First Read Datwyler 1H26 results - takeaways from conference call with CEO and CFO

研报英文原文证据摘录

First Read Datwyler 1H26 results - takeaways from conference call with CEO and CFO

Global Research

23 July 2026ab

First Read

EquitiesDatwyler

1H26 results - takeaways from conference call Switzerland

with CEO and CFO Electric Components & Equipment

12-month rating Buy

12m price target CHF201.00

Further thoughts on healthcare exposure

Datwyler's healthcare focussed segment further shifted its business mix, with high value

products in the meantime contributing around 38% to divisional sales, in our view. Price (23 Jul 2026) CHF143.00

Moreover, we expect that share to have been around 35% at its FY25, hence implying a RIC: DAE.S BBG: DAE SW

material shift in 1H26. Moreover, compared to the previously outlined company

Trading data and key metrics

ambition to see a low double digit million revenue amount related to GLP-1 in FY26E,

we expect Datwyler to be well ahead on ytd basis already. However, we also 52-wk range CHF171.20-132.40

acknowledge that the segment's operational margins saw a one-off tailwind of around Market cap. CHF2.43b/US$2.98b

CHF4m in 1H26, with underlying margins then rather at around 19%. Shares o/s 17.0m (BEAR)

Free float 59%

Additional granularity on industrial end markets Avg. daily volume ('000) 8.95

We expect that Datwyler's market outlook discounts broadly stable global vehicle Avg. daily value (m) CHF1.4

production, with Chinese OEMs continuing to gain global market share, while BEV Common s/h equity (12/26E) CHF0.40b

adoption remaining uneven across regions. For its food and beverage end market, we P/BV (12/26E) 6.5x

anticipate the company to bake in sustained growth in aluminum-compatible capsules, Net debt to EBITDA (12/26E) 1.7x

allowing for a market CAGR of around 3-5%. Moreover, its oil & gas subsegment should

EPS (UBS, diluted) (CHF)