Media information 2026

 

• Revenue from sale of goods increases by 4.9% to CHF 136.9 million (CHF 130.5 million in 2024/25)
• Bookings increase to CHF 138.3 million (CHF 108.0 million in 2024/25; +28.1%)
• Gross margin slightly declines to 53.7% (54.7 % in 2024/25)
• EBIT decrease to CHF 4.3 million (CHF 6.7 million in 2024/25; -35.8%)
• Net profit of CHF 1.8 million (CHF 4.1 million in 2024/25; -56.1%)
• Solid equity ratio at 75.4% (2024/25: 78.0%)
• Sustainability Report confirms commitment towards ESG targets
• Virtual Annual General Meeting scheduled for July 28
• Board of Directors proposes to refrain from distributing a dividend

Steinhausen, June 25, 2026 – Carlo Gavazzi’s 2025/26 financial year saw a decline in EBIT and net profit due to the winding down of the production at the Malta site and building up of the Mexico facility, despite revenue growth and a solid financial position, with regional variations in sales performance and ongoing strategic investments in innovation, manufacturing, digitalization, and sustainability to strengthen market presence and operational resilience.

Group revenue from sales increased by 7.7% in local currency, while bookings rose by 33.5%. Despite adverse currency effects against the Swiss franc, revenue from sales of goods increased by 4.9% to CHF 136.9 million, compared with CHF 130.5 million in 2024/25. Bookings also grew strongly, reaching CHF 138.3 million, up 28.1% from CHF 108.0 million in the previous year, resulting in a book-to-bill ratio of 1.01 for 2025/26. In addition, bookings in the second half of the year surpassed those recorded in the first half.

Gross profit increased by CHF 2.1 million to CHF 73.5 million, compared with CHF 71.4 million in 2024/25. The gross margin declined slightly to 53.7%, from 54.7% in the previous year, mainly due to the start-up of operations at the new facility in Mexico. Operating expenses (OPEX) rose by CHF 2.1 million to CHF 65.8 million, up from CHF 63.7 million in 2024/25, primarily reflecting the set-up of the new factory in Mexico and the higher level of business activity. A restructuring charge of CHF 2.5 million for the Malta site also negatively affected other income and expenses. At the same time, favorable currency movements helped contain the overall increase in OPEX, despite the Group’s continued significant investments in the business. As part of the reorganization of its manufacturing footprint, Carlo Gavazzi also began building up operations at its Mexico facility, which is dedicated to serving the American markets.

Operating profit (EBIT) declined to CHF 4.3 million, down from CHF 6.7 million in the previous year, representing a decrease of 35.8% compared with 2024/25. The EBIT margin fell by 1.9 percentage points to 3.2%, versus 5.1% in the prior year. After financial expenses of CHF 1.1 million and income taxes of CHF 1.4 million, net profit for the year amounted to CHF 1.8 million, compared with CHF 4.1 million in 2024/25, a decline of 56.1%.

As of March 31, 2026, total equity attributable to the owners of the Group amounted to CHF 132.2 million, compared with CHF 134.8 million in 2024/25. This corresponds to a solid equity ratio of 75.4% (2024/25: 78.0%) and a net cash position of CHF 42.2 million, versus CHF 47.6 million in the previous year. In light of the significant decline in net income for the 2025/26 financial year and given the Group’s continued investments in research and development as well as in its manufacturing facilities, the Board of Directors will propose to the Annual General Meeting that no dividend be distributed.

Geographical markets

Revenue from sale of goods in local currencies increased at double-digit rates across the Americas and Asia-Pacific and by single digit rates in Europe.

Europe posted a year‑on‑year increase in billing (+5.5% versus prior year), with a broadly positive underlying trend and a slightly favorable Forex impact (+0.5%). Growth was led by Germany, Sweden and Denmark, confirming strong momentum in the Nordic area, while performance was partially offset by declines in Austria and France. Overall, expanding markets outweighed contracting ones, keeping the region on a positive trajectory.

The Americas increased billing year on year (+14.5%), although reported growth was significantly impacted by adverse foreign exchange effects (-8.0%). The main growth contributors were Canada and the USA, while Mexico declined and partially offset the positive trend; Brazil remained moderately positive. In summary, growth markets prevailed, but currency effects materially weighed on the region’s reported performance.

