Interim report
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Half-Year Report 26
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2 3 SKAN Half-Year Report 2026 SKAN Fact Sheet (in CHF) 1 Percentage points 2 Investments in property, plant and equipment and intangible assets 3 Compared to first half of 2025 4 Change in CHF16.3 m16.3 m 247.6 m247.6 m 164.5 m164.5 m 15.3 m15.3 m 9.3%9.3% Order intake +16.3% Net sales +22.2% EBITDA nm EBITDA- Margin +8.6pp 1 88.5 m88.5 m 480.0 m480.0 m 13.7 m13.7 m 1’6941’694 Cash -6.0% Assets -0.2% Investments -36.3% 2/3 Headcount -61 Operating cash flow -6.2m 4 Changes compared to 1st half 2025 Changes compared to 31.12.2025
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4 5 SKAN Half-Year Report 2026 Locations Key Figures1 CHF in thousands 1st half 2026 or 30.06.2026 in % of net sales 1st half 2025 or 31.12.2025 in % of net sales change in % Financial key figures Order intake 247’584 212’972 16.3% Order backlog2/6 442’273 346’133 27.8% Net sales from goods and services 164’484 134’568 22.2% EBITDA 15’281 9.3% 928 0.7% nm3 EBIT 8’667 5.3% -4’910 -3.6% nm3 Result for the period 5’447 3.3% -8’261 -6.1% nm3 Other key figures Net working capital (NWC)2 -30’517 -26’622 14.6% Return on capital employed (ROCE) 3.2% -2.3% nm3 Investments (PPE and Intangible Assets)4 13’725 21’531 -36.3% Equity2 125’474 127’591 -1.7% Equity ratio2 26.1% 26.5% -1.4% Cash flow from operating activities 16’318 22’576 -27.7% Cash flow from investing activities -13’639 -13’381 -1.9% Cash flow from financing activities -7’856 -9’513 17.4% Headcount2 1’694 1’755 -3.5% Segment key figures Equipment & Solutions Order intake 166’364 160’440 3.7% Order backlog2/6 362’485 293’081 23.7% Net sales from goods and services 99’915 90’696 10.2% EBITDA 2’278 2.3% -9’094 -10.0% nm3 Service & Consumables Order intake 81’220 52’532 54.6% Order backlog2 79’788 53’052 50.4% Net sales from goods and services 64’568 43’871 47.2% EBITDA 13’003 20.1% 10’022 22.8% 29.7% Stock key figures Registered shares 22’483’524 22’483’524 0.0% Weighted average number of shares outstanding5 22’479’642 22’483’524 0.0% Earnings per share (in CHF) 0.21 -0.40 nm3 1 The company was acquired on 31 July 2025. 2 Fully owned subsidiary of Metronik d.o.o.; see footnote 1. 3 The company was acquired on 31 July 2025. SKAN Holding AG (Switzerland) 100% SKAN Group AG (Switzerland) 100% SKAN Real Estate LLC (USA) 100% SKAN US Inc. (USA) 100% SKAN Stein AG (Switzerland) 100% Aseptic T echnologies S.A. (Belgium) 90% SKAN do Brasil Ltda. (Brazil) 100% Metronik d.o.o. 1 (Slovenia) 76% Metronik sustavi d.o.o. 2 (Croatia) 100% ABC Transfer S.A.S 3 (France) 84% SKAN Deutschland GmbH (Germany) 100% SKAN Japan KK (Japan) 80% Maeven AG (Switzerland) 100% SKAN AG (Switzerland) 100% 1 This table and report include references to operational indicators, such as customer projects, and alternative financial performance measures (APM) that are not defined or specified by Swiss GAAP FER. These APMs should be regarded as complementary information to and not as substitutes for the Group’s consolidated half-year financial results based on Swiss GAAP FER. For the definition of the main operational indicators and APMs used, including related abbreviations, please refer to the section entitled “Abbreviations and Definitions” . 2 Comparison value as of 31.12.2025 3 Not meaningful 4 Investments in property, plant and equipment and intangible assets 5 Weighted average number of shares outstanding reduced by treasury shares acquired during the reporting period 6 Within the total order backlog, approximately CHF 15 to 20 million is currently subject to a potential cancellation risk
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6 7 SKAN Half-Year Report 2026 Letter to shareholders The SKAN Group looks back on a strong first half of 2026. In a more dy- namic market environment, order intake, net sales and profitability increased significantly. Demand for large, complex customized systems was particularly strong. At the same time, the services and single-use systems business continued its positive trend and grew at an above-aver- age rate. The structural growth drivers in our markets remain attractive. T ogether with the solid order backlog, this provides a solid foundation for further business development. Against this backdrop, the SKAN Group confirms its guidance for the full year 2026. Dear Shareholder The pharmaceutical and biotech market gained mo - mentum in 2026 compared to the previous year, particularly in the U.S. Investments in new production