LPKF Gets Off to a Solid Start in 2026

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LPKF Laser & Electronics SE has made a solid start to the 2026 financial year despite a macroeconomic environment that remains challenging. While geopolitical tensions and increasing competitive pressure from China are weighing on business, order intake is developing positively—particularly in the Development and Electronics segments.  

In the first quarter of 2026, LPKF generated revenue of EUR 17.1 million (Q1 2025: EUR 25.3 million). The main reason for the decline is the weak Solar business. EBIT was EUR -6.9 million (previous year: EUR -3.9 million), and adjusted EBIT was EUR -5.7 million (previous year: EUR -3.4 million). In contrast, order intake rose to EUR 24.1 million (Q1 2025: EUR 20.5 million), and the book-to-bill ratio reached 1.4.  

The North Star transformation program already led to a noticeable reduction in costs in the first quarter. This had a positive impact on EBIT. As a result, the effects of the year-over-year decline in revenue were significantly mitigated.

In the Advanced Semicon Packaging business, LPKF is making good progress and is in concrete discussions with several customers regarding orders for initial production systems. LIDE technology (Laser Induced Deep Etching) is currently in use by numerous semiconductor customers in test and R&D environments; the expected follow-up orders in this area are expected to reinforce LIDE technology’s role as the key to high-precision glass processing and mark the transition to series production.

LPKF is gradually expanding its offering beyond the glass structuring process—for example, to include solutions for the singulation of glass-based packages and the laser-based bonding of multilayer glass stacks—and is working on the integration of co-packaged optics on glass substrates. In doing so, the company is positioning itself as a key partner in the emerging market for advanced packaging with glass.  

“We are experiencing a phase in which the classic model of the German engineering manufacturer exporting its products around the world is reaching its limits,” says Klaus Fiedler, CEO of LPKF SE. “LPKF is therefore consistently evolving from a machine supplier into a provider of functional solutions with disruptive technologies, clearly focused on growth markets. In doing so, we are not guided by technology for technology’s sake, but by concrete market potential and measurable benefits for our customers.”

The Development segment benefited in the first quarter from delayed investment decisions following the government shutdown in the U.S. as well as from sustained strong demand from research, development, and the defense sector. In the Electronics segment, order intake increased significantly; systems for the precise laser cutting of printed circuit boards were particularly in demand, as customers are increasingly turning to efficient, clean laser solutions.  

In the Solar segment, LPKF expects 2026 to be a difficult year but sees attractive long-term opportunities due to the technological shift towards perovskite cells. The Welding segment is undergoing restructuring: production of welding and solar systems is being consolidated at the Suhl site in Germany, structures are being streamlined, and profitability is expected to increase sustainably. The North Star efficiency and restructuring program is progressing as planned and is intended to lower the cost base, increase resilience, and simultaneously secure the company’s innovative strength.  

LPKF is consistently working to implement the measures outlined in the North Star program. In the first quarter, the company made progress as planned: Production of welding systems in Fürth, Germany, was shut down and is now taking place at the Suhl site. By consolidating production, additional synergies have been realized, and the first welding systems assembled in Suhl are being shipped. To further reduce costs, LPKF is working on additional structural improvements within the Group, with a focus on improving the efficiency of processes. 

Outlook

Given the current high level of uncertainty in the economic and geopolitical environment, including risks of war and fragile supply chains, and assuming a significantly lower sales volume in the Solar segment, LPKF expects consolidated revenue of EUR 105 to 120 million and an adjusted EBIT margin between -3.0% and 4.5% for the 2026 financial year.

Potential high-volume orders from the Advanced Semicon Packaging are not included in this forecast, as the timing of the market-anticipated ramp-up is determined not by the LIDE process provided by LPKF, but by the qualification of downstream process steps.

The Management Board is confident about the LPKF Group’s medium-term outlook. While the segments are currently performing differently, the goal remains clear: The Management Board aims to achieve a sustainable double-digit EBIT margin for the Group by 2028. 

Particularly in the semiconductor market, the company sees a very strong strategic positioning and significant growth potential with LIDE and the expansion of its product portfolio. The SMT (Surface Mount Technology) segment and Rapid PCB Prototyping also offer very solid growth prospects. 

Despite the current weakness in orders in the Solar business, LPKF expects the transition to perovskite technology to be a promising growth area with significant opportunities for LPKF. Following the strategic realignment in plastic welding, the Management Board also expects profitable long-term growth in this segment. 

To position the LPKF Group as resilient and competitive in the long term, significant structural adjustments are currently being implemented, as no significant growth momentum is expected in the short term given the current phase of economic uncertainty.