Slide 1: HUBER+SUHNER
HUBER+SUHNER
Slide 2: Full-year results 2025 Media and analysts' conference
Full-year results 2025 Media and analysts’ conference 10 March 2026 | Full-year results 2025 | Media and analysts' conference 2
Slide 3: Agenda
Agenda Overview of business year 2025 Urs Ryffel (CEO) Financial results 2025 Richard Haemmerli (CFO) Strategic focus, trends, outlook 2026 Urs Ryffel (CEO) Questions and answers Standing lunch 10 March 2026 | Full-year results 2025 | Media and analysts' conference 3
Slide 4: Key figures 2025
Key figures 2025 861.4 10.5% 74.9 4.03 net sales in EBIT in percent net income in earnings per CHF million of net sales CHF million share in CHF 7.1% 69.5 17.1% 77.9% R&D spend in free operating cash return on equity ratio % of net sales flow in CHF million invested capital 10 March 2026 | Full-year
Slide 5: Record order intake and increased profit
Record order intake and increased profit MCHF Key aspects • 2025 impacted by geopolitical and 2025 2024 Δ% economic uncertainty, including volatile US tariff policy Order intake 1’032.0 908.0 13.7 • Significant gains in order intake Net sales 864.1 893.9 (3.3) thanks to broad-based demand in Industr
Slide 6: Clear EBIT improvement
Clear EBIT improvement MCHF 110 9–12% 15% EBIT margin target 6–9% 8–10% 104.6 103.2 range 100 90.8 90 86.6 82.5 80.5 12.1% 77.6 80 69.7 10.8% 10% 70 10.5% 61.2 9.5% 9.7% 9.7% 58.1 9.3% 9.1% 60 8.3% EBIT 50 7.5% EBIT margin 40 5% 30 20 10 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 Marc
Slide 7: Industry grows by double digits
Industry grows by double digits MCHF Key aspects • Double-digit percentage growth in 2025 2024 Δ% order intake and sales, with positive book-to-bill rate of 1.09 Order intake 355.7 306.1 16.2 • Broad-based demand across all Net sales 325.2 276.7 17.5 subsegments • Growth initiative Aerospace & Defen
Slide 8: Communication sees strong orders, as sales and profit fall
Communication sees strong orders, as sales and profit fall MCHF Key aspects • Major jump in order intake thanks to 2025 2024 Δ% Data Center growth initiative, driven by demand for optical circuit switches Order intake 418.3 343.2 21.9 used in hyperscaler infrastructure Net sales 274.4 353.6 (22.4) •
Slide 9: Transportation with stable business volume and higher profit
Transportation with stable business volume and higher profit MCHF Key aspects • Order intake and sales almost 2025 2024 Δ% unchanged from prior year, with book- to-bill rate of 0.98 Order intake 258.0 258.7 (0.3) • Railway showed higher sales amid stable order intake, with positive Net sales 264.5 2
Slide 10: Net sales shift from Asia-Pacific to Americas and EMEA
Net sales shift from Asia-Pacific to Americas and EMEA MCHF 500 +5.9 % 21% 400 300 2025 55% +23.7 % 200 -34.4 % 24% 100 0 EMEA Americas Asia-Pacific EMEA 2024 Americas 2025 Asia-Pacific 10 March 2026 | Full-year results 2025 | Media and analysts' conference 10
Slide 11: Sustainability strategy: responsible ESG practices
Sustainability strategy: responsible ESG practices Adressing climate change: • SBTi validated scope 1+2 target from 2017 achieved in 2025 • New targets validated by SBTi in 2025 Near-term • Scope 1+2 emissions: -55% by 2030 • Scope 3 emissions: -25% by 2030 Long-term • Scope 1, 2 and 3 emissions: Ne
Slide 12: Agenda
Agenda Overview of business year 2025 Urs Ryffel (CEO) Financial results 2025 Richard Haemmerli (CFO) Strategic focus, trends, outlook 2026 Urs Ryffel (CEO) Questions and answers Standing lunch 10 March 2026 | Full-year results 2025 | Media and analysts' conference 12
Slide 13: Record order intake driven by organic growth in all segments
