Dottikon Es (DESN) H1 25/26 earnings summary

Executive summary

• Net sales for April–September 2025/26 reached CHF 196.1 million, up 24.9% year-over-year, driven by broad-based product and customer growth and earlier customer call-offs amid tariff uncertainty.

• EBITDA rose 45.4% to CHF 69.3 million, with a margin of 35.4%. EBIT increased 50.0% to CHF 56.0 million, and net income grew 47.7% to CHF 47.6 million, with a net income margin of 24.3%.

• Operating cash flow surged to CHF 81.6 million from CHF 23.8 million, reflecting strong profitability and working capital management.

• Investments in new production plants and capacity expansion continued, with property, plant, and equipment rising by CHF 19.5 million.

• The company expects net sales for the full year 2025/26 to exceed the previous year’s figure.

Financial highlights

• Net sales: CHF 196.1 million (+24.9% year-over-year).

• EBITDA: CHF 69.3 million (+45.4%), margin 35.4%.

• EBIT: CHF 56.0 million (+50.0%), margin 28.6%.

• Net income: CHF 47.6 million (+47.7%), margin 24.3%.

• Operating cash flow: CHF 81.6 million (+243.2%).

• Shareholders’ equity: CHF 1,040.0 million, equity ratio 74.9%.

Outlook and guidance

• Net sales for the full business year 2025/26 are expected to surpass the previous year’s level.

• High investment levels will continue as new production lines and plants are commissioned and operationalized through 2026.

• The company is preparing for increased demand for chemical development and manufacturing capacities, especially for innovative small-molecule APIs.