Continuing to deliver on transformation and expanding adjusted EBITDA margin

Half-year Report 2025/26

Shareholder Letter

Further adjusted EBITDA margin expansion

Organic net sales growth

2.0%

Net sales CHF 1,362.7m

Adjusted EBITDA margin

15.6%

+40 bps

Adjusted operating cash flow margin

4.5%

–290 bps

Business Performance

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Business Performance

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PDF Half-year Report 2025/26

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