Bachem Holding AG (CHIX:BANBz)

Half Year 2026 BACHEM HOLDING AG Earnings Call Transcript

Jul 30, 2026 / 08:00 AM GMT

Release Date Price: CHF78.1 (+6.51%)

Transcript

Key Points

Positve

Bachem Holding AG (BCHMF) achieved 4% sales growth in H1 2026 (7.3% in local currencies) despite a strong comparison base and no contribution from Building K, which is expected to drive significant H2 growth.
The company has full order books for the remainder of 2026, providing high visibility and confidence in achieving its refined full-year sales growth guidance of 35-40% in local currencies.
Building K successfully produced its first commercial GMP material in H1 2026, with the ramp-up proceeding well and strong sales contributions expected in the second half of the year.
Bachem Holding AG (BCHMF) signed a strategic agreement with a partner for large-volume peptide supply at its Sislerfeld site, committing to a >500 million Swiss francs investment and securing a major anchor customer for future growth.
The company maintains a strong financial position with a 62% equity ratio, a low leverage ratio of 0.8x, and significant customer prepayments (455 million Swiss francs), providing ample financial flexibility for its expansion plans.
The peptide and oligonucleotide markets continue to show strong growth, driven by metabolic diseases (diabesity) and a robust pipeline, positioning Bachem Holding AG (BCHMF) well for long-term demand.

Negative

EBITDA margin diluted by 370 basis points to 25.4% in H1 2026, primarily due to increased costs in COGS from hiring, maintenance, and capacity optimization to support future growth.
Commercial API sales declined by nearly 20% in H1 2026, as the base business growth is expected to be heavily weighted to the second half of the year, creating an uneven revenue distribution.
The company refined its full-year sales growth guidance downward from 35-45% to 35-40%, reflecting a more conservative outlook based on detailed production scheduling and potential timing of product deliveries.
CapEx guidance for 2026 was reduced to 350-400 million Swiss francs due to a delay in the Sislerfeld project, indicating potential timing slippage in major expansion initiatives.
The strong Swiss franc continues to negatively impact reported results, with a 0.6 percentage point drag on EBITDA margin and an expected ~20 million Swiss francs top-line impact from currency effects.
The company faces an increasingly competitive landscape with new entrants like Samsung Biologics and consolidation (e.g., Novo Holdings' acquisition of Polypeptide), which could pressure pricing and market share.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BANB.S - BACHEM HOLDING AG
Half Year 2026 BACHEM HOLDING AG Earnings Call
Jul 30, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone. Welcome to our half year 2026 results call.

Joining us on the call are our CEO, Anne-Katrin Stoller, and our CFO, Anna Schafter.

My name is Barbara Blaha, responsible for investor relations, and I will walk you through the call.

Before we begin, a brief housekeeping note. There will be enough time for questions after the presentation.

And if you would like to ask a question, you can use the raise hand feature in Zoom during the Q&A.

And as always, this call is being recorded and the replay will be available on our web page.

A few words on the agenda.

Anne will start with an overview of our half year results 2026.

Ala will then

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