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OC Oerlikon (OERL) investor relations material
OC Oerlikon Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed transformation to a pure-play material science and surface technologies company, focusing on PVD, CVD coatings, 3D printing, and proprietary materials, with Barmag divestment finalized in February 2026.
Achieved a 45% reduction in administration costs since 2019, supporting agility and cost reduction.
Maintained strong innovation pipeline with R&D investment at 5-6% of sales, supporting resilience and growth in core markets.
Strategic focus on digitalization, operational efficiency, and sustainability, with significant ESG achievements including a 17% reduction in Scope 1 & 2 CO2 emissions and 47% renewable electricity in 2025.
Stable sales in 2025 despite challenging macroeconomic and geopolitical conditions, with strong order intake and resilience from innovation leadership.
Financial highlights
FY 2025 order intake rose 6.5% year-over-year to CHF 1.655 billion at constant FX, with a book-to-bill ratio of 1.06.
Sales remained stable at CHF 1.568 billion at constant FX, with slight growth in H2 offsetting H1 decline.
Operational EBITDA was CHF 271 million (17.3% margin), down 11% year-over-year, impacted by negative mix and FX headwinds.
Net book gain of CHF 287 million from Barmag divestment to be booked in 2026.
Proposed total dividend of CHF 0.85 per share, including a CHF 0.65 extraordinary dividend from Barmag proceeds.
Outlook and guidance
2026 sales expected to grow low single digits organically at constant FX, with continued subdued demand in general industry, tooling, automotive, and luxury.
Operational EBITDA margin guided at around 17.5% for 2026, with further improvement in ROCE anticipated.
End markets anticipated to stabilize in 2026 after a subdued 2025, with regional discrepancies and gradual recovery in Europe and the US.
Continued deleveraging targeted, aiming for net debt/EBITDA below 2x by 2027.
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