capacity, the regional- ization of critical supply chains and onshoring initiatives sup- ported demand. In Europe, the healthy demand seen in the previous year has continued. Following the exceptionally strong growth phase during the COVID-19 pandemic, the market is now in a phase of normalization. Our customers are making investment decisions more selectively, decision-making cycles have lengthened, and the competitive environment has inten- sified. However, the long-term growth drivers remain attractive. Patent expirations for numerous biologics, the growing impor- tance of biosimilars, investments in regional production secu- rity and the commercialization of new forms of therapy continue to create high demand for modern production capacity. Demand for technologically advanced and regulatory-critical solutions for aseptic processes remained robust in the first half of 2026. SKAN is well-positioned to meet this demand with a broad portfolio ranging from isolator systems to software solutions and single-use systems. Key financial figures ahead of the previous year The SKAN Group increased its order intake by 16.3% to CHF 247.6 million in the first half of 2026 (H1 2025: CHF 213.0 million). A positive development was the successful con- version, as planned, of numerous engineering contracts won in 2025 into orders for complete systems. The order intake also includes several major projects with durations extending into 2028. The order backlog rose by 27.8% to CHF 442.3 million (31.12.2025: CHF 346.1 million). Net sales rose by 22.2% compared to the same period last year to CHF 164.5 million (H1 2025: CHF 134.6 million); on a currency-adjusted basis, growth amounted to 24.0%. The growth was driven by both the existing business and the acqui- sitions consolidated during the reporting period. This perfor - mance reflects the continued robust demand and SKAN’s strong market position. Profitability improved significantly in the first half of 2026 compared with the weak period in the prior year. EBITDA rose to CHF 15.3 million, up from CHF 0.9 million in the first half of 2025. This development is primarily attributable to the fact that the project delays that weighed on results in the prior year did not recur to the same extent and more projects were in high-value-added phases during the reporting period. In addi- tion, the disproportionately strong growth of the Services & Consumables segment – driven by the acquisitions included in the reporting period – as well as targeted measures to improve the cost base contributed to the increase in profitability. Net result for the first half of 2026 amounted to CHF 5.4 million, following a loss of CHF 8.3 million in the same pe- riod of the previous year. Equipment & Solutions with solid demand for large-scale projects The Equipment & Solutions segment recorded order intake of CHF 166.4 million in the first half of 2026, up 3.7% from the same period last year (H1 2025: CHF 160.4 million). The majority of orders were for large and complex customized projects. High-speed lines featuring Ebeam technology were in particularly high demand. Growth was driven not only by new drugs, primarily in oncology, but also increasingly by biosimilars. Net sales rose by 10.2% to CHF 99.9 million (H1 2025: CHF 90.7 million). Segment EBITDA increased to CHF 2.3 mil- lion, corresponding to a segment EBITDA margin of 2.3% (H1 2025: CHF -9.1 million). Services & Consumables shows significant growth During the reporting period, the Services & Consuma- bles segment increased its order intake by 54.6% to CHF 81.2 million (H1 2025: CHF 52.5 million). Both the services and single-use systems businesses, as well as the acquisitions, con- tributed to this encouraging growth. Net sales increased by 47.2% to CHF 64.6 million (H1 2025: CHF 43.9 million). The net sales of Metronik and ABC T ransfer have been included in the Group’s net sales since the beginning of the year, bringing the segment’s share of the SKAN Group’s total net sales to 39%. Segment EBITDA was CHF 13.0 million, and the segment EBITDA margin was 20.1% (H1 2025: CHF 10.0 million; 22.8%). The preparation for market launch of Pre-Approved Services continued successfully during the reporting period. The goal is to obtain approval from Swissmedic in the current year. Confident Outlook The markets targeted by SKAN have attractive growth drivers. Rising demands for quality, automation, containment and regulatory compliance as well as the growing importance of biologics, antibody-drug conjugates (ADCs) and cell and gene Jonas Greutert, CEO and Beat Lüthi, BoD Chairman
