The CPH Group (CPH) reported net sales of CHF 176.1 mn, a stable 0.1% increase year-on-year (YoY). This growth was driven primarily by acquisitions (+3.8%), while currency effects (-3.7%) were a drag and organic growth remained flat at 0.0%. EBITDA for the group amounted to CHF 28.3 mn, a 6.3% decline YoY. The corresponding margin dropped to 16.1% (1HFY25: 17.2%), impacted by a slowdown in the high-margin deuterated compounds and lithium-based molecular sieves businesses, combined with higher operating expenses resulting from recent acquisitions. Group EBIT came in at CHF 19.0 mn, while the corresponding margin declined to 10.8% (1HFY25: 12.5%). The net result declined to CHF 14.3 mn compared to CHF 17.1 mn in 1HFY25, impacted by lower operating profitability and slightly higher amortization due to acquisitions. Cash flow from operating activities amounted to CHF 20.9 mn (1HFY25: CHF 4.5 mn) and free cash flow improved significantly to CHF 12.8 mn (1HFY25: CHF -1.8 mn), primarily due to a much lower temporary increase in net working capital compared to the prior-year period.