Bobst Group reached sales of CHF 1.622 bn in 2025, a decrease of CHF 269m, or -14.2%, compared to 2024 explained by Business Unit Printing & Converting.
The operating result (EBIT) was CHF 73m (CHF 142m 2024), while the net result was CHF 37m (CHF 82m 2024). 2026 will remain challenging, given the overall geopolitical and economic situation. The Group is currently expecting sales to be slightly lower than in 2025 and operating result (EBIT) to be similar as in 2025.
The Group started 2025 with a 33% lower machine backlog than the year before. Order entries for the Business Unit Printing & Converting were at the same level as previous year with different trends by industry, but lower than projections driven by geopolitical and tariff uncertainties. After several years with above average machine sales there is excess capacity in the markets and the consolidation of the major clients mainly in the corrugated industry led also to a lower than expected machine orders. December 2025 was especially strong but could not compensate the orders missing throughout the year. Orders for the Business Unit Services & Performance increased by 1% compared to 2024. The backlog for Business Unit Printing & Converting is around 15% lower than at the end of 2024 and back to the same level than pre-COVID.
Consolidated sales for the full year 2025 decreased by CHF 268.9m, or 14.2%, to CHF 1.622 bn. Adjusted for currency effects and acquisitions, organic sales reduced by CHF 219.1 million, or 11.6%. The unfavorable evolution of exchange rates had a negative effect on sales of CHF 49.8m, or 2.6%.
Sales reached CHF 954.9m in the second half of 2025 compared to CHF 667.4m in the first six months of the year.
Sales of Business Unit Printing & Converting decreased by 23.1% to CHF 938.6m. The decrease of consolidated sales was due to the lower machine backlog at the beginning of the year and lower order entries during first semester 2025. Sales decreased in all industries with the exception of flexible packaging with a slight increase.
Business Unit Services & Performance delivered sales of CHF 683.7m, up 2.0%, driven by retrofits and service, with parts broadly stable.
Business Unit Printing & Converting reached an operating result (EBIT) of CHF ‑25.6m compared to CHF 39.8m in 2024. Missing margin due to lower sales and market pressure due to weak demand were only partially compensated by cost-savings programs and ongoing operational improvements. The machine backlog for US clients had to be renegotiated and part of the newly introduced tariffs had to be borne by Business Unit Printing & Converting.
The net result decreased to CHF 36.6m, compared to CHF 81.8m in 2024. This reduction is mainly due to the decrease of EBIT partially compensated by a non-recurring loss in 2024 in other financial expenses linked with the sale of the participation in BHS and IVG. The income tax rate increased due to losses in entities, where no deferred tax assets are recognized in 2025, withholding taxes on dividend and an unfavorable profitability mix of the Group’s subsidiaries in the different countries.
