INFICON reports strong first quarter and raises guidance
«Ad hoc announcement pursuant to Art. 53 LR»
Bad Ragaz/Switzerland, April 24, 2026
- Strong first quarter 2026 sales of USD 181.0 million, 14.4% above prior year
- Continued strong order intake, book-to-bill ratio well above 1; Semiconductor industry further accelerates
- Operating margin of 16.3% (Q1 2025: 20.2%), including around 3 percentage points of one-off restructuring costs, underlying margin remained resilient despite foreign exchange and tariff headwinds
- INFICON raises full-year 2026 guidance to sales of USD 710-750 million (previously: USD 680-720 million) and an operating income margin of 18-20% (previously: 17-19%), supported by first quarter results, continued operational progress, and a positive market outlook
INFICON reports strong first quarter 2026 sales of USD 181.0 million, up 14.4% year-on year (organic: 9.9%). Sales show strong growth in all markets except for Security & Energy, and the order intake developed strongly throughout the period with a book-to-bill ratio well above 1.
Operationally, INFICON remained focused on driving efficiency across its global operations and cost base while actively managing foreign exchange and tariff headwinds. The reconfiguration of our global footprint proved to be resilient amid recent supply chain interruptions. The gross profit increased by 6.1% to USD 83.1 million or 45.9% of sales after 49.4% a year ago. INFICON achieved operating income of USD 29.4 million, or 16.3% of sales (Q1 2025 USD 31.9 million), with underlying performance close to the target corridor when excluding one-off effects. Research & development expenses increased by 10.9% to USD 15.4 million, reflecting continued investments in Innovation. Sales, general and administrative (SG&A) costs increased by 17.8% to USD 38.3 million, driven primarily by one-off restructuring charges and unfavorable foreign exchange impacts. On a structural basis, SG&A costs declined year-on-year, with efficiency measures progressing as planned.
In its largest market Semiconductor & Vacuum Coating INFICON achieved a strong sales increase of 23.5% year-on-year, to USD 95.0 million. Sequentially, sales grew by 1.5% compared with the strong closing quarter of 2025. This market contributed 52.5% to total sales. The sales to the General Vacuum market grew by 20.3% in the yearly and by 1.4% in the quarterly comparison to USD 48.2 million or 26.6% of total sales. The market for Refrigeration, Air Conditioning, and Automotive reports year-on-year 2.7% higher sales of USD 34.7 million (sequentially: +11.2%), accounting for 19.2% of sales. Sales to the Security & Energy market reduced year-on-year and sequentially after a strong Q4 2025, representing 1.7% of Group sales and reflecting the timing of large public sector orders.
Earnings per share were USD 0.94, compared with USD 1.02 in the same period last year. Operating cash flow was strong at USD 21.7 million. The balance sheet continues to reflect a solid financial position with an equity ratio of 74.1%. Working capital of USD 241.5 million reflects higher accounts receivable driven by the strong invoicing activity in the quarter, while inventory remained stable.
Based on the positive outlook across most target markets, strong order intake and continued operational progress, INFICON raises its full-year 2026 guidance to sales of USD 710-750 million (previously USD 680-720 million) and an operating income margin of 18-20% (previously 17-19%).
Web conference
INFICON discusses its first quarter 2026 results in more detail today at 09:30 a.m. CEST in an English-language web conference. You can access the web conference via the following links: https://www.inficon.com/web-conference. The presentation is available from 07:00 a.m. in the investors’ area of the INFICON website www.inficon.com.
Communication Calendar
The communication calendar of INFICON is continuously updated and available online in the Investors’ section of the INFICON website www.inficon.com or directly at https://ir.inficon.com/financial-calendar/
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About INFICON
INFICON is a leading provider of innovative instrumentation, critical sensor technologies, and Smart Manufacturing /Industry 4.0 software solutions that enhance productivity and quality of tools, processes and complete factories. These analysis, measurement, and control products are essential for gas leak detection in air conditioning/refrigeration, and automotive manufacturing. They are vital to equipment manufacturers and end-users in the complex fabrication of semiconductors and thin film coatings for optics, flat panel displays, solar cells and industrial vacuum coating applications. Other users of vacuum-based processes include the life sciences, research, aerospace, packaging, heat treatment, laser cutting and many other industrial processes. We also leverage our expertise in vacuum technology to provide unique, toxic chemical analysis products for emergency response, security, and environmental monitoring. INFICON is headquartered in Switzerland and has world-class manufacturing facilities in Europe, the United States and China, as well as subsidiaries in China, Denmark, Finland, France, Germany, Italy, Japan, Korea, Liechtenstein, Malaysia, Mexico, Singapore, Sweden, Switzerland, Taiwan, the United Kingdom and the United States. INFICON registered shares (IFCN) are listed on SIX Swiss Exchange. For more information about INFICON and its products, please visit www.inficon.com.
This press release and oral statements or other written statements made, or to be made by us, contain forward-looking statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.