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8 9 SKAN Half-Year Report 2026 therapies are supporting demand for technologically leading aseptic production solutions. At the same time, the market is undergoing structural changes. In addition to political discussions about drug prices, numerous high-revenue biologics will lose their exclusivity in the coming years. This opens up opportunities for the SKAN Group — on the one hand, through the development of new biosimilar production capacities, and on the other, through pro- duction solutions for innovative next-generation therapies. Pharmaceutical and biotech companies, however, are facing increasing competitive and cost pressures with their established products. In this environment, cost discipline and the right cap- ital allocation are becoming increasingly important. Many com- panies are prioritizing investments more selectively and sub- jecting projects to stricter economic scrutiny. Thanks to SKAN’s strong market position, technolog- ical expertise, the total cost of ownership advantages of its systems and the strong sales track record, the company is well positioned to benefit from these developments and to continue delivering double-digit growth rates in the future. In the coming years, SKAN will focus on increasing its EBITDA margin by launching ongoing innovation projects in the market, imple- menting a management structure with segment responsibility, enhancing operational excellence, and expanding sales and service. SKAN confirms its guidance for the full year 2026. Based on the current course of business, the Group remains confident of achieving its full-year targets, while execution in the remainder of the year is key to their attainment. For the full year, net sales is expected to grow in the high-teens, with an EBITDA margin between 13 and 15 percent. Sincere thanks SKAN employees have once again demonstrated great commitment over the past six months. We would like to express our sincere gratitude to all of them. A big thank you also goes to all our customers for their trust, to our partners and suppliers for their excellent cooperation, and to you, our valued share- holders, for your support. Beat Lüthi Jonas Greutert Chairman of the BoD CEO
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10 Half-Year Financial Statements
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12 13 SKAN Half-Year Report 2026 Consolidated Half-Year Financial Statements 2026 14 Consolidated Income Statement 16 Consolidated Balance Sheet 18 Consolidated Cash Flow Statement 20 Consolidated Statement of Changes in Equity 24 Notes to the Consolidated Financial Statements
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14 15 SKAN Half-Year Report 2026 Consolidated Income Statement in CHF thousands Note 1st half 2026 1st half 2025 Net sales from goods and services 5 164’484 100% 134’568 100% Change in inventory of finished, unfinished goods and work in progress 5’290 2’075 Material and external services -39’947 -29’264 Gross Profit 129’826 79% 107’378 80% Personnel expenses 5 -90’922 -80’344 Other operating expenses 5 -23’623 -26’106 EBITDA 15’281 9% 928 1% Depreciation -4’576 -4’558 Amortization -2’038 -1’280 Operating Result (EBIT) 8’667 5% -4’910 -4% Financial expenses 5 -4’141 -3’185 Financial income 5 2’598 1’170 Ordinary Result Before Income T axes (EBT) 7’124 4% -6’925 -5% Income taxes -1’677 -1’335 Result For The Period 5’447 3% -8’261 -6% Result attributable to minority interests 637 638 Result attributable to shareholders of SKAN Group AG 4’810 -8’898 Basic and diluted earnings per share in CHF 4 0.21 -0.40
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16 17 SKAN Half-Year Report 2026 Consolidated Balance Sheet in CHF thousands Note 30.06.2026 31.12.2025 Cash and cash equivalents 88’472 94’081 T rade receivables 6 29’325 35’046 Other current receivables 13’646 14’779 Inventories 6 36’038 33’145 Work in progress 6 81’976 86’779 Prepayments and accrued income 6 18’977 11’808 T otal Current Assets 268’434 56% 275’639 57% Property, plant and equipment 6 194’695 186’829 Financial assets 3’174 3’105 Intangible assets 13’117 14’643 Deferred tax assets 607 860 T otal Non-Current Assets 211’594 44% 205’437 43% T otal Assets 480’027 100% 481’076 100% in CHF thousands Note 30.06.2026 31.12.2025 T rade payables 39’486 44’411 Advance payments from customers 6 132’186 123’754 Current financial liabilities 1’086 1’823 Other current liabilities 7’893 7’847 Current provisions 6 19’237 16’542 Accrued liabilities and deferred income 6 11’677 15’626 Current Liabilities 211’565 44% 210’002 44% Non-current financial liabilities 129’548 129’652 Other non-current liabilities 7’284 7’462 Deferred tax liabilities 6’155 6’368 Non-Current Liabilities 142’988 30% 143’482 30% T otal Liabilities 354’553 74% 353’484 73% Share capital 225 225 Capital reserves 6 106’733 108’851 T reasury shares 7 -308 0 Retained earnings 6 7’020 5’373 Equity Attributable to Shareholders of SKAN Group AG 113’670 24% 114’449 24% Minority interests 11’804 13’142 T otal Equity 125’474 26% 127’591 27% T otal Liabilities and Equity 480’027 100% 481’076 100%
