Sulzer (SUN) Q3 2025 TU earnings summary

Executive summary

• Year-to-date order intake declined by 1.2%, showing improvement from H1 2025's -2.4%.

• Positive momentum in order intake, with some large projects postponed to 2026.

Financial highlights

• Total order intake for Jan–Sep 2025 was CHF 2,777 million, down from CHF 2,934 million year-over-year.

• Services division order intake grew 13.2% year-over-year, reaching CHF 1,106 million.

• Flow division order intake decreased by 2.3% year-over-year to CHF 1,139 million.

• Chemtech division order intake dropped 20.3% year-over-year to CHF 533 million.

Outlook and guidance

• Full-year guidance confirmed: organic order intake growth of 2% to 5% and sales growth of 5% to 8%.

• EBITDA margin expected to exceed 15% of sales.