Five-year Overview
In thousands of CHF | 2025 | 2024 | 2023 | 2022 | 2021 |
| Net sales | 457,044 | 445,362 | 397,453 | 586,395 | 513,721 |
| Operating income | 24,556 | 35,861 | 24,978 | 98,975 | 84,085 |
| In % of net sales | 5,4% | 8,1% | 6,3% | 16,9% | 16,4% |
| EBITDA | 46,335 | 58,011 | 44,996 | 118,913 | 102,749 |
| In % of net sales | 10,1% | 13,0% | 11,3% | 20,3% | 20,0% |
| Net income | 12,208 | 32,779 | 15,388 | 78,109 | 67,437 |
| In % of net sales | 2,7% | 7,4% | 3,9% | 13,3% | 13,1% |
| Free cash flow1 | 8,502 | 41,414 | (584) | 42,173 | 57,767 |
| In % of net sales | 1,9% | 9,3% | (0,1%) | 7,2% | 11,2% |
| Total assets | 500,920 | 529,148 | 473,578 | 556,801 | 482,341 |
| Shareholders' equity | 308,769 | 323,098 | 296,092 | 331,532 | 274,981 |
| In % of total assets | 61,6% | 61,1% | 62,5% | 59,5% | 57,0% |
| Number of employees (year-end) | |||||
| Switzerland | 705 | 690 | 586 | 647 | 565 |
| International | 1,127 | 1,120 | 991 | 1,116 | 1,006 |
| Total | 1,832 | 1,810 | 1,577 | 1,763 | 1,571 |
1 Net cash provided by operating activities and net cash (used in) investing activities, as per consolidated statement of cash flows.
Segments 2025
In thousands of CHF | Plasma | X-Ray | Industrial | Elimination of | Corporate | Consolidated |
Net sales | ||||||
| External net sales | 257,102 | 110,804 | 89,137 | — | — | 457,044 |
| Intersegment sales | — | 12 | 9,941 | (9,953) | — | — |
Total net sales | 257,102 | 110,816 | 99,078 | (9,953) | — | 457,044 |
Segment operating income | 27,807 | (11,646) | 10,722 | 263 | — | 27,146 |
| Unallocated costs | — | — | — | — | (2,590) | (2,590) |
Operating income | 27,807 | (11,646) | 10,722 | 263 | (2,590) | 24,556 |
| lnterest income | 2,321 | |||||
| lnterest (expenses) | (1,986) | |||||
| Other financial expenses | (325) | |||||
| Net losses on derivative fair value | 1,326 | |||||
| Net gains on foreign exchange | (5,538) | |||||
Income before tax | 20,354 | |||||
| lncome tax | (8,146) | |||||
Net income | 12,208 | |||||
EBITDA | 40,407 | (7,516) | 15,771 | 263 | (2,590) | 46,335 |
| EBITDA in % of net sales | 15,7% | (6,8%) | 15,9% | 10,1% | ||
Assets and liabilities at Dec. 31, 2025 | ||||||
| Segment assets | 199,557 | 86,813 | 94,656 | — | 119,895 | 500,920 |
| Segment liabilities | (65,394) | (42,262) | (20,017) | — | (64,478) | (192,151) |
Net assets | 134,163 | 44,551 | 74,639 | — | 55,418 | 308,769 |
Other segment information | ||||||
| Additions to right-of-use asset | 992 | 877 | 260 | — | — | 2,130 |
| Additions to property, plant and equipment & intangible assets | 35,284 | 35 | 7,196 | — | — | 42,515 |
| Depreciation, amortization and impairment | (12,600) | (4,131) | (5,049) | — | — | (21,779) |
| Change in provisions | (46) | 55 | 157 | (91) | — | 75 |
| Other non-cash expense or (income) | 291 | 508 | 458 | 68 | (2,346) | (1,022) |
Segments 2024 restated1
In thousands of CHF | Plasma | X-Ray | Industrial | Elimination of | Corporate | Consolidated |
Net sales | ||||||
| External net sales | 247,391 | 115,836 | 82,135 | — | — | 445,362 |
| Intersegment sales | — | 52 | 12,436 | (12,488) | — | — |
Total net sales | 247,391 | 115,888 | 94,571 | (12,488) | — | 445,362 |
Segment operating income restated | 37,856 | (8,854) | 9,474 | (138) | — | 38,338 |
| Unallocated costs | — | — | — | — | (2,478) | (2,478) |
Operating income restated | 37,856 | (8,854) | 9,474 | (138) | (2,478) | 35,861 |
