VINCORION SE, a leading developer and manufacturer of power and mechatronic solutions for defense platforms and aviation systems, today publishes its results for the first half of 2026. In the first six months of the year, VINCORION continued its positive revenue trajectory, growing revenue by 42.4% from EUR 105.5 million in the prior year to EUR 150.2 million. A successful second quarter contributed EUR 81.2 million to this result (Q2 2025: EUR 56.2 million). Through a corresponding expansion of production capacity, VINCORION was able to serve strong market demand in the Vehicle Systems and Power Systems segments. Compared to the same period of the prior year, adjusted EBIT rose from EUR 21.4 million to EUR 28.4 million, an increase of 32.8%. The adjusted EBIT margin came to 18.9%. Following a negative free cash flow of EUR 7.1 million in the first quarter, VINCORION generated a positive free cash flow of EUR 1.1 million in the second quarter, reflecting an upward trend. Order entry again rose significantly to EUR 330.2 million in the first half of the year, well above the prior-year figure of EUR 72.7 million. The total order book amounted to EUR 1.2 billion, with a large share of planned 2026 revenue already covered by firm order backlog. 

”VINCORION has arrived on the capital markets following its successful IPO. Demand for our products, services and tailored solutions remains high. Modular power systems and mechatronic solutions are of particular importance here — their reliability under extreme conditions underpins operational capability in the field. Given the current overall environment, our visibility is above average, and we are therefore confident in our ability to continue our growth trajectory successfully,” said Kajetan von Mentzingen, CEO of VINCORION SE. 

“In the second quarter, we built on the positive momentum of the first quarter: revenue and earnings continued to rise. Particularly important for us is the fact that we returned to positive free cash flow in the second quarter. It remains our goal to continue our ramp-up successfully and to pursue our profitable growth trajectory, and we do so with great confidence,” said Dieter Holst, CFO of VINCORION SE. 

Vehicle Systems and Power Systems remain growth drivers 

Vehicle Systems 

The Vehicle Systems segment grew revenue by 72.0% in the first half of 2026, from EUR 42.4 million to EUR 72.6 million, making it the strongest-growing segment. The second quarter of 2026 contributed a consistently high revenue of EUR 37.2 million (Q2 2025: EUR 20.4 million). This positive development is primarily attributable to the significant rise in demand for stabilization products, in particular large-volume new orders for armored platforms. 

Power Systems 

In the Power Systems segment, revenue climbed by 41.1% from EUR 32.7 million to EUR 46.2 million. The segment generated revenue of EUR 25.5 million in the second quarter (Q2 2025: EUR 18.2 million), with both quarters above the previous year’s level. Systems for ground-based air defense were in particularly high demand. In addition, VINCORION will take on a central role in German industry as part of the EU-funded SENTINEL project, with the aim of developing modern tactical power systems. 

Aviation 

The Aviation segment generated revenue of EUR 33.2 million during the reporting period, slightly above the prior-year figure of EUR 32.7 million. Absent the foreign exchange headwinds arising from the depreciation of the US dollar, growth would have been more pronounced. 

2026 annual guidance: revenue expected at the upper end of the range 

The Management Board of VINCORION guided Group revenue of between EUR 280 million and EUR 320 million and an adjusted EBIT margin of between 18% and 19% for the 2026 financial year. With the half-year results now available, the company expects Group revenue at the upper end of the guided range. 

At 2:00 p.m. (CEST), VINCORION will host a webcast for analysts and investors, which will be streamed live on the company’s website. Please register here to follow the webcast.

Further information available at: https://ir.vincorion.com/en

Following its successful initial public offering in March 2026, VINCORION has now appointed Felix Zander, an expert with 25 years of experience in the capital markets, to lead its Investor Relations team. He has established investor relations departments on multiple occasions, including one that led to an IPO. With this appointment, VINCORION is filling a gap in its leadership team and is entering the next phase of its growth strategy and its communications with renewed strength. 

“With Felix Zander, we have been able to attract a dedicated professional to the capital markets. He has integrated seamlessly into our team and taken on numerous responsibilities with great commitment. We will benefit significantly from his expertise and experience in communicating VINCORION’s growth trajectory and shaping its public image in the capital markets,” says Chief Financial Officer Dieter Holst. 

Zander himself is enthusiastic about the challenge: “I am very much looking forward to this new role. It is an honor for me to be part of the dynamic team at VINCORION and to help shape and develop our capital markets communications. Especially following our successful IPO, there are many opportunities that we as a company can capitalize on. I would like to contribute to this with my experience.” 

