The high-tech company Dätwyler specializes in the development and production of high-quality, system-critical elastomer components and holds a leading market position in the areas of Healthcare, Transportation & Electronics, General Industry, and Food & Beverage.

With 25 production sites on four continents, sales activities in over 100 countries, and more than 7,500 employees, Dätwyler generates annual revenue exceeding CHF 1.1 billion. The company is headquartered in Switzerland and has been listed on the SIX Swiss Exchange since 1986.

An elastomer is an elastic plastic—a polymer that can be highly deformed (e.g. stretched or compressed) and returns to its original shape once the stress is released. Elastomers are used, for example, in medical technology (e.g. tubes, silicone valves) or automotive engineering (e.g. seals).

Dätwyler was traditionally known primarily for its activities in the cyclical automotive supplier business. However, our guests were able to see for themselves that Dätwyler today is much more broadly positioned.

CEO Volker Cwielong announced in his presentation that the company intends to further reduce its engagement in the automotive supplier business in the future. The Healthcare and Food & Beverage divisions together already generate over 60% of total revenue and are characterized not only by their defensive and countercyclical nature, but also by higher margins due to their high level of specialization.

In the long term, the company aims for a 45–55% share of revenue in the Healthcare segment. Here, Dätwyler produces, among other things, stoppers for medicine vials and plunger stoppers for prefilled syringes.

In the Food & Beverage segment, the company is familiar—albeit often unconsciously—to every coffee capsule drinker: at its Schattdorf site, Dätwyler produces and processes several million coffee capsules every day. During the plant tour, we were able to witness the highly automated production facilities in action.

Transformation program on track
CEO Volker Cwielong explained the current developments of the ForwardNow transformation program during the visit. Already during its three-year term until 2027, Dätwyler expects cumulative earnings improvements of around CHF 52 million. After completion of all measures, sustainable annual earnings improvements of around CHF 24 million are expected.

Challenges and opportunities
The shortage of skilled workers remains a key challenge for Dätwyler, particularly in filling apprenticeship positions for polymechanics. The company is addressing this through targeted investments in training and talent development. Dätwyler sees opportunities particularly in the further expansion of high-margin business areas.

Personal exchange
During the subsequent Apéro Riche, our guests took the opportunity to engage personally with the management. We sincerely thank Dätwyler for the fascinating insights and open dialogue.

Evaluation and outlook
Dätwyler’s short-term prospects remain somewhat restrained, but the medium- and long-term outlook is very positive: demand in the Healthcare segment is developing encouragingly. Dätwyler will increasingly sell so-called high-value products, raising their share from one-third to 50%. The Food & Beverage segment is currently enjoying strong tailwinds. The Oil & Gas segment, which had previously suffered from an uncertain environment in the U.S., appears to be stabilizing. The automotive-related segment, however, continues to face challenging conditions.

The stock is already fairly valued, with a price-to-earnings ratio (P/E) of 25.2x in 2026. The enterprise value to EBITDA multiple (EV/EBITDA) stands at 12.7x, placing it at the lower end of the historical range.