Implenia, the Swiss construction and infrastructure group, reported a record order book of CHF 8.5 billion in the first half of 2026, up 9.6% year-over-year from CHF 7.75 billion. The company also posted a 6.0% increase in operating profit to CHF 60.4 million, with its EBIT margin expanding by 0.3 percentage points to 3.4%.
Revenue declined 4.8% to CHF 1.767 billion, attributed to early ramp-up phases in large infrastructure projects. Consolidated profit rose 6.8% to CHF 35.6 million, while free cash flow improved by CHF 51 million to CHF -117.7 million, reflecting typical seasonal patterns in the construction sector.
The company’s equity ratio strengthened by 2.2 percentage points to 23.4%, approaching its medium-term target of 25%. Net debt decreased by CHF 80 million year-over-year, and cash and cash equivalents increased 38% to CHF 376.6 million.
Divisionally, the Buildings segment saw its order book surge 17.1% to CHF 3.01 billion, though revenue remained broadly stable at CHF 859 million. Operating profit in the segment rose 13.4% to CHF 23.5 million. Civil Engineering reported a 5.7% increase in its order book to CHF 5.445 billion, with EBIT up 18.2% to CHF 18.8 million. The Service Solutions division, including Wincasa and the recently acquired zigmo engineering, posted a 25.6% jump in EBIT to CHF 11.7 million.
Implenia expects full-year 2026 operating profit of approximately CHF 150 million before extraordinary growth investments of CHF 10-20 million, with revenue roughly flat versus 2025. For 2027, the company targets EBIT exceeding CHF 150 million and higher revenue, alongside a 25% equity ratio and a 4.5% EBIT margin.
CEO Jens Vollmar highlighted the company’s diversified portfolio amid macroeconomic and geopolitical challenges, while CFO Stefan Baumgärtner noted the order book increase provided a solid foundation for future growth.
