Switzerland · Delayed Price · Currency is CHF Sulzer AG Earnings Call Transcripts
Fiscal Year 2025
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Record sales, order intake, and profitability were achieved in 2025, driven by strong aftermarket and water segments, despite FX headwinds and project delays. 2026 guidance anticipates continued growth, with large projects expected to materialize in H2 and EBITDA margin targeted above 16.5%.
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Sales and profitability improved year-over-year, with strong growth in Flow and Services, while Chemtech faced headwinds from Asia and geopolitical uncertainty. Guidance for higher sales and EBITDA margin above 15% is confirmed, with H2 expected to be stronger.
Fiscal Year 2024
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2024 saw double-digit growth in sales and order intake, with strong profitability and improved capital returns. All divisions contributed, with Chemtech excelling in margin gains despite China headwinds. 2025 guidance is for continued growth, with focus on backlog execution and operational excellence.
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Strong H1 2024 results with 9% order intake growth, higher profitability, and robust sales across all divisions. Updated guidance expects 9–12% order intake and 9–11% sales growth for the year, with no slowdown seen in July and a plan to refinance a CHF 250 million bond.
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The company aims for organic, capital-efficient growth above market rates by 2028, targeting an EBITDA margin above 17% and ROCE above 22%. Strategic focus is on high-value solutions in essential markets, operational excellence, and a shift toward services and solutions, all supported by robust financial discipline and a strong culture of execution.