First Sensor AG — Interim / Quarterly Report 2026

Feb 20, 2026

First Sensor
is now part of
TE connectivity

Interim Report on Q1 2026

FIRST SENSOR AG, BERLIN

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First Sensor

TE

is now part of

TE

TO OUR SHAREHOLDERS

Dear Shareholders and Business Partners,

As expected, the start of the new 2026 financial year was again subdued. Some larger customers had brought forward orders to the last weeks of the previous financial year, resulting in First Sensor's sales in the first quarter amounting to only €22.9 million, which is 20.1 percent less than in the corresponding period of the previous year. Demand from a number of major industrial customers remains at a lower level, and is therefore in line with the general and industry-specific economic situation.

The investment volume in the first three months amounted to only €0.5 million. Due to advance payments on larger projects that will only be completed in the calendar year 2026, there was also a pull-forward effect in the last financial year. We plan to further expand the volume in the coming quarters.

A significant change is represented by the sale of the last subsidiary, First Sensor Lewicki GmbH, which was completed effective December 31, 2025. First Sensor is now focusing more strongly on its role as a European wafer manufacturer within the TE Connectivity Group, and we expect to see growth in this area of business.

First Sensor AG remains, as the parent company of the former group, rooted in Berlin and continues to be publicly listed. However, the reporting will be streamlined: instead of a consolidated group report according to international accounting standards (IAS/IFRS), in the future we will only report on First Sensor AG as a single entity according to German Commercial Code (HGB). Preparations have already begun, and you will be able to see the difference in the half-year report.

The guidance for the current financial year therefore primarily refers to the single entity, with the subsidiary First Sensor Lewicki GmbH only included in the figures for the first quarter. We expect sales for the 2026 financial year to be between €85 and €95 million, with the investment volume reaching a scale between €2.5 and €3.5 million. An end to the cautious business development seen in the first months of the financial year is currently not in sight, and we therefore do not expect a real recovery before summer.

We are delighted by your interest in the ongoing development of our company and by your constructive support. As usual, we will keep you informed about the next steps in our journey.

The Management Board

Robin Maly

Dirk Schäfer

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First Sensor

TE

is now part of

SALES AND INVESTMENTS AT A GLANCE

In the first quarter of the 2026 financial year (Oct. 1, 2025– Dec. 31, 2025), First Sensor achieved sales of €22.9 million compared to €28.6 million in the same period of the previous year. This corresponds to a significant decline in sales of 20.1 percent and is behind the plan for the entire year.

The cash-relevant investments reached so far €0.5 million in the first quarter, compared to €1.2 million in the same period of the previous year. As planned, this value will increase in the coming quarters.

Overall, first-quarter sales have not yet reached the level that would be necessary to achieve the guidance for the year as a whole of €85 to €95 million. The investing activities were still slightly below the planned value. This situation should balance out over the coming quarters.

THE ORDER SITUATION IS IMPROVING

| € thousand | Dec. 31, 2024
Q1 FY2025 | Mar. 31, 2025
Q2 FY2025 | Jun. 30, 2025
Q3 FY2025 | Sept. 30, 2025
Q4 FY2025 | Dec. 31, 2025
Q1 FY2026 | Δ absolute
(Q1/Q1) |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 28,607 | 23,669 | 19,787 | 33,506 | 22,866 | -5,741 |
| Product sales | 27,197 | 22,252 | 18,433 | 32,148 | 21,259 | -5,938 |
| Sales from services | 1,410 | 1,417 | 1,354 | 1,358 | 1,608 | 198 |
| Incoming orders | 18,485 | 24,991 | 26,117 | 22,876 | 26,336 | 7,851 |
| Orders on hand | 50,145 | 52,884 | 60,568 | 51,296 | 56,373 | 6,228 |
| Book-to-bill | 0.68 | 1.12 | 1.42 | 0.71 | 1.24 | - |

The incoming orders increased in the first quarter of the financial year compared to the previous year's quarter by €7.9 million to €18.5 million (previous year: €18.5 million). The order backlog amounted to €56.4 million (previous year: €50.1 million). This results in a rolling book-to-bill ratio of 1.24. Since full integration into TE Connectivity's sales structures, the order situation is somehow less indicative of the future course of business, especially since these figures still include the subsidiary First Sensor Lewicki GmbH.

