Large repeat order secured

Since SCHMID last provided an update on order intake (16 June), the company has received a €37m single order from a Chinese customer. This is a follow-on order for a facility for which SCHMID supplied equipment in 2025. To help fund working capital for the growing backlog, the company has arranged a new $20m convertible bond, which adds to the c $10m already received from the standby equity facility since it was established in May. Management is reviewing FY26 guidance and expects to provide a further update on 14 July, at which point we will review our forecasts.