Huber + Suhner AG

Latest Results (07.07.2026):

Huber + Suhner AG — reporting full‑year 2025 (FY 2025 / fourth quarter 2025): The company delivered a record order intake and improved profitability in 2025 despite a strong Swiss franc and geopolitical headwinds. Orders rose to CHF 1,032.0m (+13.7%), net sales were CHF 864.1m (–3.3% reported; + prior‑year level adjusted to CHF 894.7m), EBIT increased to CHF 90.8m (10.5% margin) and net income was CHF 74.9m (EPS CHF 4.03). Free operating cash flow, net liquidity and ROIC all strengthened, and the Board proposes a higher dividend of CHF 2.00 per share.

Top-line and orders

Order intake reached a record CHF 1,032.0m (+13.7%) with an order backlog of CHF 432.2m and a book‑to‑bill of 1.19. Reported net sales fell to CHF 864.1m (–3.3%) largely due to a stronger Swiss franc; on a constant basis (currency, copper and portfolio adj.) sales were level with 2024 at CHF 894.7m.

Profitability and cash

Gross margin improved to 37.9% (from 35.4%), EBIT rose to CHF 90.8m (+4.9%) and the EBIT margin to 10.5% (+80bp). Net income was CHF 74.9m (+3.6%). Free operating cash flow was CHF 69.5m and net liquidity increased to CHF 211.1m. ROIC lifted to 17.1%.

Segment performance — Industry

Industry delivered broad‑based strength: order intake CHF 355.7m (+16.2%), net sales CHF 325.2m (+17.5%) and EBIT margin improved to 18.0% (up 100bp). Aerospace & Defense, Test & Measurement and High Power Charging notably outperformed.

Segment performance — Communication

Communication booked strong orders (CHF 418.3m, +21.9%) driven by large optical circuit switch (OCS) orders for hyperscale data centers, but reported net sales fell to CHF 274.4m (–22.4%) versus the prior year which included a large India project. EBIT margin eased slightly to 7.9%; OCS volumes are expected to convert to significant sales in 2026.

Segment performance — Transportation

Transportation stabilised: order intake CHF 258.0m (flat) and net sales CHF 264.5m (flat), with EBIT margin up to 8.0% ( +70bp). Railway showed positive demand (Rail Communications), while Electric Vehicle initiatives remained below expectations.

Investment, people and sustainability

R&D investment remained high at CHF 61.5m (7.1% of sales). Headcount rose to 4,224. Sustainability milestones include SBTi‑verified 2030 targets (–55% Scope 1+2; –25% Scope 3) and continued ESRS‑aligned reporting.

Dividend and outlook

The Board proposes a dividend of CHF 2.00 per share (up from CHF 1.90). Guidance: HUBER+SUHNER targets at least 10% organic sales growth for 2026 and an EBIT margin in the medium‑term target range of 9–12%, aiming for the upper half of that range in the current fiscal year, assuming no major macro shocks.