Asia delivered a strong year‑on‑year growth among the regions (+10.6%), despite a negative Forex impact (-2.3%) that diluted reported performance. Growth was supported by key markets such as China; Singapore was slightly down, acting as a modest offset. Overall, the Asian growth engine remained intact, with foreign exchange being the main headwind on reported billings.

Concerning geographical distribution, revenue from the sale of goods outside Europe increased to 39.3% (38.3% in 2024/25), with the Americas and Asia-Pacific accounting for 23.6% (previous year 22.2%) and 15.7% (previous year 16.1%), respectively.

Markets and products

In FY2025/26, the Controls business delivered broadly stable billing performance. Growth was driven by Energy and Building Efficiency applications, including HVAC (heating, ventilation and air conditioning), which increased by 9.8%, as well as by EV Charging Stations, which recorded a strong 18.6% rise. These gains were partly offset by a sharp decline in Distributed Energy Resources and Energy Storage Systems, mainly due to customer inventory adjustments and a temporary pause in orders from a major inverter customer. Despite continued macroeconomic uncertainty, the outlook for the Group’s strategic industries remains positive. New products made a strong contribution, accounting for 4.3% of total billings, nearly double the level of the previous year. Key launches included UWP40DLB, which extends dynamic load balancing into EV charging applications, and EMS10, the next-generation energy management platform, both of which strengthened the Group’s offering in Energy and Building Efficiency and Distributed Energy Resources.

In the current year, the Sensors business outperformed the previous year, with billings increasing by 10.7%. Photoelectric Sensors exceeded prior-year sales, supported by strong performance in Access Control applications. Capacitive and Inductive Sensors also recorded growth in Industrial Automation, especially in the Agriculture and Mobile Equipment segments. New products such as LD30 and CA18/30 LED made a positive contribution, helping to win new applications and customers. The other product groups also developed positively, with Magnetic Sensors showing particularly strong growth, especially in Agriculture applications.

During the year, the Switches business delivered a solid overall performance, driven primarily by the strong growth of the Solid-State Relay segment. The Motor Controls business remained stable, confirming resilience in a challenging market environment. From an industry perspective, revenues increased by 21%, supported mainly by outstanding performance in Semiconductor and Li-Battery equipment applications (+69%) as well as continued momentum in the Food & Beverage sector (+34%). New business acquisition was strongly supported by the increasing demand for connectivity capabilities through the NRG platform, as well as by compliance-focused solutions such as the RSBS and RSBT soft starters. Channel performance showed a stable trend within distribution, highlighting the strength of long-term partnerships, customer loyalty, and confidence in our solutions.

Strategy

The Group’s strategy is built on two complementary pillars. Firstly, Carlo Gavazzi is focusing on high-growth industries by developing innovative and differentiated automation products, restructuring its sales organization into specialized teams, and regionalizing manufacturing and R&D activities to remain close to key markets and to respond effectively to changing geopolitical conditions. Secondly, the Group is pursuing additional growth opportunities through digitalization by expanding its e-commerce presence via partner platforms and direct go-to-market channels, thereby reaching a broader customer base. Supporting both pillars, the Group continues to invest in security and ESG (Environmental, Social and Governance) initiatives to strengthen its long-term sustainability and resilience.

Sustainability

The Group is fully committed to playing its part in building a more sustainable world. In this context, it issued its third Sustainability Report, covering the 2025 calendar year. In line with the Ordinance on Climate Disclosures, which mandates the implementation of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) for large companies. Carlo Gavazzi applied the TCFD framework during 2024/25 and disclosed information on its climate-related risks and opportunities in its ESG Report. Building on this assessment, the Group is now publishing its first high-level climate transition plan, providing an overview of Carlo Gavazzi’s climate targets, metrics and initiatives. The plan also outlines the key assumptions and dependencies underlying its implementation and highlights the current and expected financial effects of the strategic climate actions already underway or planned for future investment.

Outlook

Against a backdrop of political and geopolitical complexity, the Company remains firmly committed to its industry-focused market approach, aimed at strengthening brand recognition, expanding market share, and maintaining healthy profitability across its core segments. This strategy continues to be supported by a strong customer-centric focus, particularly in aligning product offerings with specific application needs.

In this context, ongoing investment in research and development remains a cornerstone of the organization. It supports the continuous introduction of new products designed to meet the evolving needs of targeted industries. This is particularly evident in recent product releases such as EMS (Distributed Energy Resources applications), EM600 (Ethernet-based energy meters supporting energy efficiency), and NRG digital solid-state relays (applications in Plastic machinery and the Semiconductor industry).

