Sulzer Ltd (0QQ9) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the mid year results presentation of Sulzer. Please feel free to ask your questions any time in the Q and A section. Please use the Q and A and not the chat. We will get to them after the presentations. And now I hand over to our hosts, Executive Chair, Susan Thome and CFO, Thomas Ziegler. Ladies and gentlemen, welcome to our mid year results presentation 2026. The first half year of 2026 has been both a challenging year for Sulzer half year and a very successful half year. Looking at our order intake, of course, with minus 3.9%, we cannot be satisfied. At the same time, we have to put this result into perspective. In one of our growth markets, The Middle East, there is unfortunately a war taking place. And this is not the moment for our customers to make major decisions on large size projects. At the same time, we see an increasing planning activities for the time after the hopefully soon end of the war or the necessity of protecting the own infrastructure. The situation in The Middle East does not only impact the Middle East, but it also has repercussions outside of the region, for example, as you have read in the newspapers for the fertilizer production, where Sulzer is involved with its separation and purification technology. At the same time, and again, to put numbers a little bit into perspective, for Sulzer in the half year results, a minus of 3.9% or a flat result. The difference is an order intake of below million. Now the result is as it is, but one large bioplastic polymer order that was expected to come in February would have moved us up in the half year from this result to flat. At the same time, you see also that our base business and the small project business is holding up very well in this situation and is actually increas...