Meier Tobler: Revenue Holds Steady, Profitability Dips in 2025

Financial results

Switzerland: Meier Tobler today released its preliminary, unaudited results for the 2025 financial year, reporting resilience in a challenging market and further strengthening its position. Net sales reached CHF 496.6 million (US$ 647 million), up slightly by 0.1% from the previous year, with the company gaining market share despite a declining Swiss heat pump market. Business performance was uneven, with a strong third quarter offset by weaker-than-expected sales and margins in November and December. EBITDA amounted to CHF 37.9 million (US$ 49.4 million), down 8.2% from CHF 41.3 million (US$ 53.8 million) in 2024, primarily due to a lower gross margin driven by adverse price and product mix effects, regulatory-related declines in electric water heater sales, and higher IT expenses for implementing and optimizing the new ERP system and developing a new e-shop. Adjusted group profit (before goodwill amortization) stood at CHF 25.6 million (US$33.3 million) versus CHF 31.6 million (US$ 41.1 million) the previous year, highlighting solid operational profitability.

Source: Meier Tobler