Welcome

For eight years we have described Vertex Industries as an automation company learning to think in software. In 2025 the description stopped being an ambition and became the income statement.

Letter from the Chief Executive

Dear shareholders, revenue grew 24% to CHF 1,280 million, and for the first time more than a third of it — CHF 435 million of annual recurring revenue, up 31% — renews by subscription rather than by purchase order. EBIT rose to CHF 205 million, a margin of 16.0%, as the software mix did exactly what we said it would: every point of recurring share is a point of resilience.

Three decisions defined the year:

• In February we acquired Kestrel Robotics for CHF 120 million, adding 340 specialists in warehouse robotics; the integration was completed in October, ahead of plan.
• In June we launched Vertex Neura, our AI copilot for factory operations. By year end it was live at 1,400 customer sites.
• In September we opened the Winterthur robotics campus, a CHF 60 million investment that brings research, prototyping and pilot production under one roof.

We enter 2026 with an order backlog of CHF 1.9 billion, net cash of CHF 210 million and a proposed dividend of CHF 1.60 per share, up 14%. The pages that follow explain how 8,900 colleagues in 38 countries built that position — and what we intend to do with it.