Business Review

Increased profitability in challenging market environment

Difficult economic conditions with no market recovery persisted throughout 2025. Despite this backdrop, Bystronic achieved a higher order intake over prior year as well as operational improvements, driven by restructuring and reorganization measures completed in 2025. These actions enhanced operational efficiency, optimized Bystronicʼs product portfolio, and strengthened the companyʼs ability to respond to evolving market realities.

Order intake and sales development

In a challenging market environment, Bystronic recorded order intake of CHF 634.5 million in 2025, an increase of 1.5% compared to prior year and 5.0% at constant exchange rates.

Order intake was driven by a strong performance in Tube and Bending, as well as Automation solutions, which continue to serve as a key driver for the industry. In the Tube business, order intake increased from new markets such as data centers, while the launch of the ByTube Star 330 further strengthened Bystronicʼs reputation in tube laser processing. Bending systems saw growing demand for fully automated bending cells, which Bystronic met through operational improvements at its Gotha, Germany, facility.

As expected, net sales amounted to CHF 613.2 million, down CHF 35.1 million (–5.4% compared to prior year; –2.2% at constant exchange rates), primarily due to lower order intake in the previous year.

Regions

In the fourth quarter, we saw a slight recovery in EMEA, driven primarily by stronger performance in Spain and Italy. The DACH region also recorded solid order intake, particularly in automation and smart factory solutions. Overall, EMEA began to regain momentum, supported by rising customer demand for automation solutions.

The Americas region remained stable, with improved performance in Mexico and Canada. The U.S. market continued at a solid level, and by year-end, the tariff situation had largely stabilized. Despite continued softness in the agricultural segment and ongoing tariff headwinds, we advanced the ramp-up of our facility in Hoffman Estates, USA. We are now better positioned to mitigate tariff impacts by direct customer deliveries out of the USA.

China delivered positive development during the period. DNE Laser, our second brand serving the entry-level segment, achieved higher order intake driven by the successful implementation of our dual-brand strategy, the expansion of our global dealer network, and our state-of-the-art manufacturing facility in Foshan, China. This facility enables more efficient, scalable production and faster delivery to customers worldwide.

The APAC region outside China remains challenging, with no clear signs of recovery yet.

Operating result (EBIT)

Bystronic reported an operating result (EBIT) of CHF –19.8 million in 2025 (2024: CHF –84.0 million, adjusted EBIT before restructuring and impairments of CHF –47.4 million), reflecting the positive effects of the significantly improved total operating costs. The Group closed the year with a net result of CHF –28.9 million (2024: CHF –67.6 million).

The significant improvement in total operating costs in 2025 is attributed to the restructuring and reorganization measures initiated in 2024. These included a leaner management structure and the adjustment of production capacities. By eliminating management layers and consolidating operations, Bystronic increased operational efficiency, enabled faster decision making, and gained better visibility into profitability and customer needs.

Bystronic Rofin – expanding into attractive growth markets

In 2025, we initiated the process to acquire the Tools for Materials Processing business unit from Coherent Corp., a transaction that was successfully completed in January 2026, establishing the new Bystronic Rofin business unit. Strategically, Rofin expands our technology portfolio with advanced laser applications and opens access to high potential growth markets in medical devices and semiconductors. The acquisition strengthens Bystronicʼs position as a full solutions partner, accelerates innovation, and diversifies our business to increase resilience across market cycles.

Net result, cash flow and dividends

The net result was CHF –28.9 million (2024: CHF –67.6 million). Earnings per class A registered share were CHF –14.00.

Operating free cash flow was CHF –18.8 million, reflecting the operating loss, disciplined working capital management, and cash outflows related to restructuring. In 2024, operating free cash flow was positively impacted by a reduction in net working capital, following a decline in net sales versus the prior year. Cash and cash equivalents and securities were CHF 330.7 million as of December 31, 2025.

The Board of Directors is proposing for the April 21, 2026, Annual General Meeting the distribution of a dividend of CHF 4.00 per class A registered share and CHF 0.80 per class B registered share. In total, CHF 8.3 million will be distributed to shareholders. The proposal reflects the continued solid liquidity situation of the Group, despite the loss, and is in accordance with the dividend policy.

Outlook

Bystronic does not expect a significant improvement in the overall market environment in 2026 but anticipates continued positive momentum from its sheet metal portfolio and the new Bystronic Rofin business. In 2025, that business generated net sales of around CHF 80 million and will be fully consolidated into Bystronic as of February 2026.

For 2026, Bystronic expects to return to net sales growth, supported by a higher backlog in the sheet metal business, and additional contributions from Bystronic Rofin. Combined with significantly improved overall operating costs, the company is taking the next step toward profitability.