CPH Group HY2024 Earnings: Resilience Amid Market Shifts

In 1HFY24, the CPH Group reported net sales of CHF 176.9 million, a 6.9% year-on-year decrease, or -5.0% when adjusted for currency and acquisition impacts. The Group’s EBITDA stood at CHF 30.2 million, down 9.6% YoY. EBIT came in at CHF 23.5 million with a margin of 13.3%, compared to 14.4% in 1HFY23. Net after-tax profit fell to CHF 21.1 million from CHF 31.9 million in the previous year. The recent spin-off of the Paper division and the entry into the Indian market were key developments for the Group.

The Chemistry division saw net sales rise by 7.7% to CHF 62.0 million, buoyed by strong demand for deuterated products and high-value molecular sieves. Divisional EBITDA increased by 10.0% to reach CHF 10.4 million, with a margin expansion to 16.7%. The acquisition of Sorbead India and Swambe Chemicals aided this growth.

In contrast, the Packaging division's net sales declined by 13.3% to CHF 114.9 million due to reduced order volumes. EBITDA fell by 15.2% YoY to CHF 20.4 million, while EBIT decreased by 17.3% to CHF 17.1 million.

Despite economic uncertainties, the CPH Group anticipates a mid-double-digit million EBITDA for FY24 and a positive net result for the year. The Group’s focus remains on leveraging growth opportunities in the chemistry and packaging segments.