Consumer & Industrial review
Significant increase in gross profit margin despite slower Beauty market recovery
In our Consumer & Industrial segment, we provide our customers with high-quality products and services specifically tailored to our customers’ needs. In the Industry business unit we design, develop and market a broad range of products such as dispensers, cartridges and mixers for two-component adhesives and sealants for use in construction, transportation, electronics, infrastructure and general industrial sectors. Micro-brushes and applicators for eyes, eyelashes, lips and facial make-up are the most important products of our Beauty business unit. They are sold to a broad customer base that ranges from regional to global brands and includes the most iconic names in the beauty industry.
Revenue by business unit and gross profit
millions of CHF | 2025 | +/–% change | +/–% organic2) | 2024 | ||||
Industry | 124.3 | –1.8% | 1.4% | 126.6 | ||||
Beauty | 152.1 | –15.8% | –12.9% | 180.6 | ||||
Total revenue Consumer & Industrial (C&I) 1) | 276.5 | –10.0% | –7.0% | 307.2 | ||||
Cost of goods sold Consumer & Industrial (C&I) | –202.2 | 13.7% | –235.8 | |||||
Gross profit Consumer & Industrial (C&I) | 74.2 | 1.8% | 71.4 | |||||
Gross profit margin Consumer & Industrial (C&I) | 26.9% | 23.3% |
1)Revenue from external customers.
2)Adjusted for acquisition and currency effects.
Revenue by business unit
2025
Revenue by business unit
2024
Industry – Increased revenues and profitability despite challenging market environment
The Industry business unit delivered revenues of CHF 124.3 million in 2025 – an increase of 1.4% year-on-year, with even higher growth in our core cartridges and mixers product categories. Our dispenser business remains challenging, and we have launched a portfolio optimization project to reposition ourselves in this market. We have steadily improved the gross profit margin, and the business has returned to growth in 2025 despite sluggish end-markets.
This strong result demonstrates that we have successfully turned around the Industry business unit following the shutdown of our Polish site in 2022. Throughout 2025, we focused on improving efficiency by streamlining product flows and further automating production processes at our Valencia facility. In addition, we are making solid progress in insourcing third-party manufacturing in the USA to our Atlanta site, enhancing value creation.
Beauty – Improving growth momentum
Beauty business unit revenue declined year-on-year by 12.9% to CHF 152.1 million. Sequentially, the second half of 2025 grew mid-single digit, supported by a successful dual-site global launch. We protected our profitability through disciplined pricing, while accelerating decisive cost‑out measures to align our cost base with business volumes, allowing us to unlock additional profitable growth opportunities.