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18 19 SKAN Half-Year Report 2026 Consolidated Cash Flow Statement in CHF thousands Note 1st half 2026 1st half 2025 Result for the period 5’447 -8’261 Depreciation and amortization 6’614 5’838 Change of provisions (including deferred taxes) 6 2’791 -8’278 Other non-cash items 357 -907 Change of trade receivables 6 5’651 7’935 Change of inventories and work in progress 6 1’529 362 Change of other receivables, prepayments and accrued income 6 -6’124 -1’335 Change of trade payables -4’817 692 Change of advance payments from customers, other current lia- bilities and accrued liabilities and deferred income 6 4’992 26’680 Change of other non-current liabilities -122 -148 Cash Flow from Operating Activities 16’318 22’576 Inflows from fixed term deposits 0 8’000 Outflows for property, plant and equipment 6 -13’078 -19’854 Inflows from disposal of property, plant and equipment 169 20 Outflows for purchase of financial assets -84 0 Inflows from net cash proceeds of purchase of Plast4Life 0 131 Outflows for purchase of intangible assets -647 -1’677 Cash Flow from Investing Activities -13’639 -13’381 in CHF thousands Note 1st half 2026 1st half 2025 Distribution of profits to shareholders of SKAN Group AG 6 -4’948 -8’993 Distribution of profits to minority interests -1’873 0 Purchase of treasury shares 7 -310 0 Issuance/Repayment of current financial liabilities -715 -544 Issuance/Repayment of non-current financial liabilities -11 25 Cash Flow from Financing Activities -7’856 -9’513 Net impact of foreign exchange rate differences on cash and cash equivalents -431 -459 Change in Cash and Cash Equivalents -5’609 -777 Cash and cash equivalents as at 1 January 94’081 53’711 Cash and cash equivalents as at 30 June 88’472 52’935 Change in Cash and Cash Equivalents -5’609 -777 Cash and cash equivalents comprise current bank accounts, petty cash and short-term financial investments with an initial maturity of up to three months.
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20 21 SKAN Half-Year Report 2026 Consolidated Statement of Changes in Equity in CHF thousands Share capital Capital reserves Treasury Shares Goodwill offset Currency transla- tion differences Other retained earnings Retained earnings Equity attributable to shareholders of SKAN Group AG Minority interests T otal Equity Balance as at 1 January 2025 225 113’348 0 -35’573 -4’404 122’562 82’587 196’159 6’404 202’563 Result for the period 0 0 0 0 0 -8’898 -8’898 -8’898 638 -8’261 Dividends paid to minority interests3 0 0 0 0 0 0 0 0 -701 -701 Dividends paid to shareholders of SKAN Group AG 0 -4’497 0 0 0 -4’497 -4’497 -8’993 0 -8’993 Addition of goodwill 0 0 0 -179 0 179 0 0 0 0 Currency translation differences1 0 0 0 0 -1’108 0 -1’108 -1’108 -69 -1’176 Balance as at 30 June 2025 225 108’851 0 -35’752 -5’512 109’346 68’082 177’158 6’272 183’430 Balance as at 1 January 2026 225 108’851 0 -122’387 -6’581 134’339 5’373 114’449 13’142 127’591 Result for the period 0 0 0 0 0 4’810 4’810 4’810 637 5’447 Dividends paid to minority interests 0 0 0 0 0 0 0 0 -1’873 -1’873 Dividends paid to shareholders of SKAN Group AG 0 -2’474 0 0 0 -2’474 -2’474 -4’948 0 -4’948 Amortization of goodwill 0 0 0 9’347 0 -9’347 0 0 0 0 Purchase of treasury shares2 0 -2 -308 0 0 0 0 -310 0 -310 Share-based payments 0 357 0 0 0 0 0 357 0 357 Currency translation differences1 0 0 0 0 -687 0 -687 -687 -103 -790 Balance as at 30 June 2026 225 106’733 -308 -113’040 -7’268 127’328 7’020 113’670 11’804 125’474 1 A part of the currency translation effects arises from an intragroup loan which was considered to have equity character since 2023. Hence the repayment of the loan is not expected in the near future. Due to this change in assumption the for- eign currency impact on this loan is recognized through equity. 2 For the purchase of treasury shares, see further information on note 7. 3 The dividend was paid out in July 2025.
