Swiss contract development and manufacturing organization Siegfried confirmed its 2026 guidance on Friday after reporting first-half results that reflected stronger-than-usual seasonality ahead of planned second-half contributions from recent acquisitions.
Group sales rose 2.2% year-on-year to 633.0 million Swiss francs in the six months to June 30, while organic growth in local currencies reached 4.8%. The company attributed the increase to robust demand for active pharmaceutical ingredient development and manufacturing services across multiple markets.
Siegfried noted that seasonality between the first and second halves of the year would be more pronounced than usual because three production sites acquired in the U.S. and Australia were only integrated on May 1. Management said integration was progressing to plan and that customer interest remained strong. The trio of sites is expected to contribute roughly $100 million to net sales in 2026.
Within its two core business lines, Siegfried reported local-currency revenue growth of 4.8% for Drug Substances—covering active pharmaceutical ingredients and intermediates—to 431.1 million francs. Drug Products, which includes tablet manufacturing and sterile fill-finish, grew 1.5% in local currencies to 201.9 million francs.
Profitability improved as core EBITDA rose 6.0% to 142.0 million francs, lifting the margin by 0.8 percentage points to 22.4% and exceeding consensus estimates. Management cited operational efficiencies and a favorable product mix as key drivers. Core net profit increased 3.8% to 68.2 million francs, excluding exceptional items.
For the full year, Siegfried reiterated guidance for local-currency revenue growth in the high single digits and a core EBITDA margin above 23%. The medium-term outlook also remains unchanged, targeting profitable growth above the market average.
