The following Notes to the Development of the Segments take into account the classification of the Water Management business as a discontinued operation4.
4 Any exceptions are identified accordingly.
In the first nine months of 2026, a significant portion of Group revenue was generated by foreign Group companies. During the reporting period, this totaled 86.5% (Q1–Q3 2025: 86.4%).
EMEA
External revenue in the EMEA region totaled EUR 330.2 million in the first nine months of 2026, which was 1.7% below the prior-year level (Q1–Q3 2025: EUR 336.0 million). Adjusted for currency effects (-0.5%), external revenue declined by 1.2%.
External revenue in the EMEA region rose in the third quarter of 2026 by 2.1% to EUR 103.1 million (Q3 2025: EUR 100.9 million). Adjusted for currency effects (-0.2%), revenue grew by 2.4%.
Industry Applications revenue for the first nine months of 2026 totaled EUR 98.2 million, which was 1.7% higher than the prior-year level (Q1–Q3 2025: EUR 96.6 million), while Mobility & New Energy remained 3.1% below the prior-year figure at EUR 231.9 million (Q1–Q3 2025: EUR 239.4 million). This was due in particular to ongoing weak demand in the European automotive industry.
The EMEA region’s share of Group revenue in the first nine months of 2026 was approximately 52.5% (Q1–Q3 2025: 53.2%).
Adjusted EBIT in the EMEA region improved significantly in the first nine months of 2026 to EUR 9.3 million (Q1–Q3 2025: EUR -4.7 million). The adjusted EBIT margin rose accordingly to 2.6% (Q1–Q3 2025: -1.3%). The increase in profitability was made possible in particular by the measures implemented to improve the cost base as part of the NewNORMA transformation. In addition, the comparison base – which had been negatively impacted in the relevant prior-year period by temporary additional expenses related to ERP implementation at the Maintal site – had a positive effect.
In the third quarter of 2026, adjusted EBIT in the EMEA region totaled EUR 3.0 million (Q3 2025: EUR -0.9 million). The adjusted EBIT margin was 2.7% (Q3 2025: -0.9%).
Investments in the EMEA region in the first nine months of 2026 totaled EUR 9.2 million (Q1–Q3 2025: EUR 11.8 million). Investments were focused on the locations in Serbia, Germany, the United Kingdom, and the Czech Republic.
Americas
External revenue in the Americas region in the first nine months of 2026 totaled EUR 211.5 million, representing a 3.5% increase over the prior-year level (Q1–Q3 2025: EUR 204.4 million). Adjusted for negative currency effects totaling 3.4%, particularly in connection with the US dollar, external revenue increased by 6.9%.
In the third quarter of 2026, external revenue in the Americas region rose by 14.8% to EUR 76.1 million (Q3 2025: EUR 66.3 million). Adjusted for positive currency effects totaling 1.8%, revenue growth amounted to 13.0%.
Industry Applications revenue for the first nine months of 2026 totaled EUR 81.6 million, up 9.7% from the prior-year level (Q1–Q3 2025: EUR 74.4 million), while Mobility & New Energy remained nearly at the prior-year level at EUR 129.9 million (Q1–Q3 2025: EUR 130.0 million). The positive performance in Industry Applications was driven in particular by higher sales volumes.
The Americas region’s share of Group revenue for the first nine months of 2026 was 33.7% (Q1–Q3 2025: 32.4%).
Adjusted EBIT in the Americas region improved significantly during the first nine months of 2026 to EUR 13.8 million (Q1–Q3 2025: EUR 7.3 million). The adjusted EBIT margin rose accordingly to 6.4% (Q1–Q3 2025: 3.5%). This improvement was driven in particular by revenue growth as well as lower personnel expenses and other operating expenses.
Adjusted EBIT in the Americas region in the third quarter of 2026 totaled EUR 6.5 million (Q3 2025: EUR 3.0 million). The adjusted EBIT margin was 8.4% (Q3 2025: 4.5%).
Investments in the Americas region in the first nine months of 2026 totaled EUR 8.2 million (Q1–Q3 2025: EUR 6.4 million). Investments were focused on the locations in the US.
Asia-Pacific
External revenue in the Asia-Pacific region totaled EUR 86.6 million in the first nine months of 2026, which was 5.2% below the prior-year level (Q1–Q3 2025: EUR 91.4 million). Adjusted for currency effects (-0.4%), external revenue declined by 4.8%.
In the third quarter of 2026, external revenue in the Asia-Pacific region totaled EUR 28.7 million (Q3 2025: EUR 30.4 million). This represents a decrease of 5.6% compared to the relevant quarter of the previous year. Adjusted for positive currency effects totaling 3.4%, revenue declined by 9.0%.
Industry Applications revenue for the first nine months of 2026 totaled EUR 27.2 million, up 13.0% from the prior-year level (Q1–Q3 2025: EUR 24.0 million), while Mobility & New Energy remained 11.7% below the prior-year figure at EUR 59.5 million (Q1–Q3 2025: EUR 67.3 million). This was due, in particular, to continued weak demand in the Chinese automotive market.
The Asia-Pacific region’s share of Group revenue for the first nine months of 2026 was 13.8% (Q1–Q3 2025: 14.5%).
Adjusted EBIT in the Asia-Pacific region in the first nine months of 2026 totaled EUR 8.4 million (Q1–Q3 2025: EUR 8.0 million). The adjusted EBIT margin improved to 9.1% (Q1–Q3 2025: 8.3%). The decline in sales weighed on earnings performance. This was partially offset by lower personnel expenses and other operating expenses.
Adjusted EBIT in the Asia-Pacific region in the third quarter of 2026 totaled EUR 2.8 million (Q3 2025: EUR 3.3 million). The adjusted EBIT margin was 9.1% (Q3 2025: 10.3%).
Investments in the Asia-Pacific region in the first nine months of 2026 totaled EUR 2.6 million (Q1–Q3 2025: EUR 2.9 million). Investments were focused on the locations in China and India.
Legend
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.