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22 23 SKAN Half-Year Report 2026
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24 25 SKAN Half-Year Report 2026 Notes to the Consolidated Financial Statements 1 General Information SKAN Group AG (hereafter the Company) is a public limited company incorporated under Swiss law and is head- quartered in Allschwil. The Company is listed on the SIX Swiss Exchange with the security symbol “SKAN” . SKAN is a pioneer in aseptic and aseptic-toxic manu- facturing processes for the (bio)pharmaceutical industry. The company is the market and technology leader in high-quality, process-critical isolator systems designed to enable the filling of pharmaceutical products in compliance with stringent ste- rility requirements. SKAN isolator systems are designed to pro- tect the product, employees and the environment during sterile and toxic applications in production and quality control, as well as in powder and substance processing. In addition, SKAN provides its customers with process support, software solutions, services, and single-use systems. Innovative solutions, combined with a customer-centric and efficient life-cycle support organization, make SKAN a key part- ner to the pharmaceutical and biotechnology industries, con- tract manufacturing organizations (CMOs), and research labo- ratories worldwide. Founded in 1968, SKAN today employs 1’694 people. More than half are based at the company’s headquarters in Allschwil, located within the Basel region’s life sciences hub. The remaining employees are based across SKAN’s subsidiar- ies in Switzerland, Germany, Belgium, France, Slovenia, Croatia, Japan, the United States, and Brazil. The consolidated half-year financial statements as of 30 June 2026 present the income statement, balance sheet, cash flow statement, statement of changes in equity and notes of SKAN Group AG and its subsidiaries. 2 Basis of Preparation and Significant Accounting Policies The unaudited consolidated half-year financial statements comprise the half-year results of SKAN Group AG and its subsidiaries for the reporting period ended 30 June 2026 and have been prepared in accordance with Swiss GAAP FER 31 “Additional accounting and reporting recommendations for listed companies” and the consolidation and accounting prin- ciples described in the 2025 consolidated financial statements. The half-year report does not include all the information and disclosures presented in the annual consolidated financial statements and should therefore be read in conjunction with the consolidated financial statements compiled for the year ended 31 December 2025, as they represent an update of the last complete set of financial statements. Selected explanatory notes are included to explain significant transactions and events that occurred in the first half of the year. The figures and espe- cially the totals may contain rounding differences. 3 Management Assumptions and Estimates Management’s estimates and assumptions used in the consolidated half-year financial statements have not changed compared to the 2025 consolidated financial statements. 4 Segment Information In accordance with the management structure and the reporting to the Management and the Board of Directors of SKAN Group AG (hereafter Board of Directors), the reportable segments are the following: Equipment & Solutions Services & Consumables Within Equipment & Solutions, we provide mission-critical solutions for pharma - ceutical production, including isolators, integrated automated systems, aseptic filling systems and solutions as well as laboratory and cleanroom equipment. Our products are characterized by their With our Services & Consumables business we provide global customer support and offer our customers high reliability, innovative features and functions and quality. We offer system and customized solutions as well as end-to-end support to our customers for efficient approval processes with the relevant regulatory authorities (e. g. FDA, EMA, Swissmedic). ready-to-use consumables as well as digital solutions.
