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Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Medmix (MEDX) investor relations material
Medmix H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary23 Jul, 2025
Executive summary
Profitability and gross profit increased above guidance despite a 6.5% year-over-year revenue decline to CHF 225.4 million, with gross profit up 2.4% to CHF 82.5 million and margin improvements driven by efficiency gains.
Growth and Efficiency Program delivered CHF 8.5 million in H1 cost savings, with CHF 15 million secured toward a CHF 30 million two-year target and 70 initiatives underway.
Recognized as one of nine Swiss companies with an A score in the CDP sustainability ranking.
Operating cash flow and ONCF decreased due to inventory build-up to mitigate U.S. tariffs and improve service levels.
Financial highlights
Revenues declined 6.5% year-over-year (–4.6% organic), with foreign exchange effects of –2%.
Adjusted EBITDA margin rose to 19.9% (+80bps), above full-year guidance, driven by higher Dental mix and operational efficiencies.
EBIT increased 22.2% year-over-year to CHF 15.7 million, with EBIT margin at 7%, up 170 basis points.
Free cash flow rose 50.9% year-over-year to CHF 11.4 million.
Gross profit: CHF 82.5 million (+2.4% year-over-year); gross margin 36.6% (+320bps).
Outlook and guidance
Full-year 2025 revenue expected to decline at a rate similar to H1 2025 on an FX-adjusted basis.
Adjusted EBITDA margin guidance for 2025 remains at 18–19%; midterm guidance is a 3-year CAGR in revenues above 4% and adjusted EBITDA margin above 20%.
Cost-out program targets CHF 30 million over two years, with CHF 17–20 million expected to be realized in 2025.
Price increases from July 2025 are expected to offset about two-thirds of the U.S. tariff impact this year.
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Frequently asked questions
Medmix AG is a Swiss company specializing in high-precision delivery devices for a variety of sectors, including healthcare, consumer, and industrial applications. The company designs and manufactures mixing, dosing, and application systems, with a product portfolio that includes medical injectors, dental applicators, and industrial mixing solutions. Medmix serves industries requiring precise application and delivery technologies, providing products that meet stringent performance and quality standards. The company is headquartered in Zug, Switzerland, and its shares are listed on the SIX Swiss Exchange.
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