05.09.2026
Unternehmen
In the first half of 2026, Oerlikon’s order intake increased 19 % compared to the first half 2025, to CHF 920M and sales increased 6.7 % to CHF 790M , 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 156M, 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 328M, including the gain from the Barmag divestment. In addition, Oerlikon successfully continued its deleveraging path, achieving a net debt/operational EBITDA ratio of 2.5× 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 organised into three segments: coating services, materials & wquipment and components.
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.
(Source: Oerlikon)
Schlagworte
Additive ManufacturingAerospaceAviationCoatingDefenceDefenseEnergyMaterialsPower GenerationSimiconductorsSurface TreatmentSurfacingThermal Spray BulletinTSB
