INFICON reports record third quarter 2026 and raises full-year guidance

INFICON reports record third quarter 2026 sales of USD 233.3 million, an increase of 42.4% over the same period last year (organic: 42.5%) and 17.7% over the preceding second quarter. Sales grew year-over-year in all regions and in all markets, including some project timing effects. Leading-edge logic, high-bandwidth memory, and data-center infrastructure remain the primary demand drivers behind the ongoing semiconductor ramp, which continues to be particularly pronounced in Asia-Pacific and China.

Order intake remained strong and further exceeded the record level of the preceding quarter, with a book-to-bill ratio well above 1.

Operationally, INFICON's reconfigured global manufacturing footprint continued to prove resilient. We are ramping up capacity across our operations to support the strong customer demand. Extensive measures have been taken to mitigate supply-chain risk. At the same time, with global supply chains under constant pressure, the risk of disruptions remains elevated. Cost inflation is increasing, particularly in logistics and certain materials, and we anticipate a growing headwind from these costs going forward. INFICON managed these risks well and in the third quarter these factors were more than offset by sustained cost discipline and operating leverage on higher volume. Gross profit rose to USD 116.9 million. The gross profit margin improved to 50.1%, up from 46.6% in the second quarter and from 43.0% in the prior-year quarter, which had been heavily affected by tariff-related costs.

Research and development expenses rose 13.1% year-on-year to USD 14.9 million and selling, general, and administrative expenses increased 23.5% to USD 42.5 million. Operating income increased to USD 59.5 million from USD 22.9 million in the same period last year, driving the operating income margin to 25.5% from 14.0% a year ago and from 21.3% in the second quarter. The sequential increase was partly supported by favorable one-off effects. The net result was USD 47.4 million, or 20.3% of sales, and earnings per share rose to USD 1.94 from USD 0.71 a year ago.

Development in the target markets and world regions

In its largest market, Semiconductor & Vacuum Coating, INFICON achieved sales of USD 135.4 million, surging by 74.7% year-on-year and 26.1% over the preceding quarter, contributing 58.0% to Group sales and reflecting the broad-based semiconductor upswing across all regions. The Advanced Industrial Markets delivered solid sales growth: Sales to the General Vacuum market were USD 51.0 million, or 21.8% of Group sales, up 13.3% year-on-year and 8.8% sequentially. Sales in Automotive, Refrigeration & Air Conditioning grew 11.0% year-on-year and 1.6% sequentially to USD 39.8 million, accounting for 17.1% of Group sales. Security & Energy sales were USD 7.2 million, or 3.1% of Group sales, up 29.4% year-on-year and 50.1% sequentially.

Sales increased across all regions year-over-year. Asia-Pacific grew to USD 65.4 million (28.0% of Group sales), up 49.8% year-on-year, while sales to China rose significantly by 71.7% to USD 73.2 million (31.4%), both led by strong semiconductor demand. Sales in the Americas increased to USD 50.1 million (21.5%) and in Europe to USD 43.4 million (18.6%), up 34.3% and 10.8% year-over-year, respectively, with the remainder (0.5%) attributable to other regions.

Cash flow and balance sheet

Cash generation remained healthy, with an operating cash flow of USD 77.6 million in the third quarter. The balance sheet continues to reflect a strong financial position, with cash and short-term investments rising to USD 220.5 million.

Working capital was USD 251.6 million, corresponding to 27.0% of sales (an improvement from 34.2% in Q3 2025), and inventory turns improved to 2.7 times (2.4 a year ago) on inventories of USD 164.9 million. Days sales outstanding were 50 days, slightly above 48 days a year ago.

Outlook

Based on the strong performance and the ongoing semiconductor upcycle, INFICON raises its full-year 2026 guidance to sales of USD 820-850 million (previously USD 750-780 million) and an operating income margin of 21-22% (previously 19-20%). The supply-chain measures implemented have proven effective; however, as global supply chains remain under pressure, we continue to closely manage the risk of disruptions as well as rising logistics and material costs.

Web conference

INFICON discusses its third quarter results in more detail today at 09:30 a.m. CET in an English-language web conference. You can access the web conference via the following link: https://www.inficon.com/web-conference. The presentation is available from 07:00 a.m. CET in the investors' section of the INFICON website www.inficon.com.

Communication Calendar

The communication calendar of INFICON is continuously updated and available online in the investors' section of the INFICON website www.inficon.com or directly at https://ir.inficon.com/financial- calendar/.

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Corporate Contact

Dimitrij Lisak, Chief Financial Officer
+41 81 300 4980
dimitrij.lisak@inficon.com