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26 27 SKAN Half-Year Report 2026 1st half 2026 in CHF thousands Equipment & Solutions Services & Consumables T otal segments/ Group Net sales from goods and services 99’915 64’568 164’484 EBITDA 2’278 13’003 15’281 EBITDA margin 2.3% 20.1% 9.3% Depreciation -4’576 Amortization -2’038 Operating Result (EBIT) 8’667 Financial result -1’543 Ordinary Result / Result Before Income T axes (EBT) 7’124 1st half 2025 in CHF thousands Equipment & Solutions Services & Consumables T otal segments/ Group Net sales from goods and services 90’696 43’871 134’568 EBITDA -9’094 10’022 928 EBITDA margin -10.0% 22.8% 0.7% Depreciation -4’558 Amortization -1’280 Operating Result (EBIT) -4’910 Financial result -2’015 Ordinary Result / Result Before Income T axes (EBT) -6’925 Net sales by region in CHF thousands 1st half 2026 1st half 2025 Asia 23’742 16’552 Europe 97’592 70’936 Americas 41’908 44’678 Other regions 1’242 2’402 T otal Net Sales by Region 164’484 134’568 Net sales include kCHF 96’149 (2025: kCHF 77’164) from long-term contracts. Earnings Per Share in CHF 1st half 2026 1st half 2025 Result attributable to shareholders of SKAN Group AG 4’809’643 -8’898’450 Weighted average number of shares outstanding1 22’479’642 22’483’524 Basic and diluted earnings per share (in CHF) 0.21 -0.40 1 Weighted average number of shares outstanding re- duced by treasury shares acquired during the report- ing period.
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28 29 SKAN Half-Year Report 2026 5 Income Statement Net Sales from Goods and Services Net Sales increased by 22.2% to kCHF 164’484 in the first half of 2026, compared with kCHF 134’568 in the prior-year period. Segment View Services & Consumables recorded particularly strong growth, with net sales increasing by 47.2% to kCHF 64’568 from kCHF 43’871, including a contribution from acquisitions. Equipment & Solutions increased net sales by 10.2% to kCHF 99’915 from kCHF 90’696, supported by a more favour- able project execution compared with the prior-year period, which had been more affected by project postponements. Over- all, the revenue development reflects continued demand across the Group’s activities and solid execution of the existing order backlog. Regional View Europe continued to be the Group’s largest market, with net sales growing to kCHF 97’592 (H1 2025: 70’936), repre- senting 59.3% of total Group sales. The Americas remained the second-largest contributor, generating net sales of kCHF 41’908 (H1 2025: kCHF 44’678) and accounting for 25.5% of total sales. Asia ranked as the Group’s third-largest market and re- corded strong growth, with net sales increasing to kCHF 23’742 from kCHF 16’552 in the first half of 2025, further strengthen- ing its contribution to the Group’s geographic diversification. Gross Margin Gross profit increased to kCHF 129’826 in the first half of 2026, compared with kCHF 107’378 in the prior-year period, primarily driven by higher net sales. The gross margin decreased by 0.9 percentage points year-on-year to 78.9%, reflecting a slightly higher increase in costs of sales relative to revenue growth. The margin development reflects the project-driven nature of the business, where the timing of revenue recognition and cost incurrence under the percentage-of-completion (PoC) method can lead to fluctuations depending on project mix and execution status. Personnel Expenses Personnel expenses increased by kCHF 10’578 to kCHF 90’922 in the first half of 2026, compared with kCHF 80’344 in the prior-year period. The increase was mainly driven by the inclusion of employees from Metronik and ABC T ransfer following their consolidation as of July 31, 2025, as well as the full-period effect of the workforce expansion in 2025, when 76 employees were added across the Group. Other Operating Expenses Other operating expenses decreased by 9.5% to kCHF 23’623 (H1 2025: kCHF 26’106) mainly due to reduced travel activities. EBITDA and Margin Development EBITDA improved in the first half of 2026, reaching kCHF 15’281 compared with kCHF 928 in the prior-year peri- od. The increase in profitability was supported by the higher sales level, disciplined cost management and a more favourable project execution in Equipment & Solutions. The strong growth in Services & Consumables further supported the earnings development, while the acquisitions included in the reporting period provided an additional contri- bution. As a result, the EBITDA margin increased to 9.3% from 0.7% in the first half of 2025. Financial Result The financial result primarily reflects the valuation of balance sheet positions denominated in the Company’s main foreign currencies, including USD, EUR and JPY. The improve- ment in the financial result compared with the first half of 2025 was mainly driven by lower foreign exchange volatility in the first half of 2026. 