LPKF Laser: A 388% Rally Built on Unbaked Orders and Deepening Losses
19.06.2026 - 18:56:10 | boerse-global.de
The gap between market expectation and financial reality at LPKF Laser & Electronics has rarely been wider. The stock surged 14% on Friday to €29.30, leaving it just a whisker shy of its 52-week high of €30.00. Since January, the shares have rocketed roughly 388% — a gain that began when they bottomed at €5.34 in December 2025. But the first-quarter numbers tell a far less cheerful story.
Revenue slumped to €17.1m from €25.3m a year earlier, weighed down by a weak solar business. Reported EBIT swung to a loss of €6.9m, worsening from a €3.9m deficit in the prior-year period. On an adjusted basis, the loss stood at €5.7m. The company’s North Star restructuring programme, running as planned, will add further drag: management has flagged restructuring costs equivalent to 3–4% of sales this year.
The trigger for Friday’s jump was a virtual investor forum hosted by the shareholder protection association SdK, where CEO Klaus Fiedler spoke directly with retail investors. No fresh guidance or order announcements accompanied the event, but the mere mention of advanced packaging — a segment in which LPKF’s LIDE laser technology is being tested by multiple semiconductor clients — was enough to reignite speculation. The company has been in concrete talks about first production tools for glass-based packages and co-packaged optics, though no commercial orders have yet been booked.
Should investors sell immediately? Or is it worth buying LPKF Laser?
Order intake, however, provides a flicker of hope. In the first quarter it rose to €24.1m from €20.5m in the year-earlier period, pushing the book-to-bill ratio to 1.4. The Development and Electronics segments were the main drivers. Yet LPKF cautions that geopolitical tensions and growing competitive pressure from China could disrupt the conversion of those orders into revenue.
The stock’s technical picture underscores the volatility. At Friday’s close, it traded about 44% above its 50-day moving average of €20.38, and the annualised 30-day volatility hit 148%. Earlier in the week, when the shares were at €25.70, that volatility measure was 143.82% — already extreme. The rally appears to price in a breakthrough in advanced packaging that has yet to materialise.
The company’s full-year 2026 outlook targets revenue of €105m–€120m and an adjusted EBIT margin ranging from –3.0% to +4.5%. Crucially, those projections explicitly exclude any potential large orders from the advanced packaging space — the very catalyst the market is betting on. The next hard checkpoint is 23 July, when LPKF publishes its half-year report. Investors will then see whether the improving order book is translating into genuine revenue growth, or whether the restructuring costs and competitive headwinds will keep eating into the bottom line.
Ad
LPKF Laser Stock: New Analysis - 19 June
Fresh LPKF Laser information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
