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BVZ Holding (BVZN) investor relations material
BVZ Holding H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Robust and diversified demand across all business segments, despite a challenging international market environment.
Strategic investments continued, including major rolling stock and infrastructure projects.
Total revenue including public service compensation reached CHF 112.0 million, up 0.4% year-over-year.
Net profit declined by 15.5% to CHF 11.0 million due to higher operating costs and special depreciation.
Private sector profit (dividend-eligible) fell 16.9% to CHF 10.4 million.
Financial highlights
Operating income (EBIT) was CHF 15.4 million, down from CHF 17.8 million in H1 2025.
EBITDA decreased to CHF 32.7 million from CHF 34.9 million year-over-year.
Earnings per share dropped to CHF 46.67 from CHF 55.25.
Equity ratio improved to 38.2%, up 0.5 percentage points from H1 2025.
Cash flow from operations was CHF 20.1 million, slightly down from CHF 20.9 million in H1 2025.
Outlook and guidance
Full-year 2026 results expected below record 2025 but in line with recent years.
Continued focus on value-driven growth, quality offerings, and resilient structures.
Significant investments planned in rolling stock, infrastructure, and real estate.
- Record results in 2025 with strong growth, robust ESG progress, and a 66.7% higher dividend.BVZN
H2 2025 - Record profit and revenue growth driven by strong tourism and mobility demand.BVZN
H1 2025 - Revenue up 5% to CHF 216.2m, net profit CHF 23.0m, dividend raised to CHF 18 per share.BVZN
H2 2024 - Revenue up 7.4%, but profit down 24.6% as storms hit Mobility; private segments resilient.BVZN
H1 2024
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