Brockhaus Technologies AG: Revenue in Q1 2026 for the continuing and discontinued operations totaled €47.9 million, with adjusted EBITDA of €7.6 million

Brockhaus Technologies AG: Revenue in Q1 2026 for the continuing and discontinued operations totaled €47.9 million, with adjusted EBITDA of €7.6 million

• Group revenue totaled €47.9 million, with adjusted EBITDA of €7.6 million
• IHSE, with newly aligned management and a completed transformation, benefited from growing government and defense business; revenue amounted to €5.6 million and adjusted EBITDA to €189 thousand
• Bikeleasing, classified as a discontinued operation, benefited from improved resale results and the dealer commission introduced in August 2025; revenue amounted to €42.3 million and adjusted EBITDA to €8.7 million
• The closing of the sale of the Bikeleasing Group remains subject to the required owner control procedure by DECATHLON PULSE; completion is still expected in H1 2026
• The forecast for fiscal year 2026, which relates solely to the Group’s continuing operations (IHSE and Holding), remains unchanged: revenue of €30 million to €32 million and adjusted EBITDA of €0 million to €2 million

Frankfurt am Main, May 14, 2026. Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42, “Brockhaus Technologies” or the “Company”) generated total revenue of €47.9 million in the first quarter of fiscal year 2026, corresponding to organic growth of +13.1% compared to the prior-year period (Q1 2025: €42.4 million). Adjusted EBITDA amounted to €7.6 million in the reporting period, corresponding to an adjusted EBITDA margin of 15.8% (Q1 2025: €2.4 million; margin of 5.6%).

For comparability purposes, the revenue and adjusted EBITDA figures presented here for the first quarter of fiscal year 2026 are reported on a consolidated basis and include both the Group’s continuing and discontinued operations. The continuing operations comprise the Security Technologies segment (IHSE) and the Central Functions (Holding). Due to the disposal on December 23, 2025, the revenue as well as other income and expenses of the former HR Benefit & Mobility Platform segment (Bikeleasing) are presented separately as discontinued operations in Brockhaus Technologies’ consolidated statement of profit or loss for the first quarter of fiscal year 2026. Accordingly, they are no longer included in the revenue and earnings figures of the consolidated statement of profit or loss in the Q1 2026 quarterly statement.

“The closing of the sale of the Bikeleasing stake remains subject to the required owner control procedure by DECATHLON PULSE and is expected to take place in the second quarter of fiscal year 2026. In close coordination with the Supervisory Board, the Management Board is currently reviewing a combination of various measures to return a substantial portion of the expected net proceeds from this sale to shareholders without undue delay following completion and subject to applicable legal requirements. IHSE has realigned its management team and completed the transformation initiated in 2025. This marks an important strategic step for the further development of the Group. We are pleased to welcome Dr. Thomas Niessen as IHSE’s new CEO as of May 2026 and wish him every success,” commented founder and CEO Marco Brockhaus.

IHSE (Security Technologies segment) with completed transformation and growing government and defense business

In the Security Technologies segment (IHSE), revenue in the reporting period amounted to €5.6 million, down by -13.5% compared to the prior-year period (Q1 2025: €6.5 million). This was primarily due to a generally cautious market environment, which compared to Q1 2025, resulted in significantly reduced investment activity, particularly in the Americas region, driven by the prolonged government shutdown, U.S. tariff policy and the war in the Middle East. Accordingly, revenue in the Americas region, at €617 thousand, was significantly below the prior-year level (Q1 2025: €1.8 million). In EMEA, revenue of €4.3 million was slightly above the prior-year period (Q1 2025: €4.2 million). The same applies to the APAC region, where revenue amounted to €656 thousand (Q1 2025: €482 thousand).

Adjusted EBITDA amounted to €189 thousand in the reporting period, corresponding to an adjusted EBITDA margin of 3.4% (Q1 2025: €314 thousand; margin of 4.8%). Despite significantly lower revenue, EBITDA was only slightly below the prior-year period. This was mainly attributable to substantially lower fixed costs in personnel expenses and other operating expenses. In this regard, management had already initiated comprehensive measures to reduce fixed costs in Q3 2025.

With the completion of its management team through the appointment of Dr. Thomas Niessen, the finalized company transformation and a strong pipeline of product innovations, IHSE is well positioned for 2026 and beyond. IHSE’s high-performance and reliable KVM technology enables highly secure and virtually latency-free data transmission in mission-critical application areas. By meeting stringent security standards and obtaining the relevant certifications, IHSE has benefited since last year from a strongly growing Government & Defense business (approx. 43% of revenue in 2025). This is a direct result of the strategic decision made three years ago to invest specifically in certifications and business development activities in the defense sector.

Bikeleasing (former HR Benefit & Mobility Platform segment) benefited from improved resale results as well as the dealer commission introduced in August 2025

In the discontinued operation, the former HR Benefit & Mobility Platform segment (Bikeleasing), revenue increased by +18.0% to €42.3 million in Q1 2026 (Q1 2025: €35.9 million). This was primarily driven by improved results from the resale business of previously leased bicycles and e-bikes through the subsidiary Bike2Future, which was specifically established for this purpose, as well as the dealer commission introduced in August 2025. These factors also had a significantly positive impact on the gross profit margin, which amounted to 57.8% in Q1 2026 (Q1 2025: 51.1%). The number of new bikes brokered via the digital Bikeleasing platform in the first quarter of 2026 totaled 21.5 thousand, largely in line with the prior-year period (Q1 2025: 21.6 thousand units). The number of connected corporate customers increased to slightly above 83,000, representing more than 4 million employees.

Adjusted EBITDA of the segment amounted to €8.7 million in the reporting period, corresponding to an adjusted EBITDA margin of 20.5% (Q1 2025: €3.4 million or 9.4%). The main drivers of the higher EBITDA margin were increased revenue and the significantly higher gross profit margin. Personnel expenses and other operating expenses, by contrast, increased to a much lesser extent.

Forecast for the Group’s continuing operations (IHSE and Holding) for fiscal year 2026 remains unchanged

The forecast for the Group’s continuing operations (IHSE and Holding) for fiscal year 2026 remains unchanged: revenue of €30 million to €32 million and adjusted EBITDA of €0 million to €2 million. Due to the signed sale agreement regarding the stake in Bikeleasing, this business is no longer included in the forecast. For the continuing operations, preliminary revenue in Q1 2026 amounted to €5.6 million (Q1 2025: €6.5 million) and adjusted EBITDA to €-1.1 million (Q1 2025: €-1.0 million).

The earnings call for the first quarter of 2026 will be held in English on Monday, May 18, 2026, at 4:00 p.m. (CEST). Interested participants may register for the call via the following link: https://webcast.meetyoo.de/reg/pMV8jemukBRe

About Brockhaus Technologies
Based in Frankfurt am Main, Brockhaus Technologies AG (BKHT, ISIN: DE000A2GSU42) is a technology group that acquires high-margin, high-growth technology and innovations champions with B2B business models in the German Mittelstand. With a unique platform approach and a long-term horizon, Brockhaus Technologies actively and strategically supports its subsidiaries in achieving profitable long-term growth, both across industries and internationally. At the same time, Brockhaus Technologies offers a gateway into these non-listed German technology champions, which are otherwise inaccessible to capital market investors. For more information, please visit: https://www.brockhaus-technologies.com/en/

Contact:
Brockhaus Technologies – Florian Peter
Phone: +49 69 20 43 40 90
Fax: +49 69 20 43 40 971
Email: ir@brockhaus-technologies.com