Half Year 2025 OC Oerlikon Corporation AG Pfaeffikon Earnings Call Transcript
Key Points
- OC Oerlikon Corp AG, Pfaffikon (OERLF) achieved stable orders year over year at constant FX, with a book-to-bill ratio over 1, indicating strong demand despite economic challenges.
- The company successfully launched new products, including a PVD equipment platform, thermal spray equipment, and a new CBD coating, showcasing its commitment to innovation.
- OC Oerlikon Corp AG, Pfaffikon (OERLF) is on track with its pure-play transformation, optimizing its portfolio towards higher profitability.
- The aviation sector showed positive trends with increased passenger growth and rising demand for maintenance, repair, and overhaul (MRO) activities, benefiting the company's solutions.
- The company is implementing structural cost measures expected to yield benefits in the second half of 2025 and beyond, enhancing operational efficiency.
- Group sales decreased by 3% at constant FX, driven by lower activity in the service business, particularly in automotive, luxury, and general industries.
- The operational EBITDA margin declined to 16.7% in H1 2025, impacted by difficult end markets, negative mix effects, and foreign exchange fluctuations.
- The significant appreciation of the Swiss franc against major currencies negatively affected financial results.
- Ongoing trade tensions and geopolitical uncertainties led to increased cautiousness among customers, impacting order and sales momentum.
- The company faced impairments totaling CHF46 million due to the optimization of its portfolio, including discontinued R&D activities in green hydrogen and battery development.
Good morning ladies and gentlemen, and welcome to the Oerlikon Q2 2025 result conference call and live webcast. I am Yusuf, the Chorus call operator.
I would like to remind you that all participants will be in listen-only mode and that this conference is being recorded. The presentation will be followed by a Q&A session. (Operator Instructions) The conference must not be recorded for publication or for broadcast. At this time, it is my pleasure to hand over to Aymeric Jamin, Head of Investor Relations. Please go ahead.
Good morning ladies and gentlemen, and welcome to Oerlikon's first half year results call. My name is Aymeric Jamin, Head of Investor Relations.
I have here with me Michael Seuss, our Executive Chairman, and Markus Richter, CFO of Oerlikon. Michael will start the presentation with a strategy update. Markus will then highlight our financial outlook. We will end with a Q&A.
With that, I would like to open our presentation and hand over to Michael. Michael, the floor is
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