Financial report

Stable revenues and balanced funding

In 2025, CSEM continued to demonstrate financial stability and resilience in a complex economic and geopolitical environment. Total revenues reached CHF 117.6 million, a 2% increase compared with 2024. Public contributions remained stable at CHF 45.4 million, while competitive public research funds rose to CHF 37.6 million, confirming CSEM’s strong positioning in European and national research programs. Private contributions stood at CHF 34.6 million, remaining stable despite the financial pressures currently affecting many industrial partners.

Key figures

The presentation of the financial statements was revised during the current fiscal year to enhance clarity and consistency. Accordingly, comparative figures for the prior year have been reclassified to reflect the new presentation format. These reclassifications had no impact on net income or shareholders’ equity.

Total operating expenses amounted to CHF 117.8 million, driven mainly by staff costs, which increased to CHF 80.7 million. The year closed with a slight operating deficit of kCHF 146 culminating in a net result of kCHF −170. Despite budgetary constraints, financial pressure and reduced planning certainty, CSEM’s diversified revenue base and strong engagement in competitive research continue to underpin its mission to support Swiss industry through leading‑edge technology and innovation.

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