Earnings release
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NX Filtration reports strong H1 2026 with record order intake and order book, and major commercial milestones Hengelo, the Netherlands, 26 August 2026, 07:00 CET HENGELO, THE NETHERLANDS – NX Filtration N.V. ( Euronext Amsterdam: NXFIL), the global provider of breakthrough hollow fiber nanofiltration membrane technology for pure and affordable water with strong sustainability benefits, today reports its condensed interim consolidated financial statements for the six months ended 30 June 2026. Half year 2026 highlights o Total revenues1 of €7.8 million, representing 19% growth compared to the first half year of 2025. Record order intake (+61% y ear-on-year), and 5 times larger order book than a year ago o Gross margin of 59% , remaining strong and reflecting our leading technology position and disciplined commercial focus o Streamlined commercial approach with strong focus on high -value product -market- combinations, and a clearly defined path to breakthrough milestones in each of our regions o Major milestone in Europe with the largest order in NX Filtration's history for a municipal drinking water treatment plant in Sweden o Continued strong progress in our OEM funnel (totaling 193 OEMs) through new additions, conversion of commercial opportunities into projects and repeat orders , supporting future growth o Further progress on our path towards EBITDA break -even: maintained operating expenses at last year’s level, while simultaneously growing the business o Cash position of €18.4 million at the end of H1 2026. Being fully invested in our new factory, we are well positioned to execute our strategy and fund our growth ambitions Floris Jan Cuypers, CEO of NX Filtration, states: "The first half of 2026 marked an important step forward in the commercial development of NX Filtration. We achieved strong growth in order intake, resulting in a record order book that provides a solid foundation for future growth. A major milestone was s ecuring the largest order in our history for a municipal drinking water treatment plant in Sweden. This order demonstrates the effectiveness of our focused regional commercial strategy, where we concentrate our efforts 1 Total revenues (defined as Gross income in the Semi-Annual Report) includes revenues from sale of goods in the Clean Municipal Water and Sustainable Industrial Water business lines and other income
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on region -specific high -potential applications to accelerate market adoption and commercial success. As we continue to build our commercial momentum, we remain disciplined in aligning our cost base with the timing of our growth, maintain ing a clear and controlled path towards EBITDA break-even operations. Together, these achievements reinforce our confidence in delivering sustainable long-term growth." Progress against our objectives As communicated at our Capital Markets Day in April 2025, we focus our efforts on (1) growing revenues with on average 50% per year, (2) sustaining strong gross margin levels, and (3) realizing EBITDA break-even operations. 1. Growing revenues with on average 50% per year The first half of 2026 was characterized by strong commercial progress. We achieved significant growth in order intake (+61% year-on-year), resulting in a record order book (5 times larger order book than a year ago) and providing a solid foundation for future revenue growth. Revenues in H1 2026 grew 19% year-on-year, and LTM (last twelve months) revenues grew 31% year-on-year. A key commercial milestone was securing the largest order in NX Filtration's history for a municipal drinking water treatment plant in Sweden. This landmark project demonstrates the maturity of our technology and the effectiveness of our focused commercial approach, whereby we prioritize targeted opportunities in selected regions and applications to maximize customer impact and commercial success.
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During the first half of 2026, we further strengthened our strategic OEM relationships and continued to increase the quality of our commercial pipeline. Our commercial progress is increasingly reflected in the conversion of OEM relationships into commercial projects and repeat business, while our Hollow Fiber Nanofiltration (HFNF) funnel continued to expand to 193 OEM partners at 30 June 2026, compared to 175 at 30 June 2025 and 180 at year -end 2025. During the period, we advanced various OEMs towards commercial deployment. This included securing first HFNF orders with Applied Membranes in North America and a repeat project with SV Eau in France, demonstrating continued conversion of our commercial pipeline into revenue- generating opportunities. We remain focused on further commercializing our OEM base through new projects, repeat orders, module replacements and the expansion of existing customer applications. Alongside our HFNF activities, we continued to expand our Ultrafiltration (UF) and Microfiltration (MF) businesses. These product lines benefit from shorter sales cycles and attractive replacement markets, while also strengthening relationships with OEM pa rtners and creating additional cross-selling opportunities for our HFNF technology. Together, our portfolio positions NX Filtration as a full-spectrum hollow fiber membrane technology partner, enabling customers to address a broad range of water treatment challenges through a single technology partner. The global demand for sustainable water treatment solutions continues to grow, driven by increasing water scarcity, stricter environmental regulations, growing concern around micropollutants and PFAS, and the need for more energy-efficient treatment technologies. These long-term market drivers continue to support the attractive growth opportunities for NX Filtration. 2. Sustaining strong gross margin levels Gross margin remained strong at 59%, reflecting the continued value of our differentiated membrane technology and disciplined pricing approach. We continue to invest selectively in research and development to further strengthen our competitive product portfolio across HFNF, UF and MF. In H1 2026, NX Filtration capitalized €1.0 million of development costs which demonstrates the company’s continued efforts to invest in innovations for the future. NX Filtration focuses its commercial efforts on carefully selected product-market-combinations (PMCs), where our proprietary membrane technolog y provides a clear competitive advantage and creates the highest value for customers. By targeting (1) drinking water from surface water (e.g. our recently won chemical free drinking water project in Sweden, and various peat river water treatment projects in Indonesia), (2) wastewater reuse (e.g. indirect potable water reuse projects in Mexico), (3) industrial micropollutant removal (e.g. wastewater polishing for a
