Biel/Bienne, 28.08.2026 – We have published our Half-year Report 2026. In the first six months of the year, consolidated net sales held steady while industrial profitability improved sharply, confirming the progress of our diversification and integration strategy.
Solid operational progress
Consolidated net sales reached mCHF 122.5 in the first half of 2026, in line with the same period in 2025 (+0.1%). Adjusted for the 2025 closure of our subsidiaries in France and Spain, this represents organic growth of +1.8%. Sales excluding precious metal transactions amounted to mCHF 62.6 (-1.6%).
Industrial EBITDA rose to mCHF 11.2, an increase of 137% compared with the first half of 2025, driven by lower personnel expenses and by gains in productivity and efficiency as the integration of the group companies takes effect. Net profitability improved year on year, and the balance sheet remained solid.
Momentum across our markets
Our diversification strategy continued to gain ground. Advanced industries grew by 57.2% to mCHF 8.3, supported by strong demand in electronics, semiconductors and connectivity, and by sustained investment in artificial intelligence, data centers, aerospace and defense.
In MedTech, sales were broadly stable at mCHF 14.7 (-1.9%), with our focus staying on dental, hearing implants and minimally invasive cardiovascular applications. During the period, we began producing in line with ISO 13485 at our three largest sites and further extended our vertically integrated offering.
In Luxury & Watchmaking, sales reached mCHF 36.3 (-4.3%) in a market that is stabilizing. At EPHJ in Geneva, we presented CMSA Pt-Nova 955, a stampable platinum alloy engineered for watch rotors and dials.
Building an integrated group
The first half of the year confirmed the momentum behind our transformation. Under the unified CMSA identity and a fully reworked website, we broadened the range of services offered to our customers and strengthened collaboration between our production sites. We implemented the group-wide SAP S4/HANA ERP system at our Saignelégier site and began rolling out a Group Quality Management System. At the end of June, we completed the purchase of the “NEODE” property in La Chaux-de-Fonds, where we will consolidate our local operations over the next three years.
Outlook
Based on the solid industrial performance achieved in the first six months, we remain confident in our full-year revenue forecast. We expect demand to remain broadly stable in the second half of the year and will continue to focus on operational excellence, cash generation and margin protection.
Half-year report
Read the full report
The document is available to download on the link below
Share