6 Balance Sheet Trade Receivables T rade receivables decreased by kCHF 5’721 compared to 31 December 2025. The decline was primarily driven by seasonal effects, reflecting the typical reduction in receivables outstanding at the reporting date. Inventories and Work in Progress Inventories rose slightly by kCHF 2’893 compared to 31 December 2025. Work in progress (WIP) decreased from kCHF 86’779 as of 31 December 2025 to kCHF 81’976 as of 30 June 2026. Projects progressed more efficiently from execution to completion, resulting in a larger portion of work being recognized as revenue rather than remaining in work in progress at the reporting date. Prepayments and accrued income Prepayments and accrued income primarily comprise advance payments made to suppliers in connection with ongo- ing customer projects. The increase of kCHF 7’169 compared to 31 December 2025 was mainly driven by higher prepayments to vendors for project-related procurement activities. Property, Plant and Equipment Property, plant and equipment increased by kCHF 7’866 to kCHF 194’695, mainly resulting from investments in Pre-Ap- proved Services.
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30 31 SKAN Half-Year Report 2026 Advance Payments from Customers The advance payments from customers (as disclosed in the balance sheet) increased by kCHF 8’432 compared to 31 December 2025, reflecting the strong order intake during the reporting period. in CHF thousands 30.06.2026 31.12.2025 Work in Progress (projects with WIP overhang) 269’998 284’523 Advance payments from customers -188’022 -197’743 T otal Work in Progress (as disclosed in the balance sheet) 81’976 86’779 Work in Progress (projects with advance payment overhang) 348’762 358’540 Advance payments from customers -480’947 -482’294 T otal Advance payments from customers (as disclosed in the balance sheet) -132’186 -123’754 Net Work in Progress/-Advance payments from customers -50’210 -36’975 Current provisions Current provisions increased compared to 31 Decem- ber 2025, mainly due to higher provisions for performance-re- lated compensation and other personnel-related obligations. Accrued liabilities and deferred income Accrued liabilities decreased compared to 31 Decem- ber 2025, primarily reflecting the settlement of obligations accrued at year-end. Equity The changes in equity are mainly attributable to the payment of the dividend to the shareholders. As per the resolu- tion of the Annual General Meeting of SKAN Group AG held on 7 May 2026, a dividend of CHF 0.22 per registered share was paid out on 15 May 2026. Half of the dividend was paid from capital contribution reserves (“Kapitaleinlagereserven”) and the other half from retained earnings. 7 Treasury shares T reasury shares are recognized at acquisition cost and presented as a deduction from equity. Upon their subsequent sale or allocation under share-based payment arrangements, any difference between the proceeds received and the acqui- sition cost is recognized directly in capital reserves and does not affect the income statement. Costs directly attributable to the acquisition of treasury shares are recognized in capital re- serves. SKAN holds treasury shares for the purpose of fulfilling share plans. During the first half of 2026, 6’850 registered shares were acquired at an average price of CHF 44.98 per share (first half of 2025: none acquired). These shares are reported under treasury shares and presented separately in the consolidated balance sheet, cash flow statement and within the statement of changes in equity. No treasury shares were sold or allocated under share-based payment arrangements during the first half of 2026 (first half of 2025: none). 8 Share-based compensation and payments The first half of 2026 marks the start of the perfor - mance period for the short-term (STI) and long-term incentive (L TI) plan. Under the compensation regulations, eligible mem- bers receive their remuneration in the form of shares (equity-set- tled).
