Skan swings to CHF 8.3 mln loss as sales fall on vaccine project delays

Investing.com -- Skan Group posted a net loss of CHF 8.3 million in the first half of 2025, compared with a profit of CHF 14.7 million a year earlier, as project delays in vaccine-related lines reduced sales, the Swiss company reported on Tuesday.

Net sales dropped 17.8% to CHF 134.6 million from CHF 163.7 million. EBITDA fell 95.7% to CHF 0.9 million from CHF 21.5 million, and EBIT fell to a loss of CHF 4.9 million from a profit of CHF 15.2 million. 

Earnings per share fell to a negative CHF 0.40 from CHF 0.61, while return on capital employed declined to a negative 2.3% from 7.9% a year earlier.

Order intake increased 20.2% to CHF 213 million, while the order backlog rose 21.4% to a record CHF 386.4 million. 

In segments, Equipment & Solutions order intake grew 28.4% to CHF 160.4 million, but sales fell 24.5% to CHF 90.7 million, with EBITDA was a negative CHF 9.1 million, compared with CHF 8.9 million a year earlier. 

Services & Consumables order intake was CHF 52.5 million, little changed from CHF 52.3 million, while sales rose 0.6% to CHF 43.9 million and EBITDA fell 20.6% to CHF 10 million.

By region, Europe recorded CHF 70.9 million in sales, down from CHF 88.8 million. The Americas fell 29.1% to CHF 44.7 million. 

Asia rose 52.1% to CHF 16.6 million, while other regions more than doubled to CHF 2.4 million.

Cash and cash equivalents were CHF 52.9 million at June 30, compared with CHF 53.7 million at the end of 2024. Net working capital fell to a negative CHF 25.3 million from CHF 8.2 million. 

Equity decreased 9.4% to CHF 183.4 million, reducing the equity ratio to 48.1% from 52.7%. 

Operating cash flow improved to CHF 22.6 million from CHF 0.7 million. Free cash flow reached CHF 9.2 million, compared with CHF -29.5 million. 

Investments in property, plant and equipment and intangible assets were CHF 21.5 million, down from CHF 22.2 million. Advance payments from customers increased to CHF 110.7 million from CHF 84.7 million.

Following the reporting period, SKAN acquired 76% of Slovenian software firm Metronik d.o.o. and 84% of France-based ABC Transfer SAS, both financed through bank loans. 

The cleanroom equipment maker maintained its 2025 guidance, aiming for mid-teens percentage sales growth and an EBITDA margin of 14% to 16%.