Sulzer Sales growth and improved profitability Dienstag, 28. Juli 2026 - 06:13

• Sales: CHF 1’672.6m, +1.0%
• EBITDA: CHF 258.7m, +9.7%
• EBITDA margin: +110bps to 15.5%
• Solid order backlog of CHF 2’396.5m
• 2026 guidance confirmed

Divisional performance
Flow delivered improved profitability in the first half of 2026, with an EBITDA margin increasing to 13.3% from 12.3% in the prior-year period. Sales increased by 0.5%, while order intake grew by 1.4%, mainly driven by the solid base business in Energy and Infrastructure. The slightly lower order intake in Water and Industry business reflected supply chain disruptions and project delays due to the unresolved geopolitical situation in the Middle East.

Services delivered continued profitability improvement in the first half of 2026, with an EBITDA margin increasing to 17.7% from 16.7% in the prior-year period. Sales grew by 4.4%, supported by continued demand in energy-related markets. Order intake remained stable, increasing by 0.2% year-on-year and against a high comparison base from exceptionally large orders received in H1 2025 and customers deferring service cycles due to high energy prices.

Chemtech continued to operate in a challenging investment environment in the first half of 2026. While the core business of separation and purification (Mass Transfer Components and Services, MTCS) stabilized, the division faced headwinds on final project decisions for technologies such as biopolymers, Carbon Capture and Sustainable Aviation Fuels. As a result, order intake declined by 22.7%. Sales decreased by 4.9% with customer delivery timelines delayed. Despite lower sales, Chemtech reported a stable EBITDA margin of 11.7% as a result of continued execution of Sulzer Excellence and cost measures which were implemented in H2 2025. Organizational changes have been accelerated to reduce the cost base further. The division will be leaner, faster and more customer focused. 

Barring unforeseen events, Sulzer confirms its full-year guidance and its outlook for a backend-loaded year. Sulzer's growth potential remains fully intact, given the ever-increasing importance of secure infrastructure for the supply of energy, water and chemicals.

The documents on the 2026 Midyear results will be available at 6.00 a.m. on July 28, 2026, on our website: Investor Relations 

An online version of the Midyear report is available here: Midyear Report 2026

Registration and dial-in for the Midyear results conference, starting at 10:00 AM (CEST)