About the New Head of Investor Relations 

After earning a degree in business administration, Felix Zander began his career at Lufthansa. Since 2001, he has held various executive positions as head of investor relations and communications at publicly traded companies, including VTG AG, Tom Tailor SE, and Nordex SE. During this time, he was responsible for complex capital market-related processes ranging from IPO and capital transactions to delisting. He specializes in crisis communication and communication during challenging market and corporate phases. 

Amid armored vehicles, drone systems, and command-and-control technologies, the technology company VINCORION will be exhibiting at Eurosatory in Paris alongside its co-exhibitor, ReactiveDynamics.

On behalf of the BAAINBw, VINCORION is developing the next generation of tactical, mobile power systems for the Bundeswehr. These systems are designed to support a wide range of operational scenarios that require a reliable power supply in the field: from combat and command posts to communications and surveillance systems, medical areas, and even charging unmanned drones. This is where ReactiveDynamics’ unmanned, modular ground vehicle comes into play. The prototype from the Bavarian startup will be exhibited for the first time at Eurosatory – alongside the PGM tactical^V tactical mobile power systems and the ESM hybrid^Venergy storage modules, which can be used to charge unmanned ground vehicles such as ReactiveDynamics’ RDX-1.

Everyone deserves a safe life: Energy solutions and autonomous vehicles

The PGM tactical^V and ESM hybrid^V mobile power systems are the heart of every field camp. The modular systems range from 20 kW for highly mobile operations to combinable 50- and 200-kW classes with a total output of over 1 MW. In ModularGrid networked mode, up to eight systems of different power classes can be operated in parallel – controlled by an intelligent, autonomous energy management system that minimizes the fuel consumption.

Remote-controlled and designed for swarm operations, ReactiveDynamics’ unmanned, modular ground vehicle also serves to protect troops in the field. After a charging time of between 1 and 5 hours, the 400-volt fully electric powertrain enables speeds of up to 80 km/h and a range of 150 kilometers. Equipped with tracks, it is particularly maneuverable and suitable for all types of terrain with gradients of up to 60 percent. Remote control and the capability for swarm operation enable troops to operate safely in the field.

Thinking Together: Mobile Power and Unmanned Systems

“Charging unmanned ground vehicles such as the RDX-1 impressively demonstrates the breadth of our mobile energy systems. Our PGM and ESM platforms are designed from the outset for exactly these kinds of future operational scenarios – whether command posts, medical facilities, or the supply of autonomous systems,” explains Klaas Klasen, Vice President of Strategy and Chief of Staff at VINCORION SE. “Eurosatory offers us the ideal opportunity to showcase this versatility together with innovative partners such as ReactiveDynamics.”

Maximilian Wunderlich, CFO and co-founder of ReactiveDynamics, adds: “A reliable, field-ready power supply is crucial for the operational deployment of autonomous ground vehicles. VINCORION’s mobile power systems demonstrate what such an infrastructure could look like. The fact that we are presenting our RDX1 prototype for the first time alongside this technology underscores the potential that lies in the integration of unmanned systems with high-performance power technology.”

In the long term, the technology company VINCORION aims to achieve optimized interaction between the load, battery technology, and the electric drive system. A potential collaboration could represent an important step toward achieving this goal.

Eurosatory is opening its doors once again in Paris. This year, the world’s largest land defense trade show is attracting more exhibitors and visitors than ever before. The reason is clear: Europe is rebuilding its defense capabilities, and this new era is no longer just a metaphor – it’s a full-scale production program.

Amid armored vehicles, drone systems, and command-and-control technologies, VINCORION has a presence at the Paris Expo. Headquartered in Wedel near Hamburg, this technology company plays an indispensable role in the defense industry.

VINCORION’s power supply systems ensure that platforms operate properly. Generators, electric drives, power electronics, mobile and hybrid energy systems, weapon stabilization – these are the core business areas of a company that, with approximately 900 full-time employees at three German locations and a branch in El Paso, Texas, generated revenue of around 240 million euros in 2025.

We Power Your Mission: Tactical Power Solutions for European Rearmament

At Eurosatory, VINCORION will showcase the full range of its systems expertise. The focus will be on modular and mobile power solutions that adapt to changing requirements – a key feature of modern defense technology, which must become increasingly flexible while remaining even more reliable.