To further enhance customer proximity and operational resilience, the Company continues to invest in its manufacturing and R&D footprint. Capacity increases in both China and North America are being pursued to support long-term supply chain sustainability, improve efficiency, and contribute to broader ESG objectives.

In parallel, ongoing efforts are being made to enhance internal digital capabilities, including the progressive integration of Machine Learning and Artificial Intelligence into products and processes, while expanding the Company’s digital reach to our markets. This is achieved both through direct channels, notably the Carlo Gavazzi website, and through closer collaboration with our global authorized distribution network, with a focus on availability and service levels to our broad and diversified customer base.

Overall, the Company expects to build on the solid foundations established in the previous fiscal year, continuing its development across its three main regions. Europe will remain the core of the Company’s activities, providing stability and continuity, while the Company intends to progressively accelerate its development in the Americas and Asia, where growth dynamics are expected to evolve at a faster pace.

Michele Bernardi appointed Group CFO

Further, Carlo Gavazzi's Board of Directors appointed Michele Bernardi as Group CFO as of 1 August 2026. Michele Bernardi has been with Carlo Gavazzi for more than 35 years and has held various key positions within the Group. Carlo Gavazzi's Board of Directors wishes Michele Bernardi every success in his new role.

Yolanta de Cacqueray will remain as Interim CFO until 31 July 2026. Carlo Gavazzi's Board of Directors thanks Yolanta de Cacqueray for her support as Interim CFO.

 

Consolidated key figures (CHF million)

Income Statement	2025/26	2024/25	%
Bookings	138.3	108.0	+28.1
Revenue from sale of goods	136.9	130.5	+4.9
EBITDA	10.4	12.3	-15.5
EBIT	4.3	6.7	-35.8
Net profit for the year	1.8	4.1	-56.1
Balance Sheet (as at 31 March)	2026	2025
Net working capital	64.3	61.9	+3.9
Total equity attributable to owners of the Group	132.2	134.8	-1.9
Total liabilities and equity	175.4	172.9	+1.5
Equity ratio	75.4%	78.0%

For some figures Carlo Gavazzi Group uses alternative performance measures (APMs) which are not defined in accordance with International Financial Reporting Standards (IFRS). The respective definitions can be found at:
Carlo Gavazzi Alternative performance measures.

The complete annual report 2025/26 can be downloaded from the website at:
Carlo Gavazzi Annual Report 2025/26

The Sustainability Report 2025 can be downloaded from the website at:
Carlo Gavazzi Sustainability Report 2025

 

About Carlo Gavazzi:  
Carlo Gavazzi is a publicly listed international electronics group (SIX: GAV) with activities in the design and marketing of electronic control components for factory and building automation. 
Please visit our website:  www.carlogavazzi.com 

For further information please contact:  
Michael Schoenenberger 
Hirzel.Neef.Schmid.Counselors 
Phone +41 43 344 42 42 
E-mail michael.schoenenberger@konsulenten.ch

 

Steinhausen, May 5, 2026 – Carlo Gavazzi Holding AG informs today about the preliminary unaudited key figures for the 2025/26 business year.

In the period between April 1, 2025, and March 31, 2026, Carlo Gavazzi expects to reach a total revenue from sale of goods of approx. CHF 136.9 million (same period of previous business year: CHF 130.5 million). EBIT is expected to decrease to approx. CHF 4.4 million (previous year: CHF 6.7 million) and net profit for the year to around CHF 1.8 million (previous year: CHF 4.1 million), the main drivers being a restructuring charge related to the reduction of operations in Malta and the ramp up of the operations of the new factory in Mexico.

Orders grew from CHF 68.1 million (first semester of the 2025/26 business year) to approx. CHF 70.2 million in the second semester, resulting in bookings of approx. CHF 138.3 million for the entire financial year 2025/26 (previous year: CHF 108 million).

Carlo Gavazzi will announce the detailed full year audited figures on June 25, 2026.

About Carlo Gavazzi:  
Carlo Gavazzi is a publicly listed international electronics group (SIX: GAV) with activities in the design and marketing of electronic control components for factory and building automation. 
Please visit our website:  www.carlogavazzi.com 

For further information please contact:  
Michael Schoenenberger 
Hirzel.Neef.Schmid.Counselors 
Phone +41 43 344 42 42 
E-mail michael.schoenenberger@konsulenten.ch