In the first half of 2026, Perlen Packaging achieved a slight increase in earnings and margin despite stable sales. According to its parent company, CPH Group, this positive development was primarily driven by a strong European business, higher demand from pharmaceutical customers, and a larger share of high-margin high-barrier films.
Perlen Packaging’s turnover reached around CHF 119 million in the first six months of 2026, compared with CHF 118 million in the same period last year. Adjusted for acquisitions and currency effects, this corresponds to growth of 2.0 %. EBITDA also increased by 2.0 %, from CHF 17.8 million to CHF 18.2 million. Despite adverse currency effects, the EBITDA margin rose from 15.0 to 15.3 %. EBIT stood at CHF 13.5 million, virtually unchanged from the previous year, whilst the EBIT margin remained stable at 11.4 %.
Higher proportion of high-barrier films
According to the CPH Group, the European business of Perlen Packaging in particular performed positively. The Middle East conflict and its associated impact on global supply chains had led pharmaceutical customers to return to longer-term planning and thus to stronger demand. At the same time, Perlen Packaging was able to increase the proportion of higher-margin high-barrier films in its sales volume.
According to the company, the cost-reduction measures initiated in the second half of 2025 and the return to a sales mix with a higher proportion of premium blister foils also had an effect. In addition, LOG Pharma, acquired at the beginning of 2025, gradually improved both its sales volume and profitability.
Perlen Packaging expects full-year growth
For the second half of the year, the CPH Group intends to focus on efficient production at Perlen Packaging. For the full year 2026, the company expects higher sales and a higher EBITDA for the packaging division than in the previous year. The forecast is based on the assumption of largely stable currency relations and no significant escalation of geopolitical conflicts.
At Group level, turnover remained virtually unchanged in the first half of the year at CHF 176.1 million. EBITDA fell by 6.3 % compared with the same period last year to CHF 28.3 million. In addition to Perlen Packaging, the CPH Group also comprises the chemicals division Zeochem.
Source: CPH Group
