COLTENE (CLTN) H1 2026 earnings summary

Executive summary

• Net sales reached CHF 112.8m in H1 2026, down 4.4% year-over-year in CHF but up 0.8% in local currencies due to currency effects.

• EBIT margin declined to 5.1% from 6.4%, reflecting FX impacts, higher energy costs, and lower gross margin, partially offset by cost reductions.

• Net profit was CHF 4.1m, down 5% year-over-year, with a stable net profit margin of 3.6%.

• Free cash flow improved to CHF 4.8m from CHF -0.3m, driven by optimized inventories and working capital.

• Strategic focus on go-to-market execution, innovation, digital platforms, and new leadership in sales and marketing.

Financial highlights

• Net sales decreased by 4.4% to CHF 112.8m; up 0.8% at constant FX rates.

• EBIT dropped 23.6% to CHF 5.1m; EBIT margin at 5.1%.

• Net profit slightly decreased to CHF 4.1m; net profit margin unchanged at 3.6%.

• Effective tax rate fell to 20.7% from 24.1%, aided by a one-time tax refund.

• Operating expenses decreased by 5.3% year-over-year.

Outlook and guidance

• Sales growth expected modestly above market, with lower single-digit growth for FY 2026 in local currencies.

• EBIT margin guidance for FY 2026 set at 9–10%; medium-term target remains 13–15%.

• Expects demand recovery in H2 2026, with improved order momentum already visible in June.