Interroll Holding AG on Thursday validated its preliminary results for the second half of 2025, identifying a clear recovery in incoming orders that the company attributes chiefly to renewed investment tied to e-commerce activity.
The Swiss automation and material-handling specialist recorded CHF261.2 million in orders for the second half of 2025, up 12.1% from the comparable period. That brought total orders for the full year to CHF545.3 million. Interroll reported a second-half book-to-bill ratio of 0.98.
Despite the uptick in orders, the company’s second-half revenue fell 4.7% year-over-year to CHF266.5 million. Operating profit before interest and taxes (EBIT) declined 7.8% to CHF44.2 million, while net profit for the period dropped 10.1% to CHF34.7 million.
The year-on-year revenue contraction reflected a sharp reduction in pallet handling solutions, which sank 47.0%, and a more modest decrease in conveyors and sorters of 2.6%. These declines were partially offset by gains in other product areas: rollers expanded 13.4% and drives edged up 0.3%.
Order momentum in the latter half of 2025 stemmed primarily from the rollers segment and from conveyors and sorters, with those improvements only partly offset by weaker demand for drives and pallet handling systems.
Profitability in the second half was supported by a recovery in the product business, which delivered an EBIT margin of 16.6% compared with 17.1% in the second half of 2024.
Free cash flow for the second half amounted to CHF23.2 million, down from CHF66.3 million a year earlier. The company said this decline reflected a normalization of working capital after releases in previous years; this effect was partially offset by lower capital expenditure.
Looking ahead to 2026, Interroll said that signs of market stabilization expanded over the course of 2025 and that demand in the project business has been increasing, offering a more constructive backdrop for the year ahead.
Summary
Interroll confirmed preliminary H2 2025 results showing a notable increase in orders led by e-commerce-related investments, while revenue, EBIT and net profit declined. The company pointed to broader market stabilization and rising project business demand as it moves into 2026.
Key points
- Orders in H2 2025 rose 12.1% to CHF261.2 million, with full-year orders at CHF545.3 million and a H2 book-to-bill of 0.98.
- Second-half revenue fell 4.7% to CHF266.5 million; EBIT was CHF44.2 million and net profit CHF34.7 million, down 7.8% and 10.1% respectively.
- Product performance was mixed: pallet handling declined 47.0% and conveyors and sorters fell 2.6%, while rollers grew 13.4% and drives rose 0.3%.
Risks and uncertainties
- Persistent weakness in pallet handling demand could continue to pressure revenue and margins in segments tied to that product group - relevant to companies serving warehousing and bulk handling markets.
- Normalization of working capital reduced free cash flow in H2, indicating potential variability in cash generation going forward for capital-intensive or order-driven businesses.
- Although orders recovered, the book-to-bill below 1.0 signals that revenue conversion and backlog dynamics remain sensitive to timing and mix shifts across product groups.
Tags: automation, logistics, industrials, e-commerce