Aebi Schmidt Targets CHF 3B Revenue, 13% Margins as Shyft Synergies Build

Aebi Schmidt targets CHF 3 billion in revenue and a 13% EBITDA margin by 2030, up from approximately CHF 1.9 billion in pro forma 2025 revenue and a 9% EBITDA margin. Growth is expected to be split roughly evenly between organic expansion and acquisitions. The Shyft acquisition is outperforming expectations, with order intake up 26% and profitability up 22% year over year on a post-acquisition comparison. Synergies are projected to reach a $37 million annualized run rate by year-end, with another $5 million expected by the end of next year. Future M&A will focus on smaller bolt-ons and U.S. expansion, including upfit facilities, dealers and specialized product opportunities. The company plans to reduce leverage to about 2.0 times before pursuing additional deals.

Aebi Schmidt outlined plans to expand revenue, margins and its specialty-vehicle footprint through a combination of organic growth, operational improvements and acquisitions during the Midwest IDEAS Investor Conference. Chief Financial Officer Marco Portmann said the company, which listed on Nasdaq in July 2025 following its all-equity acquisition of the former Shyft Group, generated approximately CHF 1.9 billion in pro forma revenue in 2025. Aebi Schmidt’s midpoint guidance calls for CHF 2.05 billion in revenue this year, with a longer-term target of CHF 3 billion by 2030. The company expects roughly half of its growth through 2030 to come from organic expansion and half from further mergers and acquisitions. Portmann said Aebi Schmidt has delivered a 20% revenue compound annual growth rate over the past decade through that combination.

Aebi Schmidt serves five principal customer segments: municipal infrastructure, airport and chassis equipment, goods transport, commercial trucks and agriculture. Municipal products, including street sweepers, snowplows, spreaders and pavement-marking equipment, account for about 40% of revenue, Portmann said. The airport and chassis segment is the company’s highest-margin business. Aebi Schmidt supplies runway-maintenance equipment, including runway de-icing solutions, to airports and holds a leading position in international airports, according to management. The company has also introduced smaller, more versatile products aimed at regional and general-aviation airports to broaden its addressable market. Goods transport, including walk-in delivery vans acquired through Shyft, is expected to be a key incremental revenue driver in 2026 and 2027. Portmann said demand in the walk-in van market weakened after a delivery-demand peak during the pandemic period but began recovering in late 2025. He said the company is now fully booked into 2027 for walk-in vans. The business represents about 20% of total revenue. The commercial-truck segment includes service bodies used by plumbers, gardeners, pool-maintenance providers and other trades. The Shyft transaction enabled Aebi Schmidt to produce service bodies internally rather than purchase them from a competitor, which Portmann said supports margin improvement. The company’s agriculture business, centered on specialized equipment for steep and alpine terrain, is its smallest segment. It holds a leading position in alpine markets including Switzerland and Austria, management said.

Director of Investor Relations Simone Grancini said the Shyft acquisition has produced stronger-than-anticipated results. Comparing the 12 months before the acquisition with the 12 months afterward, he said order intake rose 26% and profitability increased 22%.