A 
14.20
-0.70%
Close of 9 Nov 2026, in CHF
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At a glance
Figures in CHF, from our data supplier.
Revenue
CHF 1.13bn
FY2016FY2025
Net income
−CHF 20.1m
FY2016FY2025
Free cash flow
CHF 4.9m
FY2016FY2025
Shareholders' equity
CHF 509.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 1.13bn | CHF 1.01bn | CHF 914.4m | CHF 1.03bn | CHF 823.3m | CHF 696.6m | CHF 697.2m | CHF 577.1m | CHF 582.5m | CHF 517.1m |
| Operating income | −CHF 51.1m | CHF 32.3m | −CHF 12.9m | CHF 61.7m | CHF 22.5m | −CHF 44.8m | CHF 177.9m | CHF 16.8m | CHF 36.6m | CHF 30.9m |
| Net income | −CHF 20.1m | −CHF 2.9m | −CHF 39.3m | CHF 58.8m | −CHF 4.3m | −CHF 31.8m | CHF 163.2m | −CHF 8.7m | −CHF 922,000 | CHF 2.3m |
| Diluted earnings per share | -0.24 | -0.03 | -0.47 | 0.65 | -0.05 | -0.40 | 2.03 | -0.11 | -0.01 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CHF 1.91bn | CHF 2.00bn | CHF 1.86bn | CHF 1.79bn | CHF 1.73bn | CHF 1.53bn | CHF 1.19bn | CHF 1.85bn | CHF 1.75bn | CHF 1.72bn |
| Cash and short-term investments | CHF 29.0m | CHF 36.9m | CHF 80.7m | CHF 75.4m | CHF 63.4m | CHF 65.6m | CHF 41.1m | CHF 34.4m | CHF 33.3m | CHF 25.0m |
| Total liabilities | CHF 1.35bn | CHF 1.42bn | CHF 1.32bn | CHF 1.28bn | CHF 1.14bn | CHF 1.11bn | CHF 746.7m | CHF 1.41bn | CHF 1.37bn | CHF 1.34bn |
| Debt | CHF 949.8m | CHF 1.07bn | CHF 1.01bn | CHF 970.0m | CHF 841.3m | CHF 841.7m | CHF 495.4m | CHF 1.08bn | CHF 1.05bn | CHF 1.03bn |
| Shareholders' equity | CHF 509.8m | CHF 530.9m | CHF 491.9m | CHF 469.3m | CHF 485.9m | CHF 361.2m | CHF 386.3m | CHF 324.2m | CHF 308.1m | CHF 310.7m |
| Shares outstanding | 84m | 84m | 84m | 90m | 83m | 80m | 80m | 80m | 80m | 81m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CHF 72.6m | CHF 46.5m | CHF 42.7m | CHF 114.3m | CHF 33.5m | CHF 23.8m | CHF 18.9m | CHF 16.4m | CHF 60.1m | CHF 55.6m |
| Capital spending | −CHF 67.7m | −CHF 65.3m | −CHF 108.7m | −CHF 74.0m | −CHF 57.6m | −CHF 307.2m | −CHF 99.4m | −CHF 90.8m | −CHF 55.2m | −CHF 45.9m |
| Free cash flow | CHF 4.9m | −CHF 18.8m | −CHF 66.1m | CHF 40.3m | −CHF 24.1m | −CHF 283.5m | −CHF 80.5m | −CHF 74.4m | CHF 4.9m | CHF 9.7m |
| Dividends paid | — | — | −CHF 63.2m | −CHF 84.4m | — | — | −CHF 73.8m | −CHF 8.4m | −CHF 8.3m | −CHF 8.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 639.1m | CHF 556.2m | CHF 535.9m | CHF 463.7m | CHF 463.1m | CHF 405.0m | CHF 468.3m | CHF 514.6m |
| Operating income | −CHF 17.3m | −CHF 53.5m | CHF 135.4m | −CHF 56.0m | CHF 121.0m | −CHF 41.8m | −CHF 18.3m | −CHF 36.3m |
| Net income | CHF 5.4m | −CHF 24.3m | CHF 4.2m | −CHF 2.1m | −CHF 793,000 | −CHF 28.5m | −CHF 10.8m | CHF 12.7m |