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First Sensor

TE

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CONSOLIDATED INCOME STATEMENT (IFRS)

€ thousand	Oct. 1 – Dec. 31,	Oct. 1 – Dec. 31,	Δ absolute
	2024	2025
Revenue	28,607	22,866	-5,741
Other operating income	504	28,332	27,828
Changes in inventories of finished goods and work in progress	4,007	90	-3,917
Cost of materials/cost of purchased services	-10,018	-9,965	53
Staff costs	-10,833	-9,684	1,149
Other operating expenses	-2,555	-2,492	63
EBITDA	9,712	29,148	19,436
Write-offs	-1,689	-1,555	134
Operating income (EBIT)	8,023	27,593	19,570
Financial result	27	105	78
Earnings before taxes	8,051	27,698	19,647
Income taxes	-81	-80	1
PROFIT OR LOSS FOR THE PERIOD	7,970	27,618	19,648

In the first quarter of the 2026 financial year (Oct. 1, 2025– Dec. 31, 2025), First Sensor achieved sales of €22.9 million compared to €28.6 million in the same period of the previous year. This corresponds to a decline in revenue of 20.1 percent and is therefore below expectations for the course of business in the overall financial year. Sales of between €85 million and €95 million are forecast for the year as a whole.

Other operating income increased to €28.3 million (previous year: €0.5 million). The reason for this is the profit from deconsolidation following the disposal of First Sensor Lewicki GmbH, which is included here at €24.8 million (previous year: €0 million).

Changes in inventories of finished goods and work in progress decreased due to a significantly reduced inventory build-up and fell to €0.1 million (previous year: €4.0 million).

The absolute cost of materials remained stable at €10.0 million (previous year: €10.0 million). Due to the decreased revenue, the material cost ratio consequently rose to 43.6 percent (previous year: 35,0 percent).

Staff costs decreased to €9.7 million (previous year: €10.8 million) due to staff reductions and short-time work; the personnel expense ratio was 42.4 percent (previous year: 37.9 percent).

Other operating expenses changed only slightly, decreasing by 2.5 percent to €2.5 million (previous year: €2.6 million).

The operating result (EBITDA) improved to €29.1 million (previous year: €9.7 million) due to the disposal of the stake in First Sensor Lewicki GmbH, which corresponds to an EBITDA margin of 127.5 percent (previous year: 33.9 percent). Adjusted for the effect of deconsolidation, EBITDA amounted to €4.3 million (previous year: €9.7 million), which corresponds to an adjusted EBITDA margin of 19.0 percent (previous year: 33.9 percent).

The write-offs decreased slightly to €1.6 million (previous year: €1.7 million). This results in an operating income (EBIT) of €27.6 million (previous year: €8.0 million). The EBIT margin reached 120.7 percent (previous year: 28.0 percent).

For the first three months of the financial year, €27.6 million are reported as profit for the period (previous year: €8.0 million). This corresponds to a result of €2.67 per outstanding share (previous year: €0.77).

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First Sensor

TE

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IFRS)

ASSETS

€ thousand	Sept. 30, 2025	Dec. 31, 2025	Δ absolute
Non-current assets	49,256	47,713	-1,543
Inventories	34,737	34,224	-513
Trade receivables	19,446	41,477	22,031
Other current assets	1,427	2,199	772
Financial assets	27,032	34,058	7,026
Cash and cash equivalents	203	290	87
Current assets held for sale	8,740	0	-8,740
Total ASSETS	140,841	159,960	19,119

Since the cut-off date of Sept. 30, 2025, total equity and liabilities has increased by €19.1 million to €160.0 million (previous year: €140.8 million). Significant changes on the asset side concerned trade receivables, which increased by €22.0 million to €41.5 million (previous year: €19.4 million). This increase results from the sale of the former subsidiary First Sensor Lewicki GmbH to First Sensor Mobility GmbH, a company within the TE Group, on December 31, 2025.