Record order intake driven by organic growth in all segments MCHF 1'200 97.0 4.4 +13.7% 1'032.0 1'000 62.7 -40.1 908.0 800 Organic: +18.1% -4.4% 600 400 200 0 2024 Industry Communication Transportation FX, copper & portfolio 2025 10 March 2026 | Full-year results 2025 | Media and analysts' conferenc
Slide 14: Organic net sales on prior-year level
Organic net sales on prior-year level MCHF 1'000 60.8 900 893.9 6.2 864.1 -3.3% -66.1 -30.6 800 700 Organic: +0.1% -3.4% 600 500 400 300 200 100 0 2024 Industry Communication Transportation FX, copper & portfolio 2025 10 March 2026 | Full-year results 2025 | Media and analysts' conference 14
Slide 15: Gross margin increase compared to previous years
Gross margin increase compared to previous years MCHF 200 37.7% 38.1% 40% 36.5% 35.8% 36.2% 34.8% 34.9% 34.6% 174 166 167 168 150 156 160 159 30% 134 100 20% 50 10% 0 0% H1/22 H2/22 H1/23 H2/23 H1/24 H2/24 H1/25 H2/25 Gross profit Gross margin 10 March 2026 | Full-year results 2025 | Media and analy
Slide 16: Increase in operating expenses driven by R&D and IT
Increase in operating expenses driven by R&D and IT MCHF 300 28.0% 30% 26.6% 26.0% 250 Σ 241.8 Σ 226.6 Σ 232.5 54.1 50.0 49.3 200 20% 56.2 61.5 150 57.4 100 10% 119.3 127.0 126.2 50 0 0% 2023 2024 2025 S&M R&D Admin in % of net sales 10 March 2026 | Full-year results 2025 | Media and analysts' confe
Slide 17: EBIT improvement primarily driven by Industry segment
EBIT improvement primarily driven by Industry segment MCHF EBIT bridge EBIT margin 120 20% 18.0% 17.0% 100 11.4 1.9 90.8 86.6 -7.1 -2.0 15% 80 10.5% 60 9.7% 10% 8.1% 7.9% 8.0% 7.3% 40 5% 20 0 0% 2024 Industry Communication Transportation Corporate 2025 Total Industry Communication Transportation 202
Slide 18: Solid financial result while income taxes increased
Solid financial result while income taxes increased MCHF 2025 2024 Δ% Tax rate 25% EBIT 90.8 86.6 4.9 Financial result (1.0) (0.8) 20% 18.5% Income before taxes 89.8 85.8 4.7 18.1% 16.7% 15.7% Income taxes (15.0) (13.5) 15% Net income 74.9 72.3 3.6 Key aspects 10% • Financial result impacted by envi
Slide 19: Accelerated investments in capacity expansion
Accelerated investments in capacity expansion MCHF 60 Investments in % of net sales 7% 6.4% 6.0% 6% 45 5.0% 5% 4% Average 30 depreciation 55.5 51.4 3% 44.7 2% 15 1% 0 0% 2023 2024 2025 10 March 2026 | Full-year results 2025 | Media and analysts' conference 19
Slide 20: Increased net cash with reduced balance sheet total
Increased net cash with reduced balance sheet total MCHF 31.12.2025 31.12.2024 Δ% 30.06.2025 Cash and cash equivalent / marketable 211 184 15 178 securities Other current assets 337 397 (15) 351 Non-current assets 319 308 3 310 Financial liabilities - - - Other liabilities 192 233 (18) 200 Equity* 6
Slide 21: Strong free operating cash flow
Strong free operating cash flow MCHF 2025 2024 2023 2022 2021 Cash flow from operating activities 127.4 90.2 115.7 87.3 101.7 Cash flow from investing activities (excl. (57.9) (36.8) (52.0) (49.7) (45.1) marketable securities) Free operating cash flow 69.5 53.4 63.7 37.7 56.6 Dividend payment (35.1)
Slide 22: ROIC with positive momentum and above cost of capital
ROIC with positive momentum and above cost of capital 25% 23.2% 20.9% 20% 16.8% 17.1% 15.8% 15% 10% 5% 0% 2021 2022 2023 2024 2025 10 March 2026 | Full-year results 2025 | Media and analysts' conference 22
Slide 23: Stable dividend and payout ratio at upper end of defined range
Stable dividend and payout ratio at upper end of defined range Dividend per Payout target share in CHF range 3 60% 50% 51% 50% 50% 48% 49% 49% 49% 47% 50% 45% 2 2.10 40% 2.00 2.00 * 1.90 1.70 1.60 30% 1.50 1.25 1.30 1 1.10 20% 10% 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 * Dividend pro
Slide 24: Solid operating performance in challenging environment