| lnterest income | 2,587 | |||||
| lnterest (expenses) | (2,084) | |||||
| Other financial expenses | (258) | |||||
| Net losses on derivative fair value | (1,412) | |||||
| Net gains on foreign exchange | 3,173 | |||||
Income before tax restated | 37,867 | |||||
| Income tax restated | (5,087) | |||||
Net income restated | 32,779 | |||||
EBITDA restated | 50,365 | (4,306) | 14,567 | (138) | (2,478) | 58,011 |
| EBITDA in % of net sales restated | 20,4% | (3.7%) | 15,4% | 13,0% | ||
Assets and liabilities at Dec. 31, 2024 | ||||||
| Segment assets restated | 198,431 | 98,958 | 92,220 | — | 139,539 | 529,148 |
| Segment liabilities restated | (66,275) | (48,355) | (21,830) | — | (69,591) | (206,050) |
Net assets restated | 132,156 | 50,604 | 70,390 | — | 69,948 | 323,098 |
Other segment information | ||||||
| Additions to right-of-use asset | 4,630 | 2,311 | 1,544 | — | — | 8,484 |
| Additions to property, plant and equipment & intangible assets | 6,502 | 2,475 | 3,803 | — | — | 12,779 |
| Depreciation, amortization and impairment | 12,510 | 4,548 | 5,093 | — | — | 22,150 |
| Change in provisions restated | (351) | 45 | (42) | — | — | (348) |
| Other non-cash expense or (income) | (1,724) | (26) | 400 | (28) | 511 | (867) |
1 Further explanations on the restatement are set out in note 2.3, “Restatement” of the Annual Report.
Segments 2023
In thousands of CHF | Plasma | X-Ray | Industrial | Elimination | Corporate | Consolidated |
Net sales | ||||||
| External net sales | 193,155 | 116,826 | 87,472 | — | — | 397,453 |
| Intersegment sales | — | 134 | 12,787 | (12,921) | — | — |
Total net sales | 193,155 | 116,961 | 100,258 | (12,921) | — | 397,453 |
Segment operating income | 7,192 | 671 | 19,580 | 761 | — | 28,204 |
| Unallocated costs | — | — | — | — | (3,226) | (3,226) |
Operating income | 7,192 | 671 | 19,580 | 761 | (3,226) | 24,978 |
| lnterest income | — | — | — | — | — | 1,632 |
| lnterest (expenses) | — | — | — | — | — | (2,214) |
| Other financial expenses | — | — | — | — | — | (178) |
| Net gains on derivative fair value | — | — | — | — | — | 1,791 |
| Net losses on foreign exchange | — | — | — | — | — | (7,014) |
Income before tax | — | — | — | — | — | 18,994 |
| lncome tax | — | — | — | — | — | (3,606) |
Net income | — | — | — | — | — | 15,388 |
EBITDA | 18,719 | 4,923 | 23,819 | 761 | (3,226) | 44,996 |
| EBITDA in % of net sales | 9,7% | 4,2% | 23,8% | 11,3% | ||
Assets and liabilities at Dec. 31, 2023 | ||||||
| Segment assets | 181,421 | 95,340 | 88,105 | — | 108,713 | 473,578 |
| Segment liabilities | (52,386) | (44,018) | (14,854) | — | (66,228) | (177,486) |
Net assets | 129,035 | 51,321 | 73,252 | — | 42,484 | 296,092 |
Other segment information | ||||||
| Additions to right-of-use asset | 4,044 | 1,010 | 164 | — | — | 5,217 |
| Additions to property, plant and equipment & intangible assets | 19,224 | 3,282 | 3,907 | — | — | 26,413 |
| Depreciation, amortization and impairment | 11,527 | 4,252 | 4,239 | — | — | 20,018 |
| Change in provisions | (443) | (894) | 172 | — | — | (1,165) |
| Other non-cash expense or (income) | (74) | 463 | (44) | 104 | 1,945 | 2,394 |
| Number of employees at year-end | 787 | 463 | 327 | — | — | 1,577 |
Segments 2022
In thousands of CHF | Plasma | X-Ray | Industrial | Elimination | Corporate | Consolidated |
Net sales | ||||||
| External net sales | 381,424 | 129,944 | 75,026 | — | — | 586,395 |
