Horizon Group — Annual Report · 2025 08 / 15
Outlook 2026
Horizon Group enters 2026 from a position of strength: a 40-week order book on the modular platform, net debt at 0.9 times EBITDA, and the Nordlicht integration fully behind us. For the current year we guide to organic revenue growth of 4 to 6% and an operating margin of around 19%, with capital expenditure held at roughly 5% of revenue.
Two things temper our confidence. The Swiss franc remains strong against both the euro and the dollar, and trade policy across our export markets is less predictable than it has been in a decade. Both sit on the risk register with named owners — and neither changes the course we set in 2021: disciplined growth, funded from our own cash flow.
Guidance 2026
Priorities for 2026
Second Nordlicht synergy wave
Procurement pooling and shared platform components, targeting a further CHF 25 million in run-rate savings by year end.
Zurich technology centre expansion
120 additional engineering roles to accelerate the modular platform roadmap.
Scaling the modular platform
From fifty to two hundred enterprise customers while working the 40-week order book down to a sustainable level.
Deeper sustainability assurance
Moving from limited to reasonable external assurance on the key CSRD environmental indicators.
“We guide to what we can see, not to what we hope for. The order book covers forty weeks — the rest is execution.”
Talk to investor relations
Questions on the 2026 guidance or the financial calendar? Our IR team answers within one business day.
Contact investor relations