Solid operating performance in challenging environment • Double-digit growth in order intake • FX development • Improved gross margin • Tariffs • Strong free operating cash flow • Increase in return on invested capital (ROIC) 10 March 2026 | Full-year results 2025 | Media and analysts' conference 24
Slide 25: Agenda
Agenda Overview of business year 2025 Urs Ryffel (CEO) Financial results 2025 Richard Haemmerli (CFO) Strategic focus, trends, outlook 2026 Urs Ryffel (CEO) Questions and answers Standing lunch 10 March 2026 | Full-year results 2025 | Media and analysts' conference 25
Slide 26: Highly attractive markets across all three segments
Highly attractive markets across all three segments Industry Communication Transportation Growth Growth Growth Aerospace & initiative Test & Data initiative Mobile Rail initiative Rolling Defense Measurement Center Network Communications Stock Growth High Power General Fixed Access CEM Electric init
Slide 27: Segment look-through 2025
Segment look-through 2025 2025 Sales by segment Sales by customer market growth Long-term growth drivers • Test & Measurement Industry Industrials • High Power Charging 22% Increasing demand for power and data connectivity • General Industrial 38% Communication satellite coverage Aerospace & Defense
Slide 28: Industry: High-tech applications allow for high differentiation
Industry: High-tech applications allow for high differentiation Growth initiative Core market Focused markets General Industrial Aerospace & Defense Aerospace & Test & High Power General Test & Defense Measurement Charging Industrial Measurement High Power Continued increase of Market expected to Fa
Slide 29: Communication: Technologies for rising data traffic and AI
Communication: Technologies for rising data traffic and AI Growth initiative Core markets CEM Components Data Center Mobile Network Data Mobile Fixed Access CEM Fixed Access Center Network Network Components Network Significant ongoing 5G roll-out almost Data traffic doubling Continued evolution inv
Slide 30: Transportation: Solutions to enable ecological mobility
Transportation: Solutions to enable ecological mobility Growth initiatives Core market Focused market Rail Communications Rolling Stock Electric Rail Rolling Advanced Driver Electric Vehicle Communications Vehicle Stock Assistant System Electrification adopted On-board and Continuous Assistance syst
Slide 31: Outlook 2026
Outlook 2026 • Market focus shaped by connectivity megatrends and human needs for Medium-term EBIT margin target range ecological mobility, seamless communication and personal safety Range of 9–12% remains unchanged • Focus on customer-centric innovation, technology leadership and Sales guidance for
Slide 32: Financial calendar
Financial calendar Annual General Meeting (Rapperswil SG) 01.04.2026 Half-year Report 2026 18.08.2026 Media and analysts’ conference (webcast) 18.08.2026 Capital Market Day 2026 (Pfäffikon ZH) 18.09.2026 Order intake and sales (9 months) 2026 20.10.2026 Order intake and sales (12 months) 2026 21.01.
Slide 33: Agenda
Agenda Overview of business year 2024 Urs Ryffel (CEO) Financial results 2024 Richard Haemmerli (CFO) Strategic focus, Trends, Outlook 2025 Urs Ryffel (CEO) Questions and answers Standing lunch 10 March 2026 | Full-year results 2025 | Media and analysts' conference 33
Slide 34: Connecting – today and beyond
Connecting – today and beyond
Slide 35: Disclaimer
Disclaimer This document is for presentation purposes only. It contains certain forward-looking statements including, but not limited to, those using the words “believes”, “assumes”, “expects” or formulations of a similar kind. Such forward-looking statements are made on the basis of assumptions and