Financial Report
Alternative performance measures
In this Six-month Report, Zehnder Group reports financial key figures that are not defined according to Swiss GAAP FER. These alternative performance measures are intended to aid the management team as well as analysts and investors in forming a clearer understanding of the Group’s performance.
In 2026, one-off costs amounting to EUR 5.5 million were recognised in connection with the introduction of a divisional organisation in Europe. In the first half-year of 2025, no one-off effects have been recognised.
The following definitions and calculation bases of Zehnder Group may differ from those employed by other companies.
Alternative performance measure | Definition | Calculation basis/reconciliation (in EUR million) | 1st half-year 2026 | 1st half-year 2025 |
Organic sales growth | The organic sales growth measures the growth that the Group is able to achieve on its own. Organic sales equate to sales that have been adjusted for acquisition effects and have taken place at constant exchange rates. | Sales | 394.9 | 382.8 |
Currency effects | 4.2 | - | ||
Acquisition effects | - | –12.5 | ||
Organic sales | 399.1 | 370.3 | ||
Organic sales growth in % | 4.3 | 7.6 | ||
EBITDA | Earnings before interest, taxes, depreciation and amortisation (EBITDA) is a key figure used to measure the performance of the Group. | Operating result (EBIT) | 32.2 | 32.7 |
Depreciation and impairment of property, plant and equipment | 11.1 | 11.2 | ||
Amortisation and impairment of intangible assets | 1.0 | 1.0 | ||
EBITDA | 44.3 | 44.9 | ||
EBITDA adjusted | Earnings before interest, taxes, depreciation and amortisation (EBITDA) adjusted for significant exceptional one-off effects. | Operating result (EBIT) | 32.2 | 32.7 |
Depreciation and impairment of property, plant and equipment | 11.1 | 11.2 | ||
Amortisation and impairment of intangible assets | 1.0 | 1.0 | ||
One-off effects (excluding impairments) | 5.5 | - | ||
EBITDA adjusted | 49.8 | 44.9 | ||
EBIT adjusted | Earnings before interest and taxes (EBIT) adjusted for significant exceptional one-off effects. | Operating result (EBIT) | 32.2 | 32.7 |
One-off effects | 5.5 | - | ||
EBIT adjusted | 37.7 | 32.7 | ||
Net liquidity/(net debt) | Net liquidity or net debt is a key figure used to measure the Group’s financial liquidity or debt. | Liquid assets | 43.5 | 44.8 |
Short-term financial liabilities | –8.5 | –4.4 | ||
Long-term financial liabilities | –23.1 | –53.0 | ||
Net liquidity/(net debt) | 11.9 | –12.6 |