“Our tactical, mobile power systems – the PGM tactical^V and ESM hybrid^V – are the heart of every field camp. These modular systems range from 20 kW for highly mobile operations to combinable 50- and 200-kW classes with a total output of over 1 MW. In ModularGrid networked operation, up to eight systems of different power classes can be operated in parallel – controlled by an intelligent, autonomous energy management system that minimizes the fuel consumption,” explains Klaas Klasen, Vice President Strategy & Chief of Staff at VINCORION. Modular to hybrid power supply solutions – whether for mobile use, for armored vehicles, or in stabilization systems – are at the heart of European rearmament programs. This is where VINCORION’s solutions come into play.

Three locations, a clear division of responsibilities

Behind this diverse product range lies a well-thought-out structure. The Wedel site near Hamburg is the heart of the company: this is where stabilization systems for armored vehicles are developed and manufactured, as well as products for civil aviation – including heating elements for passenger aircraft and rescue hoists for helicopters. The plant in Altenstadt, Bavaria, located on the grounds of a former military airfield, has evolved into a center of excellence for mobile power generators: This is where the generators that supply power to air defense systems such as Patriot and Iris-T are built. Finally, the Essen facility produces generators for armored vehicles. This division of labor enables VINCORION to supply both system integrators and the German Armed Forces and NATO partners directly.

• Inclusion in the SDAX of Frankfurt Stock Exchange on 22 June 2026

• Step follows successful commencement of trading on 20 March 2026 on the Frankfurt Stock Exchange and strengthens capital market presence

VINCORION SE (“VINCORION”), a leading developer and manufacturer of power and mechatronic solutions for defense platforms and advanced aviation systems, will be included in the SDAX of the Frankfurt Stock Exchange on 22 June 2026. The index inclusion marks a further significant step in VINCORION’s still young history as a listed company and follows the successful IPO in March 2026.

“We are pleased about our inclusion in the SDAX and grateful for the trust the capital market has placed in VINCORION,” says Kajetan von Mentzingen, CEO of VINCORION. “With our inclusion in the index, we continue our journey as a publicly traded company. We see this as an incentive and an obligation in equal measure – to create value for our customers, our investors, and our employees.”

“As an SDAX member, we will become relevant to an even broader range of institutional and passive investors,” adds Dieter Holst, CFO of VINCORION. “We have engaged closely with our shareholders and are pleased that this is reflected in growing liquidity and market capitalization. This is the foundation on which we will continue to build our capital market presence.”

The inclusion in the SDAX is based on the rulebook of Deutsche Börse. With this, VINCORION ranks among the 70 largest and most liquid listed companies below the MDAX in Germany.

VINCORION successfully commenced trading on the stock exchange on 20 March 2026 at an issue price of €17.00 per share. Cornerstone investors in the IPO include Fidelity International, Invesco Asset Management and T. Rowe Price Associates, who together subscribed for approximately €105 million.

Heli-One (Norway) AS and VINCORION Advanced Systems GmbH have signed a Memorandum of Understanding (MoU) to jointly support the market introduction, certification, integration, and lifecycle support of VINCORION’s next-generation Electrical Rescue Hoist ERH premier^V system across multiple helicopter types. 

VINCORION has been designing and constructing safe and reliable hoist systems for civil and military helicopter operations for more than 40 years. Its new ERH premier^V system is designed to lift 303kgs at a speed of 2 meters a second, at distances of 330 feet. It also features a wireless remote-control capability, providing flexibility of use and making it ideal for complex rescue missions and safety critical operations in challenging onshore and offshore environments. 

Working together, Heli-One and VINCORION aim to reduce technical and operational barriers for operators introducing the ERH premier^V system into their fleets. The companies will focus on defining Supplemental Type Certificate (STC) pathways, enabling integration of the ERH premier^V system across multiple helicopter platforms and offering high performance, enhanced safety, and long-term operational availability to civil and military operators globally. 

The ERH premier^V’s design is intended to support high operational readiness through extended maintenance intervals and reduced lifecycle burden – with Heli-One providing Maintenance, Repair and Overhaul support at its Norwegian facility. 

Heli-One is a leading independent helicopter MRO with certifications and expertise in a broad range of airframes and components from major helicopter and engine manufacturers, including Leonardo, Airbus, Sikorsky, Bell, Safran Helicopter Engines, Pratt & Whitney Canada and General Electric. 

