LUMIBIRD: Photonics confirms strong growth with a 15.3% increase in the first half of 2026
PHOTONICS CONFIRMS STRONG GROWTH WITH A 15.3% INCREASE IN THE FIRST HALF OF 2026
Consolidated revenue rose by 7.4% (9.7% on a like-for-like basis)
The LUMIBIRD Group (FR0000038242 – LBIRD) reported consolidated revenue of €114.7 million for the first half of 2026, up 7.4% (+9.7% at constant scope and exchange rates).
The Photonics division confirmed its strong growth momentum with revenue of €59.1 million, up 15.3% (17.4% on a constant scope and exchange rate basis). This performance confirms the ramp-up of the Photonics platform across its three main growth drivers: Defense & Space, Photonic Medtech, and Industrial & Scientific. The major programs secured in recent years are now contributing fully to revenue, while maintaining the order backlog at a historically high level, providing excellent visibility for the coming semesters. The shift in the business mix, with a growing share from the Defense, Space, and Medtech markets, is gradually improving the division's economic profile.
The Medical division posted revenue of €55.6 million, stable on a reported basis (+0.1%) and up +2.6% on a constant scope and exchange rate basis. After a first quarter disrupted by primarily cyclical factors, business regained positive momentum in the second quarter.
Consolidated revenue (unaudited)
| Revenue (€m) | 2026 | 2025 | Reported change | On a like-for-like basis |
| 1st quarter | 49.7 | 49.4 | +0.7% | +4.1% |
| 2nd quarter | 65.0 | 57.4 | +13.1% | +14.6% |
| 1st half-year | 114.7 | 106.8 | +7.4% | +9.7% |
| of which | ||||
| Photonics | 59.1 | 51.3 | +15.3% | +17.4% |
| Medical | 55.6 | 55.6 | +0.1% | +2.6% |
By division
Photonics
The Photonics division posted an excellent first half-year with revenue of €59.1 million, up 15.3%.
The Defense & Space segment grew by 16.5% to €29.4 million and accounted for nearly half of the division's revenue. This performance reflects the gradual transition into the execution phase of major programs won in recent years.
The Photonics Medtech segment posted the division's strongest growth, rising 58.3% to €10.5 million, driven by new programs in cardiovascular applications and confirming the division's ability to develop new growth drivers beyond its traditional markets.
The Industrial & Scientific segment grew by 6.0% to €14.1 million, demonstrating the resilience of the portfolio and the strong momentum in flat-panel display repair applications, quantum technologies, and semiconductor diagnostics.
The Environment, Topography, and Security segments accounted for €5.2 million and showed mixed performance, with a decline of -16.2%. The decline in the Environment market was partially offset by a return to growth in Topography. Sales initiatives launched for lidar systems are expected to support a gradual improvement in this segment during the second half of the year.
Medical
The Medical division generated revenue of €55.6 million. After a first quarter impacted by logistical and geopolitical disruptions, the business returned to growth in the second quarter, driven by strong performance in direct sales in the United States and Japan, as well as the initial effects of new product launches, particularly in the dry eye segment.
Revenue breakdown for the first half of the year was 22.4% for diagnostic equipment and 77.6% for treatment solutions.
By geographical area
The breakdown of revenues by geographical area (unaudited) is as follows:
| H1 revenue (€m) | Photonics | Chge. / 2025 | Medical | Chge. / 2025 |
| EMEA | 33.3 | +7.6% | 17.0 | (1.7) % |
| Americas | 14.0 | +49.0% | 15.3 | +5.4% |
| Asia-Pacific | 7.2 | +28.8% | 16.8 | +2 .9% |
| Rest of the world | 4.6 | (13.7)% | 6.4 | (12.4)% |
| Total | 59.1 | +15.3% | 55.6 | +0.1% |
EMEA
In EMEA, the Photonics division posted growth of +7.6%, driven primarily by the continued ramp-up of the Defense & Space business. This growth confirms the Group's strong position in its traditional European markets.
The Medical division posted a slight decline (-1.7%), primarily due to logistical and geopolitical disruptions in the first quarter, the effects of which gradually subsided during the second quarter.
Americas
The Americas region recorded the strongest growth within the Photonics division, with a 49.0% increase. This performance reflects the gradual ramp-up of the Photonics Medtech business.
The Medical division grew by +5.4%, supported by strong sales momentum at the U.S. subsidiary and a return to positive growth in the second quarter.
Asia-Pacific
The Photonics division posted growth of +28.8%, driven primarily by the Industrial & Scientific businesses, which continue to benefit from sustained demand across several technology segments.
The Medical division grew by +2.9%, thanks in particular to the strong performance of the Japanese subsidiary following a more mixed first quarter.
Rest of the world
In the Rest of the World, the Photonics division declined by -13.7% and the Medical division by -12.4%. This trend primarily reflects an unfavorable base effect in the first quarter and does not call into question the sales momentum observed in the Group's main markets.
Outlook
All of these factors allow the Group to approach the second half of the year with confidence. The ramp-up of major defense programs, the maintenance of a high order backlog, the gradual strengthening of the business mix, and the return to positive momentum in the Medical division underpin the Group's confidence in continuing its path of profitable growth.
Statement by Marc Le Flohic
“The first-half business results confirm that Lumibird is entering a new phase of its development. The investments made over the past several years in our technologies, industrial capabilities, and business development are consolidating the growth of our Photonics division. This growth is of high quality: it is driven by the Defense & Space markets, the strong ramp-up in Photonic Medtech, and the sound diversification of our Industrial & Scientific activities. The major programs we have secured in recent years are now driving our revenue while maintaining a high order backlog, ensuring excellent visibility. At the same time, the Medical division returned to a growth trajectory in the second quarter. These factors reinforce our confidence in our continued development and in the gradual improvement of our operational performance.”
Next publication: H1 results, on 22 September 2026, after close of trading
LUMIBIRD is one of the world's leading laser specialists. With over 50 years' experience and expertise in solid-state, diode and fibre laser technologies, the Group designs, manufactures and distributes high-performance laser solutions via two divisions: Photonics and Medical. The Photonics Division designs and produces components, lasers and systems for the defence and space, environment, topography and security, industrial and scientific, and medtech markets. The Medical branch designs and produces medical diagnostic and treatment systems for ophthalmology.
The result of the October 2017 merger between the Keopsys and Quantel Groups, LUMIBIRD, with more than 1,000 employees and €225.6m in sales in 2025, is present in Europe, America and Asia.
LUMIBIRD shares are listed in compartment B of Euronext Paris. FR0000038242 - LBIRD www.lumibird.com
LUMIBIRD has been a member of Euronext Tech Leaders since 2022.
Contacts
| LUMIBIRD Marc Le Flohic Chairman and CEO Tel. +33(0) 1 69 29 17 00 info@lumibird.com | LUMIBIRD Andrew Moysey Chief Financial Officer Tel. +33(0) 1 69 29 17 00 info@lumibird.com | ACTUS finance & communication Mathieu Calleux Relations investisseurs Tel. +33(0) 1 53 65 37 91 lumibird@actus.fr |