| Intersegment sales | — | 407 | 13,616 | (14,023) | — | — |
Total net sales | 381,424 | 130,351 | 88,643 | (14,023) | — | 586,395 |
Segment operating income | 94,497 | (3,104) | 10,868 | (1,227) | — | 101,033 |
| Unallocated costs | — | — | — | — | (2,059) | (2,059) |
Operating income | 94,497 | (3,104) | 10,868 | (1,227) | (2,059) | 98,975 |
| lnterest income | — | — | — | — | — | 440 |
| lnterest (expenses) | — | — | — | — | — | (1,715) |
| Net gains or (losses) on derivative fair value | — | — | — | — | — | (192) |
| Net gains or (losses) on foreign exchange | — | — | — | — | — | (2,140) |
Income before tax | — | — | — | — | — | 95,368 |
| lncome tax | — | — | — | — | — | (17,259) |
Net income | — | — | — | — | — | 78,109 |
EBITDA | 104,915 | 1,607 | 15,677 | (1,227) | (2,059) | 118,913 |
| EBITDA in % of net sales | 27.5% | 1.2% | 17.7% | 20.3% | ||
Assets and liabilities at Dec. 31, 2022 | ||||||
| Segment assets | 216,730 | 103,496 | 88,108 | — | 148.467 | 556,801 |
| Segment liabilities | (75,364) | (53,689) | (17,222) | — | (78,994) | (225,269) |
Net assets | 141,365 | 49,807 | 70,886 | — | 69,473 | 331,532 |
Other segment information | ||||||
| Additions to right-of-use asset | 20,714 | 1,558 | 239 | — | — | 22,511 |
| Additions to property, plant and equipment & intangible assets | 16,958 | 2,384 | 3,412 | — | — | 22,753 |
| Depreciation, amortization and impairment | 10,419 | 4,711 | 4,809 | — | — | 19,939 |
| Change in provisions | (318) | 1,509 | (166) | — | — | 1,026 |
| Other non-cash expense or (income) | (345) | 93 | 4 | 58 | 24 | (166) |
| Number of employees at year-end | 998 | 430 | 335 | — | — | 1,763 |
Segments
2021
In thousands of CHF | Plasma Control Technologies (PCT) | X-Ray Systems (IXS) | Industrial X-Ray Modules (IXM) | ebeam Technologies (EBT) | Elimination of intersegment sales | Corporate | Consolidated |
Net sales | |||||||
| External net sales | 306’091 | 138’371 | 69’259 | — | — | — | 513’721 |
| Intersegment sales | — | 535 | 9’687 | — | -10’222 | — | — |
| Total net sales | 306’091 | 138’906 | 78’946 | — | -10’222 | — | 513’721 |
Earnings | |||||||
| Segment operating income | 71’864 | 3’634 | 10’548 | — | 294 | — | 86’340 |
| Unallocated costs | — | — | — | — | — | -2’255 | -2’255 |
Operating income | 71’864 | 3’634 | 10’548 | — | 294 | -2’255 | 84’085 |
| Financing expenses | -5’106 | ||||||
| Financing income | 3’229 | ||||||
| Income before tax | 82’208 | ||||||
| Income tax | -14’771 | ||||||
Net income | 67’437 | ||||||
EBITDA | 80’487 | 8’931 | 15’292 | — | 294 | -2’255 | 102’749 |
| EBITDA in % of net sales | 26.3% | 6.4% | 19.4% | 20.0% | |||
Assets and liabilities at Dec. 31, 2021 | |||||||
| Segment assets | 153’907 | 116’142 | 85’470 | — | — | 134’897 | 490’415 |
| Segment liabilities | -50’890 | -75’497 | -20’290 | — | — | -68’757 | -215’435 |
Net assets | 103’017 | 40’645 | 65’180 | — | — | 66’140 | 274’981 |
Other segment information | |||||||
| Expenditure for right-of-use asset | 1’165 | 861 | 1’597 | — | — | — | 3’623 |
| Expenditure for property, plant and equipment & intangible assets | 6’586 | 1’870 | 3’011 | — | — | — | 11’467 |
| Depreciation, amortization and impairment | 8’622 | 5’297 | 4’744 | — | — | — | 18’663 |
| Change in provisions | 262 | -1’887 | 77 | — | — | — | -1’549 |
| Other non-cash expense/(income) | -203 | -293 | -47 | — | 24 | 400 | -119 |
| Number of employees at year end | 826 | 435 | 310 | — | — | — | 1’571 |