Ad hoc announcement pursuant to Art. 53 LR
Baar, Switzerland, August 6, 2025
First half of 2025 at a glance:

• Net revenue of CHF 140.0 million (H1/2024: CHF 142.1 million), reflecting a slight increase of 0.2% at constant currencies and a decrease of 1.5% at actual currencies.
• Incoming orders amounted to CHF 156.6 million (H1/2024: CHF 166.1 million), reflecting a decrease of 4.2% at constant currencies and a decrease of 5.7% at actual currencies.
• EBITDA increased by CHF 1.6 million to CHF 12.1 million (H1/2024: CHF 10.5 million), and the EBITDA margin increased by 1.2 percentage points to 8.6% (H1/2024: 7.4%).
• Group profit amounted to CHF 2.2 million (H1/2024: CHF 2.9 million), impacted by predominantly unrealized foreign currency exchange effects.
• Net cash position amounted to CHF 29.5 million (H1/2024: CHF 16.5 million), with a solid equity ratio of 37.9% (H1/2024: 36.7%).

Guidance for the fiscal year 2025: Ascom reconfirms its full-year guidance with low single-digit revenue growth at constant currencies and an EBITDA margin of 9–10%.

Ascom strategy 2025: mid-year momentum and what’s next 

Ascom’s strategy and transformation journey remain unchanged and clear, which is to be one of the leading providers in critical communication and collaboration in the Healthcare and Enterprise sectors. The key focus and achievements in H1/2025 have been:

• Ascom continued to streamline the portfolio and is completing the product containerization, laying the foundation for converged and cloud-based platforms across all segments. This has been a major investment of Ascom over the past three years to further enhance customer value and growth.
• Further efforts were made to improve Ascom’s operational efficiency through a cost improvement plan implemented during the second half of 2024 and the first half of 2025.
• Ascom established a new and leaner organization with a stronger customer focus and better cost efficiency:
  

– The number of regions was reduced from eight to three: Region North, South, and USA & Canada.
– The service, operations, and solutions teams were integrated across regions for better growth and more cost-effective project delivery.
These changes are expected to enable Ascom to

• further strengthen its position in critical communication and collaboration.
• capitalize on growth opportunities in Healthcare and Enterprise markets with software, nurse call, and mobility solutions.
• achieve continued EBITDA accretion year over year.
  

Key markets in line with expectations
The Ascom North and South regions generated results in H1/2025 in line with expectations. While the region North performed in line with the previous year, the region South showed some revenue growth (at constant currencies), but a decline in incoming orders.
The current market uncertainty in the USA and Canada delayed customer decisions and had a negative impact on order intake and revenue conversion in H1/2025, which was further compounded by the adverse currency evolution of the US Dollar in the first half of 2025.
The book-to-bill ratio remains at a healthy 1.12. Order backlog stood at CHF 309.6 million per 30.6.2025 (CHF 311.5 million per 30.6.2024), a decline of CHF 1.9 million or 0.6%. In constant currencies, order backlog increased by 3.7%.
 
Increased EBITDA margin
Gross profit in the first half of 2025 amounted to CHF 67.2 million, and the gross margin reached 48.0% (H1/2024: 47.3%). EBITDA came to CHF 12.1 million with an EBITDA margin of 8.6%, an increase of 1.2 percentage points compared to the previous year (H1/2024: CHF 10.5 million with a margin of 7.4%). EBIT was at CHF 5.0 million (H1/2024: CHF 4.0 million). As a result, Ascom closed the first half of 2025 with a Group profit of CHF 2.2 million (H1/2024: CHF 2.9 million).

Solid balance sheet with equity ratio of 37.9%
On 30 June 2025, cash and cash equivalents amounted to CHF 29.5 million. Ascom generated free cash flow of CHF 15.8 million in the first six months (H1/2024: CHF 2.1 million). The cash flow generation was positively impacted by higher cash from operating activities and lower investments. On 30 June 2025, the equity ratio stood at a solid 37.9% (H1/2024: 36.7%). 

Share buyback program
To reinforce shareholder value and for the purpose of capital reduction, Ascom has launched a share buyback program up to a maximum of 3 million registered shares and up to a maximum buyback amount of CHF 15.0 million. The program started successfully. The share buyback program is planned to be closed in November 2026. 

Guidance for fiscal year 2025
Ascom reconfirms its full-year guidance with low single-digit revenue growth at constant currencies and an EBITDA margin of 9–10%.
KEY FIGURES HALF-YEAR 2025

In CHFm, except %
	H1/2025	H1/2024
Incoming orders	156.6	166.1
Order backlog (at the end of the period)	309.6	311.5
Net revenue	140.0	142.1
Gross profit	67.2	67.2
EBIT	5.0	4.0
EBIT margin in %	3.6%	2.8%
EBITDA1	12.1	10.5
EBITDA margin in %	8.6%	7.4%
Group profit	2.2	2.9
Number of employees (FTE) at 30.06.	1,370	1,433

¹ EBITDA, earnings before interest, income tax, depreciation, and amortization, see also definition in the 2025 Half-year Report on page 5.

The Ascom Group’s Half-Year Report 2025 and the accompanying Half-Year Results Presentation are now available in English at https://www.ascom.com/investors/reports-and-presentations/.

In alignment with our commitment to sustainability, both the Half-Year Report 2025 and the letter to shareholders — which forms an integral part of the report — will be provided exclusively in electronic format to all shareholders via the link above.

The Half-Year Results Conference Webcast 2025 starts on Wednesday, 6 August 2025, at 10.00 a.m. CEST.

The conference can be joined via a live audio webcast with synchronized presentation slides, including Q&A or via conference call, where participants can ask questions after the presentation.

Live-Webcast: Link Live Audio Webcast
Dial In: Link Conference Call

Attachment

• Ascom_MediaRelease_HYR2025