Aebi Schmidt Group raised its 2030 revenue target to CHF 3 billion from CHF 2.05 billion previously, as the Swiss industrial equipment maker outlined a growth strategy balancing organic expansion with mergers and acquisitions. Speaking at the 17th Annual Midwest IDEAS Conference on August 27, 2026, executives detailed targets including a 13% or higher EBITDA margin by 2030, up from about 9% in 2025.
The company, listed on Nasdaq under the ticker AEBI, reported LTM revenue of $1.95 billion and EBITDA of $145 million as of the latest data. For 2026, Aebi Schmidt guided to CHF 2.05 billion in revenue and just over 9% EBITDA margin, with organic growth projected at 6%. Long-term organic capital expenditure is expected to average 1.5% of sales, while working capital targets were lowered to 20% of net sales from 23% in 2025.
The Shyft Group acquisition, completed in July 2025, has contributed to performance improvements over the past 12 months, with order intake up 26%, adjusted EBITDA rising 22%, and net income improving by CHF 18 million. Management now expects annual synergies from the deal to reach CHF 40 million, with a run rate of CHF 37 million by the end of 2026 and CHF 42 million by the end of 2027, exceeding the original CHF 25 million to CHF 30 million target.
Margin expansion is expected to come from multiple levers. Production footprint changes in the U.S. are projected to add more than 250 basis points to margins, while operational cost optimization is seen contributing about 1% margin uplift by 2027. After-sales revenue, which carries gross margins 20% to 25% above new equipment sales, is targeted to rise from roughly 10% of U.S. revenue currently to 15% by 2030, with long-term potential of 18% to 20%.
Aebi Schmidt operates across five customer segments, with municipal infrastructure maintenance accounting for about 40% of revenue, airport operations and chassis representing the highest-margin segment, and goods transport and walk-in vans contributing around 20%. The company’s geographic footprint covers about 95% of the U.S. population post-Shyft, and management described tariffs as neutral to slightly beneficial due to competitive barriers created for European rivals despite supply chain pressures.
Capital allocation priorities remain focused on organic growth and M&A, with CFO Marco Portmann stating that share buybacks would "actually rather be a failure to find the right targets to acquire." The company’s leverage target is set at 2.0x by year-end 2026, within a comfortable range of 1.5x to 2.5x, with an upper limit of 3.5x for a major transaction.
