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Siegfried (SFZN) investor relations material
Siegfried H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered solid H1 2025 performance with net sales of CHF 619.5 million, up 1.6% in local currencies but down 0.1% in CHF, and confirmed full-year targets despite inflation, currency headwinds, and customer destocking.
Core EBITDA increased to CHF 133.9 million, with a margin of 21.6%, up from 21.3% last year.
Core net profit declined to CHF 65.7 million from CHF 71.7 million, mainly due to negative exchange rate differences.
Significant progress in net working capital optimization released over CHF 35 million in cash.
Secured new contracts, expanded manufacturing capabilities, and achieved 99% OTIF at the Malta site.
Financial highlights
H1 2025 sales reached CHF 619.5 million, flat in CHF but up 1.6% in local currencies year-over-year.
Drug substances contributed CHF 413.8 million; drug products CHF 205.8 million.
Core gross profit rose to CHF 163.0 million, a 2.2% increase year-over-year.
Operating cash flow improved significantly, rising to CHF 149.6 million from CHF 118.9 million in H1 2024.
CapEx at CHF 100 million, focused on organic expansion and key projects like Minden.
Outlook and guidance
Full-year 2025 guidance confirmed: mid-single-digit sales growth in local currencies and core EBITDA margin above 22%.
Majority of H2 2025 revenue already at advanced manufacturing stages; seasonality expected to be stronger than prior years.
Positive mid-term outlook with continued profitable growth above market, excluding M&A.
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