Business
Sulzer : Business review (Sulzer Midyear Report 2025 Business review)
Sulzer : Business review (Sulzer Midyear Report 2025 Business
About this update from Sulzer Ag
[{"type":"text","content":"\n \n Business review\n \n \n \n 8 Financial review\n \n \n 13 Business review divisions\n \n \n 13 Flow\n \n \n 15 Services\n \n \n 17 Chemtech\n \n \n \n Strong sales growth and profitability\n \n \n \n Note: Unless otherwise indicated, changes from the previous year are based on organic figures (adjusted for currency effects, acquisitions / divestitures and deconsolidations).\n \n \n \n Sulzer demonstrated resilience and operational strength in a challenging market environment, delivering a strong operational performance in the first half of 2025. Sales grew by 6.3% year-on-year in H1 2025, supported by a healthy backlog conversion. Through sustained efforts and focus on \"Sulzer Excellence,\" Sulzer achieved a strong profitability, with an EBITDA margin of 14.4% (H1 2024: 13.5%), up 90 basis points. Order intake for the first half of the year was -2.4% compared with the same period in the previous year (H1 2024: 8.9%) on the back of a strong 2024. Free cash flow totaled CHF 43.2 million, representing a decrease of CHF 12.2 million from the first half of 2024 (H1 2024: CHF 55.4). This was mainly due to customer project delays resulting in higher inventories, coupled with the negative impact of currency translations.\n \n \n \n Slightly lower order intake in H1\n \n \n Geopolitical uncertainties have caused customer investment delays, which impacted order intake timing. This resulted in an order intake decrease of 2.4% to CHF 1'961.4 million compared with H1 2024. Excluding the currency conversion impact, the order intake would have\n \n \n been CHF 2'035.2 million. The gross profit margin on order intake improved by 210 basis points, reaching 36.3%.\n \n Orders\n \n \n \n millions of CHF\n \n \n \n 2024\n \n \n \n Change in +/-\n \n \n \n +/-% organic 1)\n Order intake\n \n \n 2'078.8\n \n \n -117.4\n \n \n -2.4\n \n \n Order intake gross margin\n \n \n 34.2%\n \n \n 2.1\n \n \n Order backlog as of June 30 / December 31\n \n \n 2'300.0\n \n \n 27.5\n \n \n \n 1) Adjusted for acquisition, divestiture / deconsolidation and currency effects.\n \n \n \n 2025\n \n \n 1'961.4\n \n \n 36.3%\n \n \n 2'327.5\n \n In the Flow division, order intake declined by 3.1%, compared with 6.3% growth in H1 2024. The Water and Industrial business achieved solid growth of 5.0%, whereas the Energy and Infrastructure business decreased by 13.2% du...