PFISTERER Holding SE/€PFSE

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About PFISTERER Holding SE

PFISTERER Holding SE, headquartered in Winterbach, Germany, specializes in developing, producing, and distributing products for connecting and insulating electrical conductors within power grids. The company's operations are organized into five segments: Components, Medium Voltage Cable Accessories, Overhead Lines, High Voltage Cable Accessories, and High Voltage Direct Current Cable Accessories, offering a comprehensive range of solutions from low to extra-high voltage applications. Founded in 1921, PFISTERER has expanded its global presence to 17 locations across 15 countries, with production facilities in Germany, the Czech Republic, and the United States. The company's expertise in silicone and metal processing, along with its in-house material formulation capabilities, enables it to produce high-performance insulation crucial for the longevity and reliability of high-voltage components under extreme environmental conditions. In 2024, PFISTERER reported revenues of EUR 383.1 million, reflecting a 14.7% increase from the previous year, and an adjusted EBITDA of EUR 64.6 million, representing a 23.6% year-on-year growth.
Ticker
€PFSE
Primary listing
XETRA
Employees
1,510

PFSE Metrics

BasicAdvanced
€1.3B
18.85
€3.73
-
€0.85
1.21%

Bulls say / Bears say

H1 2026 revenue surged 20.2% to €256.7 million, with adjusted EBITDA up 32.6% to €52.4 million and net income up 75.9% to €38.3 million, driving the EBITDA margin to 20.4% and demonstrating strong operational leverage (PFISTERER)
Robust order backlog of €340.3 million extending into 2027, coupled with major contract awards for Nordlicht I & II offshore wind farms by Vattenfall and turnkey cable systems for Siemens Energy’s DolWin4 and BorWin4 projects, underpins revenue visibility and market leadership in high-voltage solutions (PFISTERER, Offshore Wind)
Strategic investment in HVDC capabilities with a €30 million high-voltage laboratory in Winterbach set to become operational in H1 2027 and first series-production HVDC cable accessories by end-2026, positioning PFISTERER to capitalize on the expanding HVDC market for renewables transmission (boersengefluester)
Order intake normalized to €263.0 million in H1 2026 from €290.2 million a year earlier, reflecting a potential slowdown in new project awards compared to the prior-year peak (PFISTERER)
Reliance on high volumes of preassembled cable components with a significant third-party material content results in lower markups and constrains gross margin expansion, as noted by management in the H1 2026 earnings call (Investing.com)
The €30 million investment in a high-voltage laboratory, while strategic for HVDC expansion, may strain free cash flows in the near term without corresponding revenue until series-production begins at the end of 2026 (boersengefluester)
Data summarised monthly by Lightyear AI. Last updated on 6 Sept 2026.

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