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large potato-based products manufacturer in France), and (4) beverage clarification (for various global beer and softdrinks producers) , we concentrate our resources on applications with the greatest commercial potential . This focused approach enables us to deepen customer relationships, accelerate OEM adoption and build a scalable, high-quality order pipeline. 3. Realizing EBITDA break-even operations Alongside our commercial progress, we continued to proactively align our cost base with the timing of realizing our growth ambitions. Following the completion of our factory, and associated operational improvements , we remain focused on increasing operational leverage while maintaining the capabilities required to support future growth. Normalized EBITDA improved to €6.7 million negative (H1 2025: €7.2 million negative), reflecting the combination of revenue growth, sustained gross margins and disciplined cost management. Capital expenditures remained at a significantly lower level following the completion of our new production facility (€1.2 million versus €4.4 million in H1 2025). Being fully invested in our new factory, we are well positioned to execute our strategy and fund our growth ambitions. Total FTE amounted to 156 at 30 June 2026 (31 December 2025: 158). We continue to proactively align our cost levels to the timing of realizing our growth, therewith controlling our path towards break-even operations. Priorities and outlook for the second half of 2026 Looking ahead, NX Filtration is well positioned to continue building on the commercial momentum achieved during the first half of 2026. Over recent years, we have established strong foundations for our next phase of growth, including our differentiated portfolio of nanofiltration, ultrafiltration and microfiltration products, expanded production capacity, strengthened ESG proposition, global commercial organization and an increasingly robust pipeline of high -quality opportunities. During the second half of the year, we will remain focused on further developing strategic OEM partnerships, converting our growing commercial pipeline into orders and expanding business with existing customers through repeat sales. At the same time, we continue to sharpen our commercial execution by concentrating our efforts on our carefully selected product-market combinations where our technologies deliver real value for customers and where we see the strongest opportunities for profitable growth. In parallel, we remain disciplined in aligning our cost base with the timing of realizing our growth ambitions, maintaining a clear and controlled path towards EBITDA break-even while preserving
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the capabilities needed to support future expansion. With a cash position of € 18.4 million at 30 June 2026, we are well positioned to execute our strategy and fund our growth ambitions. We reiterate our medium-term financial objectives of delivering average annual revenue growth of approximately 50%, sustaining strong gross margin levels and achieving EBITDA break-even as the business continues to scale. Supported by the strong commercial progress made during the first half of 2026, including record order intake and a record order book, we look to the second half of the year and beyond with great confidence. The half year 202 6 report is available on the Investor Relations section of the website www.nxfiltration.com. Analyst call / webcast NX Filtration will host an analyst call and webcast at 9:30 CEST on 26 August 2025 to comment on the H1 2026 results. Please see www.nxfiltration.com/investors for details to participate. Financial calendar FY 2026 results: 9 February 2027 About NX Filtration NX Filtration is a provider of membrane technology for producing pure and affordable water to improve quality of life. Its hollow fiber nanofiltration (HFNF) technology removes micropollutants (including pharmaceuticals, medicines, PFAS and insecticides), color and selective salts, but also bacteria, viruses and nanoplastics, from water whilst offering strong sustainability benefits. For further information on NX Filtration please visit www.nxfiltration.com For enquiries, please contact: NX Filtration Michiel Staatsen, COO and Investor Relations m.staatsen@nxfiltration.com +31 85 047 9900 Notes to the press release This is a public announcement by NX Filtration N.V. pursuant to section 17 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in NX Filtration N.V. The reported data in this press release have not been audited. Use of non-IFRS information
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In presenting and discussing the NX Filtration’s financial position, operating results and cash flows, management uses certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Non -IFRS financial measures do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other companies. Forward looking statements This press release may include forward -looking statements. All statements other than statements of historical facts may be forward -looking statements. These forward -looking statements may be identified by the use of forward-looking terminology, including the terms such as guidance, expected, step up, announced, continued, incremental, on track, accelerating, ongoing, innovation, drives, growth, optimizing, new, to develop, further, strengthening, implementing, well positioned, roll-out, expanding, improvements, promising, to offer, more, to be or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward -looking statements may and often do differ materially from actual results. Any forward -looking statements reflect NX Filtration’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to NX Filtration’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward looking statements reflect the current views of NX Filtration and assumptions based on information currently available to NX Filtration. NX Filtration’s risks have been extensively addressed in the 2025 annual report, published on its corporate website. Forward-looking statements speak only as of the date they are made, and NX Filtration does not assume any obligation to update such statements, except as required by law. NX Filtration 's revenue outlook estimates are management estimates resulting from NX Filtration's pursuit of its strategy. NX Filtration can provide no assurances that the estimated future revenues will be realized and the actual total revenues for 2026 could differ materially. The expected total revenues have also been determined based on assumptions and estimates that NX Filtration considered reasonable at the date these were made. These estimates and assumptions are inherently uncertain and reflect management's views which are also based on its historic success of being assigned projects, which may materially differ from the success rates for any future projects. These estimates and assumptions may change as a result of uncertainties related to the economic, financial or competitive environment and as a result of future business decisions of NX Filtration or its clients, such as cancellations or delays, as well as the occurrence of certain other events.