Ad hoc announcement pursuant to Art. 53 LR

R&S Group reports solid EBITDA margin for FY2025

• Net sales of CHF 414.8 million and order backlog of CHF 325.7 million as pre-announced
• EBITDA of CHF 86.7 million, corresponding to an EBITDA margin of 20.9%
• Free cash flow of CHF 48.1 million, 11.6% of net sales
• Net financial debt reduced to CHF 62.9 million, resulting in a leverage ratio of 0.7x EBITDA

5 March 2026 – R&S Group Holding AG (SIX: RSGN) today announces further unaudited results for the full year (FY) 2025. As previously reported, FY2025 net sales amounted to CHF 414.8 million, equivalent to 8.6% growth on an organic[1] basis and 9.7% at constant foreign exchange rates. On a reported basis, sales grew 47%, reflecting the acquisition of Kyte Powertech. Order intake of CHF 476.8 million results in a book-to-bill of 1.15 and, together with the order backlog of CHF 325.7 million, provides positive visibility for 2026 and 2027.

After a strong fourth quarter, FY2025 EBITDA increased to CHF 86.7 million (FY2024: CHF 67.5 million). EBITDA margin was 20.9%, adjusted for a one-off of CHF 1.8 million pre-tax profit from the disposal of the non-core electrical switches business at the end of December 2025, the margin would have been 20.5% (FY2024: 23.9%). Profit after tax reached CHF 58.1 million (FY2024: CHF 41.2 million).

Free cash flow (FCF) rose to CHF 48.1 million, equivalent to a FCF margin of 11.6% of net sales (FY2024:[2] CHF 44.9 million, 15.9%). This result was achieved despite substantial investments in capacity expansion.

The balance sheet is solid with net financial debt significantly reduced to CHF 62.9 million (CHF 91.3 million at year-end 2024). As a result, the leverage ratio stood at 0.7x EBITDA at the end of 2025 (1.3x EBITDA at year-end 2024).

The Board of Directors will propose a dividend payment of CHF 0.50 per share at the Annual General Meeting on 7 May 2026.

Overall, R&S Group delivered a strong performance across all key metrics. This was supported by robust end-market demand, continued capacity expansion, and disciplined operational execution. The Group confirms its mid-term guidance for organic net sales growth of 8-12% over the cycle, along with an EBITDA margin in the range of 19%-21%.

On 8 April 2026, the R&S Group Annual Report 2025 will be published and Group CEO Eduardo Terzi and Group CFO Matthias Weibel will host a physical meeting in Zurich to present the full financial results and provide an update on the execution of the Group’s strategy. The invitation to the event and the webcast will be sent out shortly.
 

^{[1]  Like for like comparison: including four months of Kyte in 2024 and 2025 (Sep – Dec)
[2]  Adjusted for net cash outflow from Kyte Powertech acquisition of 217.4 MCHF (incl. transaction costs of 10.0 MCHF) and subsequent tax payment in Italy.}
 

Consolidated Key Financials		2025 reported		2024 reported 1		2024 adjusted 1			Change in reported figures
		MCHF		MCHF		MCHF			in%
Order intake		476.8		305.5		305.5			56%
Order backlog		325.7		278.0		278.0			17%
Net sales		414.8		282.6		282.6			47%
EBITDA		86.7	2	67.5		67.5			28%
as % of net sales		20.9%		23.9%		23.9%
EBIT		79.2	2	62.7		65.1	3		26%
as % of net sales		19.1%		22.2%		23.0%
Profit after tax		58.1	2	41.2		47.3	3		41%
Free cash flow		48.1		-176.2		44.9			n.a.
Earnings per share in CHF 4		1.56		1.31		1.51			19%
Net financial debt 5		62.9		91.3		n.a.			-31%
Dividend per share in CHF 6		0.50		0.50		0.50			0%
Year-end number of full-time equivalent employees		1’328		1’192		1’192			11%

^{1  On 20 August 2024, the group acquired Kyte Powertech, the comparative figures therefore include Kyte Powertech from that date onwards. Several adjustments in 2024 related to the acquisition accounting.
2  Including 1.8 MCHF pre-tax profit from the disposal of the non-core electrical switches & connectors business in Dec. 2025.
3  Adjusted for subsequent tax payment in Italy of 3.7 MCHF and Irish Employee Benefit Program of 2.4 MCHF.
4  Basic earnings per share computed by dividing profit after tax by the weighted average number of shares outstanding.
5  Defined as cash and equivalents less (interest-bearing) short- and long-term liabilities.
6  Proposal by the Board of Directors to the AGM on 7 May 2026.}

Calendar

8 April 2026 7 May 2026 5 August 2026 16 September 2026 4 November 2026

Release of 2025 Annual Report Annual General Meeting Trading update HY2026 Release of 2026 Semi-annual Report Capital Markets Day in Lodz/Poland

 

Contact Investor and Media Relations

Doris Rudischhauser
Phone: +41 79 410 81 88
Email: investors@the-rsgroup.com

 

About R&S Group

R&S Group Holding AG’s (“R&S Group”, the “company”) operating headquarters are located in Sissach/BL, Switzerland. With eight manufacturing facilities in Switzerland, Italy, Poland, Ireland and the Middle East, the group serves its domestic and various European markets with single-phase, small and medium distribution and power transformers and other components under the brands of Rauscher & Stoecklin, ZREW, Tesar and Kyte. R&S Group’s customers are active in the utility, infrastructure and industrial sectors. The company has been successfully positioned to benefit from the accelerating demand for energy production and distribution, driven by the global trend towards decarbonization. R&S Group has been listed on SIX Swiss Exchange since 13 December 2023 under the ticker symbol RSGN. On 20 August 2024, the company acquired Kyte Powertech, a leading supplier of distribution transformer solutions based in Cavan, Ireland, thus significantly expanding geographic footprint to Ireland, the UK, Benelux and France, and adding complimentary products.

Further information about the R&S Group can be found at www.the-rsgroup.com

 

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements concerning R&S Group Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of R&S Group Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. R&S Group Holding AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.