Horizon Group — Annual Report · 2025 04 / 15
Markets & Business Model
Two segments, one model
Horizon Group creates value through the interplay of two segments. Technology develops and manufactures precision systems — around 58% of revenue — while Services maintains, upgrades and eventually replaces the installed base, contributing the remaining 42% with revenue that recurs across an equipment life cycle of fifteen years or more.
The value chain is deliberately short and largely Swiss: research and development in Geneva, manufacturing in Lausanne, software in Zurich, and distribution through own subsidiaries in 30 countries. Every technology sale seeds a service relationship; every service contract informs the next product generation.
Four industries, one requirement: precision
Precision manufacturing remains the largest customer industry and the historic core of the group. Machine and equipment builders across the DACH region and northern Italy rely on Horizon Group components wherever tolerances are measured in microns; as their replacement cycles lengthen, an ever larger share of this business shifts from new equipment to the Services segment.
Medical technology is the most demanding market — and the quickest to reward reliability. Certified cleanroom production in Lausanne serves implant and instrument makers in Switzerland and the United States, customers who qualify a supplier over years and rarely change once they have.
Energy infrastructure is the growth engine. Grid modernisation and the build-out of renewables lift the served market by around 8% a year, and the modular platform was designed with these customers first in mind: many of its first fifty enterprise customers operate transmission or storage assets.
Transportation, chiefly rail, completes the picture. Public tenders and thirty-year asset lives make it the slowest market — and the steadiest. Framework agreements signed in 2025 secure baseline volumes for the Lausanne plant well into the decade.
Where we compete
| Customer industry | Served market | Market position | Expected growth |
|---|---|---|---|
| Precision manufacturing | CHF 4.2 B | No. 2 | ~3% p.a. |
| Medical technology | CHF 2.8 B | No. 3 | ~6% p.a. |
| Energy infrastructure | CHF 3.5 B | No. 2 | ~8% p.a. |
| Transportation | CHF 1.9 B | Top 5 | ~4% p.a. |
| Total served market | CHF 12.4 B | — | — |
“Technology wins the customer; Services keeps the relationship for fifteen years. That recurring base is what lets us fund CHF 360 million of research in any part of the cycle.”