Industry News: Sulzer's Q3 Earnings Report (Jiachuang Metals' main client)
Recently, Sulzer released its Q3 2025 earnings report.
Overall Outlook: Despite delays in some large projects, order intake continues to recover.
Order Trends: Year-to-date order value decreased by 1.2% year-on-year, a slight improvement compared to the first half of 2025 (-2.4%). Overall, order growth is positive, with only a few large projects postponed to 2026.
Order Intake
millions of CHF | Jan – Sep 2025 | Jan – Sep 2024 | Change +/- % |
Flow | 1’139 | 1’219 | -2.3% |
Services | 1’106 | 1’022 | +13.2% |
Chemtech | 533 | 694 | -20.3% |
Total Sulzer | 2’777 | 2’934 | -1.2% |
Overall Performance Overview:
Sulzer's Fluids & Services segment maintained continued growth in baseload, aftermarket, and small-project sectors. Due to economic uncertainties, customers adopted a cautious approach to some large-scale project decisions. This unfavorable investment environment had a slight impact on the Fluids segment but a significant impact on the Chemical Technology segment.
Fluids Segment: Orders for the first nine months decreased by 2.3% year-on-year (compared to a 3.1% decrease in the first half). The segment maintained steady growth overall, but both of its business units were affected by delays in large-scale customer projects.
Services Segment: Orders again achieved double-digit growth, increasing by 13.2% year-on-year (compared to 12.0% in the first half). This segment achieved steady performance improvement thanks to continued expansion in the Retrofits business in the Americas and Europe, Middle East, and Africa (EMEA).
Chemical Technology Segment: Orders decreased by 20.3% year-on-year, primarily due to delays in large-scale projects. Demand for mass transfer components and services in the Chinese market is weak; however, strong market demand is observed in bio-polymers, carbon capture, and sustainable aviation fuels, indicating a positive market outlook for next year.
Future Outlook
Against a volatile market environment and unfavorable investment climate, Sulzer forecasts the following for its full-year 2025 results: organic order growth of 2% to 5% year-over-year, and organic sales growth of 5% to 8% year-over-year; EBITDA margin is expected to further improve, exceeding 15% of sales.
As a long-term and stable core supplier of castings to Sulzer Dalian, Dalian Jiachuang Metal Manufacturing Co., Ltd. will closely follow its customer's development, fully leverage its core strengths, continuously improve product quality, optimize production processes, and enhance service levels, working hand in hand with customers to address market challenges and seize development opportunities.