CPH Group (CPHN) investor relations material

Executive summary

• Sales remained stable at CHF 176.1 million in H1 2026, with EBITDA at CHF 28.3 million and strong demand from pharmaceutical customers, especially in Europe.

• Zeochem saw growth in molecular sieves for energy and chemicals but faced strong competition and a slowdown in deuterated compounds.

• Transformation into two divisions advanced, integrating LOG Pharma, SiliCycle, and Sorbchem acquisitions, strengthening market position.

• Board approved a higher dividend payout ratio, targeting 40-60% of net result, reflecting stable cash flows.

Financial highlights

• Group sales for H1 2026 were CHF 176.1 million, flat year-over-year; EBITDA was CHF 28.3 million (down 6.3% YoY), and net result CHF 14.3 million (down 16.4% YoY).

• Gross profit increased by 2.1% to CHF 86.3 million, with a margin of 49.0%.

• Free cash flow improved to CHF 13 million from negative CHF 2 million in the prior year; free cash flow margin reached 7.3%.

• Equity ratio remained strong at 53.5%.

• Net debt stood at CHF 25.4 million as of June 30, 2026.

Outlook and guidance

• Full-year 2026 sales and EBITDA expected slightly higher than 2025; EBIT and net result to remain broadly in line with prior year, assuming stable FX and no major geopolitical escalation.

• Perlen Packaging anticipates higher sales and EBITDA; Zeochem expects higher sales but slightly lower EBITDA.

• Mid-term targets confirmed: sales growth 5-8% p.a., EBITDA margin 16-18%, free cash flow margin 8-10%, payout ratio raised to 40-60%.