Ascom has secured a CHF 80 million framework agreement with Helse Sør-Øst (HSØ), Norway’s largest regional health authority, strengthening its long-term position in the country’s healthcare sector.

The seven-year contract supports the modernization of HSØ’s hospital infrastructure, covering both upgrades to existing facilities and new constructions. HSØ, owned by the Norwegian Ministry of Health and Care Services, operates 30 hospitals across 70 locations with more than 85,000 employees, serving approximately 57% of Norway’s population.

Strategic Scope

The agreement enables the deployment of standardized clinical communication solutions across multiple hospital projects. Key objectives include improving patient safety, accelerating response times, and streamlining workflows through integrated nurse call, critical alarm, and personal safety systems.

These solutions are designed to integrate seamlessly with existing clinical and technical infrastructures, aiming to enhance operational efficiency and improve working conditions for medical staff.

Project Awards and Execution

Ascom leveraged its extensive experience in Norwegian hospitals to secure additional project awards under this framework. In 2026, the company won tenders for patient signal and staff safety solutions at two major new developments: the Aker Hospital and the Rikshospitalet in Oslo.

Project execution for these awards commenced in the second quarter of 2026. The framework structure allows Ascom to expand its installed base and increase recurring revenue streams from software, services, maintenance, and future upgrades.

What the Numbers Show

The CHF 80 million valuation over seven years indicates a shift toward long-term, standardized platform contracts rather than one-off hardware sales. This model supports predictable recurring revenue from maintenance and software updates, reducing dependency on volatile capital expenditure cycles typical in healthcare infrastructure projects.

Ascom Holding AG reported a group profit of CHF 5.4 million for the first half of 2026, more than doubling the CHF 2.2 million recorded in H1/2025. The Swiss mission-critical communication solutions provider delivered this result alongside a 14.6% increase in incoming orders at constant currencies, signaling robust demand across its healthcare and enterprise segments. This performance underscores the effectiveness of its operational discipline and cost management strategies implemented throughout the year.

The filing, released pursuant to Art. 53 LR on July 29, 2026, details how Ascom maintained net revenue stability at actual currencies while achieving organic growth when currency effects are excluded. Net revenue stood at CHF 139.8 million, reflecting a 2.6% increase at constant currencies compared to CHF 140.0 million in H1/2025. The company attributed the improvement in profitability to higher operating earnings and lower financial expenses, reinforcing its commitment to sustainable value creation despite geopolitical volatility in various markets.

Financial Performance Highlights

Ascom’s profitability metrics showed marked improvement across all levels. EBITDA rose to CHF 13.5 million from CHF 12.1 million in the previous year, with the margin expanding by 1.1 percentage points to 9.7%. EBIT also strengthened, increasing to CHF 7.2 million from CHF 5.0 million, resulting in an EBIT margin of 5.2% versus 3.6% in H1/2025. These gains were supported by disciplined cost control, particularly in marketing, sales, and general administration, as synergies from the regional model established in 2025 continued to materialize.

Operational Strength and Balance Sheet

Incoming orders growth was visible across all regions, with Region USA & Canada leading at 4.0% growth at constant currencies, followed by Region South at 3.5% and Region North at 1.0%. Business performance was particularly strong in the Nordic countries, Germany, and growth markets including CEE, MEA, and Asia. Several new orders represent multi-year frame contracts, providing a solid revenue foundation for the second half of 2026 and beyond. Consequently, the overall order backlog increased to CHF 344.6 million as of June 30, 2026, up 11.8% at constant currencies.

The company maintained a solid balance sheet with a net cash position of CHF 25.3 million at June 30, 2026, down from CHF 29.5 million in the prior year. This decrease reflects that CHF 8.8 million more cash was returned to shareholders compared to the prior-year period. Operating cash flow amounted to CHF 14.0 million, representing a solid cash conversion of 104%. Ascom also completed its share buyback program on June 19, 2026, repurchasing 3,000,000 registered shares for CHF 13.4 million with the intention of subsequent capital reduction.

What the Numbers Show

The divergence between gross profit and EBITDA trends offers insight into Ascom’s operational efficiency. While gross profit decreased slightly to CHF 66.0 million (margin 47.2%) from CHF 67.2 million (margin 48.0%) due to product mix, EBITDA margins expanded significantly. This indicates that cost savings in operating expenses—specifically marketing, sales, and administration—more than offset the pressure on gross margins. The ability to drive EBITDA growth despite flat top-line revenue at actual currencies demonstrates effective leverage of fixed costs and successful implementation of the regional synergy model.

Ascom reaffirms its 2026 guidance of low to mid-single-digit revenue growth at constant currencies and an EBITDA margin of 10–12%. With a strong order backlog and continued operational discipline, the Board of Directors and Executive Committee remain focused on executing its strategy of providing mission-critical communication and workflow solutions.