Carlo Gavazzi Holding AG (GAV) H1 25/26 earnings summary

Executive summary

• Bookings rose 53.4% year-over-year to CHF 68.1 million, reflecting a strong rebound in automation markets, especially in the Americas and Asia.

• Revenue from sale of goods increased 6.2% to CHF 68.1 million, with local currency growth of 9.3% offset by a 4.9% negative currency effect.

• Net profit swung to a loss of CHF 0.4 million from a profit of CHF 1.6 million in the prior year, mainly due to a CHF 2.6 million restructuring charge related to the Malta operations.

• Gross profit improved to CHF 36.7 million, but gross margin declined to 53.9% from 56.0% due to an unfavorable product mix.

Financial highlights

• EBITDA fell 33.3% year-over-year to CHF 4.0 million; EBIT dropped 60.6% to CHF 1.3 million.

• Total equity attributable to owners decreased 3.3% to CHF 130.3 million as of September 30, 2025.

• Net cash position declined 3.2% to CHF 46.1 million.

• Earnings per share for ordinary shares was CHF -0.56, down from CHF 2.30 a year earlier.

Outlook and guidance

• Strategic focus on new product development for key industries is expected to drive medium- and long-term growth.

• Economic and geopolitical uncertainties, as well as local downturn risks, are expected to persist in the second half of 2025/26.

• Americas and China are anticipated to offer stronger opportunities from mid-2026, supported by investments in manufacturing and R&D.