‘This collaboration reflects Heli-One’s role as an integrator and lifecycle support provider for mission critical helicopter systems,’ said Jens Morten Mørland, Sales Director at Heli-One. ‘Together with VINCORION, we see strong market potential in offering operators a complete package — from certification and installation to long-term MRO solutions — enabling efficient introduction and sustained operation of the hoist system across international markets.’ 

‘For the market introduction of the ERH premier^V, our objective is to offer customers flexible integration options and high availability throughout the products lifecycle,’ said Simon Böttcher, Director Segment Aviation at VINCORION. ‘By combining VINCORION’s innovative hoist design and production competencies with Heli-One’s certification and MRO capabilities, we are creating a competitive European rescue hoist solution that addresses customer needs for performance, safety and reliable long-term support.’ 

‘From a product perspective, the ERH premier^V shows a high level of architectural maturity,’ said Ole Kyrre Brænd, Head of Design at Heli-One Norway AS. ‘Its safety features, modular design and performance characteristics give us a solid foundation for the integration across different platform configurations meeting the latest certification requirements’. 

VINCORION Power Systems GmbH is playing a key role in the European research project SENTINEL, which aims to fundamentally modernise the energy supply for military operations with the goal of reducing dependence on fossil fuels and increasing operational capability.

The project is funded by the European Defence Fund (EDF) and brings together 42 partners from 16 countries, including industry partners, research institutes and ministries of defence. At the first major meeting of all project partners in Maribor, Slovenia, at the beginning of February 2026, the strategic course was set for the next phases.

Why SENTINEL is important

Modern military operations are highly dependent on reliable energy supplies – whether for communication, reconnaissance or the operation of field camps. At the same time, mobile generators consume enormous amounts of fuel, which strains supply chains and makes operations vulnerable. SENTINEL is therefore developing intelligent, sustainable energy systems designed to make armed forces more independent, efficient and resilient.

VINCORION’s contribution

VINCORION brings over 70 years of engineering excellence in energy solutions and mechatronics for mission-critical applications to the project.

Specifically, the company is contributing two core components: a 50-kilowatt power generator module (PGM) and a 50-kilowatt-hour energy storage module (ESM)

These systems are designed to provide a mobile field camp with an autonomous power supply – even under extreme conditions such as heat, cold or dust.

They are currently being tested in real-world field trials. The first test campaign is being conducted in collaboration with the University of the Federal Armed Forces in Munich, followed by international field tests in different climate zones, including the Netherlands and Aruba.

First milestones in sight

VINCORION covers three key energy capabilities: advanced power generation (Advanced Genset), energy storage (Energy Storage Battery) and intelligent grid control for ± energy networks (Micro Grid Control). This grid control can optimally combine various sources such as batteries and generators, as well as photovoltaics, wind power and fuel cells.

In addition, VINCORION is taking on a coordinating role: the company is leading the integration of all demonstration prototypes in the project and has overall responsibility for the area of energy storage across all development phases.

VINCORION is currently working with its project partners to develop the technical specifications for the components to be used. This work is scheduled to be completed by the end of March 2026 – an important first milestone and foundation on the road to the planned demonstrations.

Voices from the project

“SENTINEL gives us the opportunity to test and further develop our technologies under real military conditions alongside leading European partners,” says Thomas Horner, project manager at VINCORION. “The responsibility we bear in this project demonstrates the trust that the consortium partners place in VINCORION’s expertise.”

The SENTINEL project is a continuation of previous EDF projects and demonstrates the convergence and performance of European technologies in the field of resilient military energy systems. “This gives us the opportunity to gain an even better understanding of the future tactical and logistical requirements of various European armed forces and to strengthen our European partner and supplier network,” says Daniel Zeitler, Director Markets & Strategy at VINCORION, emphasising the importance of the project.

Building on this strategic perspective, Mr Matej Gajzer, SENTINEL Coordinator and Managing Director of TECES, emphasised the responsibility and operational complexity of leading such an ambitious European initiative:

“As coordinator of the SENTINEL project, we fully recognise the strategic importance and complexity of leading a project of this scale, particularly given the strong involvement of European Ministries of Defence. Conducting demonstrations in real military environments makes the project both highly demanding and significantly impactful. Ensuring the active and continuous engagement of Ministries of Defence is one of our key priorities at the coordination level. Our objective is to align all stakeholders effectively, so that technological development, demonstrations and operational validation move forward in a fully synchronised and coherent manner.”

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