OC Oerlikon Management AG Ad hoc announcement pursuant to Art. 53 LR News Release
| First half 2026 results |
Pfaeffikon, Schwyz, Switzerland, August 6, 2026 |
- Q2 order intake increased by 20% compared to Q2 2025 at constant FX, primarily driven by increased volume and higher material prices
- Q2 sales up 8% at constant FX, reflecting strong momentum in materials, in particular Aviation, Power Generation and General Industries
- H1’26 profitability improved strongly year-on-year, supported by prior year cost-out actions, partially improving end markets and positive materials price effects
- Introduction of a new segment reporting structure following the completion of the Barmag divestment
- Raising full-year guidance following a strong first half, sales expected to increase mid-single-digit (previously low single-digit %) and operational EBITDA margin raised to 18.5% – 19.5% (previously ~17.5%), assuming stable prices for critical minerals
Key figures Oerlikon1 as of June 30, 2026 (CHF million)2
|
|
H1 2026 |
H1 2025 |
% change CHF |
% change comparable3 |
Q2 2026 |
Q2 2025 |
% change CHF |
% change comparable3 |
|
Order intake |
920 |
826 |
11.4% |
19.0% |
465 |
405 |
15.0% |
20.1% |
|
Sales |
790 |
786 |
0.5% |
6.7% |
412 |
395 |
4.3% |
8.2% |
|
Operational EBITDA4 |
156 |
131 |
18.6% |
|||||
|
Operational EBITDA margin4 |
19.7% |
16.7% |
+300 bps |
|
|
|
|
|
|
EBITDA4 |
157 |
122 |
29.2% |
|||||
|
EBITDA margin4 |
19.9% |
15.5% |
+440bps |
|||||
|
Result4 |
40 |
-46 |
|
|
|
|
|
|
1 Oerlikon refers to continuing operations. 2 Due to rounding, some totals may not correspond with the sum of the separate figures. For the reconciliation of operational and reported EBITDA figures, please see earnings presentation. 3 Adjusted for FX change, there was no M&A impact in the comparable period. 4 Reported annually and semiannually only.
Michael Suess, Executive Chairman of Oerlikon, stated:
“The strong first half results confirm that Oerlikon is developing in the right direction. Some of our markets are showing steady growth, particularly Aerospace, Energy, Semiconductors and Defense, while a few markets are still flat. The combination of our industry exposure/diversification, regional presence and technology offering allows us to navigate this environment successfully. Based on the strong start of the year and improved visibility for the second half, we are raising our full-year guidance. We look forward to providing a deeper update on our strategy, growth opportunities and long-term financial ambitions at our Capital Markets Day in September.”
Oerlikon 2026 half-year overview
In the first half of 2026, Oerlikon’s order intake increased 19% compared to the first half 2025, to CHF 920 million and sales increased 6.7% to CHF 790 million, at constant FX.
These first six months were characterized by a fragmented geopolitical environment, with persistent trade tensions, ongoing regional conflicts and policy uncertainty. This situation continued to affect supply chains and certain customer decisions.
Despite this challenging context, activities in Aviation, Power Generation and General Industries continued to drive growth in orders and sales, supported by higher volumes and increased critical minerals prices, while Automotive partially offset this performance. Luxury remained stable on a like-for-like basis.
Operational EBITDA was CHF 156 million, or 19.7% of sales, supported by positive effects from footprint optimizations and cost-out actions initiated in 2025, favorable mix effect and inventory reevaluation resulting from higher raw materials prices. Net profit for the first half of the year reached CHF 328 million, including the gain from the Barmag divestment. In addition, Oerlikon successfully continued its deleveraging path, achieving a net debt/Operational EBITDA ratio of 2.5x at the end of H1’26 and reaching its end of year target already six months ahead of schedule.
Update on 2026 outlook
After a strong first half and increasing visibility for the remainder of the year, Oerlikon is raising its full-year guidance. Oerlikon now expects full year sales to increase by mid-single-digit percent at constant FX (previously low single-digit growth) and operational EBITDA margin in the range of 18.5% – 19.5% (previously ~17.5%), assuming Tungsten and Yttrium prices broadly stable at current level.
