Services: strong profitable growth
Note: Unless otherwise indicated, changes from the previous year are based on organic figures (adjusted for currency effects, acquisitions / divestitures and deconsolidations).
Continuing its strong growth momentum, the Services division delivered for the third consecutive year double-digit growth in both order intake and sales for the first half of the year. Order intake increased by 12.0% (H1 2024: 12.6%) compared with H1 2024 and sales recorded a growth of 14.8% (H1 2024: 12.0%), profiting from the high opening backlog. The EBITDA margin improved to 16.7% (H1 2024: 16.4%) supported by the execution of excellence initiatives.
Powering growth and reliability for global industry
In the first half of 2025, the Services division continued to deliver on its mission to ensure the reliable operation of critical industrial assets worldwide. Growth across all product lines and all regions was underpinned by an expanding global-local service footprint and long-term partnerships with customers.
Key wins across regions exemplified this momentum. In South Africa, Sulzer secured a contract with Eskom to overhaul five open-cycle gas turbines over the next five years—reinforcing its position as a trusted partner for critical infrastructure services. The project will be executed through a combination of Sulzer’s local expertise and the specialized capabilities of its Gas Turbine Center of Excellence in the Netherlands. In the Middle East, Sulzer was awarded three five-year contracts by QatarEnergy for rotating equipment services and repairs across its Mesaieed, Dukhan and offshore operations. The scope includes site and workshop services for over 70 critical assets—pumps, compressors and blowers—further strengthening Sulzer’s role as a trusted in-country service partner for essential oil and gas operations.
As part of its strategy to better serve customers locally, Sulzer continued to increase its in-region capabilities in Latin America and in the Middle East. In Argentina, a 2,600 m² rotating equipment service center was opened in Ezeiza, complementing existing facilities and supporting industries across Argentina and the broader region. Meanwhile in the Middle East, Sulzer acquired Davies and Mills, a Bahrain-based electromechanical services provider. This move expands Sulzer’s offering, while increasing its presence across Bahrain and Saudi Arabia—marking its sixth service location established in the region in six years.
Leveraging its expanded network, technical expertise and comprehensive portfolio, the division remains well-positioned to support its customers’ decarbonization efforts and operational resilience while driving sustainable growth across all product lines and regions.
Key figures Services (January 1 – June 30)
|
millions of CHF |
|
2025 |
|
2024 |
|
Change in +/–% |
|
+/–% adjusted 1) |
|
+/–% organic 2) |
|
Order intake |
|
757.2 |
|
701.4 |
|
8.0 |
|
12.7 |
|
12.0 |
|
Order intake gross margin |
|
39.2% |
|
38.6% |
|
|
|
|
|
|
|
Order backlog as of June 30 / December 31 |
|
726.7 |
|
689.7 |
|
5.4 |
|
|
|
|
|
Sales |
|
657.1 |
|
592.6 |
|
10.9 |
|
15.7 |
|
14.8 |
|
EBITDA |
|
109.6 |
|
97.0 |
|
12.9 |
|
20.4 |
|
19.1 |
|
EBITDA margin |
|
16.7% |
|
16.4% |
|
|
|
|
|
|
|
EBIT |
|
92.4 |
|
76.7 |
|
20.4 |
|
|
|
|
|
Employees (number of full-time equivalents) as of June 30 / December 31 |
|
4’789 |
|
4’832 |
|
–0.9 |
|
|
|
|
1) Adjusted for currency effects.
2) Adjusted for acquisition, divestiture / deconsolidation and currency effects.
Strong order intake growth
Order Intake increased by 12.0% (H1 2024: 12.6%) mainly driven by Europe, the Middle East and Africa (25.0%) and the Americas (7.9%) in higher demand for energy security. Asia-Pacific was lower (-8.7%) in the first half of 2025 compared with H1 2024.
Order intake by market segment
H1 2025
Order intake by region
H1 2025
Improved sales and profitability
Sales grew by 14.8% (H1 2024: 12.0%) compared with H1 2024, with all regions contributing with double-digit growth. EBITDA margin increased by 30 basis points driven by increased sales volumes and the execution of "Sulzer Excellence."