Mikron (RXO) H1 2025 earnings summary

Executive summary

• Achieved strong operating profit margin of 11.3% in H1 2025, up from 7.8% in H1 2024, driven by favorable sales mix and segment/location shifts.

• Net sales rose 0.6% year-over-year to CHF 191.9 million, with Automation segment growth offsetting Machining Solutions decline.

• Net profit increased 25.2% to CHF 18.3 million, reflecting improved profitability.

Financial highlights

• Order intake stable at CHF 220.7 million; order backlog up 3.5% to CHF 351.9 million.

• EBITDA grew 34.2% to CHF 26.3 million; operating profit up 44.7% to CHF 21.6 million.

• Free cash flow dropped to CHF -7.2 million, mainly due to timing of customer prepayments and CHF 6.6 million investment in Boudry facility.

• Equity ratio improved to 58.9% from 56.7% at year-end 2024; net cash position at CHF 103.0 million.

Outlook and guidance

• Sales expected to slow in H2 2025 due to project timing; operating profit for H2 anticipated to be similar to H2 2024.

• Market uncertainties, especially in Machining Solutions, expected to persist.