| Diluted earnings per share | 0.06 | -0.29 | 0.05 | -0.02 | -0.01 | -0.34 | -0.13 | 0.14 |
| Cash from operations | CHF 39.0m | CHF 50.0m | CHF 21.0m | CHF 49.0m | −CHF 3.0m | CHF 53.0m | −CHF 11.0m | CHF 84.0m |
| Capital spending | −CHF 46.0m | −CHF 20.0m | −CHF 16.0m | −CHF 16.0m | −CHF 17.0m | −CHF 63.0m | −CHF 33.0m | −CHF 39.0m |
| Free cash flow | −CHF 7.0m | CHF 30.0m | CHF 5.0m | CHF 33.0m | −CHF 20.0m | −CHF 10.0m | −CHF 44.0m | CHF 45.0m |
| Total assets | CHF 1.97bn | CHF 1.91bn | CHF 1.93bn | CHF 2.00bn | CHF 1.83bn | CHF 1.86bn | CHF 1.78bn | CHF 1.79bn |
| Cash and short-term investments | CHF 63.1m | CHF 29.0m | CHF 23.5m | CHF 36.9m | CHF 31.1m | CHF 80.7m | CHF 54.6m | CHF 75.4m |
| Debt | CHF 339.1m | CHF 925.2m | CHF 890.3m | CHF 1.07bn | CHF 999.9m | CHF 980.3m | CHF 1.01bn | CHF 970.0m |
| Shareholders' equity | CHF 509.4m | CHF 509.8m | CHF 537.3m | CHF 530.9m | CHF 488.9m | CHF 491.9m | CHF 459.1m | CHF 469.3m |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -4.5% | 2.5% | -1.4% | 6.0% | 2.6% | -3.1% |
| Net margin | -1.8% | -0.3% | -4.3% | 5.7% | -0.5% | -4.6% |
| Return on equity | -3.9% | -0.5% | -8.0% | 12.5% | -0.9% | -8.8% |
| Return on assets | -1.1% | -0.1% | -2.1% | 3.3% | -0.2% | -2.1% |
| Free cash flow yield | 11.6% | 9.3% | 12.6% | 14.6% | 7.6% | 28.9% |
| Revenue growth | 12.1% | 10.5% | -11.3% | 25.2% | 18.2% | -0.1% |
| Earnings growth | 600.1% | -92.7% | -166.8% | -1478.9% | -86.6% | -119.5% |
| Current ratio | 0.67x | 0.57x | 0.96x | 1.14x | 0.70x | 0.80x |
| Debt to equity | 1.81x | 1.97x | 2.02x | 2.04x | 1.70x | 2.28x |
| Equity ratio | 26.8% | 26.5% | 26.5% | 26.2% | 28.1% | 23.6% |
| Interest coverage | -1.46x | 0.64x | -0.33x | 2.43x | 1.00x | -1.15x |
| Buybacks as a share of market value | -0.4% | 0.3% | 6.3% | -7.9% | -4.0% | 0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.2% | 10.2% | 8.3% |
| Operating income | — | 2.7% | — |
| Net income | — | -8.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -0.9% | 0.7% | 0.1% | 3.5% |
| Net margin | -1.1% | -0.1% | -0.7% | 1.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -56.4 | -437.8 | -36.3 | 26.8 | -283.6 | -31.5 | 6.9 | -112.3 | -1007.2 | 449.7 |
| Price to sales | 1.0 | 1.2 | 1.6 | 1.5 | 1.5 | 1.4 | 1.6 | 1.7 | 1.6 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Sept 2023.
| FY2023 | FY2022 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.75 | 1.00 | 0.98 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 |
- 5-for-1 split · 7 Jun 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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