Orell Füssli (OFN) H1 2025 earnings summary

Executive summary

• Revenue rose to CHF 120.1 million, up 12% year-over-year, driven by Security Printing, Book Retailing, and the acquisition of Verlag SKV AG.

• EBIT increased to CHF 10.2 million from CHF 4.6 million, with an EBIT margin of 8.5% versus 4.3% last year.

• Net income reached CHF 7.2 million, a significant rise from CHF 1.8 million in the prior year.

• Procivis subsidiary gained momentum in the European e-ID market, leveraging regulatory changes.

• The company exceeded its growth target of 4%-6% despite global and domestic uncertainties.

Financial highlights

• EBITDA was CHF 16.1 million, up from CHF 10.7 million year-over-year.

• Cash flow from operating activities was CHF 6.9 million, down from CHF 8.6 million last year.

• Earnings per share increased to CHF 3.41 from CHF 0.81.

• Cash and cash equivalents at period end were CHF 52.9 million, down from CHF 66.6 million at year-end 2024.

• Dividend per share increased by CHF 0.50 to CHF 4.40.

Outlook and guidance

• Forecast for 2025 raised: revenue growth now expected above 4%-6% target range, with EBIT margin slightly higher than previous year.

• Strong order backlog in Security Printing and Zeiser divisions supports positive outlook for the second half.

• Positive sales outlook for H2 2025, supported by seasonal trends.