COLTENE (CLTN) investor relations material

Executive summary

• Net sales reached CHF 112.8 million, down 4.4% year-over-year in CHF but up 0.8% in local currencies, with strong EMEA and Infection Control growth offset by declines in North America, Asia, and Latin America.

• EBIT margin declined to 5.1% from 6.4%, reflecting lower gross margin, FX impacts, and higher energy costs, partially offset by cost reductions.

• Net profit was CHF 4.1 million, down 5% year-over-year, with a stable net profit margin of 3.6%.

• Free cash flow improved to CHF 4.8 million from CHF -0.3 million, driven by optimized inventories and working capital.

• Strategic focus on go-to-market execution, innovation, digital platforms, and new leadership in sales and marketing.

Financial highlights

• Net sales decreased by 4.4% to CHF 112.8 million; up 0.8% at constant FX rates.

• EBIT dropped 23.6% to CHF 5.8 million; EBIT margin at 5.1%.

• Gross margin declined to 65.0% from 66.4% year-over-year, mainly due to adverse currency and higher material/logistics costs.

• Net profit slightly decreased to CHF 4.1 million; net profit margin unchanged at 3.6%.

• Free cash flow rose to CHF 4.8 million, supported by improved operating cash flow.

Outlook and guidance

• Sales growth expected modestly above market, with lower single-digit growth for FY 2026 in local currencies.

• EBIT margin guidance for FY 2026 set at 9–10%; medium-term target remains 13–15%.

• Expects improved demand and profitability in H2 2026 as negative factors subside.

• Dividend payout ratio target maintained at about 70%, with a sustainable long-term policy.