Endurance Europe orders are 88% EV and hybrid applications

Endurance Europe’s €199 million of orders won from FY23 through H1FY27 includes €174 million, or 88%, for electric-vehicle (EV) and hybrid applications, measured at expected peak per-annum programme value. Endurance Europe separately says internal-combustion-engine (ICE) end-use accounts for about 30% of current regional revenue and is expected to reduce to 25% in FY28.

What share of Endurance Europe orders is EV and hybrid?

EV and hybrid applications account for 88% of Endurance Europe’s €199 million cumulative order wins from FY23 to H1FY27. Endurance Europe assigns €87 million, or 44%, to EV applications and €87 million, or 44%, to hybrid applications. The two categories total €174 million, while the remaining €25 million is represented by ICE/Common and Non Auto categories in the order-mix chart.

This 88% measure describes orders won rather than regional sales already invoiced. Endurance Europe states that all values on its European order pages are expected peak per-annum values. The €199 million therefore represents the annual programme value expected at peak production for awards made over the five reported periods, rather than cumulative revenue earned between FY23 and H1FY27.

The presentation’s annual chart groups orders into Non Auto, ICE/Common, Hybrid and EV. Its labelled shares were 16%, 32% and 49% in FY23; 26% and 66% in FY24; 37% and 58% in FY25; 89% in FY26; and 28% and 72% in H1FY27. Endurance Europe does not provide a full annual euro split across all four categories, so the disclosed €87 million EV and €87 million hybrid totals are the direct basis for the five-period 88% calculation.

How has Endurance Europe annual order intake changed?

Endurance Europe reported €84 million of order wins in FY23, followed by €31 million in FY24, €40 million in FY25, €16 million in FY26 and €28 million in H1FY27. FY23 was the largest full-year intake in the displayed series. H1FY27 order wins were €12 million above FY26, but the half-year period is not directly comparable with the four full financial years.

Order wins declined by €53 million between FY23 and FY24, then increased by €9 million in FY25 before declining by €24 million in FY26. The H1FY27 figure of €28 million was €12 million higher than the FY26 figure of €16 million. Endurance Europe says the order data exclude Stöferle business won before FY26 and Fondaspress business.

Endurance Europe separately lists €167 million of new orders and €46 million of replacement orders. Those two disclosed category values total €213 million, compared with the €199 million five-period total in the same European order-win material. The presentation does not provide a reconciliation between the €213 million category sum and the €199 million cumulative total.

What does the order mix mean for ICE exposure?

Endurance Europe’s awarded-programme mix is more electrified than its current revenue base. EV and hybrid applications represent €174 million of the €199 million order-win total, while ICE end-use currently represents about 30% of Endurance Europe revenue. The first figure is a peak annual value of orders won from FY23 to H1FY27, whereas the second is a current revenue exposure measure.

Management expects ICE end-use to reduce to 25% of Endurance Europe revenue in FY28 from the current level of about 30%. That indicates a reduction of about 5 percentage points in the ICE revenue share. Endurance Europe does not disclose an FY28 regional revenue forecast, an absolute ICE revenue amount, or a bridge showing how individual EV and hybrid awards will affect the FY28 mix.

The remaining 12% of the €199 million order-win total should not be treated as solely ICE business. Endurance Europe’s chart legend includes both ICE/Common and Non Auto alongside Hybrid and EV, but does not disclose cumulative euro values for ICE/Common or Non Auto. This distinction matters because the current 30% revenue statement refers to ICE end-use, while the chart uses the broader ICE/Common label.

When are Endurance Europe orders scheduled to ramp up?

Endurance Europe’s disclosed ramp-up schedule rises from €68 million in FY26 to €77 million in FY27, €93 million in FY28 and €105 million in FY29, remaining at €105 million in FY30. The scheduled value therefore increases by €37 million between FY26 and FY29. These values are also stated on an expected peak per-annum basis rather than as reported regional sales.

The schedule shows a €9 million increase from FY26 to FY27 and a further €16 million increase from FY27 to FY28. The move from €93 million in FY28 to €105 million in FY29 adds another €12 million, after which the disclosed schedule is flat through FY30. Endurance Europe provides no split of these ramp-up values between EV, hybrid, ICE/Common and Non Auto applications.

The FY30 €105 million figure carries a qualification in the presentation. Endurance Europe says €17 million of new orders are expected to reach peak invoicing of €105 million because certain orders peak in earlier years. This means the ramp-up timing reflects the production profiles of different programmes, rather than a direct comparison with the value of awards received in any one financial year.

Conclusion

Endurance Europe’s disclosed awards show that EV and hybrid applications account for €174 million of its €199 million order wins from FY23 through H1FY27. The 88% share contrasts with ICE end-use of about 30% in current regional revenue, although order wins at expected peak annual value and current revenue are different measures.

The next disclosed markers are ramp-up values of €77 million in FY27, €93 million in FY28 and €105 million in FY29 and FY30. Management also expects ICE end-use to reduce to 25% of Endurance Europe revenue in FY28, compared with about 30% currently, but the presentation does not provide a powertrain-level ramp-up schedule or an FY28 revenue forecast.