Einhell's half-year figures put its Power X-Change battery platform at 56 per cent of group revenue, up from 53 per cent a year earlier, and at 85 per cent in Austria. For a company that sells across DIY, garden and workshop, that is the number worth reading: it says most of what Einhell now sells is bought because of a battery the buyer already owns.

The headline results are flat-to-slightly-up. Revenue for the first half of 2026 came in at €636.2m against €630.2m a year before — a rise of 0.9 per cent as reported, or 1.1 per cent adjusted for currency. Earnings before tax and before PPA effects were unchanged at €62.6m; including those effects, pre-tax earnings edged from €61.8m to €62.0m. EBIT rose 1.7 per cent to €65.3m, and the equity ratio improved from 50.4 per cent at the end of 2025 to 56.6 per cent.

Western Europe, which Einhell counts as including Germany, Austria and Switzerland, did the work. Revenue in that segment rose from €370.0m to €388.5m and earnings from €37.4m to €45.7m, with the company naming Spain, the United Kingdom and Italy among the markets where it grew. Einhell attributes the softness elsewhere to subdued European economies and to weather holding back the garden business — a real exposure for a firm with this much of its range outdoors.

Despite a challenging market environment, we maintained our earnings strength in the first half of the year and further strengthened our financial position. The growth in Western Europe and the stable development of revenue and earnings confirm that we are on the right track — Michael Brunner, CFO, Einhell Germany AG

Where the platform goes next

Einhell says the Power X-Change range should pass 500 products by the end of 2029, and that it wants the platform above 70 per cent of group revenue in the medium term. Chief executive Andreas Kroiss frames the goal as covering more applications across household, workshop, garden and leisure rather than as a sales target — which is the same thing viewed from the product side, since platform share only rises if there is a cordless version of the next thing a customer needs.

The company confirmed its guidance for the full year and says it expects the second half to develop positively, while naming continued economic softness in Europe and geopolitical and trade-policy uncertainty as the risks to that.

Why a results release is tool news

Einhell is the clearest case in this catalogue of a manufacturer whose strategy is a battery rather than a tool. At 56 per cent and rising, Power X-Change is no longer a range within Einhell — it is close to being Einhell, and the 85 per cent figure in Austria is a preview of what saturation looks like in a market where the platform arrived early. For anyone weighing an Einhell tool, that is the useful context: the company's own commitment to keeping the pack compatible is now underwritten by more than half its revenue.

Based on a press release from Einhell, published 18 August 2026.