Summa Defence Oyj said its first-half 2026 loss narrowed as revenue reached about EUR 60 million, driven by maritime and land technology segments. The company’s shares rose 9.84% in pre-market trading to $0.4465, up from the prior close of $0.4065, after the group reported an EBITDA loss of EUR 5.6 million compared with EUR 6.5 million in the second half of 2025.
The Finnish defense and industrial group, formed in June 2025, posted an operating loss of EUR 16.4 million in the six months to June 30, largely due to EUR 8.8 million in goodwill amortization under Finnish Accounting Standards. Petter Ruda, CFO, noted the accounting treatment differs from IFRS and does not impact cash flow in the same way.
Revenue for continuing operations totaled approximately EUR 60 million, with maritime technologies contributing EUR 44 million and land technologies about EUR 15 million. New technologies accounted for EUR 3.2 million. The company maintained its full-year 2026 revenue guidance between EUR 110 million and EUR 120 million.
Summa Defence’s order book stood at EUR 105 million as of June 30, with defense and security orders totaling EUR 61 million, or 58% of the total. Robert Blumberg, president and CEO, highlighted the group’s early-stage development while emphasizing the need to strengthen performance before pursuing growth initiatives.
The company secured EUR 8 million in bridge financing from Largus Holding AB in June, with the loan converted into a convertible bond on July 3. Summa Defence’s current ratio remained at 0.69, reflecting ongoing liquidity management amid its expansion phase.
Management changes in April 2026 included Blumberg and Ruda assuming their roles, following the group’s restructuring and listing in mid-2025. The company’s stock remains near the low end of its 52-week range of $0.375 to $5.
