Chemtech: results impacted by slowdown in customer investment activities
Note: Unless otherwise indicated, changes from the previous year are based on organic figures (adjusted for currency effects, acquisitions / divestitures and deconsolidations).
The Chemtech division faced a challenging market in the first half of 2025. Orders decreased by 20.3% (H1 2024: 8.3% increase) year-over-year, highly impacted by project postponements in H1 2025 caused by uncertainties in the global market conditions and overcapacity of refineries in Asia. This also impacted sales, which were down by 13.6% (H1 2024: 7.2% increase) due to backlog phasing and lower order intake leading to a decrease in book-to-bill ratio. Despite these headwinds, the Chemtech division achieved an EBITDA margin of 11.8% (H1 2024: 14.7%), mainly impacted by lower sales volumes. Efficient execution and cost discipline helped to contain profitability.
Enabling carbon reduction, supporting circularity and further optimizing performance for customers
In support of a carbon-neutral future, the Chemtech division is supplying product and service solutions specific to carbon capture for Net Zero Teesside Power, a world-scale mega project in Europe. The solution is based on the division’s market-leading MellapakCCTM structured packing, which will capture up to two million tonnes of CO2 annually for permanent storage offshore in the North Sea. The project represents one of the largest supplies of mass transfer equipment to date: 700 actual 40-foot containers filled with Chemtech’s proprietary product solutions – serving at the core of an efficient, safe and reliable CO2 capture process.
Chemtech continues to strengthen its leadership in sustainable materials and circular solutions with the inauguration of its new Biopolymer Engineering and scale-up Center in Töss, Switzerland. This state-of-the-art facility is dedicated to advancing biopolymer process and application development, engineering and recycling solutions – supporting customers in the rapidly growing markets for bioplastics, in renewable materials and in circular economy initiatives.
The division also continues to launch cutting-edge solutions for chemical separation processes, delivering measurable environmental and operational benefits. Chemtech has recently rolled out PyroCon™, a technology used to address plastic and biomass waste reduction by converting waste streams into valuable feedstocks, supporting circular economy goals and reducing landfill impact. In addition, Chemtech has commercialized OptimExtTM to offer enhanced process control and efficiency for purification and separation.
Key figures Chemtech (January 1 – June 30)
|
millions of CHF |
|
2025 |
|
2024 |
|
Change in +/–% |
|
+/–% adjusted 1) |
|
+/–% organic 2) |
|
Order intake |
|
411.3 |
|
529.4 |
|
–22.3 |
|
–20.3 |
|
–20.3 |
|
Order intake gross margin |
|
36.3% |
|
34.9% |
|
|
|
|
|
|
|
Order backlog as of June 30 / December 31 |
|
594.8 |
|
556.8 |
|
6.8 |
|
|
|
|
|
Sales |
|
329.5 |
|
394.5 |
|
–16.5 |
|
–13.6 |
|
–13.6 |
|
EBITDA |
|
38.8 |
|
57.8 |
|
–32.9 |
|
–27.2 |
|
–27.2 |
|
EBITDA margin |
|
11.8% |
|
14.7% |
|
|
|
|
|
|
|
EBIT |
|
27.9 |
|
47.8 |
|
–41.6 |
|
|
|
|
|
Employees (number of full-time equivalents) as of June 30 / December 31 |
|
2’922 |
|
2’934 |
|
–0.4 |
|
|
|
|
1) Adjusted for currency effects.
2) Adjusted for acquisition, divestiture / deconsolidation and currency effects.
Order intake impacted by macroeconomic uncertainties
Orders decreased by 20.3% in the first half of 2025 (H1 2024: 8.3% increase), driven by an ongoing slowdown in the Asia-Pacific region and fewer large orders compared with H1 2024. Despite the decrease in larger orders, strategic orders for biopolymers, carbon capture and sustainable aviation fuels were secured in H1 2025.
Order intake by market segment
H1 2025
Order intake by region
H1 2025
Lower sales impacting profitability
Sales in the first half of the year decreased by 13.6% (H1 2024: 7.2% increase) due to backlog phasing and lower order intake across all business units, particularly in the Asia-Pacific region. EBITDA decreased by 290 basis points as result of lower sales. Strong order execution and cost management efforts are in place.