales, from 8.0%–9.0%. It announced the revisions in its July 30 update, following its first-half results and second-quarter sales. The company had scheduled the release of third-quarter sales for October 28 after market close.
Mersen's consolidated sales in the first half of 2026 were about €611.5 million, up 3.9% organically year on year, the company said. Organic growth excludes the effects of changes in the group's scope and foreign exchange rates, based on the comparison method used by the company. In the second quarter alone, sales reached €315.1 million, with organic growth of 4.6% compared with the same period a year earlier. Second-quarter growth was faster than the first-half rate, while third-quarter figures had not been published in the available materials. The guidance update was therefore based on first-half data, not sales results for July to September.
Mersen said momentum in data centers, power electronics, silicon-based semiconductors, aerospace and rail supported its activity in the first half. In the electrical power segment, the company attributed continued strong growth in the second quarter to the rapid expansion of electrification uses and data centers. These markets provide context for the sales forecast revision, while the company did not attribute the increase to a record third-quarter sales figure. It also said the solar market remained at a low level and transport trends were positive. The company added that market conditions in chemicals were less favorable than it had expected.
The July revision included a reduction in the expected 2026 capital expenditure range to €80–90 million, compared with a previous forecast of €90–100 million. This came alongside increases in the sales growth and two profit margin ranges, reflecting simultaneous revisions to estimates for annual performance and spending. In historical comparisons, the company recorded sales of €1,186 million in 2025, down from €1,244 million in 2024. Its margin before non-recurring items was 16.0% in 2025, compared with 16.5% in 2024. These figures place the 2026 profit margin forecast in the context of the declines in sales and margin recorded in the previous year.
Mersen had reported 2024 sales of €1,244 million, with organic growth of 2.6% for the year, while fourth-quarter sales fell 0.6% organically year on year. The company said rail, aerospace and process industries remained resilient at the time, despite delays in some markets. In its earlier presentation, it pointed to a slowdown in solar and delayed demand for silicon carbide semiconductors. This background provides a comparison for the current guidance cycle, which combines momentum in specific sectors with weakness in other markets. The company's financial calendar sets the release date for its 2026 full-year results as March 18, 2027.