Financial assets predominantly include receivables from shareholders from cash pooling. They have increased by €7.0 million since the cut-off date and amount to €34.1 million (previous year: €27.0 million). One reason for this change is the receivable from the profit transfer agreement with the former subsidiary First Sensor Lewicki GmbH.

EQUITY AND LIABILITIES

€ thousand	Sept. 30, 2025	Dec. 31, 2025	Δ absolute
Equity	114,795	117,935	3,140
Pension provisions	195	194	-1
Non-current financial liabilities	2,900	2,736	-164
Other non-current liabilities	1,988	1,956	-32
Provisions for taxes	211	288	77
Current financial liabilities	2,709	2,864	155
Trade payables	7,346	5,474	-1,872
Other current liabilities	9,018	28,514	19,496
Current liabilities held for sale	1,679	0	-1,679
Total EQUITY AND LIABILITIES	140,841	159,960	19,119

Due to the balance sheet extension since the reporting date of September 30, 2025, the equity ratio decreased during the first quarter from 81.5 percent to 73.7 percent. Equity increased by €3.1 million as a result of the profit for the period. Other significant changes on the liabilities side concerned other short-term liabilities, which also increased sharply due to the result for the period and its transfer to TE Connectivity Sensors Germany Holding AG, Bensheim.

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First Sensor

TE

is now part of

WORKING CAPITAL

€ thousand	Sept. 30, 2025	Dec. 31, 2025	Δ absolute
Working Capital	46,837	70,227	23,390
Capital employed	93,249	115,096	21,847

Working capital increased significantly during the first quarter of 2026 by 49.9 percent and amounted to €70.2 million (Sept. 30, 2025:€46.8 million). In line with this development, the capital employed has increased from €21.8 million to €115.1 million since the balance sheet date (Sept. 30, 2025:€93.2 million). The main reason for the increase in both key figures was the sale of First Sensor Lewicki GmbH.

CASHFLOW

€ thousand	Oct. 1 – Dec. 31,	Oct. 1 – Dec. 31,
	2024	2025
Operating cash flow	3,744	5,520
Net cash used in investing activities	-3,207	-5,487
Net cash from financing activities	-636	-602
Free cash flow	537	33

After the first quarter of the 2026 financial year the cash flow from operating activities is higher, at €5.5 million, than in the same period of the previous year (previous year: €3.7 million), mainly due to changes in working capital. Cash flow from investing activities amounted to €-5.5 million (previous year: €-3.2 million) and reflects the increase in receivables from companies within the TE Group. As in the previous year, cash flow from financing activities was mainly characterized by repayments and amounted to €-0.6 million (previous year: €-0.6 million). The free cash flow is also slightly positive after three months at €0.03 million (previous year: €0.5 million).

KEY FIGURES FOR FIRST SENSOR SHARES

	Sept. 30, 2025	Dec. 31, 2025	Δ absolute
Share capital (€)	51,692,480	51,692,480	0
Number of shares (weighted, diluted)	10,338,496	10,338,496	0
Number of shares (basic)	10,338,496	10,338,496	0

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First Sensor

TE

is now part of

FINANCIAL CALENDAR

April 1, 2026	2026 Annual General Meeting
May 13, 2026	Publication of interim report (half-year report) as of March 31, 2026
August 14, 2026	Publication of Q3 quarterly statement 2026

First Sensor AG

Peter-Behrens-Straße 15

12459 Berlin

Germany

Phone +49 (0) 30 639923 – 760

Fax +49 (0) 30 639923 – 719

E-mail ir@first-sensor.com

Website www.first-sensor.com/en/investor-relations

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