Burkhalter (BRKN) H1 2025 earnings summary

Executive summary

• Sales increased by 3.4% year-over-year to CHF 586.8 million, driven by strong demand for building technology services.

• Earnings per share rose 3.2% to CHF 2.26 and group profit increased 3.0% to CHF 24.0 million in H1 2025.

• Operating result (EBIT) increased by 4.6% to CHF 29.5 million year-over-year.

• Completed two acquisitions so far this year, fewer than the four per year seen in previous years, reflecting an opportunistic approach to M&A activity.

• Management remains optimistic for the full year, expecting further moderate EPS growth.

Financial highlights

• Net revenue for H1 2025 was CHF 586.8 million, up from CHF 567.6 million in H1 2024.

• EBIT reached CHF 29.5 million, up from CHF 28.2 million year-over-year.

• Group profit was CHF 24.0 million, compared to CHF 23.3 million in the prior year.

• Earnings per share increased to CHF 2.26 from CHF 2.19 year-over-year.

• Dividend of CHF 4.85 per share approved, totaling CHF 51.5 million.

Outlook and guidance

• Management expects moderate EPS growth for the full year 2025 compared to 2024.

• Potential for a third or even fourth acquisition in the second half of the year, depending on opportunities.

• ERP system integration is progressing well, with completion expected in 2026; IT infrastructure project on track for 2027.

• High demand for building technology services is expected to continue, supported by energy efficiency initiatives.