Germany's hGears Q1 revenue falls 6.9% on weak e-bike demand

hGears AG

12/05/2026 06:41

Overview

Germany high-precision gear maker's Q1 revenue fell 6.9% yr/yr amid weak e-bike demand

Adjusted EBITDA for Q1 was slightly negative, reflecting negative mix and currency effects

Company confirmed its 2026 outlook despite challenging market conditions

Outlook

hGears expects 2026 revenue of EUR 80 mln to EUR 90 mln

Company forecasts 2026 adjusted EBITDA of EUR minus 3 mln to 0 mln

hGears sees 2026 free cash flow between EUR minus 5 mln and minus 2 mln

Result Drivers

E-BIKE WEAKNESS - Revenue in the e-bike segment declined sharply due to persistently weak bicycle production and prior-year pull-forward effects

NEGATIVE MIX AND CURRENCY EFFECTS - Profitability was hurt by negative product mix and currency effects, which structural and efficiency measures could not fully offset

E-MOBILITY GROWTH - [e]-Mobility segment posted year-over-year growth, partially offsetting declines in other segments

Company press release: ID:nEQ9XfZbva

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 23.4 mln
Q1 Adjusted EBITDA
-EUR 200,000
Q1 Adjusted EBITDA Margin
-0.7%


Analyst Coverage

The one available analyst rating on the shares is "hold"

The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy."

Wall Street's median 12-month price target for hGears AG is €1.80, about 95.7% above its May 11 closing price of €0.92

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)