Segment information
Following the completion of the Barmag divestment in February 2026, Oerlikon has introduced a segment reporting structure that reflects the company’s focused portfolio. Reporting is now organized into three segments: Coating Services, Materials & Equipment and Components.
|
CHF million |
Oerlikon2 |
Coating Services |
Materials & Equipment |
Components |
||||
|
|
H1 2026 |
H1 2025 |
H1 2026 |
H1 2025 |
H1 2026 |
H1 2025 |
H1 2026 |
H1 2025 |
|
Order intake |
920 |
826 |
306 |
307 |
387 |
279 |
227 |
240 |
|
Sales |
790 |
786 |
303 |
306 |
265 |
238 |
222 |
242 |
|
Organic sales growth1 |
6.7% |
5.5% |
19.7% |
-4.4% |
||||
|
Operational EBITDA |
156 |
131 |
57 |
56 |
66 |
43 |
26 |
30 |
|
Operational EBITDA margin |
19.7% |
16.7% |
18.8%3 |
18.0%3 |
23.8%3 |
16.9%3 |
11.9%3 |
12.4%3 |
|
Operational EBIT |
78 |
46 |
27 |
23 |
52 |
28 |
-3 |
-1 |
|
Operational EBIT margin |
9.8% |
5.8% |
8.9%3 |
7.5%3 |
18.9%3 |
11.3%3 |
-1.4%3 |
-0.3%3 |
1 Adjusted for FX change, there was no M&A impact in the comparable period, 2 including Others 3 Operational EBITDA margin and Operational EBIT margin calculated on total sales including intercompany sales
In Coating Services, which comprises Oerlikon’s coating services activities, market conditions remained mixed, the growth in sales in Europe, APAC and the Americas was offset by FX headwinds. Profitability improved with favorable mix, operational leverage and cost-efficiency measures.
In Materials & Equipment, which comprises the production of coating systems, related aftermarket services and advanced materials orders remained strong as customers continue to secure supply of certain critical minerals amid trade tensions and higher raw materials prices. Sales growth was mainly driven by materials, while equipment continued to secure orders.
In Components, which comprises the manufacturing of precision parts, the lower activity in Automotive weighed on the overall segment performance, such as HRSflow, affected by fewer new vehicle model launches due to continued uncertainty in automotive markets. Luxury activities stabilized compared to the previous year with profitability being supported by the restructuring measures implemented in 2025.
Additional Information
To participate in the results’ conference call today at 10:00 CEST, please click on this linkto join the webcast. To ask questions in the Q&A session, please dial in.
|
Country |
Local toll call numbers |
|
Switzerland |
+41 58 310 50 00 |
|
UK |
+44 203 059 58 63 |
|
USA |
+1 631 570 56 13 |
|
HD Web Phone™ |
The interim (half-year) report 2026 in English can be downloaded at http://www.oerlikon.com/interimreport-2026, and the media release can be found at www.oerlikon.com/ir and www.oerlikon.com/pressreleases.
About Oerlikon
Oerlikon (SIX: OERL) is a global leader in surface technologies and advanced materials. With a unique portfolio spanning surface engineering, high-performance materials, coating equipment and components, we make products better by enhancing performance, efficiency and sustainability. Oerlikon serves a wide range of industries, including aerospace, automotive, energy, medical, luxury, semiconductors and tooling. Headquartered in Pfaeffikon, Switzerland, Oerlikon operates in 38 countries with a global workforce of around 10,000 people. In 2025, Oerlikon achieved sales of CHF 1.6 billion.
For further information, please contact:
| Sandra Wiesner Head of Marketing and Communications Tel: +41 58 360 96 29 sandra.wiesner@oerlikon.com |
Aymeric Jamin Head of Investor Relations Tel: +41 58 360 96 59 aymeric.jamin@oerlikon.com |
Disclaimer
OC Oerlikon Corporation AG, Pfäffikon together with its affiliates, hereinafter referred to as “Oerlikon”, has made great efforts to include accurate and up-to-date information in this document. However, Oerlikon makes no representation or warranties, expressed or implied, as to the truth, accuracy or completeness of the information provided in this document. Neither Oerlikon nor any of its directors, officers, employees or advisors, nor any other person connected or otherwise associated with Oerlikon, shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this document.
The contents of this document, including all statements made therein, are based on estimates, assumptions and other information currently available to the management of Oerlikon. This document contains certain statements related to the future business and financial performance or future events involving Oerlikon that may constitute forward-looking statements. The forward-looking statements contained herein could be substantially impacted by risks, influences and other factors, many of which are not foreseeable at present and/or are beyond Oerlikon’s control, so that the actual results, including Oerlikon’s financial results and operational results, may vary materially from and differ from those, expressly or implicitly, provided in the forward-looking statements, be they anticipated, expected or projected. Oerlikon does not give any assurance, representation or warranty, expressed or implied, that such forward-looking statements will be realized. Oerlikon is under no obligation to, and explicitly disclaims any obligation to, update or otherwise review its forward-looking statements, whether as a result of new information, future events or otherwise.
This document, including any and all information contained therein, is not intended as, and may not be construed as, an offer or solicitation by Oerlikon for the purchase or disposal of, trading or any transaction in any Oerlikon securities. Investors must not rely on this information for investment decisions and are solely responsible for forming their own investment decisions.