Flow: strong sales growth
Note: Unless otherwise indicated, changes from the previous year are based on organic figures (adjusted for currency effects, acquisitions / divestitures and deconsolidations).
In the first half of 2025, order intake for the Flow division decreased by 3.1% (H1 2024: 6.3% increase). Order intake in the Water and Industrial business unit grew by 5.0% compared with H1 2024, whereas the Energy and Infrastructure business unit’s order intake decreased by 13.2% in the same period, primarily due to one exceptionally large order received in H1 2024. Sales increased by 10.3% (H1 2024: 11.2%) to CHF 757.3 million, supported by solid growth in both business units. EBITDA margin rose by 50 basis points year-on-year, reflecting volume contribution and a strong focus on "Sulzer Excellence."
Innovating for sustained value creation
The Flow division continues to reinforce its market-leading position through targeted bolt-on investments in its water, energy and industry portfolios.
In the Venice region, Sulzer will equip a state-of-the-art treatment plant with a pre-treatment and pioneering primary filtration stage including 10 of its latest belt filters. This solution combines pumps and treatment products and reduces the required footprint by 90% compared with conventional solutions – resulting in significant CAPEX savings while delivering exceptional treatment performance. Additions to Flow’s leading line of turbocompressors, wastewater pumps and advanced controls continue to bear fruit and form a portfolio of efficient water transport and treatment solutions that is unique in the industry.
In addition to executing its strong backlog of conventional energy projects, Flow continues to position itself for future growth opportunities and expand its footprint in energy transition and security technologies. Energy recovery turbines continue to meet strong interest, and new applications are being developed to help customers save operating costs. Earlier this year, Flow entered a new collaboration phase with Hyme, signing an agreement to optimize and commercialize large-scale molten salt-based energy storage systems. Sulzer is also experiencing renewed interest in Geothermal energy and launched research projects for ultra-deep geothermal technology in Germany.
Key figures Flow (January 1 – June 30)
|
millions of CHF |
|
2025 |
|
2024 |
|
Change in +/–% |
|
+/–% adjusted 1) |
|
+/–% organic 2) |
|
Order intake |
|
792.8 |
|
848.0 |
|
–6.5 |
|
–3.0 |
|
–3.1 |
|
Order intake gross margin |
|
33.5% |
|
30.1% |
|
|
|
|
|
|
|
Order backlog as of June 30 / December 31 |
|
1’006.0 |
|
1’053.5 |
|
–4.5 |
|
|
|
|
|
Sales |
|
757.3 |
|
712.1 |
|
6.3 |
|
10.4 |
|
10.3 |
|
EBITDA |
|
92.8 |
|
83.4 |
|
11.2 |
|
17.7 |
|
17.9 |
|
EBITDA margin |
|
12.2% |
|
11.7% |
|
|
|
|
|
|
|
EBIT |
|
64.9 |
|
56.4 |
|
15.0 |
|
|
|
|
|
Employees (number of full-time equivalents) as of June 30 / December 31 |
|
5’548 |
|
5’492 |
|
1.0 |
|
|
|
|
1) Adjusted for currency effects.
2) Adjusted for acquisition, divestiture / deconsolidation and currency effects.
Order intake
The Flow division’s overall order intake was impacted by one exceptionally large order booked in H1 2024 and resulted in a decrease of 3.1% (H1 2024: 6.3% increase). Order intake growth would have been positive without this impact.
Order intake by segment
H1 2025
Order intake by region
H1 2025
Sales and profitability
Sales increased by 10.3% (H1 2024: 11.2%) across all business units, with double-digit growth in Energy and Infrastructure. EBITDA margin increased by 50 basis points year-on-year to 12.2% (H1 2024: 11.7%), mainly driven by sales volume increase and cost management.