Kontron stock faces delivery delays as 2026 outlook holds

Kontron reported weaker revenue and operating cash flow for the first nine months of 2026 on Thursday, November 5, while keeping its full-year outlook unchanged. The company's investor-relations release said memory-chip shortages delayed shipments and increased inventories.

The update was published by Kontron. Revenue from January through September reached 1,102.9 million euros, compared with 1,123.6 million euros on an adjusted basis in the prior-year period. Operating cash flow fell to 4.3 million euros from 49.7 million euros.

Chip shortages delay deliveries

Products and chips worth 68.6 million euros had not been delivered by the end of September, with most shipments expected in the fourth quarter. Despite the delivery constraints, the order backlog rose to 2,751.9 million euros at September 30 from 2,495.3 million euros at the end of 2025. A book-to-bill ratio of 1.23 indicated that incoming orders continued to exceed recognized revenue.

Restructuring changes earnings profile

Adjusted EBITDA increased to 151.0 million euros from 140.1 million euros. Reported EBITDA declined to 125.9 million euros from 193.6 million euros, reflecting 25.1 million euros in extraordinary restructuring costs and a prior-year benefit from the deconsolidation of the COM business.

Net income attributable to shareholders fell to 52.7 million euros from 110.8 million euros. Kontron completed its GreenTec restructuring in the third quarter and expects annual savings of more than 30 million euros, with the full effect from 2027.

Outlook remains unchanged

Management continues to expect 2026 revenue of around 1.6 billion euros and EBITDA of around 200 million euros, or 225 million euros before restructuring one-offs. Settlement talks with Volkswagen could lead to an impairment of intangible assets of up to 25 million euros, without affecting EBITDA or cash flow.

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