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32 33 SKAN Half-Year Report 2026 9 Changes in the Scope of Consolidation 9.1 Changes 2026 ɩ There were no changes in the first half-year of 2026. Changes 2025 The following changes were made to the consolidation scope during the reporting year 2025: ɩ Acquisition of Metronik d.o.o. and ABC T ransfer SAS on 31 July 2025. Further information can be found in the 2025 annual report. ɩ Foundation of Maeven AG on 6 February 2025. ɩ Full acquisition and subsequent merger of prior in- vestment in associate Plast4Life into subsidiary Aseptic T echnologies S. A. as of 01 January 2025. Further information can be found in the 2025 annual report. 10 Investments in Associates 10.1 Changes 2026 ɩ The Group held no investments in associates during the reporting period. 10.2 Changes 2025 ɩ Following its full acquisition and subsequent merger into Aseptic T echnologies S. A., Plast4Life is no longer accounted for as investment in associate. 11 Foreign Exchange Rates Currency Unit 30.06.26 Average 1st half 2026 31.12.25 30.06.25 Average 1st half 2025 BRL 1 0.1563 0.1528 0.1447 0.1452 0.1498 EUR 1 0.9224 0.9179 0.9314 0.9347 0.9414 JPY 100 0.4980 0.4980 0.5060 0.5525 0.5810 USD 1 0.8096 0.7867 0.7927 0.7975 0.8628 12 Subsequent Events after the Balance Sheet Date Between the balance sheet date of the consolidated half-year financial statements ended on 30 June 2026 and the date of the approval of these financial statements by the Board of Directors, no events occurred that would require a change in the consolidated half-year financial statements.
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34 35 SKAN Half-Year Report 2026 Alternative Financial Performance Measures (APM) ɩ EBITDA: Operating result (EBIT) plus depreciation and amortization. ɩ EBITDA margin: EBITDA as a percentage of net sales from goods and services. ɩ EBT: Profit before income taxes. ɩ Equity ratio: Equity at the end of the period divided by total assets at the end of the period. ɩ Headcount: Number of people employed by SKAN Group at the time indicated (i. e. excluding contractors). ɩ Net working capital (NWC): T otal current assets (excluding cash and cash equivalents) minus trade payables, advance payments from customers, other current liabilities, current provisions, and accrued liabilities and deferred income. ɩ Operating result (EBIT): Earnings before total finan- cial result and income taxes. ɩ Return on capital employed (ROCE): Operating result (EBIT) divided by the sum of the average total assets minus the average current liabilities, expressed as a percentage. ɩ Order intake: T otal value of new customer orders received within the reporting period, stated at order values. New orders or cancellations received after the balance sheet date are not included. ɩ Order backlog: T otal value of customer orders received but not yet fulfilled, stated at order values. New orders or cancellations received after the balance sheet date are not included. ɩ Organic growth: Organic revenue growth represents the change in net sales from the existing scope of consolidation, excluding acquisition and divestment effects. New customers, products, projects and large or non-recurring orders generated within the existing Group are included in organic growth. Material pro- ject or one-off effects may be disclosed separately for transparency but remain part of organic growth. Abbreviations and Definitions ɩ n/a: Not applicable ɩ nm: Not meaningful Abbreviations and Definitions Financial Calendar Annual Report 2026, press conference and presentation for financial analysts 23.03.2027 Annual general meeting 2027 28.04.2027 Half-Year Report 2027 17.08.2027
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skan.com SKAN AG Kreuzstrasse 5 4123 Allschwil, Switzerland SKAN Stein AG Industriestrasse 3 4332 Stein, Switzerland SKAN Deutschland GmbH Nickrischer Strasse 2 02827 Görlitz/Hagenwerder, Germany SKAN US, Inc. 7409 ACC Blvd., Suite 200 Raleigh, NC 27617, USA SKAN Real Estate LLC 7409 ACC Blvd., Suite 200, Raleigh, NC 27617, USA SKAN Japan 5194-61 Katsuren-Haebaru Uruma-shi Okinawa 904 2311, Japan SKAN do Brasil Green Valley Alphaville Av, Andromeda, 885 – 28th Floor, Office 2823 Barueri CEP: 06473-000, São Paulo – SP – Brazil Maeven AG Hegenheimermattweg 167d 4123 Allschwil, Switzerland Aseptic Technologies S. A. Rue Camille Hubert 7–9 5032 Gembloux / Les Isnes, Belgium Metronik d. o.o. Stegne 9A 1000 Ljubljana, Slovenia Metronik Sustavi d. o.o. Zagrebačka cesta 145A 10000, Zagreb, Croatia ABC Transfer S. A.S. 5 Rue Thérèse Planiol 37170 Chambray-lès-T ours, France