Oerlikon, headquartered in Pfäffikon, Switzerland, has reported its full-year 2025 results, highlighting its order intake grew by 6.5% year over year, at constant FX.

Organic sales were reported flat (-0.3%) at constant FX, supported by aviation and energy counteracting headwinds in automotive, tooling, general industries and luxury. The strategy to diversify surface-treatment technologies, end markets and regions reportedly continues to support the group’s resilience amid a weak economic environment, particularly in Europe, along with persistent geopolitical uncertainties and trade tensions.

Operational EBITDA was CHF 271 million (2024: CHF 304 million), or 17.3% of sales (2024: 18.5%). The margin was affected by negative mix effects, especially lower service business and FX headwind from the strengthening of the Swiss franc.

Oerlikon reported a net result of CHF -14 million (from continuing operations: CHF -51 million). The decline compared to the prior year was driven

Barmag divesture

The 2025 reported net result does not include the financial impact of the Barmag divestment, which closed on February 2, 2026. This resulted in a net book gain of CHF 287 million to be recognised in 2026.

Michael Suess, Executive Chairman of Oerlikon, stated, “With the closing of the Barmag divestment, we completed Oerlikon’s pure‑play transformation into a global leader in surface technologies and advanced materials. In 2025, we continued to execute with discipline in a weak economic environment, maintaining our focus on innovation, pricing and further improving our structural cost base. Our positive order momentum indicates the resilience of our diversified portfolio. This positions Oerlikon to emerge stronger once our end markets recover.”

Surface technologies provider

Following the successful divestiture of its subsidiary Barmag, Oerlikon completed its transformation from industrial conglomerate into a surface technologies provider, a process that began over the last decade. The company combines a broad technology portfolio with a fully integrated business model, comprising materials and coatings, equipment and service centres in 38 countries. The company is using this setup to bring its solutions into new industries and expand geographically, especially in Asia and the Americas. The divestment proceeds will be used to repay debt, for general corporate purposes and distribution to shareholders. This is intended to strengthen the company’s balance sheet and improve financial leverage.

2026 outlook

In 2026, the company expects geopolitical uncertainties and a subdued economic environment to continue weighing on global activity. However, Oerlikon states that it benefits from the resilience of its diversified business model. The company expects organic sales at constant FX to increase by a low single-digit percentage. Innovation, pricing and efficiency are expected to support margin. As a result, Oerlikon expects an operational EBITDA margin of ~17.5%.