Bobst (BOBNN) H2 2024 earnings summary

Executive summary

• Achieved second-highest turnover ever at CHF 1,891.2 million in 2024, with EBIT of CHF 155.6 million and return on capital employed at 22%, despite a 3.5% sales decline year-over-year and a 6% drop in order intake.

• Strategic focus on digitalization, sustainability, and expanding technology reach, with new business models and services launched.

• Maintained leading market positions and continued innovation across all packaging segments.

Financial highlights

• Sales declined 3.5% year-over-year to CHF 1,891.2 million, mainly due to negative FX impact and lower volumes.

• EBIT reached CHF 155.6 million (8.2% margin), the second-best year ever, up 5.7% year-over-year.

• Net result declined by 19.7% to CHF 95.8 million, impacted by negative financial result from FX hedges and sale of participations.

• Earnings per share at CHF 5.80; proposed dividend of CHF 5 per share.

• Cash improved by CHF 35 million, with cash & cash equivalents at CHF 287.7 million as of year-end.

Outlook and guidance

• Sales and EBIT expected to be lower in 2025 due to economic and political uncertainties, lower backlog, and volume reductions; sales guidance in the CHF 1,800–1,900 million range and EBIT margin targeted at a minimum of 8%.

• Long-term targets remain: sales CHF 1.8–1.9 billion, EBIT margin >8%, ROCE ≥20%, payout ratio ≥50%, equity ratio target 30–35%.

• No major acquisitions planned for 2025; focus on bolt-on opportunities and stabilizing customer satisfaction.