Aebi Schmidt Holding AG

aebi-schmidt.com

What Do They Do?

Builds specialty vehicles and equipment for public agencies, airports and businesses, including snow and street-maintenance equipment, truck bodies and vehicle chassis.

How Do They Make Money?

New Business is the larger line: customers buy equipment and attachments; vehicles built on customer-owned chassis bring in sales as they are built, while other vehicles do so when shipped or received. After Sales brings in money from parts, repairs and fixed service contracts.

revenue

Segment	Share	Revenue
New Business	85%
After Sales	15%

Who Are Their Customers?

Local authorities and airports, along with agricultural businesses and commercial fleets, buy its vehicles and equipment. It sells directly through its own sales and service organizations in some markets and through sales partners in others.

Do Revenues Turn Into Profits?

Yes. It kept 1 cent of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$5.2M.

Operating income, FY2025

5% of revenue

▲ +7% vs FY2024 ($68.5M, 6%)

Net income, FY2025

1% of revenue

▼ −68% vs FY2024 ($30.7M, 3%)

Free cash flow, FY2025

0% of revenue

▼ Now a loss vs FY2024 ($55.2M, 5%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +79%; vs $277.7M in Q2 FY2025
Net income: ▲ Now profitable; vs −$2.3M in Q2 FY2025

New Business share of revenue vs 85.7% in Q2 FY2025

May 21, 2026 Shareholders elected Barend Fruithof as board chair

Growing. Revenue grew 50% in 2 years, from $1B in FY2023 to $1.5B in FY2025, about 23% a year.

Revenue over time

New Business After Sales

$2B$1B$0

FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Boschung, Overaasen, Dammann, Fresia, Larue, Bucher Municipal, Kupper-Weissert, Rasco, Douglas Dynamics, Henderson, SnowEx, Western, Fayat, Hako, Reform, Lindner, Knapheide, Morgan Olsen, and Reading Trucks

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